WILMINGTON, DE / ACCESSWIRE / August 25, 2022 / Transparency Market Research Inc. - The global elderly and disabled assistive devices market is prognosticated to gain a value of US$ 31.6 Bn by the end of 2028, as per an assessment by Transparency Market Research (TMR). This suggests that the market is expected to expand at a CAGR of 5.3% during the forecast period, 2021-2028.
The older populace is generally prone to different types of physical disabilities including vision issues, immobility, and hearing loss. Hence, the demand for various types of assistive devices in being increasing by this population pool in order to carry out regular activities such as reading, listening, and movement. This factor is expected to generate significant growth opportunities in elderly and disabled assistive devices market during the forecast period, state analysts of a report by TMR.
The elderly and disabled assistive devices market in North America is prognosticated to gain notable avenues for growth during the forecast period owing to several important factors including a rise in the adoption of next-gen products in the regional healthcare industry, increase in the older population, and improved spending power of the regional populace.
Companies operating in the global market for elderly and disabled assistive devices are focusing on R&Ds in order to develop innovative products. In addition, several elderly and disabled assistive devices manufacturers are using organic and inorganic strategies including mergers, acquisitions, and partnerships in order to stay ahead of the competition. Moreover, players in the elderly and disabled assistive devices market are focusing on the launch of next-gen products so as to expand their product portfolios. Such factors are expected to help in overall growth of the elderly and disabled assistive devices market during the forecast period.
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Elderly and Disabled Assistive Devices Market: Key Findings
- The demand for automated assistive devices is being increasing in the recent years owing to their ability to assist in minimizing manual work for the older patients. In the recent years, different types of assistive devices such as walkers, mobility scooters, bathroom safety devices, ambulatory devices, behind-the-ear (BTE) aids, receiver-in-the-ear (RITE) aids, reading machines, and braille translators are easily available across many developing nations. This factor is leading to prominent growth prospects for elderly and disabled assistive devices market, note analysts of a TMR report.
- The understanding about the use of next-gen software and smart technologies in different types of assistive devices is being increasing among people from around the world. This factor is bolstering the elderly and disabled assistive devices market, state researchers of a study by TMR. This aside, the market is being driven by a rise in inclination among people around the world toward the adoption of independent lifestyle.
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Elderly and Disabled Assistive Devices Market: Growth Boosters
- Increase in understanding about and adoption of assistive devices by older population across the globe is fueling the sales growth in the market
- Rise in the older as well as disabled populace globally is driving the demand for elderly and disabled assistive devices
Elderly and Disabled Assistive Devices Market: Key Players
Some of the key players profiled in the report are:
- Bausch & Lomb, Inc.
- Sonova Holding AG
- Siemens Healthcare
- Permobil AB
- William Demant Holding A/S
- Freedom Scientific, Inc.
- Sunrise Medical LLC
- Invacare Corporation
- Ai Squared
- GN ReSound Group
- Drive Medical Design and Manufacturing
- Blue Chip Medical Products, Inc.
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Elderly and Disabled Assistive Devices Market Segmentation
- Type
- Medical Mobility Aids and Ambulatory Devices
- Wheelchairs
- Mobility Scooters
- Cranes and Crutches
- Walkers and Rollators
- Transfer Lifts
- Door Openers
- Others
- Medical Furniture and Bathroom Safety Products
- Medical Beds
- Commodes & Showers Chairs
- Ostomy Products
- Bars and Railings
- Others
- Hearing Aids
- Receiver in the Ears Designs
- Behind-the-Ear (BTE) aids
- In the ear Aids
- Canal Hearing Aids
- Bone Anchored hearing Aids
- Cochlear Implants
- Vision and Reading Aids
- Video Magnifier
- Braille Translator
- Reading Machines
- Others (Books, Kitchen Appliances)
- Medical Mobility Aids and Ambulatory Devices
Regions Covered
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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