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Disabled & elderly assistive technologies market flourishes by 2023 and attracts investors according to new research report

The global disabled & elderly assistive technologies market was valued at $22,466 million in 2016, and is anticipated to reach at $37,610 million by 2023, registering a CAGR of 7.8% from 2017 to 2023.

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The disabled & elderly assistive technologies market constitute rehabilitative devices that provide additional accessibility to individuals with cognitive difficulties, impairments, and disabilities. These assistive technologies help disabled & geriatric patients to improve quality of life, health outcomes, offer solutions for independent living, and reduce healthcare costs.

The global disabled & elderly assistive technologies market is driven by rise in geriatric & disabled population, lifestyle changes, availability of disabled & elderly assistive products, and increase in demand for assistive technologies due to the growth in trend of independent lifestyle.

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Furthermore, growth in number of assistive devices manufacturers investing in the R&D activities of these technologies fuels the market growth.

However, high cost of few sophisticated products, low level of acceptance for few products, and low reimbursement from medical insurers restrain the market growth. Conversely, increase in proactiveness of people and rise in health consciousness among people are anticipated to provide lucrative growth opportunities for the market growth.

Report: goo.gl/Zb2iua

The global disabled & elderly assistive technologies market is segmented based on product, end user, and region On the basis of product type, it is categorized into mobility assistance aids (wheelchairs, mobility scooters, crutches and canes, patient mechanical lift handling, walkers & rollators, and others), assistive furniture (medical beds, riser reclining chairs, railings & bar, door openers, and others), bathroom safety &  assistive products (commode chairs, shower chairs, ostomy products, and others), and communication aids (speech & writing therapy devices, hearing aids {canal hearing aids, receiver-in-the-ear (RITE) aids, cochlear implants, behind-the-ear (BTE) aids, bone anchored hearing aids (BAHA), and in-the‐ear (ITE) aids}, and vision & reading aids {reading machines, video magnifiers, braille translators, and others. Based on end user, the market is classified into hospitals, elderly nursing homes, home care, and others.

Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the highest share in the market in 2016, and is expected to maintain its dominance throughout the forecast period, owing to presence of substantial number of manufacturers for assistive technologies.

However, Asia-Pacific is expected to emerge as a lucrative area with maximum growth potential, owing to the rapid development in healthcare infrastructure, rise in medical tourism, and growth in health awareness among middle-class population.

The key players operating in the market are seeking opportunity to enter the industry. Moreover, new players moving into healthcare are interdisciplinary and contribute by expanding expertise range, leveraging diversification, and augmenting production scale by providing the necessary capital.

Report: goo.gl/DyygeU

Key Benefits

  • The study provides an in-depth analysis of the global disabled & elderly assistive technologies market along with the current trends and future estimations to elucidate the imminent investment pockets.
  • The report presents quantitative analysis of the market from 2016 to 2023 to enable the stakeholders to capitalize on the prevailing market opportunities.
  • Extensive analysis of the market based on product assists to understand the trends in the industry.
  • Key market players and their strategies are thoroughly analyzed to understand the competitive outlook of the industry.

Key Market Segments

By Product

  • Mobility Assistance Aids

o   Wheelchairs

o   Mobility Scooters

o   Crutches and Canes

o   Patient Mechanical Lift Handling

o   Walkers & Rollators

o   Others

  • Assistive Furniture

o   Medical Beds

o   Riser Reclining Chairs

o   Railings & Bar

o   Door Openers

o   Others

  • Bathroom Safety & Assistive Products

o   Commode Chairs

o   Shower Chairs

o   Ostomy Products

o   Others

  • Communication Aids

o   Speech & Writing Therapy Devices

o   Hearing Aids

  • Canal Hearing Aids
  • Receiver-in-the-Ear (RITE) Aids
  • Cochlear Implants
  • Behind-the-Ear (BTE) Aids
  • Bone Anchored Hearing Aids (BAHA)
  • In-the‐Ear (ITE) Aids

o   Vision & Reading Aids

  • Reading Machines
  • Video Magnifiers
  • Braille Translators
  • Others

By End User

  • Hospitals
  • Elderly Nursing Homes
  • Home Care
  • Others

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

 

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