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2019
Elderly And Disabled Assistive Devices Market

Elderly and Disabled Assistive Devices Market

by Type (Living Aids, Mobility Assistive Devices, Bathroom Safety Equipment, and Medical Furniture): Global Opportunity Analysis and Industry Forecast, 2019-2026
Update Available On-Demand

Report Code: A00365
Pages: 202
Jul 2019 | 22036 Views
Author(s) : Kavita J , Onkar S
Tables: 65
Charts: 69
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Elderly and Disabled Assistive Devices Market Overview 2026

The global elderly and disabled assistive devices market size was $23,009 million in 2018 and is anticipated to reach $35,599 million by 2026, registering a CAGR of 5.5% from 2019 to 2026. The elderly and disabled assistive devices constitute of rehabilitative devices, mobility aids, and cognitive aids that provide additional accessibility to individuals with cognitive difficulties, impairments, and disabilities. These techniques assist disabled and elderly people to enhance the quality of life, improve health results, provide independent living alternatives, and decrease healthcare expenses.

Assistive devices such as wheelchairs, scooters, canes, crutches, walkers, and others are effective ways to combat the impact of mobility limitations for disabled people, allowing improved ambulation, and independence. Moreover, the rise in elderly population across the globe and hence, the usage of assistive devices is of increasing importance. Assistive technology can be used as an effective device for the reduction in the level of activity limitation at older ages.

elderly-and-disabled-assistive-devices-market-1563795387

The global elderly and disabled assistive devices market is primarily driven by significant rise in mobility impairment disorders, lifestyle changes, and availability of a variety of disabled & elderly assistive products.

In addition, considerable increase in demand for assistive devices due to rise in trend of an independent lifestyle further fuels the market growth. Furthermore, increase in number of assistive devices manufacturers investing in the R&D activities of these technologies is estimated to boost 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 growth of the market. Conversely, an increase in proactiveness of people, rise in health consciousness, and surge in number of noncommunicable diseases among people are the factors anticipated to provide lucrative growth opportunities for the market.

Product Type Segment Review

Based on Elderly and Disabled Assistive Devices Market analysis, the type segment is classified into living aids, mobility assistive devices, bathroom safety equipment, and medical furniture. The mobility aids devices segment dominated the market in 2018 and is expected to maintain its dominance throughout the forecast period. This is attributed to the surge in advancements in mobility assistive device technology and rise in disabled & geriatric population requiring mobility assistance. Moreover, surge in number of accidents in past few years and thereby, rise in people requiring mobility assistive devices propels the market growth. 

elderly-and-disabled-assistive-devices-market-by-type-1563795454

Increase in mobility impairment disorders including amputation, paralysis, spinal cord injury, cerebral palsy, multiple sclerosis, stroke, and others is anticipated to further boost the market growth for mobility assistive devices in the near future. For instance, according to Centers for Disease Control and Prevention, in 2017, number of adults unable (or very difficult) to walk a quarter mile were 17.6 million and number of adults with any physical functioning difficulty were 38.2 million. Further, at present, several mobility assistive devices are easily available to help the individuals suffering from mobility impairments such as powered wheelchairs, crutches, and other devices.

Elderly and Disabled Assistive Devices Market Segmentation  

Region Segment Review

Based on region, the global elderly and disabled assistive devices market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the market in 2018, accounting for the highest market share, and is anticipated to maintain this trend throughout the forecast period. This is attributed to the rise in demand for assistive devices, rise in geriatric population, and increase in focus on patient safety by the government.

elderly-and-disabled-assistive-devices-market-by-region-1563795483

Technological advancements and established distribution channels are the major factors that boost the growth of the elderly and disabled assistive devices market in this region. However, as per elderly and disabled assistive devices market forecast, Asia-Pacific is projected to register the highest growth rate from 2019 to 2026, owing to the increase in healthcare expenditure and improvements in healthcare infrastructure. Moreover, growth in disposable income and rise in awareness among people toward the availability & usage of assistive devices such as hearing aids, vision aids devices, powered wheelchairs, and various others are the factors anticipated to propel the market growth in near future.

The report provides a comprehensive analysis of the leading companies operating in the global elderly and disabled assistive devices market such as AI Squared, Drive Medical, GN Resound Group, Invacare, Nordic Capital (Sunrise Medical LLC), Pride Mobility Products Corporation, Siemens Ltd., Sonova Holding AG, Starkey hearing technologies, William Demant Holding A/S. The other players (not profiled in the report) include Bausch & Lomb, Inc., Inclusive Technology Ltd., Liberator Ltd., Tobii Dynavox, JABBLA B.V.B.A., Blue Chip Medical Type, Inc., Permobil AB, Medline Industries, Inc., and Whirlpool Corporation.

Key Benefits for Stakeholders

  • This report provides a detailed quantitative analysis of the current elderly and disabled assistive devices market trends and forecast estimations from 2019 to 2026, which assists to identify the prevailing elderly and disabled assistive devices market opportunities. 
  • Market analysis includes analysis of various regions, which is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.
  • A comprehensive analysis of factors that drive and restrain the growth of the global is provided.
  • The projections in this report are made by analyzing the current trends and future market potential from 2019 to 2026, in terms of value.
  • An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
  • Key market players within the elderly and disabled assistive devices market are profiled in this report and their strategies are analyzed thoroughly, which helps in understanding competitive outlook of the elderly and disabled assistive devices market.
 

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The development of advanced assistive devices such as motility scooters, powered wheelchairs, and patient mechanical lifts marks significant milestone in the growth of elderly and disabled assistive devices market. This is because these technologies aim to facilitate healthy independent living, improve quality of life, and limit healthcare costs by providing innovative, cost-effective solutions. In addition, significant rise in the adoption of these devices by elderly as ell as disabled individuals across the globe propels the market growth.

Emerging powerful and cost-effective technologies drive the elderly and disabled assistive devices market. Over the years, the market has witnessed tremendous development in the technologies of the medical devices. These technologies have evolved in terms of both performance and characteristics. Furthermore, rise in elderly population and significant increase in need of mobility assistive devices are the major factors contributing to the market growth in the near future.

Among regions, North America dominates the global elderly & disabled assistive devices market, owing to increase in incidence of mobility impairment disorders accompanied with ease of availability of these assistive devices contributes to the market growth in this region.

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FREQUENTLY ASKED QUESTIONS?

A. The total market value of Elderly and Disabled Assistive Devices Market is US $35,599 million by 2026.

A. The forcast period for Elderly and Disabled Assistive Devices Market is 2019 to 2026

A. The market value of Elderly and Disabled Assistive Devices Market in 2018 is $23,009 million.

A. Yes, Elderly and Disabled Assistive Devices companies are profiled in the report

A. The base year is 2018 in Elderly and Disabled Assistive Devices Market

A. AI Squared, Drive Medical, GN Resound Group, Invacare, Nordic Capital (Sunrise Medical LLC), Pride Mobility Products Corporation, Siemens Ltd., Sonova Holding AG

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