Elderly and disabled assistive devices cater to the mobility and daily living needs of elderly and disabled population. Devices such as mobility aids, medical furniture, bathroom safety equipment, and communication aids help enhance independence and quality of life. The growing geriatric population prone to limited mobility and other age-related disabilities is creating robust demand for such assistive solutions. Advancements in material sciences and embedded technologies are facilitating development of lightweight, durable, and affordable assistive products. Additionally, favorable regulations and improving access to assistive technologies are encouraging adoption.
The global Elderly and Disabled Assistive Devices Market is estimated to be valued at US$ 27.77 Bn in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing adoption of assistive technologies is one of the key trends driving the elderly and disabled assistive devices market. Assistive devices powered by artificial intelligence (AI) and internet of things (IoT) offer enhanced functionality, ease of use, personalized care, remote monitoring, and connectivity. For instance, AI-powered robotic aids assist disabled individuals in performing daily living activities such as dressing, bathing, and cooking. Similarly, IoT-enabled devices track health vitals, medication schedules, and alert caregivers in case of emergencies. This allows elderly and disabled population to live independently with adequate supervision and support. Such advanced technological interventions are boosting the demand for assistive solutions, thereby fueling the market growth.
Segment Analysis
The global elderly and disabled assistive devices market is divided into mobility assistive devices, hearing aids, assistive products for low vision, and other assistive devices segments. The mobility assistive devices segment currently dominates the market due to the growing demand for products such as wheelchairs, mobility scooters, walkers, and rollators. The increasing cases of mobility impairment and dependence on others for daily activities among the elderly population is a key factor driving the demand for mobility assistive devices.
Key Takeaways
The global elderly and disabled assistive devices market is expected to witness high growth over the forecast period of 2023 to 2030. The growing geriatric population and rising cases of disability are major factors that are expected to drive the demand for assistive devices for the elderly and disabled. The global Elderly and Disabled Assistive Devices Market is estimated to be valued at US$ 27.77 Bn in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024-2030.
Regional analysis: North America currently accounts for the largest share of the global elderly and disabled assistive devices market due to advanced healthcare infrastructure and high acceptance of new technologies in the region. Europe is also a major market backed by supportive government policies and initiatives for disabled and elderly care. However, the market in Asia Pacific is anticipated to grow at the fastest pace during the forecast period supported by rising healthcare spending, growing elderly population, and increasing adoption of assistive devices.
Key players: Key players operating in the elderly and disabled assistive devices market include Sonova Holding AG, Bausch & Lomb, Inc., Permobil AB, and Siemens Healthcare. Sonova Holding AG is a leader in the hearing aids market with innovative product offerings. Bausch & Lomb, Inc. offers a wide range of products for low vision. Permobil AB is a major provider of advanced mobility equipment. Siemens Healthcare provides transformational medical technologies for diagnosis and treatment. Freedom Scientific, Inc. provides assistive technologies and adaptive equipment for visually impaired individuals.
No comments:
Post a Comment