Disabled and Elderly Assistive Technology Market Size, Trends and Insights By Service Type (mobility aids devices, Living aids devices, Medical furniture, Bathroom safety devices), By End User (Nursing homes, Home care, Hospitals, Assisted living facility), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030


Report Code: CMI18788

Published Date: September 2022

Pages: 220+

Category: Healthcare

Reports Description

According to Custom Market Insights (CMI), The Global Disabled and Elderly Assistive Technology Market Size was valued at USD 46.11 billion in 2021 and is expected to reach USD 51.21 billion in 2022, and is estimated to reach USD 66.84 billion by the end of 2030 at a CAGR of approximately 6.7% during the forecast period 2022-2030.

The disabled and elderly assistive technology market mainly aims to provide a better-quality life to the people in this category by making their life comfortable and easy. Several difficulties arise in the day-to-day activities of older adults with a partial or total disability that cannot be handled alone. Relying on some other person for every work becomes a matter of dependence which hampers the quality of life lived by the person. To deal with this difficulty of the people, key market players have introduced assistive technologies in the market that will assist the disabled and the elderly to conduct their day-to-day activities independently.

Disabled and Elderly Assistive Technology Market Size

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The huge number of people belonging to the geriatric population has helped the market to record considerable growth during the forecast period. The market is expected to see further growth resulting from the huge number of high-velocity accidents that are taking place in urban areas as a result of rapid modernization and the use of vehicles. Technical glitches and faults that assistive technologies and devices may cause prove to be a major challenge for market growth.

The people who are disabled and belong to the elderly age group cannot deal with such technical difficulties due to their limitations; hence, the market’s growth suffers greatly. The increasing competition among the key market players to introduce new technologies has helped the market record a great revenue return. The lack of disposable income available to the people hinders the market’s growth as they cannot afford to purchase such advanced technologies and devices. The restrictions laid by the government regarding the manufacturing sets of such devices and the tax imposed on them hinder the market’s growth tremendously. 

The outbreak of the pandemic had a considerable impact on the growth of this market. The healthcare sector source is strictly reserved for the patient suffering from an infection of COVID, which greatly hampered the market’s growth. Patients did not turn to the hospitals for regular follow-ups and checkups, which reduced the demanding supply of assistive devices. New lack of transportation facility and lockdowns imposed during the course of the pandemic, the demand and supply was disrupted to a great extent.

Growth Factors

With rapid modernization worldwide, lifestyle has greatly changed, which demands mobility. The elderly population and the ones who are disabled find it difficult to lead their life independently. The key market players solve this difficulty by introducing assistive devices and technologies. These technologies are developed to provide mobility to these people and grant them total independence.

Market leaders carry out rapid research and development programs or attract potential consumers. The availability of multiple facilities in the hospital has made it easy for the disabled to visit the health care Centers for regular follow-ups. Reimbursement facilities provided by the hospital help to cover the cost of these advanced technologies and devices, which greatly boosts the market’s size.

The facilities provided by the government to boost the healthcare sector has helped to reduce the cost of these devices to a certain extent. As these technologies and devices help the disabled and elderly regain mobility, employment has been granted to many in multiple sectors. The new innovative ideas the key market players implement attract potential consumers, and the market is foreseen to grow tremendously during the forecast period.

Segmental Insights

Segmentation of disabled and elderly assistive technology market based on Type

Based on type, the segment of mobility aids has emerged as the leading player in the market according to its number of shares. The rapidly increasing number of people who suffer from disabilities resulting from several diseases and their advancing age has helped to boost this segment to a great extent.

The increasing investments made by the government and the key market players to enhance the technologies and equipment used to assist the elderly and disabled have helped boost the market to a great extent. Rapid advancements have been observed in technology and devices for providing a quality life to people suffering from disabilities.

The government takes initiatives to support older people to provide them with a quality life. With the rapid advancements happening worldwide, the huge number of high-velocity accidents leads to more people with disabilities. The prevalence of multiple chronic diseases worldwide has also increased the number of people suffering from multiple disabilities. Congenital disorders have become a very common factor that led to disabled individuals all over the world.

The safety features inside the bathroom have also been considered a major opportunity for this segment. The key market players have introduced advanced technologies to provide maximum safety features inside bathrooms and toilets. The increasing focus on the quality of life has helped the market to show tremendous growth during the forecast period. Assistive devices have become an integral part of the life of older people who cannot support themselves and carry out their activities.

  • Segmentation of disabled and elderly assistive technology market based on End Users

Based on end-user, the segment of hospitals has become the leading market player, which resulted from the huge number of patients who visit this sector during medical conditions. The increasing number of high-velocity accidents occurring worldwide due to rapid modernization has emerged as a major reason for boosting the number of people suffering from disabilities.

Hospital admissions have increased to a great extent over the last few years, and this has become a major reason for the growth of this sector. Multiple disorders that might arise due to congenital abnormalities also proved to be a major driving force for the market’s growth. Diseases such as multiple sclerosis and cerebral palsy have emerged as the driving forces for boosting the market size to a great extent. A huge number of people visit a hospital sector in the event of an accident or a severe disease, which helps this segment show considerable growth over time.

The increasing demand for wheelchairs and mobility devices that help disabled individuals has greatly fueled the market’s size. Multiple mobility devices used in the hospital sector to transfer a patient from one word to another prove to be another great reason for the market’s growth.

Disabled and Elderly Assistive Technology Market (By Service Type)

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On the other hand, the home care segment emerged among the rapidly growing segments, resulting from the huge geriatric population. The rapid adoption of assistive devices for disabled individuals has helped the market to show tremendous growth. 

Individuals suffering from permanent disabilities require assistive devices even in the vicinity of their homes, and hence this technology becomes very important for making these people independent. The higher expenditure made on the healthcare industry by the government of various countries Has helped boost the economy of the disabled and elderly assistive devices market. The increasing rates of healthcare facilities worldwide have greatly challenged the market’s growth. But the availability of various healthcare facilities such as health insurance which provides reimbursement to the patients, proves to be a major relief for the disabled and older people

Report Scope

Feature of the Report Details
Market Size in 2021 USD 46.11 Billion
Projected Market Size in 2030 USD 66.84 Billion
CAGR Growth Rate 6.7% CAGR
Base Year 2021
Forecast Period 2022-2030
Prominent Players Sunrise Medical LLC, Starkey Hearing Technologies, GN ReSound Group, Sonova Holding AG, William Demant Holding A/S, and Others
Key Segment By Service Type, End User, and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Regional Insights

Based on geography, the region of North America has emerged as the largest market for elderly and disabled assistive devices. The huge number of people belonging to the geriatric population has helped the market to show tremendous growth during the forecast period.

The demand for assistive devices in this region is growing due to the modern lifestyle practices that encourage people to live in nuclear families. This leads to separating the elderly population into nursing homes where special care and services are provided to the people. These home care departments use assistive devices to make their work easier and more accurate.

The increasing advancements which are seen in the facilities provided by such home care places have attracted potential consumers and provided a boost to the size of the market. The disposable income available to the people is quite high in this region, making it possible for them to opt for such advanced technologies and devices. Key market players in this region provide better facilities and hence support the market’s growth to a great extent.

The region of Asia Pacific has emerged as the fastest market, making a considerable contribution to the economy. The increasing number of people in the geriatric age group has facilitated this growth. The existence of non-communicable diseases among many people in society has also proved to be a major opportunity for market growth. The increasing prevalence of high-velocity accidents in this region has boosted the number of people belonging to the disabled category.

Disabled and Elderly Assistive Technology Market (trends by region)

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The requirement for assistive devices to provide mobility to these people help the elderly and disabled assistive devices market to record considerable growth. The advanced facilities provided by the healthcare system have penetrated society to a great extent, and this rapid awareness regarding the facilities has proved to be a major opportunity for the market’s growth.

Recent Developments

  • Invacare Aviva storm Rx introduced an RWD integrated wheelchair controlled with the help of an electronic system. This can be used outdoors and indoors. 

Key Players

  • Sunrise Medical LLC
  • Starkey Hearing Technologies
  • GN ReSound Group
  • Sonova Holding AG
  • William Demant Holding A/S

Segments covered under the report

By Service Type

  • mobility aids devices
  • Living aids devices
  • Medical furniture
  • Bathroom safety devices

By End User

  • Nursing homes
  • Home care
  • Hospitals
  • Assisted living facility

On the basis of Geography

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Disabled and Elderly Assistive Technology Market, (2022 – 2030) (USD Billion)
    • 2.2 Global Disabled and Elderly Assistive Technology Market : snapshot
  • Chapter 3. Global Disabled and Elderly Assistive Technology Market – Industry Analysis
    • 3.1 Disabled and Elderly Assistive Technology Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Rapid Modernization
      • 3.2.2 Lifestyle Has Greatly Changed
      • 3.2.3 Demands Of Mobility
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Service Type
      • 3.7.2 Market attractiveness analysis By End User
  • Chapter 4. Global Disabled and Elderly Assistive Technology Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Disabled and Elderly Assistive Technology Market: company market share, 2021
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Disabled and Elderly Assistive Technology Market – Service Type Analysis
    • 5.1 Global Disabled and Elderly Assistive Technology Market overview: By Service Type
      • 5.1.1 Global Disabled and Elderly Assistive Technology Market share, By Service Type, 2021 and 2030
    • 5.2 mobility aids devices
      • 5.2.1 Global Disabled and Elderly Assistive Technology Market by mobility aids devices, 2022 – 2030 (USD Billion)
    • 5.3 Living aids devices
      • 5.3.1 Global Disabled and Elderly Assistive Technology Market by Living aids devices, 2022 – 2030 (USD Billion)
    • 5.4 Medical furniture
      • 5.4.1 Global Disabled and Elderly Assistive Technology Market by Medical furniture, 2022 – 2030 (USD Billion)
    • 5.5 Bathroom safety devices
      • 5.5.1 Global Disabled and Elderly Assistive Technology Market by Bathroom safety devices, 2022 – 2030 (USD Billion)
  • Chapter 6. Global Disabled and Elderly Assistive Technology Market – End User Analysis
    • 6.1 Global Disabled and Elderly Assistive Technology Market overview: By End User
      • 6.1.1 Global Disabled and Elderly Assistive Technology Market share, By End User, 2021 and 2030
    • 6.2 Nursing homes
      • 6.2.1 Global Disabled and Elderly Assistive Technology Market by Nursing homes, 2022 – 2030 (USD Billion)
    • 6.3 Home care
      • 6.3.1 Global Disabled and Elderly Assistive Technology Market by Home care, 2022 – 2030 (USD Billion)
    • 6.4 Hospitals
      • 6.4.1 Global Disabled and Elderly Assistive Technology Market by Hospitals, 2022 – 2030 (USD Billion)
    • 6.5 Assisted living facility
      • 6.5.1 Global Disabled and Elderly Assistive Technology Market by Assisted living facility, 2022 – 2030 (USD Billion)
  • Chapter 7. Disabled and Elderly Assistive Technology Market – Regional Analysis
    • 7.1 Global Disabled and Elderly Assistive Technology Market Regional Overview
    • 7.2 Global Disabled and Elderly Assistive Technology Market Share, by Region, 2021 & 2030 (USD Billion)
  • Chapter 8. Company Profiles
List Of Figures
  • 1. Market research Type
  • 2. Market research methodology
  • 3. Global Disabled and Elderly Assistive Technology Market, 2022 – 2030 (USD Billion)
  • 4. Porter’s Five Forces Analysis
  • 5. Global Disabled and Elderly Assistive Technology Market attractiveness, By Service Type
  • 6. Global Disabled and Elderly Assistive Technology Market attractiveness, By End User
  • 7. Global Disabled and Elderly Assistive Technology Market share by Service Type, 2022 and 2030 (USD Billion)
  • 8. Global Disabled and Elderly Assistive Technology Market by mobility aids devices, 2022 – 2030 (USD Billion)
  • 9. Global Disabled and Elderly Assistive Technology Market by Living aids devices, 2022 – 2030 (USD Billion)
  • 10. Global Disabled and Elderly Assistive Technology Market by Medical furniture, 2022 – 2030 (USD Billion)
  • 11. Global Disabled and Elderly Assistive Technology Market by Bathroom safety devices, 2022 – 2030 (USD Billion)
  • 12. Global Disabled and Elderly Assistive Technology Market share by End User, 2022 and 2030 (USD Billion)
  • 13. Global Disabled and Elderly Assistive Technology Market by Nursing homes, 2022 – 2030 (USD Billion)
  • 14. Global Disabled and Elderly Assistive Technology Market by Home care, 2022 – 2030 (USD Billion)
  • 15. Global Disabled and Elderly Assistive Technology Market by Hospitals, 2022 – 2030 (USD Billion)
  • 16. Global Disabled and Elderly Assistive Technology Market by Assisted living facility, 2022 – 2030 (USD Billion)
  • 17. Global Disabled and Elderly Assistive Technology Market share, by Region, 2022 and 2030
List Of Tables
  • 1. Global Disabled and Elderly Assistive Technology Market: Snapshot
  • 2. Drivers of the Disabled and Elderly Assistive Technology Market: impact analysis

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2028
  • Market revenue estimates and forecasts up to 2028, by technology
  • Market revenue estimates and forecasts up to 2028, by application
  • Market revenue estimates and forecasts up to 2028, by type
  • Market revenue estimates and forecasts up to 2028, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Key Players

  • Sunrise Medical LLC
  • Starkey Hearing Technologies
  • GN ReSound Group
  • Sonova Holding AG
  • William Demant Holding A/S

FAQs

“North America” region will lead the global Disabled and Elderly Assistive Technology market during the forecast period 2022 to 2030.

The key factors driving the market is Rapid Modernization, Lifestyle Has Greatly Changed, Demands Of Mobility

 

.

The key players operating in the Disabled and Elderly Assistive Technology market are Sunrise Medical LLC, Starkey Hearing Technologies, GN ReSound Group, Sonova Holding AG, William Demant Holding A/S.

The global Disabled and Elderly Assistive Technology market is expanding growth with a CAGR of approximately 6.7% during the forecast period (2022 to 2030).

The global Disabled and Elderly Assistive Technology market size was valued at USD 46.11 Billion in 2021 and it is projected to reach around USD 66.84 Billion by 2030.

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