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Disabled and Elderly Assistive Technologies Market Forecast
Disabled and Elderly Assistive Technologies Market Size, Share, Trend, Forecast, & Competitive Analysis: 2022-2028
Disabled and Elderly Assistive Technologies Market, By Product (Medical Mobility Aids and Ambulatory Devices, Assistive Furniture, Bathroom Safety, and Assistive Products, Communication Aids, Activity Monitors, Location Monitors, Others), End-User (Hospitals, Elderly Nursing Homes, Homecare, Others), and Region - COVID-19 Impact Analysis and Forecast to 2028.
This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global Disabled and Elderly Assistive Technologies market. The historic years considered for the study are 2016-2020, the base year is 2021, and the forecast period is 2022-2028.
The Disabled and Elderly Assistive Technologies market is projected to grow from USD 44.26 billion in 2021 to USD 64.1 billion by 2028 at a CAGR of around 5.39% during the forecast period of 2022-2028.
The disabled & elderly assistive technologies consist of several devices which are aimed at providing improved quality of life and enhancing accessibility to disabled & geriatric patients. These devices can also be utilized by people who are not self-dependant. It aids the aged population to read, listen, move, and conduct other routine activities.
The growth of the disabled and elderly assistive technologies market is primarily driven by expanding geriatric populace across the geographies. Increasing spending on healthcare with rising consumer awareness coupled with rising per capita disposable income is expected to propel the market growth at a significant rate during the review period. Additionally, surging demand for advanced assistive technologies based devices is likely to create lucrative opportunities for the market players during the review period.
The outbreak of the COVID-19 virus has affected the growth of the healthcare industry significantly. Stringent lockdown measures and restricted movement of people affected the product supply for a short period and thus, affected the market growth.
Key players operating in the Disabled and Elderly Assistive Technologies market are-
Here is the list of the group of customers that the disabled and elderly assistive technologies market hopes to have the greatest opportunity to convert-
By end-user, the disabled and elderly assistive technologies market has been bifurcated into hospitals, elderly nursing homes, home care, and others. Under these, the hospitals' segment accounted for the largest market share in 2021 and is projected to register significant growth during the review period. The segment growth can be attributed to the presence of required healthcare infrastructure and skilled healthcare staff. The product demand is expected to increase substantially in the elderly nursing homes segment.
By region, the market in North America accounted for the largest market share in 2021 and is projected to grow at a significant CAGR during the assessment period. The regional growth is primarily attributed to expanding geriatric populace and the presence of key market players such as Blue Chip Medical Products (US) and Liberator (US). The market growth in the Asia-Pacific region is expected to be driven by rising product adoption in developing countries, particularly China and India.
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The market is segmented in the following ways:
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The disabled and elderly assistive technologies market is expected to witness an impressive growth of 5.39% CAGR in the coming years.
Blue Chip Medical Products (US), Inclusive Technology (UK), Liberator (US), Permobil (US), Ex-act Dynamics B.V. (Netherlands), DynaVox (US), Jabbla (Belgium), Bausch + Lomb (US), Medline Industries, Inc. (US) and Whirlpool Corporation (US) are among the key players in the disabled and elderly assistive technologies market.
The disabled and elderly assistive technologies market size is expected to reach USD 64.1 billion in 2028.
The hospitals' segment is expected to register significant growth in the disabled and elderly assistive technologies market in the coming years.
North America accounted for the largest share in the disabled and elderly assistive technologies market in 2021.
Disabled and elderly assistive technologies distributors, Disabled and elderly assistive technologies suppliers, Disabled and elderly assistive technologies manufacturers, Logistics organizations, Government bodies are the target audience in the disabled and elderly assistive technologies market.
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