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Disabled and Elderly Assistive Technologies - Global Market Trajectory & Analytics

  • ID: 5028007
  • Report
  • May 2021
  • Region: Global
  • 376 pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Demant A/S
  • DRIVE MEDICAL
  • GN Hearing A/S
  • Invacare Corporation
  • MED-EL (Austria)
  • Ottobock SE & Co. KGaA
  • MORE

Global Disabled and Elderly Assistive Technology Market to Reach $32 Billion by 2026


Disabled and elderly assistive technologies pertain to the use of devices and software solutions to enable disabled and geriatric populations to decrease dependence on care givers and improve their quality of life. Assistive technologies include devices and technological solutions. Devices include traditional disability devices such as hearing aids, wheelchairs, and visual aids, as well as advanced solutions that aid in enabling disabled persons to lead more positive lives through increased control, security, and social participation. Growth in the market is being driven by rising elderly population, rising healthcare costs, and advances in technology. Technological advances have enabled assistive devices to be connected to healthcare networks, and is aiding the shift to home-based care. Moreover, assistive devices are becoming smart and can automatically trigger alarms to emergency services and/or caregivers in case of adverse events.

Amid the COVID-19 crisis, the global market for Disabled and Elderly Assistive Technology estimated at US$23.3 Billion in the year 2020, is projected to reach a revised size of US$32 Billion by 2026, growing at a CAGR of 5.6% over the analysis period. Communication Aids, one of the segments analyzed in the report, is projected to record a 5.6% CAGR and reach US$12.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Mobility Assistance segment is readjusted to a revised 6.4% CAGR for the next 7-year period. Communication Aids comprises devices and aids such as speech & writing therapy devices, hearing aids, and vision & reading aids. Rising desire among people with visual impairments to lead independent lives is leading to growing demand for assistive technologies such as reading machines, video magnifiers, voice recorders, braille translators, and others. For people with hearing impairments, assistive technologies such as hearing aids and assistive listening devices help in enabling communication. The need for seamless mobility among the elderly population is thus propelling demand for mobility assistance products such as wheelchairs, mobility scooters, crutches & canes, patient mechanical lift handling, and walkers & rollators among others.

The U.S. Market is Estimated at $12.5 Billion in 2021, While China is Forecast to Reach $2 Billion by 2026


The Disabled and Elderly Assistive Technology market in the U.S. is estimated at US$12.5 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$2 Billion by the year 2026 trailing a CAGR of 8.1% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.8% and 5.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR.

Assistive Furniture Segment to Reach $5.4 Billion by 2026


Assistive furniture comprises aids and devices such as medical beds, riser reclining chairs, railings & bar, and door openers among others. The aids are essential for enabling people with impaired motor functioning and balance to sit and stand safety. Positioning equipment for instance is essential to ensure equal distribution of body pressure without affecting movement. In the global Assistive Furniture segment, USA, Canada, Japan, China and Europe will drive the 5.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3.5 Billion in the year 2020 will reach a projected size of US$5 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$387.2 Million by the year 2026.

Select Competitors (Total 163 Featured) -

  • Demant A/S
  • DRIVE MEDICAL
  • GN Hearing A/S
  • Invacare Corporation
  • MED-EL (Austria)
  • NORDIC CAPITAL (SUNRISE MEDICAL LLC)
  • Ottobock SE & Co. KGaA
  • Permobil Group (Sweden)
  • Pride Mobility Products® Corporation
  • Sonova Holding AG
  • Starkey Hearing Technologies
  • Widex A/S
  • WS Audiology Denmark A/S
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Demant A/S
  • DRIVE MEDICAL
  • GN Hearing A/S
  • Invacare Corporation
  • MED-EL (Austria)
  • Ottobock SE & Co. KGaA
  • MORE
I. METHODOLOGY

II. EXECUTIVE SUMMARY
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of COVID-19 Pandemic and Looming Global Recession
  • Telecare: The Amalgamation of Technology and Health Care
  • Pandemic Compels Senior Care Facilities to Use Modern Technologies for Offering Better Care
  • An Introduction to Disabled and Elderly Assistive Technology
  • Global Market Outlook
  • Rise in Geriatric & Disabled Population Fuels Need for Assistive Technologies
  • Exhibit 1: Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
  • Exhibit 2: Elderly Population (65+ Years) as a % of Total Population by Developed, Less Developed and Least Developed Regions: 2019 & 2030
  • Exhibit 3: Life Expectancy at Birth in Years of People in Select Countries for 2020E
  • Recent Market Activity
  • Smart Assistive Technologies Emerge for the Elderly Population
  • Sustained Advancements in Assistive Technologies & Focus on R&D Efforts to Boost Adoption
  • Silver Tsunami Paves Way for a Spate of Innovations in Senior Care
  • Select Innovations in Disabled and Elderly Assistive Technologies
  • Senior-Friendly mHealth and Telehealth Technologies Facilitate Independent Living
  • Digital Inclusion of Elderly and Disabled: Critical for Success of Assistive Living Technologies
  • IoT Solutions to Improve Senior Care and Help Seniors Community Live Independent Life
  • Exhibit 4: World IoT Market: Number of Connected Devices (in Million) for Years 2016, 2018, 2020 and 2022
  • Rising Incidence of Physical Disabilities: A Grim Reality Driving Significance of Assistive Living Technologies
  • Exhibit 5: Percentage of Population with Disabilities by Age Group
  • A Review of Select Assistive Technologies for the Disabled
  • Increasing Incidence of Musculoskeletal Disorders and Chronic Medical Conditions Propels Market Growth
  • Osteoarthritis & Osteoporosis: Major Health Conditions Affecting Mobility in the Elderly
  • Exhibit 6: Global Osteoporosis Prevalence: Number of People with Osteoporosis in Millions by Select Country/Region for 2012 and 2022P
  • Exhibit 7: % of Women Affected by Osteoporosis
  • Obesity & Lifestyle Diseases Limit Mobility
  • Exhibit 8: World Diabetes and Population Statistics (2019, 2030 & 2045)
  • Exhibit 9: Obesity Prevalence Rate (%) in Select Countries for the Years 2019 and 2030P
  • Shift towards Home Healthcare Augurs Well for the Market
  • As Hearing Impairment Emerges as a Major Disability Especially among Elderly, Hearing Devices Provide Aid in Maintaining Independent Lifestyles
  • Exhibit 10: Number of People with Disabling Hearing Loss Worldwide in Million for the Years 2015 to 2050
  • Personal Mobility Devices: Need for Mobility Drives Market Growth
  • Exhibit 11: Global Personal Mobility Devices Market Breakdown (in %) by Product Type: 2020E
  • Favorable Trends in the Personal Mobility Devices Market Strengthen Market Prospects
  • Wheelchairs: Meeting Mobility Needs of the Elderly & Disabled for Personal, Social, and Professional Fulfillment
  • Exhibit 12: Global Wheelchairs Market Breakdown by Region/Country (in %): 2019
  • Powered Wheelchairs: Superior Attributes over Manual Wheelchairs Drive Demand
  • High-tech Wheelchairs for Spinal Cord Injury Patients
  • Stair Lifts: Enabling Easy Movement for Immobile Individuals
  • Design Modifications and Infrastructure Development in Care Facilities & Residences Propels Market
  • Rising Incidence of Cognitive Impairment Issues Drive Focus onto Assistive Speech Technology
  • Progressive Mobility: A Growing Area of Focus in Bed Design
  • Government Efforts to Improve Healthcare Infrastructure and Favorable Insurance Schemes Support Market
  • Exhibit 13: World Healthcare Expenditure (In US$ Trillion) for the Years for 2017, 2019, 2021 and 2023
  • Exhibit 14: Healthcare Expenditure as a % of GDP by Region for 2019
  • Challenges Confronting Disabled and Elderly Assistive Technology Market
III. MARKET ANALYSIS
  • Aging Demographics, Rise in People with Disabilities and Chronic Medical Conditions Support Adoption of Assistive Technologies
  • Exhibit 15: US Population by Age Group (in %) for 2018, 2030 & 2050
  • Exhibit 16: North American Aging Population (in Thousands) by Age Group: 1975-2050
  • Exhibit 17: Arthritis Prevalence (in Millions) in the US for Years 2015, 2020, 2025 and 2030
  • COVID-19 Pandemic Creating Strong Demand Growth Scenario for Telehealth Providers in the US
  • Trend towards Home Healthcare Augurs Well for Market Expansion
  • Growing Population of Americans Suffering from Hearing Loss Drives Need for Hearing Aids
  • Exhibit 18: Hearing Impaired Population (in Million) in the US for Years 2000-2020
  • Exhibit 19: Percentage Breakdown of Severe to Profound Hearing Impaired Population by Age Group in the US: 2019
  • Stair Lifts Emerge as a Critical Mobility Assistance Technology for the Elderly and Disabled
  • Market Overview
  • Exhibit 20: Aging Population in Japan: 65+ Individuals as % of Total Population for 2010-2019
  • Market Overview
  • Market Overview
  • Aging Population: A Key Driver of Market Growth
  • Exhibit 21: Elderly Population in Europe: 65+ People as % of Total Population in Select European Countries for 2019
  • India: Advancing Assistive Technologies for Disabled Individuals
IV. COMPETITION
  • Total Companies Profiled: 163
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Demant A/S
  • DRIVE MEDICAL
  • GN Hearing A/S
  • Invacare Corporation
  • MED-EL (Austria)
  • NORDIC CAPITAL (SUNRISE MEDICAL LLC)
  • Ottobock SE & Co. KGaA
  • Permobil Group (Sweden)
  • Pride Mobility Products® Corporation
  • Sonova Holding AG
  • Starkey Hearing Technologies
  • Widex A/S
  • WS Audiology Denmark A/S
Note: Product cover images may vary from those shown
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