Disabled and Elderly Assistive Technology Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2030

The report on the global disabled and elderly assistive technology market provides qualitative and quantitative analysis for the period from 2021-2030. The global disabled and elderly assistive technology market was valued at USD 48.68 billion in 2022 and is expected to reach USD 86.91 billion in 2030, with a CAGR of 6.55% during the forecast period 2023-2030. The study on disabled and elderly assistive technology market covers the analysis of the leading geographies such as North America, Europe, Asia Pacific, and RoW for the period of 2021-2030.

Disabled and elderly assistive technology, often referred to as assistive devices or adaptive technology, encompasses a wide range of tools, devices, and software designed to assist individuals with disabilities and older adults in their daily lives. These technologies aim to improve independence, mobility, communication, and overall quality of life for those who may face physical, sensory, cognitive, or age-related challenges. The Disabled and elderly assistive technology market has a diversity of needs within the disabled and elderly populations. Some individuals may require assistive technology for mobility, while others may need communication aids, sensory support, or assistance with activities of daily living. The scope of assistive technology for disabled and elderly individuals is continually expanding as technology advances and the needs of the population evolve. It encompasses a wide array of tools and solutions that aim to enhance independence, improve quality of life, and promote inclusion for individuals with diverse abilities and older adults.

The disabled and elderly assistive technology market is driven by the growing aging population. The global population is aging, leading to an increased demand for solutions that cater to the needs of older adults. As more people enter their senior years, there is a greater focus on technologies that enhance their independence and quality of life. Moreover, the surging prevalence of disabilities is also responsible for market growth. Disabilities, whether acquired through aging, accidents, or medical conditions, affect a significant portion of the population. Assistive technology serves as a valuable resource for improving the daily lives of those living with disabilities. However, the difficulty of handling this assistive technology may act as a significant barrier to the market. Advanced healthcare facilities provided to patients by the government present a significant opportunity for this market.

North America is expected to dominate the disabled and elderly assistive technology market. North America's dominance in the disabled and elderly assistive technology market can be attributed to several key factors such as strong technological infrastructure, significant investment in research and development, and a substantial aging population. North America boasts a robust technological infrastructure, with a high level of innovation and development in the tech sector. This technological prowess enables the region to lead in the creation and advancement of assistive technologies. Moreover, North American countries, particularly the United States and Canada, invest significantly in Research and Development (R&D) across various sectors, including healthcare and assistive technology. Government-funded initiatives and collaborations between academia and industry drive innovation. Additionally, North America has a substantial aging population, with a significant number of elderly individuals requiring assistive technology solutions. The demand for these technologies is driven by the aging demographic, prompting companies to develop and market relevant products and services. Asia-Pacific is, projected as the fastest growing region owing to the increase in healthcare expenditure and improvements in healthcare infrastructure.

Report Findings

1) Drivers

• The disabled and elderly assistive technology market is driven by the growing aging population.
• The surging prevalence of disabilities is also responsible for market growth.

2) Restraints

• The difficulty of handling this assistive technology may act as a significant barrier to the market.

3) Opportunities

• Advanced healthcare facilities provided to patients by the government present a significant opportunity for this market.

Research Methodology

A) Primary Research

The primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents.

The primary respondents approached include:

1. Key Opinion Leaders
2. Internal and External subject matter experts
3. Professionals and participants from the industry

The primary research respondents typically include:

1. Executives working with leading companies in the market under review
2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/country managers
5. Vice President level executives.

B) Secondary Research

Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. Each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.

The secondary sources of the data typically include:

1. Company reports and publications
2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies

Segments Covered

The global disabled and elderly assistive technology market is segmented on the basis of product, and end user.

The Global Disabled and Elderly Assistive Technology Market by Product

• Activity Monitors
• Assistive Furniture
• Bathroom Safety and Assistive Products
• Communication Aids
• Location Monitors
• Medical Mobility Aids and Ambulatory Devices
• Others

The Global Disabled and Elderly Assistive Technology Market by End User

• Assisted Living Facilities
• Hospitals and Nursing Homes
• Home Care

Company Profiles

The companies covered in the report include:

• Demant A/S
• Sonova
• Permobil
• Bausch & Lomb Incorporated
• BLUE CHIP MEDICAL
• Freedom Scientific, Inc.
• GN Store Nord A/S
• Invacare Corporation
• Pride Mobility Products Corp.
• Starkey Laboratories, Inc.

What does this Report Deliver?

1. Comprehensive analysis of the global as well as regional markets of the disabled and elderly assistive technology market.

2. Complete coverage of all the segments in the disabled and elderly assistive technology market to analyze the trends, developments in the global market and forecast of market size up to 2030.

3. Comprehensive analysis of the companies operating in the global disabled and elderly assistive technology market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.

4. The Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.