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In 2022, the global market for assistive technologies was worth USD 21.99 Billion, and by 2030, that number is expected to rise to USD 31.27 Billion. Over the course of the next few years, the global market is expected to expand at a CAGR of 5.50 percent.
Helping people with disabilities gain, maintain, or improve their functional abilities is the primary goal of Assistive Technology. Clinics, hospitals, home care, and other end-users can benefit from the proliferation of technologically advanced assistive equipment, solutions, and services provided by a variety of organisations. Persons with chronic health issues, people with disabilities, and the elderly are just some of the groups who could benefit from having access to assistive technologies in order to improve their physical and emotional well-being. Furthermore, both disabled and elderly patients benefit from the use of different gadgets and technology to help them with all of life's demands, making their lives more tranquil, easy, and autonomous.
Assistive technology is any piece of equipment that a person with a disability uses to keep or increase a skill that would otherwise be challenging to do. Because of the benefits that assistive technology provides to people with mobility and independence issues, the market is expected to expand in the coming years. According to the World Health Organisation (WHO), the increase in the global elderly population and the prevalence of chronic diseases would necessitate the use of assistive technologies such as hearing aids, wheelchairs, and memory aids by more than 2 billion people by the year 2030.
Over the projected period, the assistive technology market is expected to be driven by the rising prevalence of orthopaedic and neurological ailments. For instance, the Neurological Alliance estimates that there will be 14.7 million occurrences of neurological disorders in 2019. At least 1 in 6 persons suffer from a neurological disorder that causes learning difficulties, epilepsy, etc. Assistive technology aids in enhancing muscular activity and decreasing weight-bearing strain, both of which contribute to the expansion of the market. However, it is expected that the higher cost of assistive technology may limit the market's expansion over the projection period. The market will not expand at its current rate because of the poor acceptability of assistive goods in emerging countries. For example, in 2018, the World Health Organisation (WHO) reports that due to the high price and a lack of awareness, policy, and funding, just one in ten persons who require it have access to assistive technology.
The hospital industry will play a crucial role in the expansion of the market in the coming years. This is because there are more people needing them as a result of a growth in the global incidence of accidents, a huge number of admitted patients, and an ageing population. Increase in the segment is also being driven by the need for medical beds, recliner chairs, transferring lifts, and patient mechanical lift handling in hospitals.
During the projected period, North America is expected to have a dominant position of the market. This area dominates the market for cognitive impairment assistive devices thanks to rising demand, an ageing population, and a government emphasis on patient safety. Furthermore, there has been a considerable rise in demand for Assistive Technology across a wide range of end-users, including schools and hospitals specialising in Assistive Technology. Physicians' increasing reliance on stroke adapted equipment to mitigate the effects of stroke is anticipated to drive demand for stroke assistive devices and fuel growth in the stroke assistive devices industry. The market for aids for the elderly and the crippled is expected to grow rapidly, especially in Latin America.
Report Coverage
Global Assistive Technology research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Assistive Technology report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Assistive Technology competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Assistive Technology market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Assistive Technology market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Assistive Technology market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Demant AS, GF Health Products Inc., GN Store Nord AS, Invacare Corp., Medical Depot Inc., Medline Industries Inc. Nordic Capital, Pride Mobility Products Corp. and others
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Assistive Technology market based on the below-mentioned segments:
Global Assistive Technology Market, By Product Type
Mobility Aids
Hearing Aids and Vision
Reading Aids
Sensory Aids
Others
Global Assistive Technology Market, By End User
Hospitals
Home Care Settings
Others
Global Assistive Technology market, Regional Analysis
Helping people with disabilities gain, maintain, or improve their functional abilities is the primary goal of Assistive Technology. Clinics, hospitals, home care, and other end-users can benefit from the proliferation of technologically advanced assistive equipment, solutions, and services provided by a variety of organisations. Persons with chronic health issues, people with disabilities, and the elderly are just some of the groups who could benefit from having access to assistive technologies in order to improve their physical and emotional well-being. Furthermore, both disabled and elderly patients benefit from the use of different gadgets and technology to help them with all of life's demands, making their lives more tranquil, easy, and autonomous.
Assistive technology is any piece of equipment that a person with a disability uses to keep or increase a skill that would otherwise be challenging to do. Because of the benefits that assistive technology provides to people with mobility and independence issues, the market is expected to expand in the coming years. According to the World Health Organisation (WHO), the increase in the global elderly population and the prevalence of chronic diseases would necessitate the use of assistive technologies such as hearing aids, wheelchairs, and memory aids by more than 2 billion people by the year 2030.
Over the projected period, the assistive technology market is expected to be driven by the rising prevalence of orthopaedic and neurological ailments. For instance, the Neurological Alliance estimates that there will be 14.7 million occurrences of neurological disorders in 2019. At least 1 in 6 persons suffer from a neurological disorder that causes learning difficulties, epilepsy, etc. Assistive technology aids in enhancing muscular activity and decreasing weight-bearing strain, both of which contribute to the expansion of the market. However, it is expected that the higher cost of assistive technology may limit the market's expansion over the projection period. The market will not expand at its current rate because of the poor acceptability of assistive goods in emerging countries. For example, in 2018, the World Health Organisation (WHO) reports that due to the high price and a lack of awareness, policy, and funding, just one in ten persons who require it have access to assistive technology.
The hospital industry will play a crucial role in the expansion of the market in the coming years. This is because there are more people needing them as a result of a growth in the global incidence of accidents, a huge number of admitted patients, and an ageing population. Increase in the segment is also being driven by the need for medical beds, recliner chairs, transferring lifts, and patient mechanical lift handling in hospitals.
During the projected period, North America is expected to have a dominant position of the market. This area dominates the market for cognitive impairment assistive devices thanks to rising demand, an ageing population, and a government emphasis on patient safety. Furthermore, there has been a considerable rise in demand for Assistive Technology across a wide range of end-users, including schools and hospitals specialising in Assistive Technology. Physicians' increasing reliance on stroke adapted equipment to mitigate the effects of stroke is anticipated to drive demand for stroke assistive devices and fuel growth in the stroke assistive devices industry. The market for aids for the elderly and the crippled is expected to grow rapidly, especially in Latin America.
Report Coverage
Global Assistive Technology research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Assistive Technology report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Assistive Technology competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Assistive Technology market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Demant AS, GF Health Products Inc., GN Store Nord AS, Invacare Corp., Medical Depot Inc., Medline Industries Inc. Nordic Capital, Pride Mobility Products Corp. and others |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Assistive Technology Market from 2021 to 2030.
- Market Forecast for Assistive Technology Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Assistive Technology competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Assistive Technology
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Assistive Technology market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Assistive Technology market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Demant AS, GF Health Products Inc., GN Store Nord AS, Invacare Corp., Medical Depot Inc., Medline Industries Inc. Nordic Capital, Pride Mobility Products Corp. and others
Primary Target Market
- Market Players of Assistive Technology
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Assistive Technology market based on the below-mentioned segments:
Global Assistive Technology Market, By Product Type
Mobility Aids
Hearing Aids and Vision
Reading Aids
Sensory Aids
Others
Global Assistive Technology Market, By End User
Hospitals
Home Care Settings
Others
Global Assistive Technology market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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