Global Disabled and Elderly Assistive Technology Market 2024 – 2033

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.

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 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.

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

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.

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
  • Wheelchairs
  • Mobility Scooters
  • Cranes & Crutches
  • Walkers & Rollators
  • Transfer Lifts
  • Door Openers
  • Others (Cushions, Pillow, and Back Support)
• Living Aids Devices
  • Reading and Vision Aids
    • Video Magnifiers
    • Braille Translators
    • Reading Machines
    • Others (Books and Kitchen Appliances)
  • Hearing Aids
    • Receiver-in-the-Ear (RITE) Aids
    • Behind-the-Ear (BTE) Aids
    • In-the-Ear (ITE) Aids
    • Canal Hearing Aids
    • Bone Anchored Hearing Aids (BAHA)
    • Cochlear Implants
• Medical Furniture
  • Medical Beds
  • Medical Furniture Accessories
  • Door Openers
  • Others
• Bathroom Safety Devices
  • Commodes
  • Bars, Grips, and Rails
  • Shower Chairs
  • Ostomy Products

By End User

• Hospitals
• Nursing Homes
• Assisted Living Facilities
• Homecare

On the basis of Geography

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• 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