Elderly and Disabled Assistive Devices Market Booms in Worldwide Health-care Industry with Healthy CAGR of 7.7% to reach US$ 31.3 BN till 2027 | Sunrise Medical LLC, GN ReSound Group, Sonova Holding AG, Starkey Hearing Technologies,

Overview

Assistive or custom-designed technologies refers to equipment, devices, instruments, or devices, whether obtained commercially, adapted or modified, which are used to effectively maintain, enhance or improve the abilities of disabled or physically limited individuals. This definition is inclusive of devices and equipment for communication purposes with the deaf or for development, testing, maintenance, repair, modification, installation, and operation of assistive facilities or items.

The global elderly and disabled assistive devices market was valued at US$ 16,141.4 million in 2018 and is projected to expand at a CAGR of 7.7% during the forecast period (2019–2027).

Global Elderly and Disabled Assistive Devices Market: Drivers  

High prevalence of disability is expected to propel growth of the global elderly and disabled assistive devices market over the forecast period. For instance, in the U.S., the rate of disability among people of ages 18-64 years was 10.5% and for people ages above 65 rate has increased to 35.4%, according to a report published by Rehabilitation Research and Training Center on Disability Statistics and Demographics in 2016.

Recent Developments

Major players operating in the global elderly and disabled assistive devices market are focused on launching new products to expand their product portfolio. For instance, in 2016, Sunrise Medical LLC launched QM-7 SEDEO ERGO power wheelchair.

𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐏𝐃𝐅 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐑𝐞𝐩𝐨𝐫𝐭: (𝐈𝐧𝐜𝐥𝐮𝐝𝐢𝐧𝐠 𝐅𝐮𝐥𝐥 𝐓𝐎𝐂, 𝐋𝐢𝐬𝐭 𝐨𝐟 𝐓𝐚𝐛𝐥𝐞𝐬 & 𝐅𝐢𝐠𝐮𝐫𝐞𝐬, 𝐂𝐡𝐚𝐫𝐭) @ https://www.coherentmarketinsights.com/insight/request-pdf/82

Covid-19 Impact Analysis:

Globally, as of 5:48pm CET, 30 November 2021, there have been 261,435,768 confirmed cases of COVID-19, including 5,207,634 deaths, reported to WHO. As of 29 November 2021, a total of 7,772,799,316 vaccine doses have been administered. The COVID-19 pandemic has highlighted the need for remote management of health. The use of assistive technology may play a major role with the sustainability of health/social care provision by promoting shared care between the care provider and service user.

Key Takeaways

Hearing aids segment dominates the global elderly and disabled assistive devices market (in terms of revenue) and is expected to reach US$ 7,083.5 million by 2017 end.

North America held dominant position in the global elderly and disabled assistive devices market in 2015.

The market for elderly and disabled assistive devices in Asia Pacific is projected to expand significantly at a CAGR of 8.9% during the forecast period (2019–2027)

𝐓𝐨 𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐋𝐚𝐭𝐞𝐬𝐭 𝐂𝐨𝐯𝐢𝐝𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 @ https://www.coherentmarketinsights.com/insight/request-sample/82

Market Trends:

Asia Pacific is expected to witness significant growth in the global elderly and disabled assistive devices market, owing to increasing geriatric population in the region. For instance, according to The United Nations Economic and Social Commission for Asia and the Pacific, over a third of the population in Asia Pacific is expected to be 60 years or older by 2050.

Global Elderly and Disabled Assistive Devices Market: Competitive Landscape

Major players operating in the global elderly and disabled assistive devices market include, GN ReSound Group, Sunrise Medical LLC, Sonova Holding AG, Starkey Hearing Technologies, and William Demant Holding A/S.

Global Elderly and Disabled Assistive Devices Market: Key Developments   

Major players operating in the global elderly and disabled assistive devices market are focused on launching new products to expand their product portfolio. For instance, in 2016, Melvin ApS launched a robot called Melvin, which aids elderly and disabled people in the toilet at the RoboBusiness Europe 2016 exhibition.