According to the most recent analysis by Emergen Research, the size of the U.S. assistive technology (AT) market for people with disabilities was USD 8,374.2 million in 2021 and is projected to grow at a revenue CAGR of 10.6% during the forecast period. Major factors influencing market revenue growth between 2022 and 2030 include the rising incidence of visual, cognitive, auditory, and mobility-related issues in geriatric people as well as the rising number of government initiatives to improve the quality of life for people with disabilities.
Growth Factor:
Due to the growing demand for technologically advanced assistive devices around the world, manufacturers of devices for the elderly and disabled are predicted to make enormous profits. The market for assistive devices for the elderly and disabled is anticipated to be primarily driven by the rapidly expanding geriatric population around the world and the rising disabilities caused by various diseases and ageing. Due to the lucrative market opportunities, the number of manufacturers in the market for assistive devices for the elderly and disabled is rapidly growing. Mobility scooters, hearing aids, wheelchairs, vision and reading aids, and bathroom safety equipment are just a few of the elderly and disabled assistive devices that are in high demand.
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These tools assist the user in performing daily tasks like walking, reading, listening, and taking a shower. The primary factors anticipated to propel the growth of the global elderly and disabled assistive devices market are manufacturers’ increasing focus on developing disabled assistive devices using cutting-edge technologies and increasing investments in improving the ergonomics of the devices.
The prevalence of assistive technologies (AT), which include tools, modalities, and platforms specifically created to help patients with mobility, cognitive, behavioural, or visual impairments function, has grown significantly over time. According to statistics from the Centers for Disease Control and Prevention (CDC), 1 in every 4 Americans, or over 61 million people, has a disability that significantly limits their ability to carry out daily tasks. The CDC has also made additional observations and linked a rise in the prevalence of disabilities to a fall in income. Additionally, an increase in research projects looking for low-cost technologies to help patients with disabilities is anticipated to boost demand for assistive technology modalities over the next few years and significantly fuel market revenue growth.
Major companies in the market report include AssistiveWare, Attainment Company, Control Bionics, Daedalus Technologies, Double Robotics, Don Johnston Inc., School Health, Freedom Scientific, Hamilton CapTel, and HumanWare.
Some Significant Report Highlights
In terms of revenue, the assistive technology for disabilities market in the United States in 2021 was dominated by the mobility impairments segment. The continued use of wheelchairs in hospitals, nursing homes, and other institutions as well as the quick development of electronic joystick-controlled wheelchairs due to technological advancements are the main drivers of this market’s revenue growth. Approximately one in seven people, or over 34 million people, have mobility-related disorders, with every second patient being over 65 years old, according to the Centers for Disease Control and Prevention (CDC).
Between 2022 and 2030, the blindness and low vision market is anticipated to experience consistent revenue growth. A few of the factors driving this segment’s revenue growth are the rising prevalence of vision-related issues in the geriatric population pool, the expansion of government initiatives, rising public awareness of assistive technology for the blind, and technological advancements. For example, Eyedaptic, Inc., a provider of natural vision software, declared in June 2021 that EYE3, an updated and improved version of its eyewear solution, is now available to assist those with retinal-related vision issues like Age-related Macular Degeneration (AMD).
During the forecast period, the special education segment is anticipated to experience rapid CAGR growth. Some of the main factors influencing this segment’s revenue growth are public and private initiatives to support the development of national policies and education programmes using assistive technologies and devices, as well as the development of human resources and education for people with disabilities.
Control Bionics announced a partnership with Double R&D on April 11, 2022, in order to introduce NeuroNode technology in Japan. In order to broaden its regional reach and connect with more patients in this area, the former company and the latter company have signed a contract. Patients with illnesses like ALS, cerebral palsy, intellectual disability, traumatic brain injuries, and strokes can benefit most from the technology. According to this agreement, Double R&D will be Control Bionics’ sole distributor in Japan, and orders will be fulfilled according to product costs.
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The assistive technology market in the United States has been divided into segments by device type, indication, distribution method, end-use, and geography by Emergen Research:
- Device Type Outlook (Revenue, USD Million, 2019 – 2030)
- Mobility Impairments
- Wheelchairs
- Transfer Devices
- Walkers
- Prosthesis
- Visual Impairments
- Screen Readers
- Braille and Braille Embossers
- Refreshable Braille Display
- Wearable Technology
- Other
- Hearing Impairment Devices
- Hearing Aids
- Assistive Listening Devices
- Amplified Telephone Equipment
- Cognitive Impairments
- Memory Aids
- Educational Software
- Speech Impairments
- Other Device Types
- Mobility Impairments
- Indication Outlook (Revenue, USD Million, 2019 – 2030)
- Autism Spectrum Disorders
- Blindness and Low Vision
- Deafness and Hard of Hearing
- Computer Access Problems
- Communication Disorders
- Mobility Impairment
- Cognitive Disabilities
- Distribution Channel Outlook (Revenue, USD Million, 2019 – 2030)
- Online
- Company Website
- Third-party Website
- Offline
- Direct
- Indirect
- End-User Outlook (Revenue, USD Million, 2019 – 2030)
- Hospital/Clinics
- Special Education
- Veterans Administration
- Home and Community-based Services
- Federal/State Government (Disability and Older Adults)
- Rehabilitation and Training Programs
- Online
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