Disabled & Elderly Assistive Technology Market by Product (Activity Monitors, Assistive Furniture, Bathroom Safety & Assistive Products), End User (Assisted Living Facilities, Home, Hospitals & Nursing Homes) - Global Forecast 2024-2030

Disabled & Elderly Assistive Technology Market by Product (Activity Monitors, Assistive Furniture, Bathroom Safety & Assistive Products), End User (Assisted Living Facilities, Home, Hospitals & Nursing Homes) - Global Forecast 2024-2030

The Disabled & Elderly Assistive Technology Market size was estimated at USD 25.32 billion in 2023 and expected to reach USD 27.45 billion in 2024, at a CAGR 8.98% to reach USD 46.26 billion by 2030.

The disabled & elderly assistive technology market encompasses various products, services, and solutions designed specifically to enhance the quality of life, independence, accessibility, and overall well-being of disabled people and the elderly population. The increasing aging population across the globe necessitates advanced tools to support independent living among seniors prone to developing age-related disabilities. Moreover, rising awareness about disabled people's rights has led governments worldwide to implement supportive policies that promote accessibility initiatives in public spaces. However, high costs associated with state-of-the-art assistive technology may deter some consumers, in developing regions, from obtaining the assistive product. Additionally, a lack of awareness about available solutions among the target demographic might hinder adoption rates of disabled & elderly assistive technology. Furthermore, innovations in artificial intelligence (AI), robotics, virtual reality (VR), and wearable technology have led to the development of more efficient and user-friendly assistive devices catering to individual needs. The market presents numerous opportunities for businesses focusing on connected healthcare solutions through remote monitoring systems providing real-time data collection on users' health status.

Regional Insights

The disabled & elderly assistive technology market in the Americas is significantly growing due to the presence of established manufacturers and government initiatives, including the Americans with Disabilities Act (ADA) and a high prevalence of disabled individuals. Latin America is witnessing expansion as countries such as Brazil and Mexico benefit from increased awareness, improved healthcare infrastructure, and rising disposable incomes. The APAC region is poised for robust growth owing to factors including a rising aging population, increasing prevalence of disabilities, growing awareness to promote accessibility initiatives and government investments in healthcare infrastructure. Major countries, including China, Japan, India, South Korea, and Australia, have significantly raised awareness about using disabled & elderly assistive technology in the region. In EMEA, Europe holds a significant market due to advanced healthcare systems and initiatives supporting disability rights. The European Assistive Technology Information Network (EASTIN) facilitates sharing best practices for manufacturing assistive devices among EU countries. Africa's demand for disabled & elderly assistive devices is growing; however, supply remains constrained by limited funding and resources in the African region. Manufacturers should focus on innovation, collaboration, and business expansion strategies, including partnering with local companies or institutions to develop cost-efficient products while maintaining compliance with regulatory standards. Investing in research & development is expected to offer providers advanced technology to meet diverse consumer needs. Collaborations with healthcare institutions or governments can help identify unmet demands across different geographies.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Disabled & Elderly Assistive Technology Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Growing geriatric and disabled population worldwide
    • Incidences of hearing disorders and significant penetration of hearing aids
    • Supportive government policies that promote accessibility initiatives in public spaces
    • Market Restraints
      • High cost of assistive devices and their low availability
      • Market Opportunities
        • Development of more efficient and user-friendly assistive devices
        • Growing potential for connected assistive technology solutions with remote monitoring
        • Market Challenges
          • Lack of awareness and limited knowledge associated with the use of assistive technologies
          • Market Segmentation Analysis
            • Product: Extensive demand for assistive furnishers provide accessibility for disabled and elderly users
            • End User: Proliferating adoption of disabled & elderly assistive technology at home-based end-user segment
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Disabled & Elderly Assistive Technology Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Disabled & Elderly Assistive Technology Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Sonova Further Extends Offering Of Sennheiser-Branded Hearing Solutions With All-Day Clear
              
              Sonova has expanded its range of Sennheiser-branded hearing solutions to cater to individuals with disabilities and the elderly. These solutions offer dependable clarity throughout the day. Moreover, the new collection of hearing aids ensures accessibility for those who require them. By doing so, Sonova aims to support and enhance the quality of life for disabled individuals and the elderly through advanced assistive technology.
              
              IIT-M launches ‘National Center for Assistive Health Technologies’
              
              IIT Madras has inaugurated the National Center for Assistive Health Technologies (NCAHT-IITM) as part of the Indian Council for Medical Research (ICMR) initiative. The primary objective of NCAHT-IITM is to advance research and development in assistive technologies. These technologies are specifically used to design rehabilitative devices that cater to the requirements of disabled individuals and elderly people, aiming to enhance their quality of life and provide the necessary support. This initiative exemplifies the commitment of IIT Madras and ICMR's commitment to promoting and advancing assistive technologies, ensuring the well-being and inclusivity of individuals with disabilities and the elderly.
              
              MLM Hearing, LLC Expands Operations to U.S. with Acquisition of Nearly 60 Beltone Locations
              
              MLM Hearing LLC recently expanded its operations to the U.S. by acquiring almost 60 Beltone locations. This strategic expansion is driven by the company's dedication to enhancing access to assistive technology for disabled and elderly individuals. With a commitment to delivering high-quality hearing care solutions, MLM Hearing ensures that its specialists at the acquired locations have extensive experience in fitting state-of-the-art hearing aids that effectively promote better hearing.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Disabled & Elderly Assistive Technology Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Disabled & Elderly Assistive Technology Market, highlighting leading vendors and their innovative profiles. These include AC Mobility Pty Ltd, Amigo Mobility International, Inc., Aqua Creek Products, Arjo AB, Blue Chip Medical Products, Inc., Braze Mobility Inc., Bruno Independent Living Aids, Inc., Cardinal Health, Inc., Cochlear Ltd., Demant A/S, Dolphin Computer Access Ltd., Dot Incorporation, Drive Medical GmbH & Co. KG, Etac AB, GN Store Nord A/S, Guangdong Prestige Technology Co., Ltd., Invacare Corporation, Koninklijke Philips N.V., Liftavator, Inc., Medline Industries, Inc., Microsoft Corporation, Mobius Mobility LLC, NoorCam Technologies Ltd., Ottobock Se & Co. Kgaa, Permobil AB, Pride Mobility Products Corporation, Savaria Corporation, Siemens AG, Sonova Holding AG, Starkey Laboratories, Inc., Sunrise Medical, Inc., Technologies HumanWare Inc. by EssilorLuxottica SA, Tecla. by Komodo OpenLab Inc., Tobii Dynavox AB, Vayyar Imaging Ltd., and Widex A/S.
            
            Market Segmentation & Coverage
            
            This research report categorizes the Disabled & Elderly Assistive Technology Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Product
              • Activity Monitors
              • Assistive Furniture
                • Medical Beds
                • Railings & Bar
                • Riser Reclining Chairs
                • Bathroom Safety & Assistive Products
                  • Commodes Chairs
                  • Shower Chairs
                  • Communication Aids
                    • Hearing Aids
                    • Speech & Writing Devices
                    • Vision & Reading Aids
                    • Depression Management
                    • Fall Detection
                    • Location Monitors
                    • Medical Mobility Aids & Ambulatory Devices
                      • Cranes & Crutches
                      • Mobility Scooters
                      • Transfer Lifts
                      • Walkers & Rollators
                      • Wheelchairs
                      • End User
                        • Assisted Living Facilities
                        • Home
                        • Hospitals & Nursing Homes
                        • Region
                          • Americas
                            • Argentina
                            • Brazil
                            • Canada
                            • Mexico
                            • United States
                              • California
                              • Florida
                              • Illinois
                              • New York
                              • Ohio
                              • Pennsylvania
                              • Texas
                              • Asia-Pacific
                                • Australia
                                • China
                                • India
                                • Indonesia
                                • Japan
                                • Malaysia
                                • Philippines
                                • Singapore
                                • South Korea
                                • Taiwan
                                • Thailand
                                • Vietnam
                                • Europe, Middle East & Africa
                                  • Denmark
                                  • Egypt
                                  • Finland
                                  • France
                                  • Germany
                                  • Israel
                                  • Italy
                                  • Netherlands
                                  • Nigeria
                                  • Norway
                                  • Poland
                                  • Qatar
                                  • Russia
                                  • Saudi Arabia
                                  • South Africa
                                  • Spain
                                  • Sweden
                                  • Switzerland
                                  • Turkey
                                  • United Arab Emirates
                                  • United Kingdom
                                  
                                  
                                  Please Note: PDF & Excel + Online Access - 1 Year