Elderly And Disabled Assistive Devices Market Growth Forecast: Exploring Trends and Opportunities for the Next Decade
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How has the elderly and disabled assistive devices market grown over the years?
The elderly and disabled assistive devices market has seen strong growth in recent years. It will grow from $26.49 billion in 2024 to $28.66 billion in 2025, at a CAGR of 8.2%. This growth is driven by the increasing prevalence of chronic health issues, rising life expectancy, more road accidents, a growing elderly population, and a higher incidence of disabilities.
What Is the forecasted market size and growth rate for the elderly and disabled assistive devices market?
The elderly and disabled assistive devices market is expected to grow strongly, reaching $38.79 billion by 2029 at a CAGR of 7.9%. The growth is driven by rising demand for assistive devices, increasing hospital admissions, higher healthcare expenditures, greater prevalence of mobility issues, and the growing need for home care services. Key trends include integration with smart technologies, innovations in communication devices, advanced assistive devices, smart home devices, and innovations in wearable technology.
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What are the major factors driving growth in the elderly and disabled assistive devices market?
The rising number of disabilities is expected to contribute to the growth of the elderly and disabled assistive devices market. Disabilities, which impair individuals’ ability to perform certain activities, are increasing due to aging, chronic conditions, and genetic factors. Assistive devices enable individuals to live independently and reduce healthcare costs. For instance, a 2022 report from the UK Parliament showed that disability prevalence rises with age, with 45% of people over the State Pension age reporting disabilities. The increasing prevalence of disabilities is driving the elderly and disabled assistive devices market.
What key areas define the segmentation of the global elderly and disabled assistive devices Market?
The elderly and disabled assistive devices market covered in this report is segmented –
1) By Device Types: Medical Mobility Aids And Ambulatory Devices, Medical Furniture And Bathroom Safety Products, Hearing Aids, Vision And Reading Aids
2) By Distribution Channel: Online Channels, Offline Channels
3) By End-User: Hospitals, Homecare Settings, Nursing Homes, Assisted Living Facilities, Other End-Users
Subsegments:
1) By Medical Mobility Aids And Ambulatory Devices: Wheelchairs, Walkers, Scooters, Crutches And Canes, Lift Chairs And Recliners, Stair Lifts And Elevators
2) By Medical Furniture And Bathroom Safety Products: Adjustable Beds And Mattresses, Bedside Rails And Transfer Benches, Shower Chairs And Stools, Raised Toilet Seats And Toilet Aids, Grab Bars And Non-Slip Mats, Overbed Tables And Chairs, Bath Lifts
3) By Hearing Aids: Behind-The-Ear (Bte) Hearing Aids, In-The-Ear (Ite) Hearing Aids, In-The-Canal (Itc) Hearing Aids, Completely-In-The-Canal (Cic) Hearing Aids, Bone-Anchored Hearing Aids (Baha), Hearing Amplifiers
4) By Vision And Reading Aids: Magnifiers, Reading Glasses And Optical Aids, Electronic Text Readers, Talking Watches And Clocks, Screen Magnification Software And Devices, Braille Learning Tools And Aids, Voice-Activated Assistive Technology For Vision Impairment
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What are the top market players propelling the growth of the elderly and disabled assistive devices industry?
Major companies operating in the elderly and disabled assistive devices market are Siemens AG, Bausch And Lomb Inc., Sonova Holding AG, William Demant Holding A/S, Starkey Hearing Technologies Limited, Invacare Corporation, NOVA Medical Inc., Permobil AB, Sunrise Medical LLC, Drive DeVilbiss Healthcare Limited, Pride Mobility Products Corporation, GF Health Products Inc., Handicare Group AB, Carex Health Brands Inc., AI Squared, Audina Hearing Instruments Inc., Blue Chip Medical Products Inc., New Century Products Co. Ltd, Kaye Products Inc., Magic Mobility Ltd.
What are the key trends shaping the future of the elderly and disabled assistive devices market?
Companies in the elderly and disabled assistive devices market are collaborating to develop integrated solutions to enhance mobility and independence for these individuals. For example, in July 2023, University College London (UCL) and the Indian Institute of Technology partnered to drive disability innovation through assistive technologies in India. In January 2024, the Indian government partnered with All India Institute of Medical Sciences (AIIMS) to provide assistive devices, focusing on improving the quality of life for persons with disabilities.
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What regions are dominating the elderly and disabled assistive devices market growth?
North America was the largest region in the elderly and disabled assistive devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the elderly and disabled assistive devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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