Elderly Care Devices Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2021-2031

The Global Elderly Care Devices Market is projected to expand from USD 37.76 Billion in 2025 to USD 62.01 Billion by 2031, growing at a CAGR of 8.62%. These devices encompass specialized assistive technologies and medical monitoring tools specifically engineered to support the geriatric population in managing chronic conditions, maintaining independence, and ensuring safety in both residential and institutional settings. The market's expansion is primarily driven by a rapidly aging global demographic and a rising preference for aging in place, which creates a strong demand for reliable emergency response and health tracking systems. This growing reliance on supportive technology is reflected in current adoption trends; for example, the Consumer Technology Association reported that in 2025, 80% of older adults in the United States owned at least one technology product designed to facilitate home-based aging.

However, a major obstacle hindering broader market growth is the high cost associated with these advanced care solutions. High purchase prices, often compounded by insufficient reimbursement structures in many regions, limit accessibility for consumers with budget constraints and restrict market penetration within lower-income demographics. Consequently, despite the evident demand for safety and monitoring, the financial burden remains a critical barrier that prevents these essential devices from reaching a wider global audience.

Market Drivers

The rapid growth of the global geriatric population acts as the fundamental catalyst for the elderly care devices market, creating a need for scalable solutions to manage age-related health decline. As life expectancy increases, a larger proportion of society necessitates continuous health monitoring and assistive tools to sustain independence. This demographic shift is quantifiable; according to the United Nations Population Fund in June 2024, the global percentage of people aged 65 rose from 5.5 percent in 1974 to 10.3 percent in 2024. This expanding demographic correlates directly with a higher incidence of long-term health issues requiring device-based management; for instance, the National Council on Aging reported in 2024 that over 85% of adults aged 65 and older lived with at least one chronic condition, highlighting the critical reliance on medical monitoring devices for daily disease management.

Simultaneously, the integration of AI, IoT, and robotics into assistive technologies is revolutionizing the functionality and adoption of care devices. Advanced sensor networks and machine learning algorithms now enable real-time analysis of patient data, transforming passive monitoring into proactive health management. This technological evolution is rapidly attracting investment from service providers aiming to enhance operational efficiency and patient outcomes. According to Home Health Care News in December 2024, 58% of home-based care providers have either already invested in artificial intelligence or plan to do so within the next year to address staffing challenges and improve care delivery. These innovations not only reduce the burden on human caregivers but also facilitate aging-in-place by ensuring immediate responses to emergencies such as falls or sudden fluctuations in vitals.

Market Challenges

The steep costs associated with advanced care solutions constitute a severe impediment to the expansion of the Global Elderly Care Devices Market. Many essential assistive technologies, such as continuous health monitoring systems and smart mobility aids, command high acquisition prices that make them financially out of reach for a significant portion of the geriatric population. This affordability gap is further widened by inadequate reimbursement frameworks in many regions, where insurance policies often exclude coverage for preventative or supportive home-care technology. As a result, families are frequently forced to bear these expenses out-of-pocket, restricting the market’s reach primarily to affluent demographics and leaving price-sensitive consumers without access to vital safety tools.

This economic barrier directly reduces market penetration and slows the adoption of innovative solutions. The financial strain effectively alienates a vast segment of the addressable market that requires these devices for safety but cannot justify the expense. For instance, according to AARP, in 2025, 60% of adults aged 50 and older cited cost as a significant barrier to purchasing age-related technology products. This statistic highlights how pricing sensitivity acts as a direct brake on demand. When a majority of the target audience is deterred by financial constraints, manufacturers face reduced sales volumes, which in turn prevents the industry from achieving the economies of scale necessary to lower prices, thereby creating a cycle that hampers broader market growth.

Market Trends

The convergence of telehealth and remote patient monitoring is fundamentally reshaping care delivery by enabling the "Hospital-at-Home" model, which allows acute care to be administered in a patient's residence. This trend extends beyond simple tracking to full clinical integration, driven by the need to alleviate hospital capacity strains and improve patient comfort. The scalability of this approach is evident in its rapid institutional uptake; according to the American Hospital Association in July 2025, 400 hospitals across 142 systems were approved to provide hospital-at-home services. This integration allows for earlier discharge and reduced readmissions, positioning home-based monitoring not just as a safety net, but as a primary site of clinical care.

Simultaneously, there is a decisive shift toward consumer-centric and non-stigmatizing design, where users increasingly reject conspicuous medical aids in favor of discreet, multi-functional consumer technologies. Manufacturers are responding by embedding health-tracking capabilities into standard consumer electronics, thereby reducing the stigma associated with aging and increasing compliance among active seniors. This preference for mainstream aesthetics over purely clinical form factors is driving significant adoption; according to AARP, December 2024, in the '2025 Tech Trends and Adults 50-Plus' report, ownership of wearable devices among adults over 50 reached 38 percent, illustrating a strong market pivot toward devices that blend health utility with lifestyle appeal.

Key Players Profiled in the Elderly Care Devices Market

• Sonova Holding AG
• William Demant Holding A/S
• GN Resound Group
• Koninklijke Philips N.V.
• Medtronic plc
• OttoBock Healthcare GmbH
• Investor AB
• Stryker Corporation
• Invacare Corporation
• Arjo
• Medical Depot, Inc.
• Prism Medical UK
• Etac AB
• Handicare Group AB
• Bischoff & Bischoff GmbH

Report Scope

In this report, the Global Elderly Care Devices Market has been segmented into the following categories:

Elderly Care Devices Market, by Product:

• Mobility Assistance Aids
• Assistive Furniture
• Bathroom Safety & Assistive Products
• Communication Aids

Elderly Care Devices Market, by End User:

• Hospitals
• Elderly Nursing Homes
• Assistive Living Facilities
• Homecare
• Others

Elderly Care Devices Market, by Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Elderly Care Devices Market.

Available Customization

The analyst offers customization according to your specific needs. The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to five).

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