This Disabled and Elderly Assistive Technology industry report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
The disabled and elderly assistive technology market size has grown strongly in recent years. It will grow from $39.63 billion in 2023 to $42.58 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth during the historic period can be attributed to increased research and development activities, government initiatives, higher disposable income, rapidly shifting demographics, and the growth of the aging population.
The disabled and elderly assistive technology market size is expected to see strong growth in the next few years. It will grow to $57.07 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The anticipated growth during the forecast period can be attributed to the increasing demand for assistive technologies, a surge in the need for advanced solutions, a rising prevalence of disabilities, the evolution of assistive technologies and increased awareness, and the growing geriatric and disabled population. Key trends expected in this period include advancements in healthcare facilities, a focus on promoting independent lifestyles, technological innovations, the integration of AI, and the emergence of innovative and cost-effective assistive technologies.
The growing employment-population ratio for individuals with disabilities is expected to drive the expansion of the disabled and elderly assistive technology market. This increase is due to improvements in accessibility, inclusive hiring practices, and better support programs. Assistive technology for disabled and elderly individuals helps them perform job tasks more effectively and independently, thereby enhancing their employability and access to a broader range of job opportunities. For instance, in February 2024, the Bureau of Labor Statistics, a US-based agency within the Department of Labor, reported that the employment-population ratio for individuals with disabilities increased by 1.2 percentage points in 2023, reaching 22.5%. This rise in employment rates is contributing to the growth of the disabled and elderly assistive technology market.
Key players in the disabled and elderly assistive technology market are advancing their technology with AI-powered hearing aids and other assistive devices to capture market share. These hearing aids utilize artificial intelligence to enhance sound quality, adapt to various environments, and provide personalized hearing experiences. For example, in January 2024, Starkey, a US-based hearing aid manufacturer, introduced the Genesis AI hearing aids in Australia and New Zealand. These devices feature real-time environmental adaptation, advanced noise reduction, and seamless connectivity with smart devices, offering users clearer sound and improved communication capabilities. This development showcases how integrating AI into hearing aids significantly boosts accessibility and user experience for those with hearing impairments.
In September 2022, Sunrise Medical, a Germany-based medical equipment manufacturer, acquired Helping Hand Company for an undisclosed amount. This acquisition aims to enhance Sunrise Medical’s manufacturing capabilities in Europe and expand its product range, particularly in seating and pediatric care, to provide more comprehensive 24-hour postural care solutions. Helping Hand Company, a UK-based mobility equipment manufacturer, specializes in pressure management seating, positioning products, and the Symmetrikit range for continuous postural care.
Major companies operating in the disabled and elderly assistive technology market are Siemens Healthineers AG, Whirlpool Corporation, Medline Industries LP, Bausch Health Companies Inc., Sonova Holding AG, Demant A/S, GN Store Nord A/S, Otto Bock HealthCare GmbH, Cochlear Ltd, Starkey Laboratories Inc., Invacare Holdings Corp, MED-EL Medical Electronics, Permobil Inc., Sunrise Medical LLC, Pride Mobility Products Corp., Tobii Dynavox LLC, Nordic Capital Limited (NCL), Freedom Scientific Inc., Liberator Ltd., Jabbla UK Ltd., Wintriss Engineering, Blue Chip Medical Products Inc., Medical Depot Inc., Inclusive Technology Ltd, Exact Dynamics B.V.
North America was the largest region in the disabled and elderly assistive technology market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the disabled and elderly assistive technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the disabled and elderly assistive technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Disabled and elderly assistive technology encompasses devices and systems designed to support individuals with disabilities or the elderly in carrying out daily activities, thereby enhancing their independence and quality of life. The primary goal of this technology is to address the challenges faced by these individuals and help them lead independent, fulfilling lives.
Key products in the disabled and elderly assistive technology market include medical mobility aids and ambulatory devices, assistive furniture, bathroom safety and assistive products, communication aids, activity monitors, and location monitors. Medical mobility aids and ambulatory devices, for instance, are designed to help individuals with limited mobility move around safely and independently. These products are available through various distribution channels, including online and offline retailers, and are used by a range of end-users, such as hospitals, elderly nursing homes, homecare providers, and others.
The disabled and elderly assistive technology market research report is one of a series of new reports that provides disabled and elderly assistive technology market statistics, including the disabled and elderly assistive technology industry global market size, regional shares, competitors with disabled and elderly assistive technology market share, detailed disabled and elderly assistive technology market segments, market trends, and opportunities, and any further data you may need to thrive in the disabled and elderly assistive technology industry. These disabled and elderly assistive technology market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The disabled and elderly assistive technology market consists of revenues earned by entities by providing services such as custom prosthetic fittings, occupational therapy, rehabilitation services, mobility equipment maintenance, home modification services, personal care assistance, and technology training for assistive devices. The market value includes the value of related goods sold by the service provider or included within the service offering. The disabled and elderly assistive technology market also includes sales of electric and manual wheelchairs, cochlear implants, smart home systems, fall detection sensors, blood pressure monitors, and glucose monitors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The disabled and elderly assistive technology market size has grown strongly in recent years. It will grow from $39.63 billion in 2023 to $42.58 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth during the historic period can be attributed to increased research and development activities, government initiatives, higher disposable income, rapidly shifting demographics, and the growth of the aging population.
The disabled and elderly assistive technology market size is expected to see strong growth in the next few years. It will grow to $57.07 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The anticipated growth during the forecast period can be attributed to the increasing demand for assistive technologies, a surge in the need for advanced solutions, a rising prevalence of disabilities, the evolution of assistive technologies and increased awareness, and the growing geriatric and disabled population. Key trends expected in this period include advancements in healthcare facilities, a focus on promoting independent lifestyles, technological innovations, the integration of AI, and the emergence of innovative and cost-effective assistive technologies.
The growing employment-population ratio for individuals with disabilities is expected to drive the expansion of the disabled and elderly assistive technology market. This increase is due to improvements in accessibility, inclusive hiring practices, and better support programs. Assistive technology for disabled and elderly individuals helps them perform job tasks more effectively and independently, thereby enhancing their employability and access to a broader range of job opportunities. For instance, in February 2024, the Bureau of Labor Statistics, a US-based agency within the Department of Labor, reported that the employment-population ratio for individuals with disabilities increased by 1.2 percentage points in 2023, reaching 22.5%. This rise in employment rates is contributing to the growth of the disabled and elderly assistive technology market.
Key players in the disabled and elderly assistive technology market are advancing their technology with AI-powered hearing aids and other assistive devices to capture market share. These hearing aids utilize artificial intelligence to enhance sound quality, adapt to various environments, and provide personalized hearing experiences. For example, in January 2024, Starkey, a US-based hearing aid manufacturer, introduced the Genesis AI hearing aids in Australia and New Zealand. These devices feature real-time environmental adaptation, advanced noise reduction, and seamless connectivity with smart devices, offering users clearer sound and improved communication capabilities. This development showcases how integrating AI into hearing aids significantly boosts accessibility and user experience for those with hearing impairments.
In September 2022, Sunrise Medical, a Germany-based medical equipment manufacturer, acquired Helping Hand Company for an undisclosed amount. This acquisition aims to enhance Sunrise Medical’s manufacturing capabilities in Europe and expand its product range, particularly in seating and pediatric care, to provide more comprehensive 24-hour postural care solutions. Helping Hand Company, a UK-based mobility equipment manufacturer, specializes in pressure management seating, positioning products, and the Symmetrikit range for continuous postural care.
Major companies operating in the disabled and elderly assistive technology market are Siemens Healthineers AG, Whirlpool Corporation, Medline Industries LP, Bausch Health Companies Inc., Sonova Holding AG, Demant A/S, GN Store Nord A/S, Otto Bock HealthCare GmbH, Cochlear Ltd, Starkey Laboratories Inc., Invacare Holdings Corp, MED-EL Medical Electronics, Permobil Inc., Sunrise Medical LLC, Pride Mobility Products Corp., Tobii Dynavox LLC, Nordic Capital Limited (NCL), Freedom Scientific Inc., Liberator Ltd., Jabbla UK Ltd., Wintriss Engineering, Blue Chip Medical Products Inc., Medical Depot Inc., Inclusive Technology Ltd, Exact Dynamics B.V.
North America was the largest region in the disabled and elderly assistive technology market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the disabled and elderly assistive technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the disabled and elderly assistive technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Disabled and elderly assistive technology encompasses devices and systems designed to support individuals with disabilities or the elderly in carrying out daily activities, thereby enhancing their independence and quality of life. The primary goal of this technology is to address the challenges faced by these individuals and help them lead independent, fulfilling lives.
Key products in the disabled and elderly assistive technology market include medical mobility aids and ambulatory devices, assistive furniture, bathroom safety and assistive products, communication aids, activity monitors, and location monitors. Medical mobility aids and ambulatory devices, for instance, are designed to help individuals with limited mobility move around safely and independently. These products are available through various distribution channels, including online and offline retailers, and are used by a range of end-users, such as hospitals, elderly nursing homes, homecare providers, and others.
The disabled and elderly assistive technology market research report is one of a series of new reports that provides disabled and elderly assistive technology market statistics, including the disabled and elderly assistive technology industry global market size, regional shares, competitors with disabled and elderly assistive technology market share, detailed disabled and elderly assistive technology market segments, market trends, and opportunities, and any further data you may need to thrive in the disabled and elderly assistive technology industry. These disabled and elderly assistive technology market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The disabled and elderly assistive technology market consists of revenues earned by entities by providing services such as custom prosthetic fittings, occupational therapy, rehabilitation services, mobility equipment maintenance, home modification services, personal care assistance, and technology training for assistive devices. The market value includes the value of related goods sold by the service provider or included within the service offering. The disabled and elderly assistive technology market also includes sales of electric and manual wheelchairs, cochlear implants, smart home systems, fall detection sensors, blood pressure monitors, and glucose monitors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Disabled and Elderly Assistive Technology Market Characteristics3. Disabled and Elderly Assistive Technology Market Trends and Strategies32. Global Disabled and Elderly Assistive Technology Market Competitive Benchmarking33. Global Disabled and Elderly Assistive Technology Market Competitive Dashboard34. Key Mergers and Acquisitions in The Disabled and Elderly Assistive Technology Market
4. Disabled and Elderly Assistive Technology Market - Macro Economic Scenario
5. Global Disabled and Elderly Assistive Technology Market Size and Growth
6. Disabled and Elderly Assistive Technology Market Segmentation
7. Disabled and Elderly Assistive Technology Market Regional and Country Analysis
8. Asia-Pacific Disabled and Elderly Assistive Technology Market
9. China Disabled and Elderly Assistive Technology Market
10. India Disabled and Elderly Assistive Technology Market
11. Japan Disabled and Elderly Assistive Technology Market
12. Australia Disabled and Elderly Assistive Technology Market
13. Indonesia Disabled and Elderly Assistive Technology Market
14. South Korea Disabled and Elderly Assistive Technology Market
15. Western Europe Disabled and Elderly Assistive Technology Market
16. UK Disabled and Elderly Assistive Technology Market
17. Germany Disabled and Elderly Assistive Technology Market
18. France Disabled and Elderly Assistive Technology Market
19. Italy Disabled and Elderly Assistive Technology Market
20. Spain Disabled and Elderly Assistive Technology Market
21. Eastern Europe Disabled and Elderly Assistive Technology Market
22. Russia Disabled and Elderly Assistive Technology Market
23. North America Disabled and Elderly Assistive Technology Market
24. USA Disabled and Elderly Assistive Technology Market
25. Canada Disabled and Elderly Assistive Technology Market
26. South America Disabled and Elderly Assistive Technology Market
27. Brazil Disabled and Elderly Assistive Technology Market
28. Middle East Disabled and Elderly Assistive Technology Market
29. Africa Disabled and Elderly Assistive Technology Market
30. Disabled and Elderly Assistive Technology Market Competitive Landscape and Company Profiles
31. Disabled and Elderly Assistive Technology Market Other Major and Innovative Companies
35. Disabled and Elderly Assistive Technology Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Disabled and Elderly Assistive Technology Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on disabled and elderly assistive technology market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for disabled and elderly assistive technology? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The disabled and elderly assistive technology market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Product Type: Medical Mobility Aids and Ambulatory Devices; Assistive Furniture; Bathroom Safety and Assistive Products; Communication Aids; Activity Monitors; Location Monitors; Other Product Types2) By Distribution Channel: Online; Offline
3) By End-User Type: Hospitals; Elderly Nursing Homes; Homecare; Other End-Users
Key Companies Mentioned: Siemens Healthineers AG; Whirlpool Corporation; Medline Industries LP; Bausch Health Companies Inc.; Sonova Holding AG
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- Siemens Healthineers AG
- Whirlpool Corporation
- Medline Industries LP
- Bausch Health Companies Inc.
- Sonova Holding AG
- Demant A/S
- GN Store Nord A/S
- Otto Bock HealthCare GmbH
- Cochlear Ltd
- Starkey Laboratories Inc.
- Invacare Holdings Corp
- MED-EL Medical Electronics
- Permobil Inc.
- Sunrise Medical LLC
- Pride Mobility Products Corp.
- Tobii Dynavox LLC
- Nordic Capital Limited (NCL)
- Freedom Scientific Inc.
- Liberator Ltd.
- Jabbla UK Ltd.
- Wintriss Engineering
- Blue Chip Medical Products Inc.
- Medical Depot Inc.
- Inclusive Technology Ltd
- Exact Dynamics B.V.
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | October 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 42.58 Billion |
Forecasted Market Value ( USD | $ 57.07 Billion |
Compound Annual Growth Rate | 7.6% |
Regions Covered | Global |
No. of Companies Mentioned | 25 |