October 15, 2024

Elderly and Disabled Assistive Devices Market is Anticipated to Grow US$ 34.18 Bn By 2030

According to precedence research, the global Elderly and Disabled Assistive Devices market size was USD 22.07 Billion in 2021 and is expected to reach USD 34.18 Billion by 2030 and register a revenue CAGR of 5% during the forecast period, 2022-2030.

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Growth Factors

The manufacturers of the elderly and disabled assistive devices are expected to gain huge profits owing to the surging demand for the technologically advanced assistive devices across the globe. The rapidly growing geriatric population across the globe and the growing disabilities owing to various diseases and aging is expected to be the primary driver of the global elderly and disabled assistive devices market. The surging number of the manufacturers in the elderly and disabled assistive devices market, owing to the lucrative market opportunities is driving the global market. The elderly and disabled assistive devices such as mobility scooters, hearing aids, wheelchairs, vision and reading aids, and bathroom safety devices are some of the highly demanded products among the disabled and geriatric people. These devices helps the user in their daily activities such as walking, reading, listening, and bathing. The growing focus of the manufacturers in the development of disabled assistive devices using latest technologies and rising investments towards improving the ergonomics of the devices are the major factors that are expected to drive the growth of the global elderly and disabled assistive devices.

According to the United Nations, the global geriatric population is expected to reach at 2 billion by 2050. The improved access to the advanced healthcare facilities has increased the life expectancy of the people. As per the World Health Organization (WHO), everyone will be permanently or temporarily disable at some point in their life, especially those who would survive to old age is expected to witness challenges in functioning. According to the WHO, around 15% of the global population lives with some form of disabilities and around 2% to 4% of them experiences exponential difficulties in functioning in their day-to-day lives. The growing prevalence of various chronic diseases such as cancer, diabetes, arthritis, and cardiovascular diseases are some of the major factors that affects disabilities. Moreover, the road traffic accidents, occupational injuries, falls, conflicts, and violence are some of the top recognized contributors to the number of disabilities. Therefore, the rising prevalence of disabilities across the globe owing to the aforementioned reasons is expected to drive the growth of the global elderly and disabled assistive devices market.

Report Scope of the Elderly and Disabled Assistive Devices Market

Report CoverageDetails
Market Size by 2030USD 34.18 Billion
Growth Rate from 2022 to 2030CAGR of 5%
Largest MarketNorth America
Fastest Growing MarketAsia Pacifc
Base Year2021
Forecast Period2022 to 2030
Segments CoveredService Type, End User, Geography
Companies MentionedAI Squared, Drive Medical, GN Resound Group, Invacare, Nordic Capital, Pride Mobility Products Corporation, Siemens Ltd., Sonova Holding AG, Starkey hearing technologies, William Demant Holding A/S

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Global Elderly and Disabled Assistive Devices Market: Growth Drivers

  • The geriatric population is susceptible to a variety of physical impairments, including vision and hearing loss, as well as immobility. These limitations are likely to necessitate the use of assistive devices to carry out daily chores such as reading, moving, listening, etc.
  • Software advancements in video magnifiers, Braille translators, and reading machines have expanded the range of applications and patient segments. For instance, the introduction of portable video magnifiers onto the market by several businesses has raised demand for these devices among visually challenged people who can afford them.

Segments Covered :

Type Insights

Based on the type, the mobility aids segment dominated the global elderly and disabled assistive devices market in 2020. The surging number of disabilities owing to various diseases and aging population has boosted the demand for the mobility aids across the globe. Moreover, the rising investments by the market players in adoption of the technological advancements in the devices have significantly driven the growth of this segment. Further, the rising number of road traffic accidents and growing disabilities pertaining to it is fueling the growth of the mobility aids devices. According to the WHO, between 20 and 50 million higher number of people suffer non-fatal injuries due to road traffic accidents and this injury results in disability. These factors have resulted in the dominance of this segment in the past years.

On the other hand, the bathroom safety is estimated to be the most opportunistic segment during the forecast period. This is attributed to the rising focus towards the improvement of the quality of life of the disabled and the old age population. The surging technological advancements have encouraged the development of various advanced assistive devices that eases the daily functioning of the disabled people.

End User Insights

Based on the end user, the hospitals segment dominated the global elderly and disabled assistive devices market in 2020. This is attributed to the increased number of road accidents and rising number of hospital admissions for the treatment of various diseases like paralysis, cerebral palsy, stroke, amputation, and multiple sclerosis. These diseases are the major contributors to the growth of the elderly and disabled assistive devices market. Moreover, the huge demand for the wheel chairs and other mobility devices for the mobility of the patients in hospital premises has fueled the growth of this segment.

On the other hand, the homecare is expected to be the fastest-growing segment during the forecast period. The rising adoption of the disabled assistive devices in home is driving the growth of this segment. Moreover, the permanent disabilities due to aging and various other factors are driving the market growth. The rising healthcare expenditure and increasing awareness regarding the availability of various advanced devices is augmenting the segment’s growth.

Region Insights

North America was the leading market in 2020. This is simply attributed to the presence of huge geriatric population and surging prevalence of various chronic diseases such as cancer, diabetes, and CVDs, which are considered a major cause of disability. According to the US Census Bureau, there were around 54.1 million geriatric people in US in 2019, aged 65 years or above. This number is expected to reach at 95 million 2050. Moreover, the increased healthcare expenditure, high disposable income, and increased awareness regarding various advanced devices are some of the prominent factors that has augmented the growth of the elder and disabled assistive devices market in North America.

Asia Pacific is expected to be the fastest-growing market during the forecast period. This is mainly de to the rapidly growing geriatric population, rising prevalence of various non-communicable diseases, and rising prevalence of road traffic accidents. According to the United Nations, about 80% of the global geriatric population will be living in the low and middle income countries. Moreover, around 93% of the global road traffic accidents occur in low and middle income countries, as per the WHO. The surging penetration of the advanced healthcare systems and the rising accessibility to the advanced care is fueling the market growth in Asia Pacific region. The easy availability of the disabled assistive devices coupled with rising healthcare expenditure is propelling the growth of the Asia Pacific elderly and disabled assistive devices market.

Some of the prominent players in the global elderly and disabled assistive devices market include:

  • AI Squared
  • Drive Medical
  • GN Resound Group
  • Invacare
  • Nordic Capital
  • Pride Mobility Products Corporation
  • Siemens Ltd.
  • Sonova Holding AG
  • Starkey hearing technologies
  • William Demant Holding A/S

Segments Covered in the Report

By Service Type

  • Mobility Aids Devices
    • Wheelchairs
    • Mobility Scooters
    • Cranes & Crutches
    • Walkers & Rollators
    • Transfer Lifts
    • Door Openers
    • Others (Cushions, Pillow, and Back Support)
  • Living Aids Devices
    • Reading and Vision Aids
      • Video Magnifiers
      • Braille Translators
      • Reading Machines
      • Others (Books and Kitchen Appliances)
    • Hearing Aids
      • Receiver-in-the-Ear (RITE) Aids
      • Behind-the-Ear (BTE) Aids
      • In-the-Ear (ITE) Aids
      • Canal Hearing Aids
      • Bone Anchored Hearing Aids (BAHA)
      • Cochlear Implants
  • Medical Furniture
    • Medical Beds
    • Medical Furniture Accessories
    • Door Openers
    • Others
  • Bathroom Safety Devices
    • Commodes
    • Bars, Grips, and Rails
    • Shower Chairs
    • Ostomy Products

By End User

  • Hospitals
  • Nursing Homes
  • Assisted Living Facilities
  • Homecare

Regional Segmentation
• Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia],
• Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland],
• North America [United States, Canada, Mexico],
• South America [Brazil, Argentina, Columbia, Chile, Peru].
• Middle East & Africa [GCC, North Africa, South Africa],

Why should you invest in this report?
If you are aiming to enter the global Elderly and Disabled Assistive Devices market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Elderly and Disabled Assistive Devices market are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2022-2030 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

Table Of Content

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Elderly and Disabled Assistive Devices Market 

5.1. COVID-19 Landscape: Elderly and Disabled Assistive Devices Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Elderly and Disabled Assistive Devices Market, By Service

8.1. Elderly and Disabled Assistive Devices Market, by Service Type, 2022-2030

8.1.1. Mobility Aids Devices

8.1.1.1. Market Revenue and Forecast (2017-2030)

8.1.2. Living Aids Devices

8.1.2.1. Market Revenue and Forecast (2017-2030)

8.1.3. Medical Furniture

8.1.3.1. Market Revenue and Forecast (2017-2030)

8.1.4. Bathroom Safety Devices

8.1.4.1. Market Revenue and Forecast (2017-2030)

Chapter 9. Global Elderly and Disabled Assistive Devices Market, By Application

9.1. Elderly and Disabled Assistive Devices Market, by Application, 2022-2030

9.1.1. Hospitals

9.1.1.1. Market Revenue and Forecast (2017-2030)

9.1.2. Nursing Homes

9.1.2.1. Market Revenue and Forecast (2017-2030)

9.1.3. Assisted Living Facilities

9.1.3.1. Market Revenue and Forecast (2017-2030)

9.1.4. Homecare

9.1.4.1. Market Revenue and Forecast (2017-2030)

Chapter 10. Global Elderly and Disabled Assistive Devices Market, Regional Estimates and Trend Forecast

10.1. North America

10.1.1. Market Revenue and Forecast, by Service (2017-2030)

10.1.2. Market Revenue and Forecast, by Application (2017-2030)

10.1.3. U.S.

10.1.3.1. Market Revenue and Forecast, by Service (2017-2030)

10.1.3.2. Market Revenue and Forecast, by Application (2017-2030)

10.1.4. Rest of North America

10.1.4.1. Market Revenue and Forecast, by Service (2017-2030)

10.1.4.2. Market Revenue and Forecast, by Application (2017-2030)

10.2. Europe

10.2.1. Market Revenue and Forecast, by Service (2017-2030)

10.2.2. Market Revenue and Forecast, by Application (2017-2030)

10.2.3. UK

10.2.3.1. Market Revenue and Forecast, by Service (2017-2030)

10.2.3.2. Market Revenue and Forecast, by Application (2017-2030)

10.2.4. Germany

10.2.4.1. Market Revenue and Forecast, by Service (2017-2030)

10.2.4.2. Market Revenue and Forecast, by Application (2017-2030)

10.2.5. France

10.2.5.1. Market Revenue and Forecast, by Service (2017-2030)

10.2.5.2. Market Revenue and Forecast, by Application (2017-2030)

10.2.6. Rest of Europe

10.2.6.1. Market Revenue and Forecast, by Service (2017-2030)

10.2.6.2. Market Revenue and Forecast, by Application (2017-2030)

10.3. APAC

10.3.1. Market Revenue and Forecast, by Service (2017-2030)

10.3.2. Market Revenue and Forecast, by Application (2017-2030)

10.3.3. India

10.3.3.1. Market Revenue and Forecast, by Service (2017-2030)

10.3.3.2. Market Revenue and Forecast, by Application (2017-2030)

10.3.4. China

10.3.4.1. Market Revenue and Forecast, by Service (2017-2030)

10.3.4.2. Market Revenue and Forecast, by Application (2017-2030)

10.3.5. Japan

10.3.5.1. Market Revenue and Forecast, by Service (2017-2030)

10.3.5.2. Market Revenue and Forecast, by Application (2017-2030)

10.3.6. Rest of APAC

10.3.6.1. Market Revenue and Forecast, by Service (2017-2030)

10.3.6.2. Market Revenue and Forecast, by Application (2017-2030)

10.4. MEA

10.4.1. Market Revenue and Forecast, by Service (2017-2030)

10.4.2. Market Revenue and Forecast, by Application (2017-2030)

10.4.3. GCC

10.4.3.1. Market Revenue and Forecast, by Service (2017-2030)

10.4.3.2. Market Revenue and Forecast, by Application (2017-2030)

10.4.4. North Africa

10.4.4.1. Market Revenue and Forecast, by Service (2017-2030)

10.4.4.2. Market Revenue and Forecast, by Application (2017-2030)

10.4.5. South Africa

10.4.5.1. Market Revenue and Forecast, by Service (2017-2030)

10.4.5.2. Market Revenue and Forecast, by Application (2017-2030)

10.4.6. Rest of MEA

10.4.6.1. Market Revenue and Forecast, by Service (2017-2030)

10.4.6.2. Market Revenue and Forecast, by Application (2017-2030)

10.5. Latin America

10.5.1. Market Revenue and Forecast, by Service (2017-2030)

10.5.2. Market Revenue and Forecast, by Application (2017-2030)

10.5.3. Brazil

10.5.3.1. Market Revenue and Forecast, by Service (2017-2030)

10.5.3.2. Market Revenue and Forecast, by Application (2017-2030)

10.5.4. Rest of LATAM

10.5.4.1. Market Revenue and Forecast, by Service (2017-2030)

10.5.4.2. Market Revenue and Forecast, by Application (2017-2030)

Chapter 11. Company Profiles

11.1. AI Squared

11.1.1. Company Overview

11.1.2. Product Offerings

11.1.3. Financial Performance

11.1.4. Recent Initiatives

11.2. Drive Medical

11.2.1. Company Overview

11.2.2. Product Offerings

11.2.3. Financial Performance

11.2.4. Recent Initiatives

11.3. GN Resound Group

11.3.1. Company Overview

11.3.2. Product Offerings

11.3.3. Financial Performance

11.3.4. Recent Initiatives

11.4. Invacare

11.4.1. Company Overview

11.4.2. Product Offerings

11.4.3. Financial Performance

11.4.4. Recent Initiatives

11.5. Nordic Capital

11.5.1. Company Overview

11.5.2. Product Offerings

11.5.3. Financial Performance

11.5.4. Recent Initiatives

11.6. Pride Mobility Products Corporation

11.6.1. Company Overview

11.6.2. Product Offerings

11.6.3. Financial Performance

11.6.4. Recent Initiatives

11.7. Siemens Ltd.

11.7.1. Company Overview

11.7.2. Product Offerings

11.7.3. Financial Performance

11.7.4. Recent Initiatives

11.8. Sonova Holding AG

11.8.1. Company Overview

11.8.2. Product Offerings

11.8.3. Financial Performance

11.8.4. Recent Initiatives

11.9. Starkey hearing technologies

11.9.1. Company Overview

11.9.2. Product Offerings

11.9.3. Financial Performance

11.9.4. Recent Initiatives

11.10. William Demant Holding A/S

11.10.1. Company Overview

11.10.2. Product Offerings

11.10.3. Financial Performance

11.10.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research

12.2. Secondary Research

12.3. Assumptions

Chapter 13. Appendix

13.1. About Us

13.2. Glossary of Terms

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Janet Edward

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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