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Assistive Technology Market

Assistive Technology Market

Assistive Technology Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

142

Base Year:

2021

Date

Aug - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1786

Segments Covered
  • By Product Type Mobility Impairment Devices, Visual Impairment Devices, Hearing Impairment Devices, Other Product Types
  • By End-User Hospitals, Home Care Settings, Other End-Users
  • By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 21.8 Billion
Revenue 2028Revenue 2028: USD 28.8 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 4.8%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Assistive Technology Market Share

Market Synopsis:

The Global Assistive Technology Market was valued at USD 21.8 Billion in 2021 and is projected to reach a value of USD 28.8 Billion by 2028. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 4.8% over the forecast period.

Assistive Technology devices are items, equipment, or gadgets that help people with impairments increase, enhance, or retain their functional abilities. Growth in technology advancement in assistive equipment, solutions, or services across several organizations can enable clinics, hospitals, home care, and other end-users. A wide spectrum of people around the world requires assistive technologies to optimize their physical and mental health, such as persons with chronic health conditions, people with impairments, and the aged. Furthermore, they require the assistance of numerous gadgets and equipment to carry out all of life's necessities, therefore these devices assist both disabled and elderly patients in making their lives more calm, easy, and autonomous.

Assistive Technology Market Size, 2021 To 2028 (USD Billion)

The growing number of disabled people contributes to the expansion of the market for impaired assistive equipment. The market expands because of an increase in the number of assistive device manufacturers investing in Research and Development (R&D) for these innovations. People's increasing proactiveness and advantage incurred for better health circumstances, on the other hand, are predicted to give the disabled and aged Assistive Technology Market excellent growth prospects over the projection period. The rising costs of a few modern techniques, along with poor adoption rates in emerging economies, may stymie the expansion of the disabled assistive devices market. The significant rise in the number of people living with dementia is expected to boost the market growth of impaired adaptive equipment during the forecast period.

Market Segmentation:

The Assistive Technology Market is segmented based on Product Type, End Users, and Region. Based on the Product Type, the market is further segmented into Hearing Aids & Vision, Reading Aids, Sensory Aids, and Other Product Types. Furthermore, based on End Users, the market is segmented into Hospitals, Home Care Settings, and Other End-Users.

Below tree is interactive. You can click the nodes to get more information.

Based on End Users:

The Hospital segment holds a significant share in the growth of the market over the upcoming years. This is due to an increase in the number of accidents worldwide, a large pool of admitted patients, and a growing older population, all of which contribute to a rise in the number of assistive devices. In addition, hospitals have a significant demand for medical beds, recliner chairs, transferred lifts, and patient mechanical lift handling, which is driving the segment growth.

Based on Product Type:

The Mobility Impairment segment is anticipated to grow at the highest rate during the forecast period. This is due to the high need for mobility aids among the country's elderly and disabled citizens. As a result of road traffic accidents, a greater number of persons suffer non-fatal injuries, which result in disability. Thus, increased road traffic accidents are one of the primary drivers of the global need for mobility aids.

North America is expected to hold the highest share in the Market During the Forecast Period

North America holds a significant share in the market during the forecast period. This region leads the cognitive impairment assistive devices market because of increased demand for assistive devices, a growing aging population, and a government focus on patient security in this region. In addition, there has been a significant increase in demand for Assistive Technology for a variety of end-users such as Assistive Technology education, clinics, and clinics, among others. The rising use of stroke adaptive equipment by physicians to treat post-stroke consequences is expected to boost demand for stroke assistive devices, enhancing revenue creation in the stroke assistive devices market. The aged and disabled assistive devices industry is estimated to have substantial market potential, particularly in Latin America.

Also, an increase in the demand for assistive devices due to an increase in the trend of an independent lifestyle would fuel global market expansion.

Competitive Landscape:

The key players in the Global Assistive Technology Market include- William Demant Holding A/S, GF Health Products Inc., GN Store Nord AS, Invacare Corp., Medical Depot Inc., Medline Industries Inc., Nordic Capital, Pride Mobility Products Corp., Sunrise Medical Inc., Med-El Corporation and others.

Segmentation of the Global Assistive Technology Market:

Parameter Details
Segments Covered
  • Product Type (Mobility Impairment Devices, Visual Impairment Devices, Hearing Impairment Devices, Other Product Types)
  • End-User (Hospitals, Home Care Settings, Other End-Users)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • William Demant Holding A/S
  • GF Health Products Inc.
  • GN Store Nord AS
  • Invacare Corp.
  • Medical Depot Inc.
  • Medline Industries Inc.
  • Nordic Capital
  • Pride Mobility Products Corp.
  • Sunrise Medical Inc.
  • Med-El Corporation
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Assistive Technology Market to Reach Valuation of USD 28.8 Billion by 2028 – IncreasedGovernment Focus on Patient Security Drives the Market
In terms of revenue, the Global Assistive Technology Market is expected to reach USD 28.8 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 4.8% from 2022 to 2028. The rapid increase in the geriatric population, growing usage of assistive devices across the globe, and the high ra...
FAQ
Frequently Asked Question
  • The global Assistive Technology valued at USD 21.8 Billion in 2020 and is expected to reach USD 28.8 Billion in 2028 growing at a CAGR of 4.8%.

  • The prominent players in the market are William Demant Holding A/S, GF Health Products Inc., GN Store Nord AS, Invacare Corp., Medical Depot Inc., Medline Industries Inc., Nordic Capital, Pride Mobility Products Corp., Sunrise Medical Inc., Med-El Corporation.

  • The market is project to grow at a CAGR of 4.8% between 2021 and 2028.

  • The driving factors of the Assistive Technology include

    • Growing disabilities across the globe

  • North America was the leading regional segment of the Assistive Technology in 2020.