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 4.50% from 2022 to 2028.
The rapid increase in the geriatric population, growing usage of assistive devices across the globe, and the high rates of non-communicable diseases are expected to bolster the growth of the Assistive Technology Market during the forecast period.
Key Highlights from Report:
· The Mobility Impairment segment holds the largest share of the Assistive Technology Market in 2021. This growth is attributed to the increased need for mobility aids in various countries and the increasing number of non-fatal injuries in road accidents.
· The Hospitals segment is anticipated to have significant growth in the Assistive Technology Market during the forecast period. The increase in accident cases worldwide, a large pool of admitted patients, and a growing older population are all responsible for the segmental growth of the Assistive Technology Market.
· North America holds a significant share in the growth of the Assistive Technology Market during the forecast period. The increased demand for assistive devices, a growing aging population, and a government focus on patient security in this region are augmenting the growth of the Assistive Technology Market in this region.
This technology assists disabled people in order to improve the quality of their life. In addition, various global market players offer a broad range of assistive technologies, devices, and equipment for health disabilities such as paralysis, hearing disabilities, leg injuries or disabilities, and so on. Thus, increasing engagement of various key players is also expected to fuel the growth of the Assistive Technology Market during the projected period. Furthermore, technological advancements, especially in mobility assistive devices, offer companies huge prospects. As a result, this will help the global Assistive Technology market to expand in the near future.
Asia Pacific is expected to witness the maximum growth of the Assistive Technology Market during the forecast period. This growth is accounted owing to the massive geriatric population, augmented prevalence of several non-communicable diseases, and increased healthcare spending in this region. In addition, the increasing investments in the development of technologically sound disabled assistive products and the presence of a large number of leading manufacturers in this region are anticipated to bolster the regional growth of the Assistive Technology Market.
The Global Assistive Technology Market is Segmented as follows:
- Product Type
- Mobility Impairment Devices
- Visual Impairment Devices
- Hearing Impairment Devices
- Other Product Types
- Home Care Settings
- Other End-Users
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
A list of the Key Players of the Global Assistive Technology Market is:
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 Global Assistive Technology Market Scope can be Tabulated as below:
|Market Size Provided for Years||2017 - 2030|
|Historic Years||2017 - 2021|
|Forecast Years||2023 - 2030|
|Regions & Counties Covered||
|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|