New York, NY, Sept. 04, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Disabled and Elderly Assistive Technology Market by Product (Medical Mobility Aids and Ambulatory Devices [Wheelchairs, Scooters, Crutches & Canes, Transfer Lifts, Walkers & Rollators, and Slings], Assistive Furniture [Beds, Riser Reclining Chairs, Railings & Bar, and Door Openers], Bathroom Safety and Assistive Products [Commodes & Shower Chairs, Ostomy Products, and Others], Communication Aids [Speech & Writing Therapy, Hearing Aids, and Vision & Reading Aids], Activity Monitors, Location Monitors, and Others), and by End User (Hospitals and Nursing Homes, Assisted Living Facilities, and Home Care): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024”. According to the report, global disabled and elderly assistive technology market was valued at approximately USD 18.70 billion in 2017 and is expected to generate revenue of around USD 30.82 billion by end of 2024, growing at a CAGR of around 7.40% between 2018 and 2024.
Devices which help to overcome impairments, cognitive difficulties, and disabilities in the geriatric & disabled population are provided by the assistive technologies. These technologies assist in independent living, reduce healthcare costs, and improve health outcomes. This market has witnessed tremendous development and has evolved both in terms of characteristics and performance.
Browse through 45 Tables & 26 Figures spread over 110 Pages and in-depth TOC on “Global Disabled and Elderly Assistive Technology Market Size, Share, End-User, Growth Analysis, and Forecast, 2017 - 2024”.
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The disabled and elderly assistive technology market is segmented on the basis of product into medical mobility aids and ambulatory devices, assistive furniture, bathroom safety and assistive products, communication aids, activity monitors, location monitors, and others. The medical mobility aids and ambulatory devices are further segmented into wheelchairs, scooters, crutches and canes, transfer lifts, walkers and rollators, and slings. The assistive furniture segment is divided into riser reclining chairs, beds, railings and bar, and door openers. The bathroom safety and assistive products are further segmented into commodes and shower chairs, ostomy products, and others. The communication aids segment is further bifurcated into speech and writing therapy, hearing aids, and vision & reading aids. Of which the communication aids segment accounted for a larger share of the market in 2017. This growth is attributed to the rise in disabled & geriatric populace requiring speech, vision, and hearing assistance and advancements in technology. The mobility assistance segment is likely to register a high CAGR in the forecast period.
Based on the end user, the disabled and elderly assistive technology market is segmented into hospitals and nursing homes, assisted living facilities, and home care. Of these, the home care segment accounted for a larger share of the market and is anticipated to generate higher revenue in the forecast period. This growth is mainly attributed due to the growth in demand for these assistive technologies in the home care setting to assist daily lifestyle activities.
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North America is anticipated to be the leading market for disabled and elderly assistive technology market, followed by Europe. The growth is mainly attributed to the high disposable income of the population and the rising efforts taken by the government and private institutions to back the disabled and elderly population by providing them with the enhanced facilities in order to lead their lives more comfortably. Moreover, these grants provided by the government are also provided in order to make these devices affordable for the disabled and elderly population. All these factors are positively impacting the growth of the overall market in these two regions for disabled and elderly assistive technology. Furthermore, numerous breakthrough technological developments are taking place, which is further driving the growth of the market in these two regions.
Asia Pacific is likely to show high growth in the disabled and elderly assistive technology market and is also likely to grow at high CAGR in comparison to other regions. This growth is attributed to the increasing awareness of better healthcare facilities, increasing population in various countries, and rising occurrences of many chronic diseases. The Asia Pacific being an untapped market is likely to become a major market in the future owing to the presence of untapped opportunity arising mainly from developing countries like India and China.
Browse the full "Disabled and Elderly Assistive Technology Market: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 - 2024" report at https://www.zionmarketresearch.com/report/disabled-elderly-assistive-technology-market
Latin America and the Middle East & Africa are also important regional markets which are likely to register moderate growth rate over the forecast period. The countries in these regions are projected to register noticeable growth owing to high burden of chronic diseases, rising geriatric population base, and increased government funding. Thus, all the above parameters are expected to propel the disabled and elderly assistive technology market growth in these regions for disabled and elderly assistive technology.
Some of the leading players in disabled and elderly assistive technology market include GN Resound Group, Drive Medical Design And Manufacturing, Freedom Scientific, Inc., Ai Squared, Blue Chip Medical Products, Inc., Bausch & Lomb, Inc., Permobil AB, Sonova Holding AG, William Demant Holding A/S, and Wintriss Engineering Corporation.
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This report segments the global disabled and elderly assistive technology market as follows:
Global Disabled and Elderly Assistive Technology Market: Product Segment Analysis
- Medical Mobility Aids and Ambulatory Devices
- Wheelchairs
- Scooters
- Crutches & Canes
- Transfer Lifts
- Walkers & Rollators
- Slings
- Assistive Furniture
- Beds
- Riser Reclining Chairs
- Railings & Bar
- Door Openers
- Bathroom Safety and Assistive Products
- Commodes & Shower Chairs
- Ostomy Products
- Others
- Communication Aids
- Speech & Writing Therapy
- Hearing Aids
- Vision & Reading Aids
- Activity Monitors
- Location Monitors
- Others
Global Disabled and Elderly Assistive Technology Market: End-User Segment Analysis
- Hospitals & Nursing Homes
- Assisted Living Facilities
- Home Care
Global Disabled and Elderly Assistive Technology Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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