Dublin, Feb. 20, 2024 (GLOBE NEWSWIRE) -- The "Disabled and Elderly Assistive Technology - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Disabled and Elderly Assistive Technology Market to Reach $41.7 Billion by 2030
The global market for Disabled and Elderly Assistive Technology estimated at US$24.9 Billion in the year 2022, is projected to reach a revised size of US$41.7 Billion by 2030, growing at a CAGR of 6.6% over the analysis period 2022-2030.
Communication Aids, one of the segments analyzed in the report, is projected to record a 6.3% CAGR and reach US$15.1 Billion by the end of the analysis period. Growth in the Mobility Assistance segment is estimated at 7.7% CAGR for the next 8-year period. 
The report focuses on the evolving landscape of assistive technologies, considering the global economic context and competitive dynamics. It examines the competitive market presence, categorizing players worldwide based on their strength and activity levels in 2023.
An introduction to disabled and elderly assistive technology sets the stage, highlighting the persistent gap in access to such technologies despite advancements. The report also delves into the pandemic's impact, noting how it accelerated the aging-in-place trend and created opportunities in the market.
With a rise in the geriatric and disabled population, the need for assistive technologies is growing, driving innovation and market activity. Recent developments in the sector reflect ongoing efforts to address these evolving needs and market dynamics.
The U.S. Market is Estimated at $10.8 Billion, While China is Forecast to Grow at 9.2% CAGR
The Disabled and Elderly Assistive Technology market in the U.S. is estimated at US$10.8 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$4.7 Billion by the year 2030 trailing a CAGR of 9.2% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.1% and 6.6% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 6.1% CAGR.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 434 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $24.9 Billion |
| Forecasted Market Value (USD) by 2030 | $41.7 Billion |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Global |
MARKET TRENDS & DRIVERS
- Smart Assistive Technologies Enable Productive Lives for Elderly Population
- Artificial Intelligence Making Significant Contributions to Assistive Technology
- Personalized and Adaptive Control Systems for Assistive Technologies Gain Momentum
- Robotics Stride Ahead to Restore Mobility and Supplement Physiotherapist Efforts in Stroke Patients
- Assistive Robotics: Transforming the Future Via Technology
- Growing Emphasis on Workplace Inclusion to Drive Adoption of Assistive Technologies
- Sustained Advancements in Assistive Technologies & Focus on R&D Efforts to Boost Adoption
- Select Innovations in Disabled and Elderly Assistive Technologies
- Senior-Friendly mHealth and Telehealth Technologies Facilitate Independent Living
- IoT Solutions to Improve Senior Care and Help Seniors Community Live Independent Life
- Rising Incidence of Physical Disabilities: A Grim Reality Driving Significance of Assistive Living Technologies
- Therapy and Rehabilitation Outside the Hospital Settings
- Assistive Technology Trends to Impact the Assistive Furniture Market
- Increasing Incidence of Musculoskeletal Disorders and Chronic Medical Conditions Propels Market Growth
- Osteoarthritis & Osteoporosis: Major Health Conditions Affecting Mobility in the Elderly
- Obesity & Lifestyle Diseases Limit Mobility
- Increase in Number of Fractures and Rise in incidence of Delayed Union & Nonunion Bone Fractures Elevates Demand for Assistive Furniture
- Rise in Vertebral Fractures to Steer Growth
- Shift towards Home Healthcare Augurs Well for Market Growth
- As Hearing Impairment Emerges as a Major Disability Especially among Elderly, Hearing Devices Provide Aid in Maintaining Independent Lifestyles
- Personal Mobility Devices: Need for Mobility Drives Market Growth
- Favorable Trends in the Personal Mobility Devices Market Strengthen Market Prospects
- Wheelchairs: Meeting Mobility Needs of the Elderly & Disabled for Personal, Social, and Professional Fulfillment
- Powered Wheelchairs: Superior Attributes over Manual Wheelchairs Drive Demand
- High-tech Wheelchairs for Spinal Cord Injury Patients
- Stair Lifts: Enabling Easy Movement for Immobile Individuals
- Design Modifications and Infrastructure Development in Care Facilities & Residences Propels Market
- Rising Incidence of Cognitive Impairment Issues Drive Focus onto Assistive Speech Technology
- Progressive Mobility: A Growing Area of Focus in Bed Design
- Rising Healthcare Costs Accelerates the Shift to Low Cost Alternate Care Sites Including Patient Centered Medical Homes
- Challenges Confronting Disabled and Elderly Assistive Technology Market
FOCUS ON SELECT PLAYERS(Total 150 Featured)
- Aetna, Inc.
- Broda Seating
- AC Mobility Pty., Ltd.
- Action Manufacturing, Inc.
- Advanced Mobility Systems Corporation
- Amigo Mobility International, Inc.
- Aqua Creek Products
- Bionik Laboratories Corporation
- BladeZ Scooters
- Bromakin Wheelchairs
- Blue Chip Medical Products, Inc.
- Arjo AB
- Besco Medical Limited
- AlterG, Inc.
- Beltone A/S
For more information about this report visit https://www.researchandmarkets.com/r/yy1cri
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