"Designing Growth Strategies is in our DNA"

Assistive Technology Market Size, Share & Industry Analysis, By Product Type (Mobility Aids, Hearing Aids and Vision, Reading Aids, Sensory Aids, Others), By End-user (Hospitals, Home Care Settings, Others) And Regional Forecast, 2024-2032

Region : Global | Report ID: FBI105585 | Status : Ongoing

 

KEY MARKET INSIGHTS

Assistive technology consists of technology used by people with disabilities to maintain or improve the functional capabilities that might otherwise be difficult to perform. Assistive technology helps the person in moving and conducting everyday activities which consequently augment the growth of the market over the forecast period. For instance, as per WHO, it is estimated that more than 2 billion people will require at least 1 assistive product like hearing aids, wheelchairs or memory aids by 2030 due to rise in ageing global population along with a rise in non-communicable diseases.


The growing number of orthopaedic and neurological disorders is estimated to drive the assistive technology market over the forecast duration. For instance, in 2019, according to the Neurological Alliance, there were around 14.7 million neurological cases. It equates to at least 1 in 6 people living with one or more neurological condition which leads to learning disabilities, epilepsy etc. and therefore assistive technology helps in augmentation of muscle action, and reduction of weight-bearing load which will supplement the market growth.

However, higher price associated with assistive technology is estimated to restrain the market growth during the forecast period. Additionally, lower acceptance rate for the assistive products in the developing economies will obstruct the growth of the market. For instance, in 2018, as per world Health Organization (WHO), only 1 out of 10 people in need have access to assistive technology because of higher cost and a lack of awareness, policy and financing.

Key Market Driver -

Rising number of Orthopaedic & Neurological Disorders to Boost Market Growth

Key Market Restraint -

High Costs of Advanced Assistive technology


Market Segmentation:


Globally, the assistive technology market can be segmented into type, end-user and region. Based on type, the market has been divided into mobility aids, hearing aids and vision, reading aids, sensory aids and others.  Based on segmentation of end-user, the market can be categorized into hospitals, home care settings and others.

Geographically, the assistive technology market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.

Key Players Covered:


Some of the major companies that are present in the assistive technology market are Demant AS, GF Health Products Inc., GN Store Nord AS, Invacare Corp., Medical Depot Inc., Medline Industries Inc. Nordic Capital, Pride Mobility Products Corp. and others prominent players

Key Insights:



  • Technological Advancements in Assistive Technology Market

  • Key Industry Developments – Merger, Acquisitions, and Partnerships

  • Prevalence of orthopaedic Disease by Key Countries/Regions

  • Key Product Launches

  • COVID-19 Impact on Assistive Technology Market


Regional Analysis:


Based on segmentation of the region, the global assistive technology market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is projected to dominate the market in 2020 and is estimated to retain its leading position over the forecast duration. Factors such as increased demand of assistive products and services, rising geriatric population and government initiatives in increasing the focus towards rights of disable people are propelling the market growth in the region. For example, as per U.S. Bureau of Labor Statistics, the percentage of population employed with a disability was 17.9 percent in 2020. The European region is estimated to secure the second position in the market respectively, owed to the factors such as presence of large patient pool and improvements in healthcare infrastructure. For example, In 2020, as per European commission, one-fifth of the EU population have some form of disability. The EU and its member states are committed to improve economic situation of persons with disabilities by building the charter of fundamental rights. The APAC region is estimated to be the fastest growing market as greater initiatives are being undertaken by the governments, and presence of various well-established players in the market. The market growth in the region is also supplemented by increase in healthcare expenditure and increasing disposable incomes in countries such as India and China. The market in countries of Latin America and Middle East and Africa are expected to grow at a slower rate as compared to other regions owed to limited awareness related to assistive technology.

To gain extensive insights into the market, Request for Customization


Segmentation






















 ATTRIBUTES 

 DETAILS     

By Product Type



  • Mobility Aids

  • Hearing Aids and Vision

  • Reading Aids

  • Sensory Aids

  • Others



By End-user



  • Hospitals

  • Home Care Settings

  • Others



By Geography



  • North America (USA, Canada)

  • Europe (UK, Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, the Rest of Latin America)

  • Middle East & Africa (South Africa, GCC, and the Rest of the Middle East & Africa)



Assistive Technology Market Industry Developments 



  • In June 2021, GN hearing, GN, the global leader in sound and hearing innovation, announced the launch of Jabra Enhance Pro – a new, premium hearing aid line-up to be launched in more than 700 Costco Hearing Aid Centres worldwide.

  • In April, 2019, Demant A/S along with Philips announced the introduction of Philips branded hearing aids to the market. Philips brand entered the hearing healthcare market with wide range of premium hearing aids, accessories, and applications to best serve hearing aid users.


  • Ongoing
  • 2023
  • 2019-2022

    CHOOSE LICENSE TYPE

  • $4850
    $5850
    $6850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Healthcare Clients

Jubilant
abbvie
uniliver
Ansell
Siemens Healthineers

Client Testimonials

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X