Global Market for Disabled and Elderly Assistive Technologies Forecast to Reach $57.9 Billion by 2026, Growing at a CAGR of 5.6% during 2021-2026

Dublin, Dec. 29, 2021 (GLOBE NEWSWIRE) -- The "Global Disabled and Elderly Assistive Technologies" report has been added to ResearchAndMarkets.com's offering.

The population of the world is growing and ageing. According to World Population Prospects 2019, by 2050, one in six people worldwide will be over the age of 65, up from one in 11 in 2019. The burden of functional and cognitive limitations increases with age in both severity and magnitude. As a result, there is a greater prevalence of disability among population groups and an increasing need for assistance and care.

Assistive technology (AT) products are designed to assist people who, because of specific disabilities or the general infirmities that often accompany ageing, would otherwise be unable to participate meaningfully in economic, social, political, cultural and other forms of human activity in their communities. Assistive technology encompasses a broad range of devices, from "low-tech" products such as canes, walkers, etc., to technologically sophisticated products such as voice recognition software and augmentative communication devices. These devices enhance the quality of life for the individual, family members and caregivers. AT significantly enhances disabled people's access to education, livelihood, health and well-being.

The World Health Organization (WHO) estimates one billion people need assistive technology, a figure that will rise to more than two billion by 2050. Key growth factors driving demand for disabled and elderly assistive technologies/devices include:

• An ageing population

• More people with chronic illnesses

• An increasing preference to deliver healthcare outside hospitals

• A focus on the use of technology to increase productivity and reduce ancillary costs

Given the growing awareness and funding for elderly care, healthcare infrastructure and purchasing power improvements in emerging countries this untapped market provides a vast opportunity for assistive devices manufacturers. Market restraint factors include the high cost of assistive devices, pricing pressures and reimbursement restrictions

The global market for assistive technologies is projected to grow from $44.1 billion in 2021 to $57.9 billion by 2026, growing at a CAGR of 5.6% during the forecast period.

Assistive technologies and devices constantly evolve. Many new and exciting assistive devices for people with disabilities have entered the market that enhances independent living, improve health, enhance social inclusion, and reduce healthcare and living expenses. Continuous technological innovations present more choices, potential, and possibilities for using assistive devices for different types of disabilities, all of which are driving the market growth.

Report Scope

• An updated review of the global market for disabled and elderly assistive technologies (AT)/assistive devices

• Analyses of the global market trends, with historic data from 2019-2020, estimates for 2021, and projections of compound annual growth rates (CAGRs) through 2026

• Evaluation and forecast the overall market size in dollar value terms, and corresponding market share analysis by product type and geographic region

• Technology Assessment of the key drivers and constraints that will shape the market for disabled and elderly assistive technologies over the next ten years

• Coverage of major product types and applications, both in the commercial and developmental phase

• Identification of the major stakeholders and analysis of their competitive landscape based on recent developments and segmental revenues

• Review of various new premarket approvals (PMA) and 510(k) clearances received in the disabled and elderly assistive technology and devices market between Jan. 2018 to Sept. 2021

• Insight into the recent industry structure, current competitive scenario, R&D activities, regulatory and legislative issues, and license agreements currently focused on disabled and elderly assistive technologies and devices market

• Company profiles of the key industry players, including Cochlear Ltd., Invacare Corp., Savaria Corp., Sonova Holdings AG, GN Group and ConvaTec

Key Topics Covered:

Chapter 1 Introduction

Chapter 2 Summary and Highlights

Chapter 3 Market and Technology Background

• Disability

• Assistive Technology

• Disability Compared to Diseases

• Disability Statistics

• Hearing Loss

• Blindness and Vision Impairment

• Communication Disorders

• Loss of Mobility and Dexterity

• Neurological Dysfunction

Chapter 4 Market Breakdown by Product Type

Chapter 5 Market Breakdown by Region

Chapter 6 Market Dynamics

• Market Drivers

• Aging Population

• Greater Incidence of Non-communicable/Chronic Diseases

• Increase in Incidence of Obesity

• Increase in Incidence of Road Accidents across All Geographies

• Technology Innovations and New Product Development

• Large Unpenetrated Addressable Market

• Desire to Age in Place

• Increasing Pressure to Curtail Healthcare Costs

• More Funding Programs for Assistive Devices

• Market Restraints

• High Cost of Assistive Devices

• Pricing Pressure

• Reimbursement Issues

• Impact of COVID-19

Chapter 7 Approvals and New Developments

• Premarket Approvals (PMA)

• 510(K) Clearances

• Mobility Aids

• Hearing Aids

Chapter 8 Competitive Landscape

• Major Players by Segment

• Mobility Aids

• Access Aids

• Beds, Seating Systems and Ergonomic Aids

• Daily Living Aids

• Communication Aids

• Medical/Personal Monitoring Aids

• Mergers and Acquisitions in the Assistive Technology Market

Chapter 9 Company Profiles

• Bruno Independent Living Aids Inc.

• Cobolt Systems Ltd.

• Cochlear Ltd.

• Convatec Group Plc

• Demant A/S

• Dolphin Computer Access Ltd.

• Dongguan Prestige Sporting Goods Co. Ltd.

• Drive Devilbiss Healthcare

• Duxbury Systems Inc.

• Essilorluxottica

• Etac Ab

• Gn Group (Gn Store Nord A/S)

• Humanware Group

• Inclinator Company Of America Inc.

• Invacare Corp.

• Liftavator Inc.

• Mobius Mobility Llc

• Ottobock Se & Co. Kgaa

• Pacesaver

• Permobil Ab

• Pride Mobility Products Corp.

• Savaria Corp.

• Sonova Holding Ag

• Sunrise Medical

• Starkey Hearing Technologies

• Terry Group Ltd.

• Tobii Dynavox Llc

• Tuffcare

• Vispero

• Ws Audiology A/S

• Yamaha Motor Co. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/ebljlm

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