Elderly And Disabled Assistive Devices Market is predicted to reach USD 40,271.47 million by 2030


The Global Elderly And Disabled Assistive Devices Market held USD 16,171.12 million in 2018 and is predicted to reach USD 40,271.47 million by 2030 with a CAGR of 7.9% from 2019-2030      

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The growing elderly population has increased chances of the various disabilities with their growing ages. These people are greatly dependent on other people or devices to perform day-to-day activities such as vision and hearing, locomotion, and other activities.       The use of elderly and disabled assistive devices has improved quality of life and boosted accessibility to disabled & geriatric patients. These devices may be ambulatory aids, hearing aids, braille translators, or text-to-speech reader. 
The government and NGOs providing the assistance to elder population with distribution of assistive product has boosted the elderly and disabled assistive devices market growth. According U.S. Census Bureau report of 2016, the population of age above 65 years and above will increase from 8.5% in 2015 to 12% till 2030 and additional increase to 16.7% by 2050. It also stated that Asia and Latin America region would witness more aged population in upcoming years. Thus the demand for and disabled assistive devices market will also increase in these years.
The factors that driven the elderly and disabled assistive devices market includes rise in technological advancements, demand for assistive technologies, and growing global geriatric population. Further, increasing funding from the government has led to rise in the demand of elderly and disabled assistive devices, thereby impacting the global elderly and disabled assistive devices market size. However, high cost of few sophisticated products and product recalls is hampering the growth of the elderly and disabled assistive devices market. The upsurge in value to better health conditions will create new opportunities for the elderly and disabled assistive devices market share in future. 
The elderly and disabled assistive devices market is segmented on the basis of device type, end user, and geography. On the basis of device type, the market is segmented into medical mobility aids & ambulatory devices, medical furniture & bathroom safety products, hearing aids, and vision & reading aids. On the basis of end user, the market covers hospital, home care settings, and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and LAMEA. 
North America registers highest market size and is anticipated hold the highest market share during the forecast period. This is attributable to the factors including enhanced developments in healthcare sector, high R&D investments, and technological advancements.
The Asia-Pacific region would witness increasing market size and is predicted to grow with highest CAGR during the forecast period. This is owing to increase in government funding, increasing geriatric and disabled population, and intensive R&D for developing products.

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Comprehensive competitive analysis and profiles of the major market players such as Sunrise Medical LLC, Starkey Hearing Technologies, Medical Design and Manufacturing, Ai Squared, Wintriss Engineering Corporation, Invacare Corporation, Siemens Ltd., William Demant Holding A/S, Drive GN ReSound Group, Sonova Holding AG, and others are provided in the elderly and disabled assistive devices market report.

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