The disabled and elderly assistive devices include all means that could be utilized by the population who are not self dependent. These devices greatly help the needy in listening, reading, moving and conducting other day to day activities of life. Moreover, they require support of different devices and equipments to perform all necessary things of life. These devices help both disabled and elderly patients, making their life comfortable, easy and independent. Growing incidences of disabled and geriatric population contributes to the growth of this market. Additionally, it is forecast that global elderly population will reach to 2000 million by 2050. Growing government initiatives and its support to ensure the accessibility of these devices for the large needy population as well as subsidies and grants provided by various private bodies would support for the growth of this market. However, high product pricing and low level of acceptance for few products hinders the growth of this market.
The key companies profiled in this report are Sunrise Medical LLC, Sonova Holding AG, Ai Squared, Blue Chip Medical Products, Inc., Bausch & Lomb, Inc., GN Resound Group, Permobil AB, Wintriss Engineering Corporation, Siemens Healthcare, Invacare Corporation and others. Technological advancement is the key strategy adopted by the companies.
The global elderly and disabled assistive devices market is segmented by product type and geography. Based on products, the market is segmented into medical furniture & bathroom safety products and medical ambulatory & mobility aids devices. Medical ambulatory and mobility aids devices market has shown the highest growth rate due to rising incidences of limb immobility and geriatric population. The geography market is segmented into various regions such as North America, Europe, Asia Pacific and LAMEA. North America has the largest market share due to the high disposable income and beneficial reimbursement scenario. The Asia-Pacific region witnesses the highest CAGR due to the rising support of the governments and increasing incidences of geriatric population.
The market is segmented into types and geographies as follows:
MEDICAL FURNITURE AND BATHROOM SAFETY PRODUCTS:
MEDICAL AMBULATORY AND MOBILITY AIDS DEVICES: