Elderly And Disabled Assistive Devices Market Report 2024-2032: Scope, Share, Size, Outlook, Forecast

(MENAFN- IMARC Group) IMARC Group's report titled “Elderly and Disabled Assistive Devices Market Report by Service Type (Mobility Aids Devices, Living Aids Devices, Medical Furniture, Bathroom Safety Devices), End User (Hospitals, Nursing Homes, Assisted Living Facilities, Homecare), and Region 2024-2032” . The global elderly and disabled assistive devices market size reached US$ 31.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 52.3 Billion by 2032, exhibiting a growth rate (CAGR) of 5.8% during 2024-2032.

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Factors Affecting the Growth of the Elderly and Disabled Assistive Devices Industry:

• Government Initiatives and Healthcare Policies:

Government policies and initiatives play an important role in driving the growth of the market. Various governments around the world are implementing supportive policies, offering subsidies and funding programs to facilitate access to assistive devices, recognizing their importance in enabling independence for the elderly and persons with disabilities. Are. These initiatives often include insurance coverage expansions, tax cuts, and direct funding, which reduce the financial burden on end users and encourage the adoption of assistive technologies. Furthermore, legislative frameworks mandating the availability of assistive devices in public places and institutions are creating a more inclusive society. Such policies not only increase demand for assistive devices but also encourage manufacturers to invest in research and development (R&D), foster innovation, and expand the range of products available to meet the diverse needs of this growing user base. Encourage for.

• Demographic Shifts:

As life expectancy increases due to advances in health care, the prevalence of age-related diseases such as arthritis, osteoporosis, and Alzheimer's increases, as well as disability causing the need for assistive devices. The demographic shift towards a more significant elderly population segment drives demand for various assistive products, ranging from mobility aids such as walkers and wheelchairs to daily living assistive devices and communication devices. This demographic change ensures innovation in the development of mobility aid devices. Additionally, there is a growing need for assistive devices to enhance quality of life, promote independence, and reduce dependence on caregivers.

• Technological Advancements:

Innovations such as mobility aids, hearing aids and assistive furniture are constantly evolving, incorporating advanced features such as wireless connectivity, artificial intelligence (AI) and robotics. These enhancements improve autonomy and quality of life for users, providing more user-friendly, efficient and effective solutions. Additionally, the integration of AI into mobility devices allows for better navigation and obstacle avoidance, ensuring greater safety. Additionally, the advent of smart home technologies facilitates seamless interaction with various devices, promoting a more independent and comfortable living environment. As technology advances, the adoption rate of these devices is increasing.

Leading Companies Operating in the Global Elderly and Disabled Assistive Devices Industry:

• Carex Health Brands Inc.
• Demant A/S
• GF Health Products Inc.
• GN Hearing A/S
• Invacare Corporation
• Kaye Products Inc.
• Medical Depot Inc.
• NOVA Medical Products
• Pride Mobility Products Corporation
• Sonova Holding AG
• Starkey Hearing Technologies
• Sunrise Medical Inc.

Elderly and Disabled Assistive Devices Market Report Segmentation:

By Service Type:

• Mobility Aids Devices
  • Wheelchairs
  • Mobility Scooters
  • Cranes and Crutches
  • Walkers and Rollators
  • Transfer Lifts
  • Door Openers
  • Others
• Living Aids Devices
  • Reading and Vision Aids
  • Hearing Aids
• Medical Furniture
  • Medical Beds
  • Medical Furniture Accessories
  • Door Openers
  • Others
• Bathroom Safety Devices
  • Commodes
  • Bars, Grips, and Rails
  • Shower Chairs
  • Ostomy Products

Mobility aids devices represent the largest segment due to the rising geriatric population around the world, seeking efficient mobility aid.

By End User:

• Hospitals
• Nursing Homes
• Assisted Living Facilities
• Homecare

Hospitals exhibit a clear dominance in the market owing to the increasing number of patients seeking effective healthcare services.

Regional Insights:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

North America's dominance in the elderly and disabled assistive devices market is attributed to the rising awareness about assistive devices and their benefits
among senior individuals.

Global Elderly and Disabled Assistive Devices Market Trends:

Increasing awareness and social acceptance of disabilities and the needs of the elderly population is driving market growth. Public education campaigns, advocacy by non-profit organizations, and representation in the media are playing an important role in normalizing the use of assistive devices, reducing stigma and encouraging individuals to seek help and adopt assistive solutions. Is. As society becomes more inclusive, the demand for devices that assist in mobility, communication and activities of daily living is increasing. This increased awareness also leads to early diagnosis and treatment, thereby increasing the market demand for these devices. The societal shift toward embracing diversity and inclusion in physical and cognitive abilities is thus helpful in fostering an environment where the use of assistive devices is normalized, thereby expanding the customer base and promoting technological and product advancements. Is.

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