July 17, 2024

Elderly and Disabled Assistive Solutions is the largest segment driving the growth of Elderly and Disabled Assistive Devices Market

Elderly and disabled assistive devices provide independence, mobility and quality of life to senior citizens and disabled people. These devices include wheelchairs, mobility scooters, medical furniture and bathroom safety devices. They help elderly and disabled perform day to day activities with ease.

The global Elderly and Disabled Assistive Devices Market is estimated to be valued at US$ 27.77 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Technological advancement in assistive devices is one of the major trends witnessed in the elderly and disabled assistive devices market. Emergence of powered wheelchairs with advanced features like obstacle detection sensors, remote controls and integrated GPS navigation are gaining popularity. Devices are becoming more lightweight, affordable and easy to use. Touchscreen enabled devices allow users to operate multitude of functions with eas
SWOT Analysis
Strength: Elderly and Disabled Assistive Devices have large potential customer base due to increasing aging population. They improve quality of life and help patients remain independent.
Weakness: High costs associated with assistive devices limit their adoption. Lack of awareness in developing nations.
Opportunity: Growing health awareness and improving healthcare infrastructure will drive the market. Technological advances enable development of smarter and affordable devices.
Threats: Stringent regulations delay product launches. Intense competition from existing and new entrants.

Key Takeaways
The global Elderly and Disabled Assistive Devices market is expected to witness high growth, exhibiting CAGR of 5.2% over the forecast period, due to increasing aging population worldwide.

Regional analysis: North America dominates the market currently owing to supportive government policies and rapid technological advancements. Asia Pacific is expected to witness fastest growth due to rising senior population, increasing healthcare expenditure and improving access.

Key players: Some of the prominent players operating in the elderly and disabled assistive devices market are Sonova Holding AG, Bausch & Lomb, Inc., Permobil AB, Siemens Healthcare, and Freedom Scientific, Inc.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it