Elderly and Disabled Assistive Devices Market to Expand at CAGR of 5.3% during Forecast Period, Notes TMR Study

- Increase in government backing and attempts to guarantee the accessibility of these devices for a broad consumer population is likely to bolster the growth of the elderly and handicapped assistive devices market

- Due to growth in senior population, the market in Asia Pacific is expected to develop at a rapid pace during the forecast period

News provided by

Transparency Market Research

Jan 25, 2022, 07:30 ET

ALBANY, N.Y., Jan. 25, 2022 /PRNewswire/ -- Transparency Market Research: The global elderly and disabled assistive devices market was valued at US$ 20.7 Bn in 2020 and is expected to attain valuation of US$ 31.6 Bn by the end of 2028. The market is estimated to rise at a CAGR of 5.3% during the forecast period, from 2021 to 2028. Manufacturers are likely to profit from the growing demand for technologically enhanced assistive gadgets among the aging and disabled populace. In the forthcoming years, the global elderly and disabled assistive devices market is likely to be driven by increasing presence of various companies in the market.

Toilet safety devices, wheelchairs, medical beds, vision and reading aids, mobility scooters, hearing aids, and other assistive equipment are quite popular among the disabled and elderly. These devices are highly beneficial to them, since they make daily tasks such as reading, walking, and listening much better and simpler for them. Consumers are increasingly looking for products that are efficient, dependable, and safe. In order to keep ahead of the growing competition in the global market, manufacturers are focused on product innovation utilizing advanced techniques. However, in certain developing nations, exorbitant costs and a lack of knowledge about assistive devices for the elderly are key restraints in the global elderly and disabled assistive devices market.

Request Brochure of Elderly and Disabled Assistive Devices Market Research Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=1629

Rise in government assistance and attempts to guarantee the supply of these devices for a wide consumer base are credited with the growth of the global elderly and disabled assistive devices market.

Key Findings of Market Report

Due to its excellent features such as agility, flexibility, and comfort, and assistive devices are becoming increasingly popular among the elderly and disabled. This factor is estimated to present prospective revenue opportunities for manufacturers of assistive devices serving the elderly and disabled.
In terms of revenue, the hearing aids category accounted for a considerable market share in 2021. This is due to the presence of an incredibly large number of individuals who suffer from hearing loss and the emergence of technologically improved devices such as bone-anchored hearing aids (BAHA) and cochlear implants.

Request for Analysis of COVID-19 Impact on Elderly and Disabled Assistive Devices Market – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=1629

The worldwide elderly and disabled assistive devices market is driven by increasing adoption of sophisticated technologies in the production of assistive devices for the elderly and disabled. Geriatric people benefit from the use of automated assistive devices, as they eliminate manual labor.
The medical mobility aids and ambulatory devices category is predicted to grow at a high growth rate, owing to growth in elderly population and increase in government assistance in the form of subsidies and grants for the purchase of mobility equipment
Governments in the U.K., Switzerland, and the U.S. provide funding to disabled people for the purchase of assistive devices, whereas the Canada Government permits disabled people to pay little or no tax at all

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough, Request for Custom Research - https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=1629

Global Elderly and Disabled Assistive Devices Market: Growth Drivers

The geriatric population is susceptible to a variety of physical impairments, including vision and hearing loss, as well as immobility. These limitations are likely to necessitate the use of assistive devices to carry out daily chores such as reading, moving, listening, etc.
Software advancements in video magnifiers, Braille translators, and reading machines have expanded the range of applications and patient segments. For instance, the introduction of portable video magnifiers onto the market by several businesses has raised demand for these devices among visually challenged people who can afford them.

Buy Elderly and Disabled Assistive Devices Market Research Report – https://www.transparencymarketresearch.com/checkout.php?rep_id=1629&ltype=S

Global Elderly and Disabled Assistive Devices Market: Key Players

Some of the key market players are

Blue Chip Medical Products, Inc.
William Demant Holding A/S
Bausch & Lomb, Inc.
Drive Medical Design and Manufacturing
Sunrise Medical LLC
Sonova Holding AG

Global Elderly and Disabled Assistive Devices Market: Segmentation

Type

Medical Mobility Aids & Ambulatory Devices
Medical Furniture & Bathroom Safety Products
Hearing Aids
Vision & Reading Aids

Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research:

Refurbished Medical Imaging Equipment Market: Refurbished medical imaging equipment are restored to the original specification when these were purchased new. Medical imaging equipment are refurbished in two ways; cosmetic refurbishment and mechanical-electrical refurbishment. The cosmetic refurbishment process includes painting and surface treatment.

Fish Collagen Peptides Market: Increasing consumer awareness about the health benefits of fish collagen peptides in reducing joint pain and improving gut health will continue to be an important factor driving sales in the fish collagen peptides market space. However, marine collagen is gaining popularity for its effects on improving skin elasticity and hair health.

Immunotherapy Drugs Market: The global immunotherapy drugs market is driven by the rising incidences of cancer. The major factor for most cancers is the rise in geriatric population, as cancer rates increase with age. According to a report from WHO in 2015, approximately 50% of people treated with cancer in the U.K. are over the age of 60.

About Us

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

For More Research Insights on Leading Industries, Visit Our YouTube Channel and hit subscribe for Future Update - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ

Contact

Mr. Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY – 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: [email protected]
Follow Us: Twitter | LinkedIn
Blog: https://tmrblog.com
Browse PR - https://www.transparencymarketresearch.com/pressrelease/elderly-disabled-assistive-devices.htm