elderly and disabled assistive The Pearl Dream Inc

Elderly and Disabled Assistive Devices Market is expected to register CAGR of 5.5% through 2026

Elderly and Disabled Assistive Devices Market 2030

PORTLAND, OREGON, UNITED STATES, June 30, 2023/EINPresswire.com/ — According to the report, the global elderly and disabled assistive devices market was pegged at $23.01 billion in 2018 and is projected to garner $35.60 billion by 2026, registering a CAGR of 5.5% from 2019 to 2026.

Market Growth: The Elderly and Disabled Assistive Devices market has experienced significant growth in recent years. This can be attributed to the increasing aging population, rising prevalence of disabilities, and advancements in technology.

Rising Demand for Mobility Devices: Mobility devices, such as wheelchairs, scooters, and walkers, are in high demand among the elderly and disabled population. These devices provide assistance with mobility and help improve independence and quality of life.

Technological Advancements: Technological advancements have revolutionized the assistive devices market. Innovations such as powered wheelchairs, smart home devices, wearable technologies, and robotics have significantly improved the functionality and usability of assistive devices.

Home Healthcare: With a growing preference for home healthcare, there is an increased demand for assistive devices that can be used in residential settings. Home healthcare devices include home medical equipment, monitoring systems, and personal care aids.

Personalized and Customized Solutions: There is a rising trend towards personalized and customized assistive devices. Manufacturers are focusing on developing products that can be tailored to individual needs, providing a better fit and improved user experience.

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Market Drivers:

Aging Population: The global population is experiencing a significant demographic shift, with a rapidly growing elderly population. As people age, the likelihood of developing disabilities or age-related conditions increases, creating a higher demand for assistive devices to enhance mobility, independence, and overall quality of life.

Prevalence of Disabilities: Disabilities can result from various factors such as accidents, chronic diseases, congenital conditions, or age-related issues. The prevalence of disabilities, including physical, sensory, and cognitive impairments, is increasing worldwide. Assistive devices play a crucial role in supporting individuals with disabilities by compensating for functional limitations and enabling active participation in daily activities.

Market Segmentation:

Product Type:
a. Mobility Assistive Devices: This segment includes wheelchairs, mobility scooters, walkers, canes, crutches, and other devices that aid in mobility and transportation.
b. Assistive Furniture and Beds: This segment includes adjustable beds, lift chairs, mobility beds, and other furniture designed to assist with sitting, standing, and sleeping.
c. Bathroom Safety and Assistive Devices: This segment includes grab bars, shower chairs, raised toilet seats, commodes, bath lifts, and other devices that enhance safety and accessibility in the bathroom.
d. Hearing Aids and Assistive Listening Devices: This segment includes hearing aids, cochlear implants, personal amplifiers, and other devices that assist individuals with hearing impairments.
e. Vision and Reading Aids: This segment includes magnifiers, screen readers, braille devices, and other products that aid individuals with visual impairments in reading and accessing information.
f. Medical Mobility Aids: This segment includes medical walkers, crutches, canes, orthopedic braces, and other devices used for rehabilitation and medical support.

End User:
a. Home Care: This segment includes assistive devices used in home settings by elderly and disabled individuals who receive care at home or live independently.
b. Hospitals and Nursing Homes: This segment includes assistive devices used in healthcare facilities to support patient mobility, accessibility, and rehabilitation.
c. Rehabilitation Centers: This segment includes devices used in rehabilitation centers for therapeutic purposes, including physical therapy, occupational therapy, and speech therapy.

The market can be segmented based on regional or country-specific analysis, as the demand for assistive devices and the availability of related infrastructure may vary across different regions.

Mode of Operation:
a. Manual Assistive Devices: This segment includes devices that are operated manually by the user, such as manual wheelchairs, crutches, and canes.
b. Powered Assistive Devices: This segment includes devices that are powered by electricity or batteries, such as powered wheelchairs, mobility scooters, and electric beds.

Distribution Channel:
a. Retail Stores: This segment includes brick-and-mortar retail outlets, pharmacies, and medical supply stores where assistive devices are sold directly to consumers.
b. Online Retail: This segment includes e-commerce platforms and online stores that offer a wide range of assistive devices for purchase.
c. Institutional Sales: This segment includes direct sales to hospitals, nursing homes, rehabilitation centers, and other healthcare institutions.

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Competitive Landscape:

The report provides detailed analysis of the key market players such as Drive Medical, AI Squared, Invacare, GN Resound Group, Pride Mobility Products Corporation, Nordic Capital (Sunrise Medical LLC), Sonova Holding AG, Siemens Ltd., William Demant Holding A/S, and Starkey hearing technologies. These companies have adopted various market strategies such as partnerships, collaborations, and mergers & acquisitions to maintain their foothold in the market.

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