Assistive Technology Market
Assistive Technology Market - Global Industry Analysis 2016 - 2020 and Opportunity Assessment 2021 - 2031
Assistive Technology Market Segmented By Sensory aids, Mobility aids Devices for Hospitals, Clinics, Home Care Settings
Assistive Technology Market Forecast and CAGR
Assistive technology is used as a covering pattern for both assistive products, and their related services. Assistive products included traditional disability devices such as wheelchairs, hearing aids, and visual aids. It also includes advanced assistive technology solutions that help in enabling disabled persons to lead more positive lives through increased security, control, and social participation.
The market is projected to witness significant growth due to several factors such as the rising elderly population and rising healthcare costs, assistive technology provider’s landscape, and advancement in assistive technology. According to the report, the global assistive technology market is projected to witness a CAGR of 7.5% over the forecast period 2021 - 2031.
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What is Driving Demand for Assistive Technology?
Growth in developments of technological advancement in assistive devices, solutions, or services across various enterprises can enable clinics, hospitals, and home care, and other end-user. Assistive technology is majorly required by a broad range of people across the globe, physical and mental health improved such as people with chronic health conditions, as well as the people with disabilities and elderly people.
There is an increasing demand for professional development and training in assistive technology to arise educators’ knowledge and skills in a wide range of areas including a continuum of tools, collaborative processes, strategies, services, and action planning, legal issues, resource, and data collection and analysis.
It offers various benefits such as reducing the need for formal health and support services, and long-term care, and the work of caregivers. The reliability of such benefits drives the growth of the assistive technology market.
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What is the impact of COVID-19 Pandemic Outbreak on Sales of Assistive Technology?
The effect of COVID-19 is having a significant impact on the assistive technology industry, disrupting raw materials supply, causing an inflationary risk on products, and disturbing the electronics value chain. It has also disrupted the delivery of assistive technology services, mainly due to infection control measures resulting in a lack of provider availability and reduced one-to-one services.
Assistive technology helps disabled people perform every task such as dressing, cooking, and eating and offer assistance to them to make them self-dependent. Assistive technology is also used to overcome impairments and secondary health conditions.
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US and Canada Market Outlook
The US is one of the strong markets for assistive technology globally. This is attributed to the high increase in demand for assistive technology for various end-users such as assistive technology education, clinics, and hospitals, among others. Furthermore, the U.S. has a strong market share in the global assistive technology market accounting for around 25%-30% of the market share in 2021.
Demand for end-user configuration in assistive technologies to improve users’ experience and the quality of the products, is one of the major factors driving the demand for the assistive technology market in North America. Assistive products assist functioning, which can be categorized by the functional metrics of mobility, hearing, vision, self-care, cognition, and communication.
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South Asia & Pacific Demand Outlook for Assistive Technology
Over the last few years, rapid smartphone, tablets and computers penetration, continuous adaptation to mobile applications, and effectiveness of assistive technology professional development and training are primary factors influencing the performance of clinical and hospital sectors, such factors are creating significant growth opportunities for players in the assistive technology market.
Assistive technology is a powerful tool to increase independence and improve participation. It helps individual children become mobile, communicate more effectively, see and hear better, and participate more fully in learning activities. Such important factors create new growth opportunities for assistive technology providers across the South Asia & Pacific regions.
Who are the Key Providers of Assistive Technology?
Some of the leading providers of assistive technology include
- Sunrise Medical Inc.
- Medical Depot Inc.
- GF Health Products
- Invacare Corporation
- William Demant Holding A/S
The key providers of assistive technology focus on forming strategic partnerships with leading agencies specializing in assistive technology solutions and devices to cater to improve their quality of life. The increasing desire among the population with visual disabilities to lead independent lives is fueling the demand for assistive technologies including reading machines, voice recorders, video magnifiers, and others.
- Sensory aids
- Mobility aids
- Home Care Settings
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- East Asia
- South Korea
- South Asia & Pacific
- Australia & New Zealand
- Rest of South Asia & Pacific
- Middle East & Africa
- GCC Countries
- South Africa
- North Africa
- Rest of Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Assistive Technology Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.