The assistive technology market is primarily driven by the increasing prevalence of disabilities globally. As per the World Health Organization (WHO), over 1 billion people globally live with some form of disability. WHO estimates that the number may rise due to rapidly ageing population and increase in chronic health conditions. Assistive products help support the independence of individuals with disabilities by facilitating access to education and rehabilitation. Furthermore, ongoing technological advancement is another major factor fuelling the demand for innovative assistive devices. Novel technologies such as AI, 3D printing, and advanced material sciences are helping manufacturers develop assistive products with improved functionalities.
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Market Trends
The field of bionics and exoskeleton technology has gained significant traction in recent years. Bionic implants help restore physical functions in patients with disabilities by utilizing neural interfaces. For instance, adaptive arm and leg prosthetics are controlled by muscle signals or thoughts. Exoskeleton suits provide motorized support to improve mobility for people with conditions such as paraplegia. Leading players are investing heavily in developing next-gen bionic and exoskeleton solutions to better assist people with physical disabilities.
Assistive Technology Market Report Coverage
|
Report Coverage |
Details |
|
Market Revenue in 2023 |
$22.98 billion |
|
Estimated Value by 2030 |
$32.25 billion |
|
Growth Rate |
Poised to grow at a CAGR of 5% |
|
Historical Data |
2018–2021 |
|
Forecast Period |
2023–2030 |
|
Forecast Units |
Value (USD Million/Billion) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
By Product Type, By Disability Type, By Age Group, By End User |
|
Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
|
Growth Drivers |
• Aging population • Increasing disability rates • Technological advancements • Government initiatives and policies |
|
Restraints & Challenges |
• High costs • Lack of awareness and accessibility • Limited research and development • Fragmented market and standards |
Rising Adoption of Cloud-Based Assistive Care Technologies is a significant trend. Cloud-based assistive care technologies are increasingly accepted for providing continuous support to individuals with disabilities. Remote health monitoring platforms, smart appliances integrated with virtual assistants, and AI-powered personal care applications are some examples. These technologies enable remote supervision and empower independent living. They also help reduce costs associated with traditional in-person care services.
Market Opportunities
Mobility aids help improve the mobility and independence of individuals with disabilities. This segment held the largest market share in 2023. This is due to the growing geriatric population globally and increasing cases of mobility impairment. Key mobility aids include wheelchairs, walking aids, and others. Technological advancements like powered wheelchairs and exoskeletons are further driving the segment growth. Hearing and vision impairment affect a large population globally. Hearing aids and vision aids help improve hearing and vision functionality. Within this segment, hearing aids dominate due to the high prevalence of hearing loss among older adults. Technical upgrades in hearing aids with advanced features like Bluetooth connectivity and recharge ability are augmenting the demand. Meanwhile, vision aids like magnifiers and Braille displays or translators are gaining traction for assisting low vision.
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Key Market Takeaways
The global assistive technology market is anticipated to witness a CAGR of 5% during the forecast period 2023-2030. This is owing to the rising geriatric population and increasing cases of disabilities globally.
On the basis of product type, the mobility aids segment accounted for over 30% of the market share in 2023. This is due to the growing needs of the elderly for wheeled mobility solutions.
On the basis of end user, the hospitals segment dominated with more than 35% share owing to improved accessibility of assistive devices to inpatients and outpatients.
By region, North America is expected to hold a dominant position over the forecast period accounting for over 40% share. This is due to favourable reimbursement policies and established access to assistive technologies in the region.
Competitor Insights
Invacare Corporation
Sonova Holding AG
Demant A/S
AI Squared
GN Store Nord A/S
These players are focusing on new product launches, acquisitions, and geographic expansions to strengthen their market presence.
Recent Developments
The increasing use of artificial intelligence in assistive technology has led to more intuitive devices. Envision’s AI-powered glasses and apps are prime examples, helping visually impaired individuals with tasks such as reading and recognizing objects. The integration of AI in these devices offers real-time feedback, improving daily life for users.
Innovations in wearables include devices like the GyroGlove, which stabilizes hand tremors for Parkinson’s patients, and GUIDi, a smart belt for the visually impaired. These devices offer advanced haptic feedback and sensor integration, contributing to improved mobility and autonomy.
This development brings new delivery systems for critical medications, such as ARS Pharmaceuticals’ Neffy nasal spray, making life-saving drugs more accessible without the need for injections.
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Market Segmentation:
By Product Type:
- Mobility Devices
- Hearing Aids
- Vision and Reading Aids
- Communication Devices
- Daily Living Aids
- Prosthetics and Orthotics
- Assistive Software and Apps
- Others
By Disability Type:
- Mobility Impairment
- Hearing Impairment
- Visual Impairment
- Speech and Language Impairment
- Cognitive Impairment
- Others
By Age Group:
- Children
- Adults
- Elderly
By End User:
- Hospital
- Homecare Settings
- Others
By Region:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
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The global Disability Devices Market - Size, Share, Outlook, and Opportunity Analysis, 2024-2031
The global vision impairment market is estimated to be valued at US$ 4,951.3 million in 2022 and is expected to exhibit a CAGR of 8.83% during the forecast period (2023-2030).
The global Hospital Supplies Market is estimated to be valued at USD 31.50 Bn in 2024 and is expected to reach USD 52.65 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031
The global elderly and disabled assistive devices market is estimated to be valued at USD 28.10 Bn in 2024 and is expected to reach USD 47.11 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.7% from 2024 to 2031.
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