Assistive technology devices are products, equipment, or devices that are used to increase, improve, or maintain functional capabilities of the people with disabilities. These devices do not include surgically implanted medical devices. Assistive technology devices used by disabled people can be hardware tools, software tools, or stand-alone devices. Assistive technology devices are available in several types to address different functional capabilities of the people with different disabilities. These devices are manufactured to support vocational aids, assistive listening and environmental aids, aids for daily living, academic and learning aids, mobility aids, and others. Assistive technology devices help disable people perform everyday tasks such as cooking, dressing, and eating and provide assistance to them to make them self-dependent. Assistive technology devices help overcome impairments and secondary health conditions.
Government initiatives to offer assistance for development of national policies and programs regarding assistive devices and technologies with a focus on human resource development are likely to drive the global market for assistive technology devices during the forecast period. Advancements in health care facilities, rising number of collaborations between health care providers and insurance companies, and growing awareness regarding assistive technology devices are major factors driving the global assistive technology devices market. Furthermore, growing elderly population and rising incidence of chronic diseases such as arthritis, diabetes, and obesity are generating high demand for assistive technology devices in developed countries. High costs of devices and low awareness about assistive technology devices in low-income countries are major restraining factors for the global assistive technology devices market. According to the WHO, only 5%–15% of people that need assistive devices and technologies have access to them in several low-income and middle-income countries. Growing popularity of assistive technology devices among people has generated high demand for these devices, which provides immense growth opportunities for established as well as emerging market players.
The global assistive technology devices market can be segmented based on device type, indication, end-user, and region. In terms of device type, the global assistive technology devices market has been segmented into mobility impairment devices, visual impairment devices, hearing impairment devices, and others. The mobility impairment devices segment has been sub-segmented into wheelchairs, transfer devices, walkers, and prosthesis. The visual impairment devices segment has been sub-divided into wearable devices, screen readers, braille & braille embossers, and others. The hearing impairment devices segment has been sub-segmented into hearing aids, assistive listening devices, and amplified telephone equipment. The mobility impairment devices segment is likely to expand at the maximum rate during the forecast period, owing to rising technological advancements and increasing demand for mobility devices. In terms of indication, the global assistive technology devices market has been segregated into autism spectrum disorders, mobility impairment, cognitive disabilities, learning disabilities, communication disorders, and others. In terms of end-user, the market can be segmented into hospitals, clinics, and home care settings.
Based on region, the global assistive technology devices market can be been segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounts for a leading share of the global assistive technology devices market, followed by Europe. Presence of established key players, rise in the demand and popularity of mobility devices in the U.S., and increase in health care expenditure in the region are factors likely to augment the market for assistive technology devices in North America. The assistive technology devices market in developing regions such as Asia Pacific, Latin America, and Middle East & Africa is witnessing an introductory phase. These regions are anticipated to offer considerable growth opportunities to the assistive technology devices market during the forecast period, due to penetration of these regions by key players, rising disposable incomes, and presence of large population.
Key players operating in the global assistive technology devices market are MED-EL, Medical Depot (Drive Medical), GF Health Products, William Demant Holding A/S, Invacare Corporation, Hearing Health & Technology Matters, LLC, and Sunrise Medical.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.