+1-518-618-1030 866 - 552 - 3453 USA-Canada Toll Free
Published Date: 2013-10-01Number of Pages: 106

Elderly and Disabled Assistive Devices Market (Medical Mobility Aids and Ambulatory Devices, Medical Furniture and Bathroom Safety Products, Hearing Aids and Vision & Reading Aids) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019

 

Rise in technological advancements has significantly revolutionized the market for elderly and disabled devices. For instance, introduction of powered wheelchairs in the market has eased the life of patients by reducing the time and energy required in operating it manually. In addition, cochlear implants have also reduced the need for wearing hearing aids externally. These technologically advanced products are gaining acceptance among the target population hence, demand for the same is increasing. The market is expected to grow at a CAGR of 6.9% from 2013 to 2019 to reach an estimated value of USD 19,684.9 million in 2019. This growth is attributed to rise in geriatric and disabled population, increasing government funding and introduction of technologically advanced products such as implants, powered wheelchairs, transfer lifts, portable reading machines and sensor based door openers.

Hearing aids accounted for the major share in the market of elderly and disabled assistive devices in 2012. This is due to the large population suffering from hearing impairments and mobility problems. According to World Health Organization (WHO), around 5% of total world population suffers from hearing loss annually. In addition, U.S. National Institute of Deafness and Other Communication Disorders (NIDCD) stated that the risk of hearing loss in elderly population increases by 10%. Around 524 million people globally belonged to geriatric segment in 2010 and it has been estimated that it will reach around 2,000 million in 2050. This increasing geriatric population will boost the growth of assistive devices significantly. The market for medical mobility aids and ambulatory devices, which is the second largest market segment, is expected to show the highest growth during the forecast period.

Geographically, the North American region constituted the largest market share for elderly and assistive devices in 2012. However, Asia-Pacific is predicted to foresee the highest growth rate from 2013 to 2019 at a CAGR of over 6%. This growth can be attributed due to increase in government funding, a large elderly and disabled population and rising disposable incomes. It is estimated that Asia-Pacific will show tremendous increase in geriatric and disabled population due to increasing life expectancy and improvement in healthcare facilities. Around 456,303 million people will be aged above 65 years by 2025 in Asia-Pacific. Intensive R&D for developing products with better features will also boost the growth of this market. For instance, the China Rehabilitation Research Center (CRRC) was formed in 1988 by the Chinese and Japanese governments together for R&D in this field.

The elderly and disabled assistive devices market is dominated by few players namely Sonova Holding AG, William Demant Holding A/S, Invacare Corporation, Sunrise Medical LLC, GN ReSound Group and Ai Squared. These companies accounted for more than 50% of the total market. The companies adopt various business strategies such as acquisitions and mergers to expand their geographic presence as well as product portfolios. For instance, in 2011, Invacare Corporation acquired U.S. based Dynamic Medical Systems to establish a strong presence in western U.S.

 

global-elderly-and-disabled-assistive-devices-market-by-types-2012

Elderly and disabled assistive devices comprise of all the devices that are utilized by the population for movement, listening, reading and other activities of life. Geriatric population are not self dependent for various day to day activities of life, they need support of various equipments and devices to perform different needful things of life. In the same manner, disabled people also require these devices. The devices which make their life easy, comfortable and independent are classified as elderly and disabled assistive devices. The overall elderly and disabled assistive devices market is segmented into medical mobility aids and ambulatory devices, medical furniture and bathroom safety products, vision and reading aids and hearing aids.

Each of the segments has been further classified into various sub-segments based on the types of products. Medical mobility aids and ambulatory devices include wheelchairs, medical scooters, cranes and crutches, door openers, walkers and rollators and transfer lifts. Medical furniture and bathroom safety products include medical beds, commodes and showers chairs, ostomy products and bars and railings. Vision and reading aids include Braille translators, reading machines and video magnifiers. Hearing aids include receiver-in-the-ear aids, behind-the-ear aids, in-the-ear aids, canal hearing aids, bone anchored hearing aids and cochlear implants. The market size and forecast for the period 2011 to 2019, in terms of USD million, considering 2012 as the base year has been provided for each segment and sub-segment in the report. The compounded annual growth rate (CAGR) for each segment has been provided for the forecast period from 2013 to 2019. 

The global elderly and disabled assistive devices market has been segmented geographically in four regions, namely, North America, Europe, Asia-Pacific and Rest of the World (RoW). The market size and forecast of each region coupled with their market growth has been provided. The report also provides market overview that includes drivers, restraints and opportunities of the market. In addition, it also provides Porter’s five forces analysis and market attractiveness analysis for the elderly and disabled assistive devices market.

The report concludes with competitive landscape and company profiles of the market. Competitive landscape provides the market share of major players in the industry for the year 2012. Some of the significant players in this market include Sonova Holding AG, William Demant Holding A/S, Invacare Corporation, Sunrise Medical LLC, GN ReSound Group and Ai Squared. These market players have been profiled on the basis of attributes such as company overview, strategies adopted by the market leaders to ensure growth, sustainability, financial overview and recent developments.

The global elderly and disabled assistive devices market have been segmented as below:
Elderly and Disabled Assistive Devices Market, by Types
  • Medical Mobility Aids and Ambulatory Devices 
    • Wheelchairs
    • Mobility Scooters
    • Cranes and Crutches
    • Walkers and Rollators
    • Transfer Lifts
    • Door Openers
    • Others (Cushions, Pillow and Back Support)
  • Medical Furniture and Bathroom Safety Products;
    • Medical Beds
    • Commodes & Showers Chairs
    • Ostomy Products
    • Bars and Railings
    • Others (Bath lifts and Pool Lifts)
  • Hearing Aids
    • Receiver-in-the-Ear (RITE) Aids
    • Behind-the-Ear (BTE) Aids
    • In-the–Ear (ITE) Aids
    • Canal Hearing Aids
    • Bone Anchored Hearing Aids (BAHA)
    • Cochlear Implants
  • Vision and Reading Aids
    • Video Magnifiers
    • Braille Translators
    • Reading Machines
    • Others (Books and Kitchen Appliances)
Elderly and Disabled Assistive Devices Market, by Geography
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World (RoW)


 
 
Back To Top