Assistive Technology Market to witness USD 7.93 Bn growth | Driven by rising cases of orthopedic conditions

NEW YORK, June 24, 2022 /PRNewswire/ — The global assistive technology market size is expected to increase by USD 7.93 billion between 2020 and 2025, expanding at a CAGR of 7.26% during the forecast period. According to the report, the market will observe significant growth in North America. The growth of advanced healthcare facilities, rising healthcare spending, and the presence of government organizations that provide medical aid to people with limited income and financial resources are creating several growth opportunities for vendors operating in the region.

Technavio has announced its latest market research report titled Assistive Technology Market by Device and Geography - Forecast and Analysis 2021-2025

Technavio has announced its latest market research report titled Assistive Technology Market by Device and Geography – Forecast and Analysis 2021-2025

Buy Our Report Now to gain complete insights into the market size, market behavior, regional growth opportunities, and much more.

Vendor Landscape

The global assistive technology market is fragmented, and the degree of fragmentation will accelerate during the forecast period. The market is characterized by the presence of a large number of local and international players. International players offer a wide range of assistive technologies and offer devices and equipment for major health disabilities like leg injuries or disabilities, hearing disabilities, and paralysis. Local vendors mostly cater to people with particular diseases or for certain types of disabilities. This is resulting in intense competition in the regional markets. During the forecast period, the competition in the market is expected to further intensity with many companies making significant investments in emerging markets.

An increasing number of orthopedic and neurological disorders will create significant growth opportunities for market players. However, the high cost of mobility products might reduce the growth potential in the market. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Demant AS, Drive DeVilbiss Healthcare, GF Health Products Inc., GN Store Nord AS, Invacare Corp., MED-EL Elektromedizinische Gerate GmbH, Medline Industries Inc., Permobil AB, Sonova Holding AG, and Sunrise Medical LLC are identified as some of the major market participants.

View Our Report Sample for highlights on the vendor landscape and the factors impacting their growth.

Assistive Technology Market 2021-2025: Segmentation

The global assistive technology market is segmented as below:

The demand for sensory aids is significant in the market. The growth of the segment can be attributed to the rising focus on manufacturing products in compliance with industrial standards by leveraging advanced technologies. Also, the increasing demand for vision and reading aids, especially from the elderly and disabled population is contributing to the growth of the segment.

North America will account for 34% of the global market share. The substantial funding to improve healthcare facilities has ensured the availability of advanced products such as wheelchairs, mobility devices, and hearing devices. In addition, the increasing number of road accidents and the high prevalence of spinal injuries and orthopedic diseases are fostering the growth of the regional market.

Assistive Technology Market 2021-2025: Key Highlights

  • CAGR of the market during the forecast period 2021-2025

  • Detailed information on factors that will assist assistive technology market growth during the next five years

  • Estimation of the assistive technology market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the assistive technology market

  • Analysis of the market’s competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of assistive technology market vendors

Related Reports

Assistive Technology Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 7.26%

Market growth 2021-2025

USD 7.93 billion

Market structure

Fragmented

YoY growth (%)

3.39

Regional analysis

North America, Europe, Asia, and ROW

Performing market contribution

North America at 34%

Key consumer countries

US, Germany, Japan, UK, and France

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Demant AS, Drive DeVilbiss Healthcare, GF Health Products Inc., GN Store Nord AS, Invacare Corp., MED-EL Elektromedizinische Gerate GmbH, Medline Industries Inc., Permobil AB, Sonova Holding AG, and Sunrise Medical LLC

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents:

1. Executive Summary                                        

2. Market Landscape                            

2.1 Market ecosystem

Exhibit 01:  Parent market

2.2 Market Characteristics

Exhibit 02:  Market characteristics

2.3 Value chain analysis

Exhibit 03:  Value chain analysis: Healthcare Technology Market

2.3.1 Medical device OEMs and software developers

2.3.2 Connectivity and enablement

2.3.3 Network services

2.3.4 Middleware and application platforms

2.3.5 Distribution channels

2.3.6 System integrators and service delivery

2.3.7 Application support and maintenance

2.3.8 Marketing and sales

3. Market Sizing                      

3.1 Market definition

Exhibit 04:  Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 05:  Market segments

3.3 Market size 2020

3.4 Market outlook: Forecast for 2020 – 2025

Exhibit 06:  Global – Market size and forecast 2020 – 2025 ($ million)

Exhibit 07:  Global market: Year-over-year growth 2020 – 2025 (%)

4. Five Forces Analysis                         

4.1 Five Forces Summary

Exhibit 08: Five forces analysis 2020 & 2025

4.2 Bargaining power of buyers

Exhibit 09: Bargaining power of buyers

4.3 Bargaining power of suppliers

Exhibit 10: Bargaining power of suppliers

4.4 Threat of new entrants

Exhibit 11: Threat of new entrants

4.5 Threat of substitutes

Exhibit 12: Threat of substitutes

4.6 Threat of rivalry

Exhibit 13: Threat of rivalry

4.7 Market condition

Exhibit 14:  Market condition – Five forces 2020

5. Market Segmentation by Device                 

5.1 Market segments

The segments covered in this chapter are:

  1. Sensory aids

  2. Mobility aids

  3. Others

 

Exhibit 15:  Device – Market share 2020-2025 (%)

5.2 Comparison by Device

Exhibit 16:  Comparison by Device

5.3 Sensory aids – Market size and forecast 2020-2025

Exhibit 17:  Sensory aids – Market size and forecast 2020-2025 ($ million)

Exhibit 18:  Sensory aids – Year-over-year growth 2020-2025 (%)

5.4 Mobility aids – Market size and forecast 2020-2025

Exhibit 19:  Mobility aids – Market size and forecast 2020-2025 ($ million)

Exhibit 20:  Mobility aids – Year-over-year growth 2020-2025 (%)

5.5 Others – Market size and forecast 2020-2025

Exhibit 21:  Others – Market size and forecast 2020-2025 ($ million)

Exhibit 22:  Others – Year-over-year growth 2020-2025 (%)

5.6 Market opportunity by Device

Exhibit 23:   Market opportunity by Device

6. Customer landscape                        

Exhibit 24:  Customer landscape

7. Geographic Landscape                    

7.1 Geographic segmentation

The regions covered in the report are:

  1. North America

  2. Europe

  3. Asia

  4. ROW

Exhibit 25:  Market share by geography 2020-2025 (%)

7.2 Geographic comparison

Exhibit 26:  Geographic comparison

7.3 North America – Market size and forecast 2020-2025

Exhibit 27:  North America – Market size and forecast 2020-2025 ($ million)

Exhibit 28:  North America – Year-over-year growth 2020-2025 (%)

7.4 Europe – Market size and forecast 2020-2025

Exhibit 29:  Europe – Market size and forecast 2020-2025 ($ million)

Exhibit 30:  Europe – Year-over-year growth 2020-2025 (%)

7.5 Asia – Market size and forecast 2020-2025

Exhibit 31:  Asia – Market size and forecast 2020-2025 ($ million)

Exhibit 32:  Asia – Year-over-year growth 2020-2025 (%)

7.6 ROW – Market size and forecast 2020-2025

Exhibit 33:  ROW – Market size and forecast 2020-2025 ($ million)

Exhibit 34:  ROW – Year-over-year growth 2020-2025 (%)

7.7 Key leading countries

Exhibit 35:  Key leading countries

7.8 Market opportunity by geography

Exhibit 36:  Market opportunity by geography ($ million)

8. Drivers, Challenges, and Trends                  

8.1 Market drivers

8.1.1 Increasing number of orthopedic and neurological disorders

8.1.2 Growing demand for rehabilitation centers

8.1.3 Growing focus on compliance with industrial standards

8.2 Market challenges

8.2.1 High cost of mobility products

8.2.2 Presence of substitute products

8.2.3 Limited availability of assistive technology in rural markets

Exhibit 37:  Impact of drivers and challenges

8.3 Market trends

8.3.1 Growing adoption of hearing aids with rechargeable batteries

8.3.2 Increase in development of new products

8.3.3 Growing demand for customization

9. Vendor Landscape                            

9.1 Vendor landscape

Exhibit 38:  Vendor landscape

9.2 Competitive Scenario

9.3 Landscape disruption

Exhibit 39:  Landscape disruption

Exhibit 40:  Industry risks

10. Vendor Analysis               

10.1 Vendors covered

Exhibit 41:  Vendors covered

10.2 Market positioning of vendors

Exhibit 42:  Market positioning of vendors

10.3 Demant AS

Exhibit 43:  Demant AS – Overview

Exhibit 44:  Demant AS – Business segments

Exhibit 45:  Demant AS – Key offerings

Exhibit 46:  Demant AS – Segment focus

10.4 Drive DeVilbiss Healthcare

Exhibit 47:  Drive DeVilbiss Healthcare – Overview

Exhibit 48:  Drive DeVilbiss Healthcare – Product and service

Exhibit 49:  Drive DeVilbiss Healthcare – Key news

Exhibit 50:  Drive DeVilbiss Healthcare – Key offerings

10.5 GF Health Products Inc.

Exhibit 51:  GF Health Products Inc. – Overview

Exhibit 52:  GF Health Products Inc. – Product and service

Exhibit 53:  GF Health Products Inc. – Key offerings

10.6 GN Store Nord AS

Exhibit 54:  GN Store Nord AS – Overview

Exhibit 55:  GN Store Nord AS – Business segments

Exhibit 56:  GN Store Nord AS – Key news

Exhibit 57:  GN Store Nord AS – Key offerings

Exhibit 58:  GN Store Nord AS – Segment focus

10.7 Invacare Corp.

Exhibit 59:  Invacare Corp. – Overview

Exhibit 60:  Invacare Corp. – Business segments

Exhibit 61:  Invacare Corp. – Key news

Exhibit 62:  Invacare Corp. – Key offerings

Exhibit 63:  Invacare Corp. – Segment focus

10.8 MED-EL Elektromedizinische Gerate GmbH

Exhibit 64:  MED-EL Elektromedizinische Gerate GmbH – Overview

Exhibit 65:  MED-EL Elektromedizinische Gerate GmbH – Product and service

Exhibit 66:  MED-EL Elektromedizinische Gerate GmbH – Key news

Exhibit 67:  MED-EL Elektromedizinische Gerate GmbH – Key offerings

10.9 Medline Industries Inc.

Exhibit 68:  Medline Industries Inc. – Overview

Exhibit 69:  Medline Industries Inc. – Product and service

Exhibit 70:  Medline Industries Inc. – Key news

Exhibit 71:  Medline Industries Inc. – Key offerings

10.10 Permobil AB

Exhibit 72:  Permobil AB – Overview

Exhibit 73:  Permobil AB – Product and service

Exhibit 74:  Permobil AB – Key news

Exhibit 75:  Permobil AB – Key offerings

10.11 Sonova Holding AG

Exhibit 76:  Sonova Holding AG – Overview

Exhibit 77:  Sonova Holding AG – Business segments

Exhibit 78:  Sonova Holding AG – Key news

Exhibit 79:  Sonova Holding AG – Key offerings

Exhibit 80:  Sonova Holding AG – Segment focus

10.12 Sunrise Medical LLC

Exhibit 81:  Sunrise Medical LLC – Overview

Exhibit 82:  Sunrise Medical LLC – Product and service

Exhibit 83:  Sunrise Medical LLC – Key news

Exhibit 84:  Sunrise Medical LLC – Key offerings

11. Appendix                           

11.1 Scope of the report

11.1.1 Market definition

11.1.2 Objective

11.1.3 Notes and caveats

11.2 Currency conversion rates for US$

Exhibit 85:  Currency conversion rates for US$

11.3 Research Methodology

Exhibit 86:  Research Methodology

Exhibit 87:  Validation techniques employed for market sizing

Exhibit 88:  Information sources

11.4 List of abbreviations

Exhibit 89:  List of abbreviations

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