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Disabled and Elderly Assistive Technology Market Share, Size 2022 … – Digital Journal

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The Disabled and Elderly Assistive Technology Market was at US$ 46.11Bn in 2021 and is growing to approx US$ 66.84Bn by 2030, with a CAGR of 6.7% from 2022 – 2030.
The Global Disabled and Elderly Assistive Technology Market Size was valued at USD 46.11 billion in 2021 and is expected to reach USD 51.21 billion in 2022, and is estimated to reach USD 66.84 billion by the end of 2030 at a CAGR of approximately 6.7% during the forecast period 2022-2030.
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Disabled and Elderly Assistive Technology Market: Overview
The disabled and elderly assistive technology market mainly aims to provide a better-quality life to the people in this category by making their life comfortable and easy. Several difficulties arise in the day-to-day activities of older adults with a partial or total disability that cannot be handled alone. Relying on some other person for every work becomes a matter of dependence which hampers the quality of life lived by the person. To deal with this difficulty of the people, key market players have introduced assistive technologies in the market that will assist the disabled and the elderly to conduct their day-to-day activities independently.
Disabled and Elderly Assistive Technology Market: Growth Drivers
The huge number of people belonging to the geriatric population has helped the market to record considerable revenue over time. The increasing number of high-velocity accidents worldwide due to rapid modernization has resulted in many people suffering from multiple disabilities, which is a great opportunity for the market. Advanced facilities the government provides in the form of reimbursement have helped the market record tremendous growth. The extensive research and development programs carried out by the key market players have helped the market to experience new technologies and devices.
Disabled and Elderly Assistive Technology Market: Key Insights
A) As per the analysis shared by our research analyst, the Disabled and Elderly Assistive Technology market is estimated to grow annually at a CAGR of around 6.7% over the forecast period (2022-2030).
B) In terms of revenue, the Disabled and Elderly Assistive Technology market size was valued at around USD 46.11 Billion in 2021 and is projected to reach USD 66.84 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) The use of advanced technologies and equipment proves difficult for the elderly population as they cannot evaluate and understand their functioning very easily. Difficulties such as technical glitches and functional errors hamper the usage to a great extent.
D) The increasing competition among the key market players regarding introducing advanced technologies and devices to provide maximum independence to the disabled and elderly population has emerged as a major opportunity for the market’s growth.
E) The high cost associated with using modern technologies and devices hampers the market’s growth to a great extent. The disposable income available to people belonging to the disabled and elderly age group is not sufficient for purchasing modern technologies and devices.
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Disabled and Elderly Assistive Technology Market: Regional Landscape
The geographical region of North America has emerged as the largest market for disabled and elderly assistive technology, and due to the huge population belonging to this category will stop due to the adoption of modern lifestyle, the use of vehicles has increased to a great extent which leads to several high-velocity accidents in this region. as a result of this people suffers with multiple disabilities. Hence, the demand for assistive technologies is rising in the market. Increasing life expectancy has given rise to a huge geriatric population that demands assistive technology with you to provide them with complete independence.
The European countries also contribute considerably to the growth of the disabled and elderly assistive technology market due to the huge number of people suffering from chronic diseases and disabilities. The Asia Pacific region has become the next largest sector providing advanced facilities to the elderly and disabled individuals due to the rapid advancements in the healthcare sector.
Disabled and Elderly Assistive Technology Market: Key Players
Sunrise Medical LLC
Starkey Hearing Technologies
GN ReSound Group
Sonova Holding AG
William Demant Holding A/S
The Disabled and Elderly Assistive Technology Market is segmented as follows:
By Service Type
mobility aids devices
Living aids devices
Medical furniture
Bathroom safety devices
By End User
Nursing homes
Home care
Hospitals
Assisted living facility
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About Custom Market Insights:
Custom Market Insights is a market research and advisory company delivering business insights and market research reports to large, small, and medium-scale enterprises. We assist clients with strategies and business policies and regularly work towards achieving sustainable growth in their respective domains.
Custom Market Insights provides a one-stop solution for data collection to investment advice. The expert analysis of our company digs out essential factors that help to understand the significance and impact of market dynamics. The professional experts apply clients inside on the aspects such as strategies for future estimation fall, forecasting or opportunity to grow, and consumer survey.
Joel John
Custom Market Insights
+1 801-639-9061
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