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.
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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
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Exhibit 01: Parent market
2.2 Market Characteristics
Exhibit 02: Market characteristics
Exhibit 03: Value chain analysis: Healthcare Technology Market
2.3.1 Medical device OEMs and software developers
2.3.2 Connectivity and enablement
2.3.4 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
Exhibit 04: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 05: Market segments
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 (%)
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 13: Threat of rivalry
Exhibit 14: Market condition - Five forces 2020 5. Market Segmentation by Device
The segments covered in this chapter are:
Exhibit 15: Device - Market share 2020-2025 (%)
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) 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
Exhibit 24: Customer landscape
7.1 Geographic segmentation
The regions covered in the report are:
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
8.1.2 Growing demand for rehabilitation centers
8.1.3 Growing focus on compliance with industrial standards
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
8.3.1 Growing adoption of hearing aids with rechargeable batteries
8.3.2 Increase in development of new products
8.3.3 Growing demand for customization
Exhibit 38: Vendor landscape
Exhibit 39: Landscape disruption
Exhibit 40: Industry risks
Exhibit 41: Vendors covered
10.2 Market positioning of vendors
Exhibit 42: Market positioning of vendors
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 50: Drive DeVilbiss Healthcare - Key offerings Exhibit 54: GN Store Nord AS - Overview
Exhibit 55: GN Store Nord AS - Business segments
Exhibit 57: GN Store Nord AS - Key offerings
Exhibit 58: GN Store Nord AS - Segment focus Exhibit 64: MED-EL Elektromedizinische Gerate GmbH - Overview Exhibit 67: MED-EL Elektromedizinische Gerate GmbH - Key offerings
Exhibit 81: Sunrise Medical LLC - Overview
Exhibit 82: Sunrise Medical LLC - Product and service
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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