Elderly & Disabled Assistive Devices Market Forecast 2027

Assistive devices and technologies minimize individual’s dependence on others and helps improve quality of life. Devices such as wheelchairs, visual aids, hearings aids, and specialized computer software and hardware system aids in enhancing hearing, vision, mobility, or communication of the elderly and disabled people. According to an article published in the Assistive Technology Blog (ATB) in September 2016, there are approximately 7.7 million new cases of dementia reported each year. The number of people suffering from dementia is expected to increase to 135.5 million by 2050. Devices such as clocks and reminders, fall detectors, activity monitors, intercom, and computer aids assist patients suffering from dementia.

The global elderly and disabled assistive devices market was valued at US$ 16,141.4 million in 2018 and is expected to expand at a CAGR of 7.7% during the forecast period (2019 – 2027).

Market Dynamics

Increasing adoption of technologically advanced devices is expected to create an opportunity for key players to introduce highly advance devices in market. In 2017, Phonak, a brand of the Sonova Group introduced Audeo B-Direct, an advance hearing aid that directly connects to any Bluetooth enabled cell phone. This device enables real hands-free voice calling to user. The user can answer or reject a call with the help of push button on hearing aid, one can use this hearing aid as an earphone while watching Television, as it connects with TV with the help of its AirStream technology.

However, the elderly and disabled assistive devices market, is witnessing intense competition especially from regional players as they offer products at a much cheaper rate. In order to overcome this challenge, market players are projected to focus on strengthening their distribution network and promote sales through strategic collaboration with distributors, hospitals, retailers and direct-to-consumers.

Increasing aging population supporting growth of the elderly and disabled assistive devices market

Geriatric population people aged 65 years and above, is expected to increase from 8.5% of the global population in 2015 to 12% in 2030, as per the report ‘An Aging World: 2015’ by the U.S. Census Bureau. Asia and Latin America are the primary regions which are expected to experience rapidly aging population. The elderly and disabled assistive devices market is analyzed to have large market potential especially in Asia and Latin America.

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Initiatives of government and independent agencies favorably shaping the elderly and disabled assistive devices market scenario

Only 5%–15% of the population in low and middle-income countries, who are in need of elderly and disabled assistive devices, have access to them, as per stats released by the World Health Organization (WHO). The improving accessibility of disabled assistive devices to better cater to the patient population. Few of this initiatives include:

• Organizing regional and country workshops, meetings, and seminars

• Creating a database on availability of appropriate assistive devices and technologies

• Developing normative guidelines

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Fall detection systems are tools to prevent accidental falls in elderly population. Geriatric population often faces risks of falling, and is a prevalent problem faced by them.