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Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Disabled and Elderly Assistive Technology market. Market segmentation includes Segment (Communication Aids, Mobility Assistance, Assistive Furniture, Bathroom Safety & Assistance, Other Products); End-Use (Home Care, Assisted Living Facilities, Hospitals & Nursing Homes).

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05 November 6:30 p.m., California- According to the new market research report, the global market for Disabled and Elderly Assistive Technology is projected to grow at a CAGR of 5.6% reach US$34 billion by 2027, supported by growing elderly population, rising healthcare costs, and technology advancements. The global Disabled and Elderly Assistive Technology market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Communication Aids, one of the segments analyzed and sized in this study, is forecast to grow at over 5.6% and reach a market size of US$12.8 billion by the end of the analysis period. The United States is forecast to readjust to a 5.3% CAGR. Within Europe, the worst affected by the pandemic, Germany will reach a market size of US$2.2 billion growing at a CAGR% of 4.8% over the next couple of years. In addition, over US$732 million worth of projected demand in the region will come from Rest of European markets. In Japan, the Communication Aids segment will reach a market size of US$658.6 million by the close of the analysis period. Facing a global backlash over the coronavirus outbreak and spread, China the world's second largest economy faces economic and geopolitical challenges including economic distancing which can likely put China's monopoly of global supply chains in crisis. The Communication Aids segment in this country against this backdrop will grow at a CAGR of 8.3% over the next couple of years to create an addressable market opportunity worth US$776 million by the year 2027.

Disabled and elderly assistive technologies pertain to the use of devices and software solutions to enable disabled and geriatric populations to decrease dependence on care givers and improve their quality of life. Assistive technologies include devices and technological solutions. Devices include traditional disability devices such as hearing aids, wheelchairs, and visual aids, as well as advanced solutions that aid in enabling disabled persons to lead more positive lives through increased control, security, and social participation. Technological advances have resulted in interdisciplinary research involving cognitive science, IT, communications, biotechnology and nanotechnology to develop advanced solutions that are intelligent and smart to improve quality of life for disabled and elderly patients. The disabled and elderly assistive technologies is being driven by rising elderly population, rising healthcare costs, and advances in technology. The growth in elderly population is straining healthcare systems across the world. Home-based care is being actively practiced as an alternative to prolonged hospital stays. Technological advances have enabled assistive devices to be connected to healthcare networks, and is aiding the shift to home-based care. Moreover, home-based care enables the patients to be independent and manage their daily routines. The multiple devices and solutions are enabling healthcare providers to remotely monitor senior and disabled persons and act when necessary. Moreover, assistive devices are becoming smart and can automatically trigger alarms to emergency services and/or caregivers in case of adverse events. Communication aids account for the largest share of the assistive devices market owing to the widespread prevalence of hearing and vision disabilities. Hearing and vision are among the first liabilities during aging, and as such account for a high share of disabilities in elderly population. Cognitive disabilities such as dementia are also increasing in prevalence but the detection rate and the usage of aids for managing dementia are relatively low, especially in developing countries. The major challenges for the adoption of disabled and elderly assistive technologies lies in the cost of advanced devices and technologies. Moreover, the devices also face the challenge of getting approval from insurance companies and government healthcare programs. Price pressures from healthcare management firms as well as patient groups also pose a challenge for the adoption of the devices.

Research Methodology
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 1764. Among this pool, 318 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 71 unique participations, a total of 32 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.

Key Competitors Covered in the Report -
Medline Industries, Inc.
GF Health Products, Inc.
Invacare Corporation
Pride Mobility Products Corporation
Hoveround Corporation
Permobil AB
Sonova Holding AG
Enabling Technologies, Corp.
Karma Mobility
Magic Mobility Pty., Ltd.
MED-EL Elektromedizinische Gerate Gesellschaft m.b.H.
William Demant Holding A/S

Segments Covered in the Report -
Product (Communication Aids, Mobility Assistance, Assistive Furniture, Bathroom Safety & Assistance, Other Products)
End-Use (Home Care, Assisted Living Facilities, Hospitals & Nursing Homes)

Geographies Analyzed in the Report -
World
USA
Canada
Japan
China
Europe
France
Germany
Italy
UK
Rest of Europe
Asia-Pacific
Rest of World.

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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.

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