About Assistive Technology
Assistive Technology is used in any product or device that is intended to improve the quality of life and independence of people with disabilities. According to estimates from the United States Centers for Disease Control and Prevention, in the United States, one in four adults is living with a disability. Moreover, the baby boomer generation is more likely to have a disability than previous generations as they age, which means that this ratio is likely to grow in the future. Globally, more than 1 billion people of the world’s population, experience some type of disability. As per the World Health Organization (WHO) by 2030, two billion people will require access to at least one assistive technology, and many will require two or more. This will drive the market growth in the forecast period.
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
The global assistive technology market is largely competitive and consists of several vendors who compete based on factors such as service quality, technology, and pricing. To gain a competitive edge in the market, the providers need to develop innovative technologies and stay updated with the emerging technologies that could influence their services. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
GF Health Products (United States), MED-EL (Austria), Sunrise Medical, Inc. (Germany), William Demant Holding A/S (Denmark), Beltone (Canada), Enabling Technologies (United States), GN ReSound (Denmark), Hoveround (United States), GN Store Nord AS (Denmark), Invacare Corporation (United States) and Karma Mobility (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Magic Mobility (Australia), Medline Industries, Inc. (United States), Ossenberg GmbH (Germany), OstrichMobility (India) and Sonova Holding AG (Switzerland).
Segmentation Overview
AMA Research has segmented the market of Global Assistive Technology market by Type (Products and Services), Application (Kids and Adults) and Region.
On the basis of geography, the market of Assistive Technology has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Device Type, the sub-segment i.e. Living Aids Devices {Hearing Aids will boost the Assistive Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Adoption Of Hearing Aids With Rechargeable Batteries
Market Growth Drivers:
Increasing Adoption Of Technologically Advanced Devices and Augment Sales Of Mobility Aids Due To Rising Number Of People With Cancer
Challenges:
Intense Competition Especially From Regional Players
Restraints:
High Cost Of Few Sophisticated Products
Opportunities:
Increasing Number Of Orthopedic And Neurological Disorders and Rise In Surgical Operations Are Further Increasing The Demand For Medical Mobility Devices
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Assistive Technology Providers, Dealers, Suppliers, Traders, and Distributors of Assistive Devices, Venture Capitalists, Private Equity Firms, Government Regulatory and Research Organizations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.