LONDON--(BUSINESS WIRE)--The global bathroom and toilet assist devices market is expected to grow by USD 1.35 billion by 2023, according to the latest market research report by Technavio. The limited availability of sophisticated healthcare facilities in rural market poses a major challenge in the market as the consumption of bathroom and toilet assist devices is limited to a large extent in rural areas, thus, restricting market growth.
Technavio researchers, however, project favorable insurance coverage policies as a key factor that will drive market growth. Medical insurance policies such as Medicaid services can cover the cost of certain assist devices, such as walk-in bathtubs, bath lifts, grab bars, and raised toilet seats. Private insurance providers are offering insurance for items such as shower benches, toilet seat lifts, commodes, and raised toilet seats, especially for elderly people. The availability of reimbursements and rise in medical costs is increasing the dependency of patients on medical insurance policies. This is encouraging patients to either rent or buy the bathroom and toilet assist devices, which will drive market growth during the forecast period.
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This market research report on the global bathroom and toilet assist devices market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the increased presence of online stores as one of the key emerging trends in the global bathroom and toilet assist devices market:
Global bathroom and toilet assist devices market: Increased Presence of Online Stores
Retailers are focusing on enhancing the online shopping experience as bathroom and toilet assist devices such as bath lifts and aids, shower chairs and stools, handgrips, commodes, toilet seat raisers, and grab bars are difficult to procure. In addition, they are focusing on effective online education and targeted marketing to boost the sales of bathroom and toilet assist devices through online stores. The availability of a broad range of products, rapid delivery services, and competitive prices enable higher online sales of products in comparison to brick and mortar stores. Such factors are expected to showcase a positive outlook during the forecast period.
“The rise in aging population and affordability of bathroom and toilet assist devices will drive bathroom and toilet assist devices market growth. Additionally, factors such as the introduction of various government initiatives to make healthcare more affordable and accessible will also drive the growth of the market during the forecast period,” says a senior analyst at Technavio.
Global bathroom and toilet assist devices market: Segmentation analysis
This market research report segments the global bathroom and toilet assist devices market by product (commodes, shower chairs and stools, bath systems, and others) and geography (Asia, Europe, North America, and ROW).
The commodes segment held the largest market share in 2019, accounting for nearly 35% of the market. However, the bath systems segment is expected to witness the highest incremental growth over the forecast period.
The North American region led the market in 2018 with a market share of nearly 37%. The market share occupied by this region is anticipated to decrease during 2019-2023, while APAC is expected to witness the highest incremental growth.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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