LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global assistive technology market since 2017 and the market is poised to grow by USD 8.39 billion during 2020-2024 at a CAGR of almost 8% during the forecast period. Request Free Sample Pages
Read the 146-page research report with TOC on "Assistive Technology Market Analysis Report by Geography (APAC, Europe, MEA, North America, and South America), by Device (Sensory aids, Mobility aids, and Others), and Segment Forecasts, 2020-2024".
The market is driven by the increasing number of orthopedic and neurological disorders. In addition, the growing adoption of hearing aids with rechargeable batteries is anticipated to further boost the growth of the assistive technology market.
Patients who undergo orthopedic surgeries and those who suffer from orthopedic conditions such as rheumatoid arthritis need to rely on others for support and mobility. Such short-term and long-term disabilities along with the rise in medical emergency cases are driving the need for assistive technologies. Consequently, the adoption of mobility devices such as crutches, canes, and manual and electric wheelchairs is increasing at a rapid pace. Vendors are offering customization and additional features in mobility devices to increase the convenience and utility of these devices. Thus, the increasing number of orthopedic and neurological disorders is expected to drive market growth during the forecast period.
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Major Five Assistive Technology Market Companies:
Demant AS is headquartered in Denmark. The company has partnered with Koninklijke Philips NV for the development of hearing aids. Demant AS’s offerings include Oticon Xceed and Viron 9.
GF Health Products Inc.
GF Health Products Inc. is headquartered in the US and offers products through the following business units: Extended care, Medical/surgical, and Healthcare/hospice. The company offers Lumex 3-in-1 Aluminum Commode and Traveler L3 Plus.
GN Store Nord AS
GN Store Nord AS is headquartered in Denmark and operates under two business segments, namely GN Hearing and GN Audio. The company offers GN Audio and Beltone Trust.
Invacare Corp. is headquartered in the US and offers products through the following business segments: North America/home medical equipment, Institutional products group, Europe, and Asia/Pacific. The company offers Get-U-Up Hydraulic Stand-Up Lift and Invacare 9000 Jymni Pediatric Wheelchairs.
MED-EL Elektromedizinische Geräte GmbH
MED-EL Elektromedizinische Geräte GmbH is headquartered in Austria and offers products through the following business segments: Cochlear implants, Electric acoustic stimulation, Middle ear implant, Bone conduction implant, and Rondo. The company offers SYNCHRONY Cochlear Implant System and SONNET EAS.
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Assistive Technology Device Outlook (Revenue, USD Million, 2020-2024)
- Sensory aids
- Mobility aids
Assistive Technology Regional Outlook (Revenue, USD Million, 2020-2024)
- North America
- South America
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