Global Elderly and Disabled Assistive Devices Market- 2020-2027

Global Elderly and Disabled Assistive Devices Market- 2020-2027

Global Elderly and Disabled Assistive Devices Market is segmented by Product Type (Wheel Chairs, Walking Aids, Mobility Scooters), By End User (Hospitals, Ambulatory Surgery Centers, Adult Day Care Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2020-2027

Market Overview
The Global Elderly and Disabled Assistive Devices Market is expected to grow at a CAGR of 5.5% during the forecasting period (2020-2027).
Assistive devices help disabled and impaired people to move from one place to another place. They provide independence & stability and serve the requirements of the people with disabilities to perform regular activities.
Adult people, people with injuries due to accidents, physically handicapped people and people with spinal cord injuries use assistive devices.
Assistive devices include wheelchairs, scooters, canes, crutches bicycles, and unicycles. Most of these devices are used by disabled people, who have restricted mobility. These devices are designed for single person and can be operated manually or powered by battery.
Market Dynamics
Increasing number of road accidents and work place accidents are boosting elderly and disabled assistive devices market growth over the forecast period. According to Centers for Disease Control and Prevention, Each day, almost 3,700 people are killed globally and many people are being injured in road traffic crashes involving cars, buses, motorcycles, bicycles, trucks, or pedestrians.
Increasing adult population is the major factor driving assistive device in recent years and expected to remain same over the forecast period. According to World Health Organization in 2018, between 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22%. These people require assistive devices for their daily activities.
Government initiatives undertaken for increasing accessibility of these mobility devices is driving elderly and disabled assistive devices market. For example, in United States, National Council on Disability runs awareness program. This group is committed to disability policy leadership. They consider various programs, assist individuals in their daily lives, help with employment issues, housing and transportation.
However huge cost of these devices is hampering the global elderly and disabled assistive devices market over the forecast period.
Segmentation Analysis
Based on the device type, global elderly and disabled assistive device market is segmented into walking aids, wheel chairs and scooters. Wheel chair segment dominated the market in 2018 and expected to remain dominant over the forecast period.
According to US Census Data in 2017, over 3 million Americans use a wheelchair full-time. Wheel chairs are further categorized into transport wheel chairs, heavy-duty and bariatric manual wheelchairs, light and ultra-light weight wheelchairs, sport wheelchairs, pediatric wheelchairs and tilt and recliner wheelchairs.
Walking aids held significant market share in 2018 and growing at the highest CAGR over the forecast period. Walking aids constitute canes, crutches, walkers, hand rails, stair lifts and others. According to World Bank in 2018, One billion people, or 15% of the world’s population, experience some form of disability while walking or climbing stairs. These people require walking aids for their daily activities.
Mobility scooters are registering high growth in recent years, these devices have a seat set on top of either 3, 4, or 5 wheels with handle bars or steering wheels to control direction. Mobility scooter users report a positive impact on their lives due to their choice of mobility aid.
Based on end user, global elderly and disabled assistive devices market is categorized into hospitals, ambulatory surgery centers and adult day care centers. Hospitals have the significant market share due to presence of patients and increasing number of patients.
Geographical Analysis
The global elderly and disabled assistive devices market is categorized into North America, Europe, Asia Pacific, South America and Middle East and Africa.
Europe is dominating the global elderly and disabled assistive devices market due to the presence of more number of geriatric population. According to a survey by Abode Impact in 2018, there were 1.2 million wheelchair users in the UK. According to World Economic Forum, by 2019, there will be fewer Germans under 30 years old than there are Germans that are above 60 years.
According to Eurostat Statistics in Europe, in 2019, 14% of the people aged between 15- 64 report a basic activity difficulty such as walking, lifting, sitting or standing and bending.
North America has the second largest market share in global Elderly and Disabled Assistive Devices Market. According to the U.S. Census Bureau in 2017, in United States there were nearly 40 million Americans with a disability in 2015, representing 12.6% of the civilian non-institutionalized population.
Asia Pacific, South America and Middle East and Africa regions are estimated to witness significant growth due to occurrence of road accidents, workplace accidents and increasing number of geriatric population.
Competitive Analysis
The market is highly fragmented in nature with participants such as TOPRO, Carex Health Brand Incorporation, Drive Medical Design & Manufacturing, Invacare, Sunrise Medical, Pride mobility, Kaye Products, Electric Mobility, Briggs Healthcare, Patterson Medical, Nova, Eurovema AB and Graham-Field Health Products Incorporation.
Companies are striving to grab market share through different strategies such as innovative products, advancements of the existing ones owing to which the competition among existing players is high.
On Janury 15, 2019, Hoobox launched first wheelchair controlled by facial expressions
On January 10, 2018, WHILL launched Ci assistive personal mobility device that integrates IoT for premium care
On August 12, 2018, QIQ announced partnership with TPR Invest to Launch 5,000 Electric Shared Personal Vehicles across Vietnam.
On October 31, 2017, Uber India launched wheelchair-accessible vehicles – Uber ACCESS and Uber ASSIST.
Why Purchase the Report?
• Visualize the composition of the global elderly and disabled assistive devices market across each indication, in terms of product type highlighting the key commercial assets and players.
• Identify commercial opportunities in global elderly and disabled assistive market by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of global elderly and disabled assistive market - level 4/5 segmentation.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players
Target Audience:
• Equipment Suppliers/ Buyers
• Service Providers/ Buyers
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Research Professionals
• Emerging Companies
• Manufacturers