Assistive Technology Market to grow by USD 6,300.03 million from 2022 to 2027|Increasing number of orthopedic and neurological disorders to boost the growth in healthcare industry- Technavio

2023-07-11

NEW YORK, July 11, 2023 /PRNewswire/ -- The

assistive technology market is estimated to grow at a

CAGR of 4.95% between 2022 and 2027. The size of the market is forecast to increase by

USD 6,300.03 million, according to Technavio.

Growing demand for rehabilitation centers is a key factor driving the market growth. The demand for advanced medical services after treatment is rapidly rising in the case of accidents and surgeries, which is increasing the number of rehabilitation centers. In addition, the presence of robotic rehabilitation centers is increasing the demand for assistive technology. For example, Birmingham Community Healthcare in Europe provides high-quality community and specialist services for patients. Hence, these factors are expected to drive market growth during the forecast period.

Discover some insights on the market size historic period (2017 to 2021) and Forecast 2023-2027 before buying the full report -Request a sample report

Assistive Technology Market to grow by USD 6,300.03 million from 2022 to 2027|Increasing number of orthopedic and neurological disorders to boost the growth in healthcare industry- Technavio

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Technavio has announced its latest market research report titled Global Assistive Technology Market

Assistive technology market – Vendor Analysis

Vendor Landscape - The assistive technology market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer assistive technology in the market are Boundless Assistive Technology LLC, Demant AS, Drive Medical GmbH and Co. KG, GF Health Products Inc., GN Store Nord AS, Hoveround Corp., Invacare Corp., Karma Medical Products Co. Ltd., MED EL Elektromedizinische Gerate GmbH, Medline Industries LP, NOVA Medical Products, Ossenberg GmbH, Ostrich Mobility Instruments Pvt. Ltd., Ottobock SE and Co. KGaA, Permobil AB, Persona Medical, Pride Mobility Products Corp., Roma Medical, Sonova AG, and Sunrise Medical LLC and others.

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Global competitiveness and key competitor positions

Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial -

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Vendor Offerings -

Demant AS - The company offers assistive technology solutions that help people with hearing loss connect and communicate with the world around them.

GN Store Nord AS - The company offers assistive technology solutions by developing AI-enhanced intelligent audio systems which help people to communicate and listen to people around them.

Hoveround Corp - The company offers assistive technology solutions with products such as wheelchairs, power chairs, mobility scooters, stairs lifts, and wheelchair ramps which are dedicated to helping in moving from one place to another.

For details on the vendor and its offerings –

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Assistive Technology Market - Segmentation Assessment

Segment Overview

Technavio has segmented the market based on device (sensory aids, mobility aids, and others), and end-user (hospitals, homecare settings, and others)

The market share growth in the

sensory aids segment will be significant during the forecast period. This growth is due to the increase in the number of people with hearing impairment and related disorders, resulting from aging, noise pollution, and genetics. Many vendors in the market are focusing on manufacturing products in compliance with industrial standards while adding advanced technologies. Furthermore, behind-the-ear (BTE) hearing aids are getting popular as compared to the other types. Hence, these factors are expected to drive segment growth during the forecast period.

Geography Overview

The global assistive technology market is segmented by geography into North America, Europe, Asia, and the Rest of the World (ROW). The report provides actionable insights and estimates the contribution of all regions to the growth of the global assistive technology market.

North America is estimated to contribute

35% to the growth of the global market during the forecast period. This growth in the region is due to several factors, such as the growth of advanced healthcare facilities, rising healthcare spending, and the presence of government organizations such as Medicaid. In addition, significant funding in the region is leading to improved healthcare facilities which ensure the availability of advanced products such as wheelchairs, mobility devices, and hearing devices to patients. Hence, these factors are expected to drive market growth in the region during the forecast period.

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Assistive Technology Market –

Market Dynamics

Major Trends

The increase in the development of new products is a major trend in the market. Many vendors in the market are investing heavily in R&D to increase their product portfolios by launching new products. This is done to attract more consumers to their brands. Furthermore, such product developments in the market will lead to an increase in the demand for assistive technology. For example, GN Group announced the introduction of the Jabra enhanced Pro, which is a new premium hearing aid line-up. Hence, these developments are expected to drive market growth during the forecast period.

Significant Challenges

The high cost of mobility products is a major challenge restricting market growth. The most used mobility aids in hospital-based and home-based patient care services are wheelchairs. The rising price influences the purchase decision of many consumers. For example, in many developing countries, people are preferring to purchase walkers in comparison to wheelchairs. Furthermore, in many countries, governments are not providing reimbursements for these products, which is restricting the adoption of advanced technologies. Hence, these factors are expected to hamper market growth during the forecast period.

Drivers, Trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this Assistive Technology Market report?

CAGR of the market during the forecast period

Detailed information on factors that will drive the growth of the assistive technology market between 2023 and 2027

Precise estimation of the size of the assistive technology market and its contribution to the market with a focus on the parent market

Accurate predictions about upcoming trends and changes in consumer behavior

Growth of the assistive technology market across North America, Europe, Asia, and the Rest of the World (ROW)

A thorough analysis of the market's competitive landscape and detailed information about vendors

Comprehensive analysis of factors that will challenge the growth of assistive technology market vendors.

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Table of Contents

1 Executive Summary

1.1 Market Overview

Exhibit 01: Executive Summary – Chart on Market Overview

Exhibit 02: Executive Summary – Data Table on Market Overview

Exhibit 03: Executive Summary – Chart on Global Market Characteristics

Exhibit 04: Executive Summary – Chart on Market by Geography

Exhibit 05: Executive Summary – Chart on Market Segmentation by Device

Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user

Exhibit 07: Executive Summary – Chart on Incremental Growth

Exhibit 08: Executive Summary – Data Table on Incremental Growth

Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 10: Parent market

Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 13: Market segments

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)

Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)

Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)

Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global assistive technology market 2017 - 2021

Exhibit 18: Historic Market Size – Data Table on Global assistive technology market 2017 - 2021 ($ million)

4.2 Device Segment Analysis 2017 - 2021

Exhibit 19: Historic Market Size – Device Segment 2017 - 2021 ($ million)

4.3 End-user Segment Analysis 2017 - 2021

Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ million)

4.4 Geography Segment Analysis 2017 - 2021

Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

4.5 Country Segment Analysis 2017 - 2021

Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

5.1 Five forces summary

Exhibit 23: Five forces analysis - Comparison between2022 and 2027

5.2 Bargaining power of buyers

Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

5.3 Bargaining power of suppliers

Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

5.4 Threat of new entrants

Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

5.5 Threat of substitutes

Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

5.6 Threat of rivalry

Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

5.7 Market condition

Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Device

6.1 Market segments

Exhibit 30: Chart on Device - Market share 2022-2027 (%)

Exhibit 31: Data Table on Device - Market share 2022-2027 (%)

6.2 Comparison by Device

Exhibit 32: Chart on Comparison by Device

Exhibit 33: Data Table on Comparison by Device

6.3 Sensory aids - Market size and forecast 2022-2027

Exhibit 34: Chart on Sensory aids - Market size and forecast 2022-2027 ($ million)

Exhibit 35: Data Table on Sensory aids - Market size and forecast 2022-2027 ($ million)

Exhibit 36: Chart on Sensory aids - Year-over-year growth 2022-2027 (%)

Exhibit 37: Data Table on Sensory aids - Year-over-year growth 2022-2027 (%)

6.4 Mobility aids - Market size and forecast 2022-2027

Exhibit 38: Chart on Mobility aids - Market size and forecast 2022-2027 ($ million)

Exhibit 39: Data Table on Mobility aids - Market size and forecast 2022-2027 ($ million)

Exhibit 40: Chart on Mobility aids - Year-over-year growth 2022-2027 (%)

Exhibit 41: Data Table on Mobility aids - Year-over-year growth 2022-2027 (%)

6.5 Others - Market size and forecast 2022-2027

Exhibit 42: Chart on Others - Market size and forecast 2022-2027 ($ million)

Exhibit 43: Data Table on Others - Market size and forecast 2022-2027 ($ million)

Exhibit 44: Chart on Others - Year-over-year growth 2022-2027 (%)

Exhibit 45: Data Table on Others - Year-over-year growth 2022-2027 (%)

6.6 Market opportunity by Device

Exhibit 46: Market opportunity by Device ($ million)

7 Market Segmentation by End-user

7.1 Market segments

Exhibit 47: Chart on End-user - Market share 2022-2027 (%)

Exhibit 48: Data Table on End-user - Market share 2022-2027 (%)

7.2 Comparison by End-user

Exhibit 49: Chart on Comparison by End-user

Exhibit 50: Data Table on Comparison by End-user

7.3 Hospitals - Market size and forecast 2022-2027

Exhibit 51: Chart on Hospitals - Market size and forecast 2022-2027 ($ million)

Exhibit 52: Data Table on Hospitals - Market size and forecast 2022-2027 ($ million)

Exhibit 53: Chart on Hospitals - Year-over-year growth 2022-2027 (%)

Exhibit 54: Data Table on Hospitals - Year-over-year growth 2022-2027 (%)

7.4 Homecare settings - Market size and forecast 2022-2027

Exhibit 55: Chart on Homecare settings - Market size and forecast 2022-2027 ($ million)

Exhibit 56: Data Table on Homecare settings - Market size and forecast 2022-2027 ($ million)

Exhibit 57: Chart on Homecare settings - Year-over-year growth 2022-2027 (%)

Exhibit 58: Data Table on Homecare settings - Year-over-year growth 2022-2027 (%)

7.5 Others - Market size and forecast 2022-2027

Exhibit 59: Chart on Others - Market size and forecast 2022-2027 ($ million)

Exhibit 60: Data Table on Others - Market size and forecast 2022-2027 ($ million)

Exhibit 61: Chart on Others - Year-over-year growth 2022-2027 (%)

Exhibit 62: Data Table on Others - Year-over-year growth 2022-2027 (%)

7.6 Market opportunity by End-user

Exhibit 63: Market opportunity by End-user ($ million)

8 Customer Landscape

8.1 Customer landscape overview

Exhibit 64: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation

Exhibit 65: Chart on Market share by geography 2022-2027 (%)

Exhibit 66: Data Table on Market share by geography 2022-2027 (%)

9.2 Geographic comparison

Exhibit 67: Chart on Geographic comparison

Exhibit 68: Data Table on Geographic comparison

9.3 North America - Market size and forecast 2022-2027

Exhibit 69: Chart on North America - Market size and forecast 2022-2027 ($ million)

Exhibit 70: Data Table on North America - Market size and forecast 2022-2027 ($ million)

Exhibit 71: Chart on North America - Year-over-year growth 2022-2027 (%)

Exhibit 72: Data Table on North America - Year-over-year growth 2022-2027 (%)

9.4 Europe - Market size and forecast 2022-2027

Exhibit 73: Chart on Europe - Market size and forecast 2022-2027 ($ million)

Exhibit 74: Data Table on Europe - Market size and forecast 2022-2027 ($ million)

Exhibit 75: Chart on Europe - Year-over-year growth 2022-2027 (%)

Exhibit 76: Data Table on Europe - Year-over-year growth 2022-2027 (%)

9.5 Asia - Market size and forecast 2022-2027

Exhibit 77: Chart on Asia - Market size and forecast 2022-2027 ($ million)

Exhibit 78: Data Table on Asia - Market size and forecast 2022-2027 ($ million)

Exhibit 79: Chart on Asia - Year-over-year growth 2022-2027 (%)

Exhibit 80: Data Table on Asia - Year-over-year growth 2022-2027 (%)

9.6 Rest of World (ROW) - Market size and forecast 2022-2027

Exhibit 81: Chart on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)

Exhibit 82: Data Table on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)

Exhibit 83: Chart on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)

Exhibit 84: Data Table on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)

9.7 US - Market size and forecast 2022-2027

Exhibit 85: Chart on US - Market size and forecast 2022-2027 ($ million)

Exhibit 86: Data Table on US - Market size and forecast 2022-2027 ($ million)

Exhibit 87: Chart on US - Year-over-year growth 2022-2027 (%)

Exhibit 88: Data Table on US - Year-over-year growth 2022-2027 (%)

9.8 Germany - Market size and forecast 2022-2027

Exhibit 89: Chart on Germany - Market size and forecast 2022-2027 ($ million)

Exhibit 90: Data Table on Germany - Market size and forecast 2022-2027 ($ million)

Exhibit 91: Chart on Germany - Year-over-year growth 2022-2027 (%)

Exhibit 92: Data Table on Germany - Year-over-year growth 2022-2027 (%)

9.9 Japan - Market size and forecast 2022-2027

Exhibit 93: Chart on Japan - Market size and forecast 2022-2027 ($ million)

Exhibit 94: Data Table on Japan - Market size and forecast 2022-2027 ($ million)

Exhibit 95: Chart on Japan - Year-over-year growth 2022-2027 (%)

Exhibit 96: Data Table on Japan - Year-over-year growth 2022-2027 (%)

9.10 UK - Market size and forecast 2022-2027

Exhibit 97: Chart on UK - Market size and forecast 2022-2027 ($ million)

Exhibit 98: Data Table on UK - Market size and forecast 2022-2027 ($ million)

Exhibit 99: Chart on UK - Year-over-year growth 2022-2027 (%)

Exhibit 100: Data Table on UK - Year-over-year growth 2022-2027 (%)

9.11 France - Market size and forecast 2022-2027

Exhibit 101: Chart on France - Market size and forecast 2022-2027 ($ million)

Exhibit 102: Data Table on France - Market size and forecast 2022-2027 ($ million)

Exhibit 103: Chart on France - Year-over-year growth 2022-2027 (%)

Exhibit 104: Data Table on France - Year-over-year growth 2022-2027 (%)

9.12 Market opportunity by geography

Exhibit 105: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

Exhibit 106: Impact of drivers and challenges in 2022 and 2027

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

Exhibit 107: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption

Exhibit 108: Overview on factors of disruption

11.4 Industry risks

Exhibit 109: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered

Exhibit 110: Vendors covered

12.2 Market positioning of vendors

Exhibit 111: Matrix on vendor position and classification

12.3 Demant AS

Exhibit 112: Demant AS - Overview

Exhibit 113: Demant AS - Business segments

Exhibit 114: Demant AS - Key offerings

Exhibit 115: Demant AS - Segment focus

12.4 Drive Medical GmbH and Co. KG

Exhibit 116: Drive Medical GmbH and Co. KG - Overview

Exhibit 117: Drive Medical GmbH and Co. KG - Product / Service

Exhibit 118: Drive Medical GmbH and Co. KG - Key offerings

12.5 GF Health Products Inc.

Exhibit 119: GF Health Products Inc. - Overview

Exhibit 120: GF Health Products Inc. - Product / Service

Exhibit 121: GF Health Products Inc. - Key offerings

12.6 GN Store Nord AS

Exhibit 122: GN Store Nord AS - Overview

Exhibit 123: GN Store Nord AS - Business segments

Exhibit 124: GN Store Nord AS - Key offerings

Exhibit 125: GN Store Nord AS - Segment focus

12.7 Hoveround Corp.

Exhibit 126: Hoveround Corp. - Overview

Exhibit 127: Hoveround Corp. - Product / Service

Exhibit 128: Hoveround Corp. - Key offerings

12.8 Invacare Corp.

Exhibit 129: Invacare Corp. - Overview

Exhibit 130: Invacare Corp. - Business segments

Exhibit 131: Invacare Corp. - Key offerings

Exhibit 132: Invacare Corp. - Segment focus

12.9 Karma Medical Products Co. Ltd.

Exhibit 133: Karma Medical Products Co. Ltd. - Overview

Exhibit 134: Karma Medical Products Co. Ltd. - Product / Service

Exhibit 135: Karma Medical Products Co. Ltd. - Key offerings

12.10 MED EL Elektromedizinische Gerate GmbH

Exhibit 136: MED EL Elektromedizinische Gerate GmbH - Overview

Exhibit 137: MED EL Elektromedizinische Gerate GmbH - Product / Service

Exhibit 138: MED EL Elektromedizinische Gerate GmbH - Key offerings

12.11 Medline Industries LP

Exhibit 139: Medline Industries LP - Overview

Exhibit 140: Medline Industries LP - Product / Service

Exhibit 141: Medline Industries LP - Key offerings

12.12 NOVA Medical Products

Exhibit 142: NOVA Medical Products - Overview

Exhibit 143: NOVA Medical Products - Product / Service

Exhibit 144: NOVA Medical Products - Key offerings

12.13 Ossenberg GmbH

Exhibit 145: Ossenberg GmbH - Overview

Exhibit 146: Ossenberg GmbH - Product / Service

Exhibit 147: Ossenberg GmbH - Key offerings

12.14 Ostrich Mobility Instruments Pvt. Ltd.

Exhibit 148: Ostrich Mobility Instruments Pvt. Ltd. - Overview

Exhibit 149: Ostrich Mobility Instruments Pvt. Ltd. - Product / Service

Exhibit 150: Ostrich Mobility Instruments Pvt. Ltd. - Key offerings

12.15 Permobil AB

Exhibit 151: Permobil AB - Overview

Exhibit 152: Permobil AB - Product / Service

Exhibit 153: Permobil AB - Key offerings

12.16 Sonova AG

Exhibit 154: Sonova AG - Overview

Exhibit 155: Sonova AG - Business segments

Exhibit 156: Sonova AG - Key offerings

Exhibit 157: Sonova AG - Segment focus

12.17 Sunrise Medical LLC

Exhibit 158: Sunrise Medical LLC - Overview

Exhibit 159: Sunrise Medical LLC - Product / Service

Exhibit 160: Sunrise Medical LLC - Key offerings

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

Exhibit 161: Inclusions checklist

Exhibit 162: Exclusions checklist

13.3 Currency conversion rates for US$

Exhibit 163: Currency conversion rates for US$

13.4 Research methodology

Exhibit 164: Research methodology

Exhibit 165: Validation techniques employed for market sizing

Exhibit 166: Information sources

13.5 List of abbreviations

Exhibit 167: List of abbreviations

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