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The Assistive Technology (AT) Market size is estimated to grow by USD 6.60 billion, at a CAGR of 4.91% between 2023 and 2028. The global demand for rehabilitation centers utilizing assistive technology is on the rise, driven by the growing need for advanced medical services post-treatment, notably following accidents and surgeries. This surge in demand is also fostering the proliferation of mobility aid devices employing assistive technology. Moreover, the emergence of robotic rehabilitation centers is further fueling the demand for assistive technology solutions. Consequently, these factors are exerting a positive influence on the market, prompting the expansion of facilities equipped with cutting-edge assistive technologies to cater to the increasing rehabilitation needs worldwide.
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The market segmentation by the device such as sensory aids, mobility aids, and others, The End-user segmentation by hospitals, homecare settings, and others. The geography is segmented by North America, Europe, Asia, and the Rest of the World (ROW).
By End User
The hospitals segment is estimated to witness significant growth during the forecast period. The hospital segment has been growing consistently over the past few years due to the presence of several hospitals providing assistive technology equipment for patients. In addition, there are several assistive technology devices, such as wheelchairs, mobility devices, and hearing devices. Furthermore, hospitals are the major end-users of assistive technology as they have advanced healthcare facilities where a large number of patients seek treatment on a daily basis.
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The hospitals segment was the largest segment and was valued at USD 9.07 billion in 2018. Therefore, hospitals are focusing on becoming better equipped in terms of advanced facilities and integrated operating rooms. In addition, a large multispecialty hospital has advanced laboratories and more than 500 beds and offers the most technologically advanced services and treatment options. Hence, the increasing number of well-equipped hospitals has resulted in a rise in demand for patient positioning devices and equipment, including assistive technology. Therefore, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
The growth in demand for hearing devices, including implant systems/hearing aids, Teletype (TTY) and telecommunication devices for the deaf (TDD), and personal amplifiers, can be attributed to the global increase in the number of people with hearing impairment and related disorders, resulting due to factors including noise pollution, genetics, and aging. In addition, a rise in the adoption of binaural hearing aids is witnessed among people with bilateral hearing loss. Moreover, companies such as Invacare Corp. (Invacare), Sonova Holding AG (Sonova), and Demant AS (Demant), which offer hearing aids, are increasingly focusing on manufacturing products in compliance with industrial standards while incorporating advanced technologies. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
The growth of the mobility aids segment is driven by various factors. One of the main reasons is the increasing prevalence of CVDs, especially due to the presence of a large geriatric population base and the need for regular heart monitoring in such people. Moreover, the increase in the approvals and clearances for the commercialization of various mobility aids such as wheelchairs, rollators, walking frames, canes, and crutches is another factor spurring the growth of the segment. Furthermore, the increasing number of private clinics, diagnostic centers, and surgical centers, as a result of the rising investments in healthcare and better facilities in clinics and diagnostic centers, is fuelling the growth of this segment which in turn drives the market growth during the forecast period.
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Europe is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. The market in North America is significantly driven by the advancement of healthcare facilities, increasing healthcare spending, and government programs like Medicaid. In 2020, the US healthcare expenditure reached USD 4 trillion, equating to approximately USD 10,000 per person. This substantial funding leads to the availability of sophisticated assistive products, including Reading Aids and Sensory Aids, in both Hospitals and Home Care Settings. In the Hospital segment, patient safety is paramount. The Food and Drug Administration (FDA) has implemented stringent regulations to minimize accidents, such as patients getting caught, trapped, or entangled in medical beds. Assistive products, like mobility devices such as wheelchairs, mobility scooters, hospital beds, recliner chairs, and transferred lifts, are essential for admitted patients.
Outside of hospitals, Assistive Technology plays a crucial role in addressing non-fatal injuries from road traffic accidents and other incidents. Functional capabilities are enhanced through the use of assistive products for individuals with Orthopaedic disorders, Neurological disorders, Learning disabilities, Epilepsy, and Muscle action requirements. Developing economies are increasingly accepting the use of Assistive products, with investors like Nordic Capital recognizing their potential. Healthcare expenditure and disposable income are key factors driving the market growth. Regulatory bodies, such as the Neurological Alliance, play a vital role in advocating for patient security and the development of advanced assistive products. Hence, such factors are driving the market growth in North America during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Demant AS: The company offers assistive technology solutions that help people with hearing loss connect and communicate with the world around them.
Boundless Assistive Technology, Freedom Scientific Inc., GF Health Products Inc., GN Store Nord AS, Invacare Corp., Karma Medical Products Co. Ltd., MED EL Elektromedizinische Gerate GmbH, Medical Depot Inc., Medline Industries LP, NOVA Medical Products, Ostrich Mobility Instruments Pvt. Ltd., Ottobock SE and Co. KGaA, Permobil AB, Persona Medical, Pride Mobility Products Corporation, Sonova Holding AG, Starkey Laboratories Inc., Sunrise Medical LLC, and Ossenberg GmbH
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market encompasses a wide range of products designed to enhance the functional abilities of people with impairments, including those with Orthopaedic and Neurological disorders such as Epilepsy, Muscle action issues, and Learning disabilities. This market includes various product types, like AI and ML-enabled gadgets, IoT devices, and wearable technology, tailored for different age groups. GlobalFoundries plays a significant role in the development of these innovations, contributing to the creation of assistive equipment for home care and clinics. User-centered design is crucial in creating functional capabilities for disabled people, ensuring that these assistive products meet their unique needs. Developing economies also benefit from these advancements, as they provide solutions to improve the quality of life for individuals with disabilities, enabling them to better manage their weight-bearing load and daily tasks. The Neurological Alliance and other organizations continue to advocate for the advancement of assistive technology, driving the market forward. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
The rising number of orthopedic and neurological disorders is notably driving the market. The market encompasses a range of products designed to enhance functional abilities of individuals with disabilities. This market caters to various disability types, including orthopedic and neurological conditions that affect mobility, and age-related impairments. The global population, particularly the aged, is experiencing a rise in disabilities due to medical emergencies, long-term and short-term health circumstances, and surgical operations. Products in this market include mobility aids like wheelchairs, canes, and crutches, as well as hearing aids, vision enhancement devices, and wearable technology. Companies like GlobalFoundries, Apple, and Body Vision Medical are investing in advanced technologies such as AI, ML, IoT, and user-centered design to create innovative assistive equipment.
Despite the market prospects, high costs and lack of awareness remain significant challenges. Innovations in assistive technology, such as Apple Vision Pro, Envision Glasses, and Smart Vision Device, aim to address these challenges and improve accessibility for people with impairments in clinics, home care, and everyday life. On World Braille Day, organizations like Vision-Aid emphasize the importance of proactiveness and early adoption of assistive equipment to improve the quality of life for disabled people. Emerging economies are also witnessing increased adoption rates, driven by rising costs and modern techniques. Hence, such factors will drive market growth during the forecast period.
Rising demand for assistive technology in customization is an emerging trend in the market. The market caters to individuals with disabilities by providing customized solutions for various disability types and age groups. Global advancements in technology, including AI, ML, IoT, and wearable technology, have enabled user-centered design for product types such as mobility aids, hearing aids, and vision enhancement devices. However, high costs and lack of awareness remain challenges. Innovations in assistive equipment from companies like GlobalFoundries, Apple, Body Vision Medical, Mediflex, and Smart Vision Device are proactively addressing functional abilities for people with impairments, including those related to mobility, hearing, and vision.
On World Braille Day, organizations like Vision-Aid continue to promote awareness and adoption of these technologies. Despite rising costs and poor adoption rates, the market prospects for assistive technology remain strong, particularly in emerging economies. Furthermore, whether it is mobility impairments, visual or hearing impairments, or cognitive challenges, personalized solutions can address a wide range of needs. Hence, such factors will drive market growth during the forecast period.
The high cost of mobility products is a major challenge hindering the market. The market caters to individuals with disabilities, offering various product types tailored to different disability types and age groups. Manual and electric mobility aids, such as wheelchairs, are essential for enhancing functional abilities for people with impairments. In developing countries, the adoption of low-cost mobility aids, like manual wheelchairs, is more prevalent due to affordability and local product penetration. GlobalFoundries, AI, ML, IoT, and wearable technology are driving innovations in this sector. Hearing aids and vision enhancement devices are also popular assistive equipment.
Further, high costs and lack of awareness hinder widespread adoption, particularly in emerging economies. Companies like Apple, with products such as the Apple Vision Pro, Envision Glasses, Body Vision Medical, Mediflex, and Smart Vision Device, are proactively addressing these challenges. On World Braille Day, organizations like Vision-Aid continue to advocate for improved accessibility and modern techniques to enhance the lives of disabled people. Hence, such factors hinder market growth during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
Assistive technology plays a crucial role in enhancing the lives of individuals with disabilities. The Disability market, particularly the Assistive Technology sector, is growing rapidly. Producers of Assistive Technology, such as Apple, Google, and Microsoft, are developing innovative solutions like Voice Input, Mobility Aids, Hearing Aids, and Brain-Computer Interfaces. Group Foundation for Disability Studies, AID, IoT, and Wearable Technology are key areas of focus. Usage-centered design, device connectivity, and cloud-based services are essential elements of modern Assistive Technology. Devices like Body-worn sensors, Assistive Apps, and Prosthetic limbs are transforming the lives of many. The future of Assistive Technology lies in advanced technologies like Artificial Intelligence, Machine Learning, and Enhancement of Sensory Capabilities. The market is driven by the increasing awareness of disability issues and the availability of government funding. The market is expected to grow significantly in the coming years.
Market Scope |
|
Report Coverage |
Details |
Page number |
162 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.91% |
Market Growth 2024-2028 |
USD 6.60 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.25 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
Europe at 36% |
Key countries |
US, Germany, UK, France, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Boundless Assistive Technology, Demant AS, Freedom Scientific Inc., GF Health Products Inc., GN Store Nord AS, Invacare Corp., Karma Medical Products Co. Ltd., MED EL Elektromedizinische Gerate GmbH, Medical Depot Inc., Medline Industries LP, NOVA Medical Products, Ostrich Mobility Instruments Pvt. Ltd., Ottobock SE and Co. KGaA, Permobil AB, Persona Medical, Pride Mobility Products Corporation, Sonova Holding AG, Starkey Laboratories Inc., Sunrise Medical LLC, and Ossenberg GmbH |
Market dynamics |
Parent market growth analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Device
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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