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

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 – 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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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 – Request a sample report

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.

For insights on global, regional, and country-level parameters with growth opportunities from 2017 to 2027 - Download a Sample Report

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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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base comprises enterprises of all sizes, including over 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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