Technology intervention and increasing funding of assistive technology is driving the global assistive devices for vulnerable groups market.
The global Assistive Devices for Vulnerable Groups market is anticipated to increase at a 6.1% CAGR to reach value USD 32860 Million in 2028
COVID-19 Impact and Market Status
The Global Assistive Devices for Vulnerable Groups Market faced several challenges in the initial months of the pandemic due lockdown restrictions imposed across the world. Moreover, this led to closure of manufacturing, retail sales and overall disruption of global supply chain. However, as the restrictions are removed by almost all the countries across the world, the global Assistive Devices for Vulnerable Groups Market is regaining momentum.
The market report for Assistive Devices in Vulnerable Groups includes an in-depth evaluation of the various segments, such as type of product, application, and end-user, as well as their contribution to the total market size. The paper presents a thorough and expert examination of the complicated analysis of prospects, growth factors, and upcoming forecasts in clear and straightforward formats. During the projected period, the study examines the Assistive Devices in Vulnerable Groups market's technology trends, financial situation, business strategy, the product offerings.
Investments to Continue to Rally In the Hearing Aids and Vision Assistive Devices Segment
The Global Assistive Devices for Vulnerable Groups Market is classified into medical mobility aids and ambulatory devices, medical furniture and bathroom safety products, hearing aids, vision, and reading aids on the basis of type. Among these, the hearing aids and vision assistive devices held the largest market share in Global Assistive Devices for Vulnerable Groups Market. The key factors such as technology innovation, increasing private schooling for disabled students, increased day training activities are driving the demand of assistive devices for vulnerable groups market.
The Global Assistive Devices for Vulnerable Groups Market is classified into pregnant women, elderly, disabled people on the basis of Application. Among these, the disabled segment accounted for highest market share in global Assistive Devices for Vulnerable Groups Market. The segment is anticipated to grow sporadically in the forecast years 2022-2029 with fastest CAGR through the forecast span.
North America Dominated the Global Assistive Devices for Vulnerable Groups Market
America, European Union, East Asia, Central America, as well as the Arab World are the five regions in which the market is divided. In respect of demand generation, the North America held led the market Assistive Devices And Vulnerable Groups market. The United States is one of the most key players of global assistive devices for vulnerable groups market owing to surging demand of assistive technology from a variety of end-users, including assistive instructional technology, clinics, and hospitals, to name a few. Furthermore, the United States has a market share in the global assistive devices for vulnerable groups market. United States accounted for between 25% and 30% of the market in 2021. One of the primary factors driving demand again for assistive technology market globally is the need for finished configuration in assistive innovations to enhance users' experiences and product quality. Assistive technology providers in South Asia - pacific Region are seeing new development potential as a result of these critical considerations.
In the Asia Pacific region, the market for Assistive Devices in Vulnerable Groups is also predicted to rise at a significant rate. The region is further split and evaluated on a country-by-country basis.
Owing to benefits such as long term care, improved effectiveness of educational intervention, ability to making previously difficult or impossible tasks feasible, increased comfort level of pre-service teachers, increased participation in community, the assistive devices for vulnerable groups is experiencing rapid adoption as opposed to manual approaches thus fostering remarkable progress in global assistive devices for vulnerable groups market.
Assistive devices helps the specially-abled ones increase, maintain, or improve physical capabilities. Assistive devices play an important role in education of students with disabilities that need special instrument.
People with disabilities frequently struggle to complete tasks on their own or with assistance. Disabilities that impede one's capacity to execute ADLs can be mitigated by assistive technology. Toilet training, movement (ambulation), eating, bathing, dressing, and grooming are all examples of ADLs. Assistive technology fosters degree of independence through enabling people to complete tasks by improving or modifying how people engage with the equipment required to complete those tasks.
The Global Assistive Devices Market is expected to grow with an average annual growth rate of 9.95 percent through the forecast span 2022-2029. The market value of global assistive devices for vulnerable groups market is anticipated to reach close to 20.5 billion dollars by 2029.
Movement, hear, sight, personality, cognition, and communication are some of the functional metrics that assistive technologies can help with. Rapid smartphone, tablet, and computer adoption, as well as the importance of assistive technology training and professional development, have all influenced the performance of the clinical as well as hospital sectors in recent years. These factors are creating substantial growth players an opportunity there in assistive technology market. Assistive technology can help people gain independence and improve their involvement. It enables youngsters to become more mobile, communicate better, see and listen more clearly, and actively participate in learning activities.
People with disabilities can live a happier and more relaxed lifestyle with assistive technology. Assistive devices increase social inclusion, security, and the ability to lower institutional costs without considerably raising domestic spending.
Despite, the growing adoption of assistive devices, the global assistive devices for vulnerable groups market is facing several challenges hampering the global assistive devices for vulnerable groups market. The key factors such as barriers to technology intervention, cost and obsolescence, lack of teacher training knowledge, extra support and maintenance, and inadequate curricula is hampering the global assistive devices for vulnerable groups market.
Furthermore, clinics, hospitals, residential care, and other end-users benefitting from technology innovation of assistive devices, products, or services across multiple industries is driving the global assistive devices for vulnerable groups market. People experiencing chronic health conditions, people with impairments, and the elderly are all in need of assistive technology to better their physical and mental health. There is a growing demand for assistive technology training and professional development to improve educators' skills and knowledge in a variety of areas, along with a continuum of techniques, collaborative procedures, techniques, services, and decision making, legal issues, resource management, and data analysis. These factors are anticipated to be a growth opportunity to the global assistive devices for vulnerable groups market.
Some of the companies in global assistive devices for vulnerable groups market Sonova Holding, William Demant, Invacare, Ottobock, Starkey, and GN ReSound among others.
Assistive Devices for Vulnerable Groups Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 20.5 billion|
|Growth Rate||CAGR of 9.95 % during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||market Sonova Holding, William Demant, Invacare, Ottobock, Starkey, and GN ReSound among others.|
Key Segments of the Global Assistive Devices for Vulnerable Groups Market
Type Overview, 2022-2029 (USD Billion)
- Medical Mobility Aids And Ambulatory Devices
- Medical Furniture And Bathroom Safety Products
- Hearing Aids
- Reading Aids
Application, 2022-2029 (USD Billion)
- Pregnant women
- Disabled people
Regional Overview, 2019-2029 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa