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Mobile Healthcare Is Fastest Growing Segment Fueling The Growth Of Assistive Technology Market

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Ashish Thapa
Mobile Healthcare Is Fastest Growing Segment Fueling The Growth Of Assistive Technology Market

Market Overview:

Assistive technology products help individuals with disabilities in performing tasks that may be difficult due to physical, sensory or cognitive impairments. These products cater to mobility impairments, impairments involving hearing, vision, and cognitive limitations by enhancing functional capabilities of individuals and help them to live independently.

Market key trends:

Mobile healthcare is emerging as the fastest growing segment in the assistive technology market with increasing adoption of m-health apps and remote patient monitoring devices. Smartphones, tablets and other such mobile devices are integrated with assistive technology tools to provide health monitoring, medication reminders, health education and mobile emergency response. Furthermore, increasing initiatives and support from governments worldwide for development of assistive technology is also fueling the market growth. High demand for cochlear implants among hearing impaired individuals and development of technologically advanced neurobionics are some other key trends observed in the global assistive technology market.

The global Assistive Technology Market Demand is estimated to be valued at US$ 22.98 Bn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Segment Analysis

The global assistive technology market is segmented into products, applications and end-users. Based on products, mobility devices segment is expected to dominate the market during the forecast period. This is attributed to the increasing cases of mobility impairment mainly caused by ageing, accidents and congenital disabilities. Mobility devices such as wheelchairs, mobility scooters, and walkers help impaired individuals to move conveniently indoors as well as outdoors.

Key Takeaways

The global assistive technology market is expected to witness high growth, exhibiting CAGR of 4.7% over the forecast period, due to increasing prevalence of disabilities and greater acceptance of advanced assistive technology.

The market size is expected to reach US$ 22.98 Bn by 2023. The North America region is expected to dominate the market during the forecast period owing to increasing geriatric population and favorable reimbursement policies for assistive devices in countries like the US and Canada.

Regional analysis Europe is expected to grow at a steady pace during the forecast period owing to growing awareness regarding benefits of assistive devices and presence of major market players in the region.

Key players operating in the assistive technology market are Invacare Corporation, Ottobock SE & Co. KGaA, Sonova Holding AG, GN Store Nord A/S, MED-EL, Cochlear Limited, Permobil AB, Sunrise Medical LLC, Tobii AB, ResMed Inc., Sivantos Group, Ai-Media, Phonak AG, Starkey Hearing Technologies, Dynavox Systems LLC. Key players are mainly focusing on new product launches and geographical expansion to gain maximum market share.


Read More: https://www.dailyprbulletin.com/vaccines-projected-to-boost-the-growth-of-animal-healthcare-market-share-size-analysis/

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