Parent Market Analysis
The assistive technology market has been categorized as a part of the global healthcare technology market. Technavio’s market research report extensively covers external factors influencing the parent market growth potential in the coming years to determine the growth of the assistive technology market during the forecast period.
Assistive Technology Market Highlights:
- Growth potential (2020-2025): USD 7.93 billion
- CAGR: 7.26%
- Year-over-year growth: 3.39%
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Assistive Technology Market: Major regions and key countries:
- North America (US)
- Europe (Germany, UK, and France)
- Asia (Japan)
- ROW
Assistive Technology Market: Key Vendors and Their Offerings
Demant AS, Drive DeVilbiss Healthcare, GF Health Products Inc., GN Store Nord AS, Invacare Corp., MED-EL Elektromedizinische Gerate GmbH, Medline Industries Inc., Permobil AB, Sonova Holding AG, and Sunrise Medical LLC are some of the key vendors operating in the assistive technology market. The key offerings of some of these vendors are mentioned below:
- Demant AS – The company is involved in the development, manufacturing, and sales of products and equipment that help people with hearing loss connect and communicate with other people. Some of the hearing aid devices offered by the company are Oticon, Bernafon, and Sonic.
- Drive DeVilbiss Healthcare – The company manufactures and offers electrically operated patient lifts such as Samsoft 175 V2 Lifter.
- GF Health Products Inc. – The company offers a wide range of assistive technology products such as folding walkers, non folding walkers, healthcare seating.
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Assistive Technology Market: Segmentation
- Device: By device, the assistive technology market has been classified into sensory aids, mobility aids, and others. The sensory aids segment will have significant market share growth during the forecast period. The growing demand for sensory aids among the elderly and disabled people is a key factor that will drive the growth of this segment during the forecast period. Moreover, vendors such as Invacare Corp. (Invacare), Sonova Holding AG (Sonova), and Demant AS (Demant), which offer hearing aids, are increasingly focusing on manufacturing products that comply with industrial standards while incorporating advanced technologies
- Geography: By geography, the assistive technology market has been classified into North America, Europe, Asia, and ROW. 34% of the market’s growth will originate from North America during the forecast period. The US is a key country for the assistive technology market in North America. However, market growth in North America will be slower than the growth of the market in other regions. The growth of advanced healthcare facilities and rising healthcare spending will drive the assistive technology market growth in North America during the forecast period.
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Assistive Technology Market: Customization
Technavio’s market forecast report on the assistive technology market covers all the key aspects of market research, from the latest drivers and trends to the key vendors impacting market growth. But if you still have queries, have all your questions answered by expert analysts at Technavio. Get in touch with us, and we will customize the report according to your requirements.
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Related Reports
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Assistive Technology Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.26% |
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Market growth 2021-2025 |
USD 7.93 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
3.39 |
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Regional analysis |
North America, Europe, Asia, and ROW |
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Performing market contribution |
North America at 34% |
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Key consumer countries |
US, Germany, Japan, UK, and France |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Boundless Assistive Technology LLC, Demant AS, Drive DeVilbiss Healthcare, GF Health Products Inc., GN Store Nord AS, Hoveround Corp., Invacare Corp., Karma Medical Products Co. LTD., MED-EL Elektromedizinische Gerate GmbH, Medline Industries Inc., NOVA Medical Products, Ossenberg GmbH, Ostrich Mobility Instruments Pvt. Ltd., Ottobock SE & Co. KGaA, Permobil AB, Persona Medical, Pride Mobility Products Corp., Roma Medical, Sonova Holding AG, and Sunrise Medical LLC |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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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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