Elderly and disabled population are dependent, to a great extent, on other people or devices that support them in their day-to-day activities such as locomotion, proper vision and hearing, and more importantly safety while performing these activities. Assistive devices provide greater independence to elderly and disabled population in performing their tasks, which can otherwise be a tedious task. Assistive devices such as ambulatory aids, hearing aids, braille translators, and text-to-speech readers enhances accessibility and convenience for disabled people.
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Market Dynamics
Aging upturns the dependency on others or assistive devices, for daily activities and living quality life. According to a report published in March 2016 by the U.S. Census Bureau, the share of world population aged 65 years and above is projected to increase from 8.5% in 2015 to 12% by 2030 and further increase to 16.7% by 2050. The report also states that the population in Asia and Latin America are rapidly aging. Japan is touted to be the oldest major country worldwide, with 26.6% of its population being aged 65 years and above in 2015. Therefore, demand for elderly assist devices such as hearing aids, reading aids and locomotive equipment (wheelchair, cranes and crutches) is projected to be high in Asia and Latin America during the forecast period (2016–2024).
However, the elderly and disabled assistive devices market, is witnessing intense competition especially from regional players as they offer products at a much cheaper rate. In order to overcome this challenge, market players are projected to focus on strengthening their distribution network and promote sales through strategic collaboration with distributors, hospitals, retailers and direct-to-consumers.
Market Taxonomy
This report segments the global elderly and disabled assistive devices market on the basis of end user, device type and geography. The elderly and disabled assistive devices market is classified on the basis of end-use into hospitals, home care settings, and others. On the basis of device type, the market is segmented into medical mobility aids and ambulatory devices, medical furniture and bathroom safety products, hearing aids, and vision and reading aids. For comprehensive understanding of market dynamics, the is analyzed across key geographical regions namely North America, Europe, Asia Pacific, Latin America, Africa, and Middle East. Each of these regions is analyzed based on the market findings across major countries in these regions for a macro-level understanding of the market.
Initiatives of government and independent agencies favorably shaping the elderly and disabled assistive devices market scenario
Only 5%–15% of the population in low and middle-income countries, who are in need of elderly and disabled assistive devices, have access to them, as per stats released by the World Health Organization (WHO). Therefore, WHO along with its collaborating centers is working towards improving accessibility of elderly and disabled assistive devices to better cater to the patient population. Few of this initiatives include:
Organizing regional and country workshops, meetings, and seminars
Creating a database on availability of appropriate assistive devices and technologies
Developing normative guidelines
Providing assistance for development of national policies and programs on assistive devices and technologies with a focus on human resource development
Furthermore, on the basis of discussion in the 66th World Health Assembly, held in 2013, WHO prepared a comprehensive global disability action plan for 2014 – 2021. Under this plan, WHO intends to improve access to health services and programs, extend rehabilitation, habilitation, assistive technology, assistance and support services, and support research on disability and related services. Such global initiatives are indirectly promoting adoption of assistive devices and are encouraging manufacturers to develop innovative elderly and disabled assistive devices.
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Detailed Segmentation:
Global Elderly and Disabled Assistive Devices Market, By End User:
Hospital
Home Care Settings
Others
Global Elderly and Disabled Assistive Devices Market, By Device Type:
Medical Mobility Aids and Ambulatory Devices
Medical Furniture and Bathroom Safety Products
Hearing Aids
Vision and Reading Aids
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