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Assistive Technology Market 2023-2027 Along with 5-Year Historic (2017-2021) Industry Size & Comparison of 20 Vendors and 11 Countries


NEW YORK, Nov. 15, 2022 /PRNewswire/ — The Assistive Technology Market share is expected to increase by USD 6300.03 million from 2022 to 2027, with an accelerated CAGR of 4.95% – according to the recent market study by Technavio. This report also offers a 5-year historical (2017-2021) data projection of market size, segment, and region. The Y-O-Y growth rate of the Assistive Technology Market is estimated at 4.02% as of 2023. Moreover, the market is fragmented. Our analysts have conducted an internal and external analysis of vendors to help companies understand the wider business environment as well as the strength and weaknesses of key market players. Our report also forecasts the Bargaining Power of Buyers & Suppliers and the Threat of New Entrants & Rivalry ranging between LOW-HIGH during the forecast period.

Find Analysis of Price Sensitivity, Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria Prepared Exclusively by Technavio Research Analysts

  • One of the core components of the customer landscape is Price Sensitivity – an analysis of which will help companies refine marketing strategies to gain a competitive advantage.   
  • Moreover, this report also provides the impact of price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to the buyer, and quality is not important) which are expected to range between LOW-HIGH from 2023-2027.
  • Our report provides extensive information on the customer landscape of the Assistive Technology Market, involving qualitative and quantitative intelligence. 

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The Assistive Technology Market Report Also Offers Information on the Criticality of Inputs, R&D, Capex, Technology, Labor, and Brand of 20 Vendors Listed Below –

  • Boundless Assistive Technology LLC
  • Demant AS
  • 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 & Co. KGaA
  • Permobil AB
  • Persona Medical
  • Pride Mobility Products Corp.
  • Roma Medical
  • Sonova AG
  • Sunrise Medical LLC

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Chart & Data Table on 5-Year Historic (2017-2021) Market Size, Comparison and Y-O-Y Growth of Assistive Technology Market Segment

  • The market is segmented by Devices (Sensory aids, Mobility aids, and Others) and End-User (Hospitals, Homecare settings, and Others).
  • By Device Segment – The sensory aids segment shows a gradual increase in the demands for Assistive Technology and other factors during 2023-2027.
  • The increase in the number of people with hearing impairment and related disorders worldwide, due to the factors like noise pollution, genetics, and aging, can be attributed to the rising demand for hearing devices such as implant devices/hearing aids, Teletype (TTY) and telecommunication devices for the deaf (TDD), and personal amplifiers.
  • The growth of this segment is primarily attributed to the increasing adoption of Assistive Technology, which is driven by an increase in the global demand for the assistive technology industry.

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An increasing number of orthopedic and neurological disorders is Notably Driving the Assistive Technology Market Growth

  • The expansion of the global market for assistive technology is significantly fueled by the increasing numbers of orthopedic and neurological problems. The need for wheelchairs is rising as the number of persons with orthopedic and neurological disorders rises.
  • Patients’ need for mobility equipment is further fueled by factors such as medical emergencies, long- and short-term disability, and the increase in surgical operations.
  • A doctor may recommend wheelchairs, crutches, or canes depending on the situation (electric or manual). Many businesses provide extra features and customization to increase user convenience. Thus, it is anticipated that throughout the projected period, the prevalence of orthopedic and neurological illnesses will fuel the expansion of the global market for assistive technology.

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Chart & Data Table on Historic Market Size (2017-2021), Comparison and Y-O-Y Growth of 11 Countries of Assistive Technology Industry

  • The market is segmented by Geography North America (The U.S. and Canada), Europe (U.K., Germany, France, and the Rest of Europe), Asia (China, India, Japan, and South Korea), and Rest of the World (ROW).
  • North America is projected to grow at a percentage of 35% by 2022. North America was the most significant contributing region in the global Assistive Technology Market, primarily owing to the growth of advanced healthcare facilities, rising healthcare spending, and the presence of government organizations such as Medicaid, which provide medical aid to people with limited income and financial resources.
  • In 2020, the COVID-19 pandemic negatively impacted most North American countries, which resulted in the temporary closure of various industries, including those manufacturing Assistive Technology. The shutdowns adversely impacted their production and distribution activities. Also, as online channels were active even during the pandemic, there was an increased demand for addiction therapeutics. However, in 2021, business and industrial activities resumed due to the relaxation of the lockdown restrictions.

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Assistive Technology Market Scope

Report Coverage

Details

Page number

120

Base year

2022

Historical year

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 4.95%

Market growth 2023-2027

USD 6300.03 million

Market structure

Fragmented

YoY growth (%)

4.02

Regional analysis

North America, Europe, Asia, and the Rest of the World (ROW)

Performing market contribution

North America at 35%

Key consumer countries

US, Germany, UK, France, and Japan

Competitive landscape

Leading companies, Competitive Strategies, Consumer engagement scope

Key companies profiled

Boundless Assistive Technology LLC, Demant AS, Drive Medical GmbH & 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 & Co. KGaA, Permobil AB, Persona Medical, Pride Mobility Products Corp., Roma Medical, Sonova AG, and Sunrise Medical LLC

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, and Market condition analysis for the forecast period.

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.

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
  • 3.4 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

  • 10.3 Impact of drivers and challenges 
    • Exhibit 106: Impact of drivers and challenges in 2022 and 2027

11 Vendor Landscape

  • 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

  • 13.2 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 focuses on emerging market trends and provides 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 Their client base consists of enterprises of all sizes, including more than 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.

Contact

Technavio Research
Jesse Maida
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Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio



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