Assistive Devices for Vulnerable Groups Market By Product , By End-user : Global Opportunity Analysis and Industry Forecast, 2024-2033

Description

The assistive devices for vulnerable groups market was valued at $31.4 billion in 2023, and is projected to reach $54.9 billion by 2033, growing at a CAGR of 5.7% from 2024 to 2033.

Assistive devices are adaptive and rehabilitative medical devices, ranging from mobility aids like wheelchairs and walkers to communication tools such as hearing aids and speech-generating devices. These devices are designed to improve independence, accessibility, and overall well-being of individuals with disabilities, those with chronic health conditions, and elderly.

The growth of the global assistive devices for vulnerable groups market is majorly driven by alarming rise in the number of individuals living with disabilities or chronic health conditions and increase in awareness of the needs of vulnerable groups along with the benefits of assistive devices. According to a study published by teh World Health Organization in March 2023, approximately 1.3 billion individuals live with some form of disability, representing 16% of the global population. In addition, surge in geriatric population is a ket factor contributing toward the market growth. This is attributed to the fact that aged individuals are highly susceptible to disabilities due to natural, age-related degenerative processes. As per the World Health Organization, the number of people aged 60 years and older was 1 billion in 2019. This number is estimated to increase to 1.4 billion by 2030 and 2.1 billion by 2050. Thus, the number of disable individuals are estimated to rise due to aging population and increase in chronic health conditions in the coming future, which, in turn, is likely to boost the market growth. Furthermore, increase in healthcare expenditure and development of healthcare infrastructure in emerging economies are making assistive devices more accessible to a broader population, augmenting the market growth. However, high cost associated with assistive devices, such as advanced wheelchairs, hearing aids, and home modifications, can be prohibitive for many individuals, especially in low-income settings or for those on fixed incomes, thus hampering the market growth. In addition, lack of awareness about assistive devices and their benefits acts as a key deterrent factor of the global market. Moreover, lack of appropriate health facilities to meet population needs in most countries and limited access restrain the market growth. On the contrary, increase in unmet demand for mobility aids is expected to offer remunerative opportunities for the growth of the global market during the forecast period. As per the estimates of the World Health Organization, the need for assistive devices will rise to 3.5 billion by 2050. Furthermore, innovations in technology, such as improved materials, smart devices, and AI-driven solutions, are enhancing the functionality and accessibility of assistive devices, which are expected to open new avenues for the growth of the global market.

The global assistive devices for vulnerable groups market analysis is segmented into product, end user, and region. Depending on product type, the market is classified into hearing & vision aids, mobility assistive devices, bathroom safety equipment, and medical furniture.? As per end user, it is classified into hospitals, home care, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Findings

Depending on product type, the mobility assistive devices dominated the market in 2023.

As per end user, homecare is likely to emerge as a leading segment by 2033.

Region wise, North America held the largest market share in the terms of revenue in 2023; however, Asia-Pacific is expected to witness notable growth during the forecast period.

Competition Analysis

Competitive analysis and profiles of the major players in the global assistive devices for vulnerable groups market include GN Resound Group, Starkey Hearing Technologies, Siemens AG, William Demant Holding A/S, Sonova Holding AG, AI Squared, Invacare Corporation, Drive Medical, Nordic Capital (Sunrise Medical LLC), and Pride Mobility Products Corporation. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to sustain the intense competition and gain a strong foothold in the global market.

Additional benefits you will get with this purchase are:

Quarterly Update and* (only available with a corporate license, on listed price)
5 additional Company Profile of client Choice pre- or Post-purchase, as a free update.
Free Upcoming Version on the Purchase of Five and Enterprise User License.
16 analyst hours of support* (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting to 16 analyst hours to solve questions, and post-sale queries)
15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
Free data Pack on the Five and Enterprise User License. (Excel version of the report)
Free Updated report if the report is 6-12 months old or older.
24-hour priority response*
Free Industry updates and white papers.

Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)

Patient/epidemiology data at country, region, global level
Regulatory Guidelines
Additional company profiles with specific to client's interest
Additional country or region analysis- market size and forecast
Expanded list for Company Profiles
Historic market data
SWOT Analysis

Key Market Segments

By Product

Hearing vision aids
Mobility assistive devices
Bathroom safety equipment
Medical furniture

By End-user

Hospitals
Home care
Others

By Region

North America
- U.S.
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- Spain
- UK
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
LAMEA
- Brazil
- South Africa
- Saudi Arabia
- Rest of LAMEA

Key Market Players:

GN Resound Group
Starkey Hearing Technologies
Siemens AG
William Demant Holding A/S
Sonova Holding AG
AI Squared
Invacare Corporation
Drive Medical
Nordic Capital (Sunrise Medical Llc)
Pride Mobility Products Corporation.

Product Code: A324063

CHAPTER 1: INTRODUCTION

1.1. Report Description
1.2. Key Market Segments
1.3. Key Benefits
1.4. Research Methodology
- 1.4.1. Primary Research
- 1.4.2. Secondary Research
- 1.4.3. Analyst Tools and Models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. CXO Perspective

CHAPTER 3: MARKET LANDSCAPE

3.1. Market Definition and Scope
3.2. Key Findings
- 3.2.1. Top Investment Pockets
- 3.2.2. Top Winning Strategies
3.3. Porter's Five Forces Analysis
- 3.3.1. Bargaining Power of Suppliers
- 3.3.2. Threat of New Entrants
- 3.3.3. Threat of Substitutes
- 3.3.4. Competitive Rivalry
- 3.3.5. Bargaining Power among Buyers
3.4. Market Dynamics
- 3.4.1. Drivers
- 3.4.2. Restraints
- 3.4.3. Opportunities

CHAPTER 4: ASSISTIVE DEVICES FOR VULNERABLE GROUPS MARKET, BY PRODUCT

4.1. Market Overview
- 4.1.1 Market Size and Forecast, By Product
4.2. Hearing Vision Aids
- 4.2.1. Key Market Trends, Growth Factors and Opportunities
- 4.2.2. Market Size and Forecast, By Region
- 4.2.3. Market Share Analysis, By Country
4.3. Mobility Assistive Devices
- 4.3.1. Key Market Trends, Growth Factors and Opportunities
- 4.3.2. Market Size and Forecast, By Region
- 4.3.3. Market Share Analysis, By Country
4.4. Bathroom Safety Equipment
- 4.4.1. Key Market Trends, Growth Factors and Opportunities
- 4.4.2. Market Size and Forecast, By Region
- 4.4.3. Market Share Analysis, By Country
4.5. Medical Furniture
- 4.5.1. Key Market Trends, Growth Factors and Opportunities
- 4.5.2. Market Size and Forecast, By Region
- 4.5.3. Market Share Analysis, By Country

CHAPTER 5: ASSISTIVE DEVICES FOR VULNERABLE GROUPS MARKET, BY END-USER

5.1. Market Overview
- 5.1.1 Market Size and Forecast, By End-user
5.2. Hospitals
- 5.2.1. Key Market Trends, Growth Factors and Opportunities
- 5.2.2. Market Size and Forecast, By Region
- 5.2.3. Market Share Analysis, By Country
5.3. Home Care
- 5.3.1. Key Market Trends, Growth Factors and Opportunities
- 5.3.2. Market Size and Forecast, By Region
- 5.3.3. Market Share Analysis, By Country
5.4. Others
- 5.4.1. Key Market Trends, Growth Factors and Opportunities
- 5.4.2. Market Size and Forecast, By Region
- 5.4.3. Market Share Analysis, By Country

CHAPTER 6: ASSISTIVE DEVICES FOR VULNERABLE GROUPS MARKET, BY REGION

6.1. Market Overview
- 6.1.1 Market Size and Forecast, By Region
6.2. North America
- 6.2.1. Key Market Trends and Opportunities
- 6.2.2. Market Size and Forecast, By Product
- 6.2.3. Market Size and Forecast, By End-user
- 6.2.4. Market Size and Forecast, By Country
- 6.2.5. U.S. Assistive Devices for Vulnerable Groups Market
  - 6.2.5.1. Market Size and Forecast, By Product
  - 6.2.5.2. Market Size and Forecast, By End-user
- 6.2.6. Canada Assistive Devices for Vulnerable Groups Market
  - 6.2.6.1. Market Size and Forecast, By Product
  - 6.2.6.2. Market Size and Forecast, By End-user
- 6.2.7. Mexico Assistive Devices for Vulnerable Groups Market
  - 6.2.7.1. Market Size and Forecast, By Product
  - 6.2.7.2. Market Size and Forecast, By End-user
6.3. Europe
- 6.3.1. Key Market Trends and Opportunities
- 6.3.2. Market Size and Forecast, By Product
- 6.3.3. Market Size and Forecast, By End-user
- 6.3.4. Market Size and Forecast, By Country
- 6.3.5. France Assistive Devices for Vulnerable Groups Market
  - 6.3.5.1. Market Size and Forecast, By Product
  - 6.3.5.2. Market Size and Forecast, By End-user
- 6.3.6. Germany Assistive Devices for Vulnerable Groups Market
  - 6.3.6.1. Market Size and Forecast, By Product
  - 6.3.6.2. Market Size and Forecast, By End-user
- 6.3.7. Italy Assistive Devices for Vulnerable Groups Market
  - 6.3.7.1. Market Size and Forecast, By Product
  - 6.3.7.2. Market Size and Forecast, By End-user
- 6.3.8. Spain Assistive Devices for Vulnerable Groups Market
  - 6.3.8.1. Market Size and Forecast, By Product
  - 6.3.8.2. Market Size and Forecast, By End-user
- 6.3.9. UK Assistive Devices for Vulnerable Groups Market
  - 6.3.9.1. Market Size and Forecast, By Product
  - 6.3.9.2. Market Size and Forecast, By End-user
- 6.3.10. Rest of Europe Assistive Devices for Vulnerable Groups Market
  - 6.3.10.1. Market Size and Forecast, By Product
  - 6.3.10.2. Market Size and Forecast, By End-user
6.4. Asia-Pacific
- 6.4.1. Key Market Trends and Opportunities
- 6.4.2. Market Size and Forecast, By Product
- 6.4.3. Market Size and Forecast, By End-user
- 6.4.4. Market Size and Forecast, By Country
- 6.4.5. China Assistive Devices for Vulnerable Groups Market
  - 6.4.5.1. Market Size and Forecast, By Product
  - 6.4.5.2. Market Size and Forecast, By End-user
- 6.4.6. Japan Assistive Devices for Vulnerable Groups Market
  - 6.4.6.1. Market Size and Forecast, By Product
  - 6.4.6.2. Market Size and Forecast, By End-user
- 6.4.7. India Assistive Devices for Vulnerable Groups Market
  - 6.4.7.1. Market Size and Forecast, By Product
  - 6.4.7.2. Market Size and Forecast, By End-user
- 6.4.8. South Korea Assistive Devices for Vulnerable Groups Market
  - 6.4.8.1. Market Size and Forecast, By Product
  - 6.4.8.2. Market Size and Forecast, By End-user
- 6.4.9. Australia Assistive Devices for Vulnerable Groups Market
  - 6.4.9.1. Market Size and Forecast, By Product
  - 6.4.9.2. Market Size and Forecast, By End-user
- 6.4.10. Rest of Asia-Pacific Assistive Devices for Vulnerable Groups Market
  - 6.4.10.1. Market Size and Forecast, By Product
  - 6.4.10.2. Market Size and Forecast, By End-user
6.5. LAMEA
- 6.5.1. Key Market Trends and Opportunities
- 6.5.2. Market Size and Forecast, By Product
- 6.5.3. Market Size and Forecast, By End-user
- 6.5.4. Market Size and Forecast, By Country
- 6.5.5. Brazil Assistive Devices for Vulnerable Groups Market
  - 6.5.5.1. Market Size and Forecast, By Product
  - 6.5.5.2. Market Size and Forecast, By End-user
- 6.5.6. South Africa Assistive Devices for Vulnerable Groups Market
  - 6.5.6.1. Market Size and Forecast, By Product
  - 6.5.6.2. Market Size and Forecast, By End-user
- 6.5.7. Saudi Arabia Assistive Devices for Vulnerable Groups Market
  - 6.5.7.1. Market Size and Forecast, By Product
  - 6.5.7.2. Market Size and Forecast, By End-user
- 6.5.8. Rest of LAMEA Assistive Devices for Vulnerable Groups Market
  - 6.5.8.1. Market Size and Forecast, By Product
  - 6.5.8.2. Market Size and Forecast, By End-user

CHAPTER 7: COMPETITIVE LANDSCAPE

7.1. Introduction
7.2. Top Winning Strategies
7.3. Product Mapping of Top 10 Player
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Top Player Positioning, 2023

CHAPTER 8: COMPANY PROFILES

8.1. GN Resound Group
- 8.1.1. Company Overview
- 8.1.2. Key Executives
- 8.1.3. Company Snapshot
- 8.1.4. Operating Business Segments
- 8.1.5. Product Portfolio
- 8.1.6. Business Performance
- 8.1.7. Key Strategic Moves and Developments
8.2. Starkey Hearing Technologies
- 8.2.1. Company Overview
- 8.2.2. Key Executives
- 8.2.3. Company Snapshot
- 8.2.4. Operating Business Segments
- 8.2.5. Product Portfolio
- 8.2.6. Business Performance
- 8.2.7. Key Strategic Moves and Developments
8.3. Siemens AG
- 8.3.1. Company Overview
- 8.3.2. Key Executives
- 8.3.3. Company Snapshot
- 8.3.4. Operating Business Segments
- 8.3.5. Product Portfolio
- 8.3.6. Business Performance
- 8.3.7. Key Strategic Moves and Developments
8.4. William Demant Holding A/S
- 8.4.1. Company Overview
- 8.4.2. Key Executives
- 8.4.3. Company Snapshot
- 8.4.4. Operating Business Segments
- 8.4.5. Product Portfolio
- 8.4.6. Business Performance
- 8.4.7. Key Strategic Moves and Developments
8.5. Sonova Holding AG
- 8.5.1. Company Overview
- 8.5.2. Key Executives
- 8.5.3. Company Snapshot
- 8.5.4. Operating Business Segments
- 8.5.5. Product Portfolio
- 8.5.6. Business Performance
- 8.5.7. Key Strategic Moves and Developments
8.6. AI Squared
- 8.6.1. Company Overview
- 8.6.2. Key Executives
- 8.6.3. Company Snapshot
- 8.6.4. Operating Business Segments
- 8.6.5. Product Portfolio
- 8.6.6. Business Performance
- 8.6.7. Key Strategic Moves and Developments
8.7. Invacare Corporation
- 8.7.1. Company Overview
- 8.7.2. Key Executives
- 8.7.3. Company Snapshot
- 8.7.4. Operating Business Segments
- 8.7.5. Product Portfolio
- 8.7.6. Business Performance
- 8.7.7. Key Strategic Moves and Developments
8.8. Drive Medical
- 8.8.1. Company Overview
- 8.8.2. Key Executives
- 8.8.3. Company Snapshot
- 8.8.4. Operating Business Segments
- 8.8.5. Product Portfolio
- 8.8.6. Business Performance
- 8.8.7. Key Strategic Moves and Developments
8.9. Nordic Capital (Sunrise Medical LLC)
- 8.9.1. Company Overview
- 8.9.2. Key Executives
- 8.9.3. Company Snapshot
- 8.9.4. Operating Business Segments
- 8.9.5. Product Portfolio
- 8.9.6. Business Performance
- 8.9.7. Key Strategic Moves and Developments
8.10. Pride Mobility Products Corporation.
- 8.10.1. Company Overview
- 8.10.2. Key Executives
- 8.10.3. Company Snapshot
- 8.10.4. Operating Business Segments
- 8.10.5. Product Portfolio
- 8.10.6. Business Performance
- 8.10.7. Key Strategic Moves and Developments