Global Elderly and Disabled Assistive Devices Market - Trends and Forecast 2014 - 2024
The global elderly and disabled assist devices market was valued at US$ 14,109.1 million in 2015 and is projected to expand at a CAGR of 7.4% during the forecast period (20162024), according to a new report. Rapidly aging population in Asia and Latin America is a major factor propelling demand for elderly and disabled assist devices. Global Elderly and Disabled Assistive Devices Market, By End User (Hospital, Home Care Settings), By Device Type (Medical Mobility Aids and Ambulatory Devices, Medical Furniture and Bathroom Safety Products, Hearing Aids, Vision and Reading Aids), and By Geography - Trends and Forecast 2014 2024
The global elderly and disabled assist devices market was valued at US$ 14,109.1 million in 2015 and is projected to expand at a CAGR of 7.4% during the forecast period (20162024), according to a new report. Rapidly aging population in Asia and Latin America is a major factor propelling demand for elderly and disabled assist devices.
Global Elderly and Disabled Assistive Devices Market, By End User (Hospital, Home Care Settings), By Device Type (Medical Mobility Aids and Ambulatory Devices, Medical Furniture and Bathroom Safety Products, Hearing Aids, Vision and Reading Aids), and By Geography - Trends and Forecast 2014 2024
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<strong>Elderly</strong> <strong>and</strong> disabled population are dependent, to a great extent, on other people or<br />
devices that support them in their day-to-day activities such as locomotion, proper<br />
vision <strong>and</strong> hearing, <strong>and</strong> more importantly safety while performing these activities.<br />
<strong>Assistive</strong> devices provide greater independence to elderly <strong>and</strong> disabled population<br />
in performing their tasks, which can otherwise be a tedious task. <strong>Assistive</strong> devices<br />
such as ambulatory aids, hearing aids, braille translators, <strong>and</strong> text-to-speech readers<br />
enhances accessibility <strong>and</strong> convenience for disabled people.<br />
<strong>Market</strong> Dynamics:<br />
Aging upturns the dependency on others or assistive devices, for daily activities<br />
<strong>and</strong> living quality life. According to a report published in March 2016 by the U.S.<br />
Census Bureau, the share of world population aged 65 years <strong>and</strong> above is projected<br />
to increase from 8.5% in 2015 to 12% by 2030 <strong>and</strong> further increase to 16.7% by<br />
2050. The report also states that the population in Asia <strong>and</strong> Latin America are<br />
rapidly aging. Japan is touted to be the oldest major country worldwide, with<br />
26.6% of its population being aged 65 years <strong>and</strong> above in 2015. Therefore, dem<strong>and</strong><br />
for elderly assist devices such as hearing aids, reading aids <strong>and</strong> locomotive<br />
equipment (wheelchair, cranes <strong>and</strong> crutches) is projected to be high in Asia <strong>and</strong><br />
Latin America during the forecast period (2016– <strong>2024</strong>).<br />
However, the elderly <strong>and</strong> disabled assistive devices market, is witnessing intense<br />
competition especially from regional players as they offer products at a much<br />
cheaper rate. In order to overcome this challenge, market players are projected to<br />
focus on strengthening their distribution network <strong>and</strong> promote sales through<br />
strategic collaboration with distributors, hospitals, retailers <strong>and</strong> direct-toconsumers.<br />
Browse full report with Table of Content @<br />
https://marketreportscenter.com/reports/511568/global-elderly-<strong>and</strong>-disabledassistive-devices-market-trends-<strong>and</strong>-forecast-<strong>2014</strong>-<strong>2024</strong><br />
<strong>Market</strong> Taxonomy:
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