Assistive Technology Market

The term AT refers to any device or software that helps a person with a disability does something they cannot do on their own. People use AT at home, in schools, and on the job. For example, a student with a visual impairment might use a slant board to assist with writing or a talking calculator when working on math. In the classroom, a student with a motor impairment might use flexible furniture or an exercise ball to improve gross motor movement. Students with speech disabilities benefit from assistive technologies that support communication such as a stuttering app, voice-to-text programs and word prediction software.

Market Dynamics:

The global population is aging and the demand for assistive technologies to assist the geriatric population is rising. Mobility aids, hearing aids, and vision enhancement devices help older individuals maintain their independence and quality of life through the use of assistive technology. Increasing government initiatives for the development of assistive technologies is expected to drive the growth of global assistive technologic market over the forecast period. For instance, on June 23 2023, Indian Institute of Technology Madras (IIT Madras) launched the National Center for Assistive Health Technologies, IIT Madras (NCAHT-IITM), an initiative of the Indian Council for Medical Research (ICMR), to boost research and development in assistive technologies.

However, cost is a significant market constraint for assistive technology (AT). Numerous AT solutions, such as sophisticated prosthetics, communication devices, and mobility aids, can be costly, thereby making them unaffordable for some people with disabilities. The costly development and manufacturing costs of AT devices contribute to their inflated prices. Insufficient insurance coverage and a lack of funding options further impede access to assistive technology.

Key features of the study:

• This report provides in-depth analysis of the global assistive technology market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global assistive technology market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Invacare Corporation, Ottobock SE & Co. KGaA, Sonova Holding AG, GN Store Nord A/S, MED-EL, Cochlear Limited., Permobil AB, Sunrise Medical LLC., Tobii AB, ResMed Inc., Sivantos Group, Ai-Media, Phonak AG, Starkey Hearing Technologies, and Dynavox Systems LLC.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• Global assistive technology market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global assistive technology market

Detailed Segmentation:

• Global Assisstive Technology Market, By Product Type:
  • Mobility Devices
  • Hearing Aids
  • Vision and Reading Aids
  • Communication Devices
  • Daily Living Aids
  • Prosthetics and Orthotics
  • Assistive Software and Apps
  • Others
• Global Assisstive Technology Market, By Disability Type:
  • Mobility Impairment
  • Hearing Impairment
  • Visual Impairment
  • Speech and Language Impairment
  • Cognitive Impairment
  • Others
• Global Assisstive Technology Market, By Age Group:
  • Children
  • Adults
  • Elderly
• Global Assisstive Technology Market, By End User:
  • Hospital
  • Homecare Settings
  • Others
• Global Assisstive Technology Market, By Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa
• Company Profile:
• • Invacare Corporation
  • Ottobock SE & Co. KGaA
  •  Sonova Holding AG
  • GN Store Nord A/S
  • MED-EL
  • Cochlear Limited
  • Permobil AB
  • Sunrise Medical LLC
  • Tobii AB, ResMed Inc.
  • Sivantos Group
  • Ai-Media
  • Phonak AG
  • Starkey Hearing Technologies
  • Dynavox Systems LLC