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News

Assistive device market for the elderly and disabled

Research And Markets : 24 February, 2014  (New Product)
Market report examines the growth in requirements for assistive devices internationally for the next five years
Assistive device market for the elderly and disabled


Research and Markets has announced the addition of the "Concise Analysis of the International Elderly And Disabled Assistive Devices Market - Forecasts to 2019" report to their offering.



The rise in technological advancements has significantly revolutionized the market for elderly and disabled devices. For instance the introduction of powered wheelchairs in the market has eased the life of patients by reducing the time and energy required in operating it manually. In addition, cochlear implants have also reduced the need for wearing hearing aids externally. These technologically advanced products are gaining acceptance among the target population hence, demand for the same is increasing. The market is expected to grow at a CAGR of 6.9% from 2013 to 2019 to reach an estimated value of USD 19,684.9 million in 2019. This growth is attributed to rise in geriatric and disabled population, increasing government funding and introduction of technologically advanced products such as implants, powered wheelchairs, transfer lifts, portable reading machines and sensor based door openers.



Hearing aids accounted for the major share in the market of elderly and disabled assistive devices in 2012. This is due to the large population suffering from hearing impairments and mobility problems. According to World Health Organization (WHO), around 5% of total world population suffers from hearing loss annually. In addition, U.S. National Institute of Deafness and Other Communication Disorders (NIDCD) stated that the risk of hearing loss in elderly population increases by 10%. Around 524 million people globally belonged to geriatric segment in 2010 and it has been estimated that it will reach around 2,000 million in 2050.



The report can be purchased directly from Research and Markets here: "Concise Analysis of the International Elderly And Disabled Assistive Devices Market - Forecasts to 2019"



 


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