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Assistive Technology Market to register a growth of USD 7.93 billion | Demant AS and Drive DeVilbiss Healthcare are the Key Vendors

Assistive Technology Market to register a growth of USD 7.93 billion | Demant AS and Drive DeVilbiss Healthcare are the Key Vendors

NEW YORK, April 20, 2022 /PRNewswire/ — The market share of assistive technology is anticipated to grow by USD 7.93 billion from 2020 to 2025. Moreover, the growth momentum of the market during this period will accelerate at a CAGR of 7.26%.

Technavio has announced its latest market research report titled Assistive Technology Market by Device and Geography – Forecast and Analysis 2021-2025

The report “Assistive Technology Market by Device and Geography – Forecast and Analysis 2021-2025” includes a comprehensive analysis of vendor strategies, the current market scenario, and the latest trends and drivers.

Key vendors insights

The assistive technology market is fragmented. Vendors in the market are competing by providing solutions that are suitable for the local environmental conditions and requirements of end-users.

The assistive technology market is led by a few well-established players, including Demant AS, Drive DeVilbiss Healthcare, GF Health Products Inc., GN Store Nord AS, Invacare Corp., MED-EL Elektromedizinische Gerate GmbH, Medline Industries Inc., Permobil AB, Sonova Holding AG, and Sunrise Medical LLC among others. They compete based on factors such as operational cost, innovation, price, and product quality. In addition, companies are focusing on achieving a competitive edge by introducing new technologies and increasing their margins in response to changing market conditions in the end-use industries.

Product offerings

  • Demant AS – The company is involved in the development, manufacturing, and sales of products and equipment that help people with hearing loss connect and communicate with other people. Some of the hearing aid devices offered by the company are Oticon, Bernafon, and Sonic.

  • Drive DeVilbiss Healthcare – The company manufactures and offers electrically operated patient lifts such as Samsoft 175 V2 Lifter.

  • GF Health Products Inc. – The company offers a wide range of assistive technology products such as folding walkers, non-folding walkers, healthcare seating.

  • GN Store Nord AS – The company is involved in the development, manufacturing, and sales of innovative audio devices across the world.

For more highlights on products offerings and the growth strategies adopted by the vendors, Download a sample report

Parent Market Outlook

The growth of the global healthcare technology market will be driven by factors that will impact the healthcare market and the IT spending market. Some of the factors include continuous pressure to reduce costs, improved care through technology, connected health, and increasing life expectancy.

Assistive Technology Market trend

The adoption of hearing aids with rechargeable batteries is a trend in the market. These batteries include lithium-ion chargeable batteries and zinc rechargeable batteries. They can offer more power than traditional rechargeable batteries and can serve a lifetime for hearing aids. These batteries are non-toxic and non-flammable. Moreover, vendors and companies are focusing on making silver-zinc rechargeable batteries that are considered safe for the environment and the user.

Geography

  • North America

  • Europe

  • Asia

  • ROW

North America holds the leading position with 34% of the market share growth. The US is a key market in North America. The growth of advanced healthcare facilities and rising healthcare spending will facilitate the assistive technology market growth in North America over the forecast period.

View a report sample for extensive insights on key market Drivers, Trends, and Challenges influencing the market.

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Do reach out to our analysts for a more customized report as per your needs. Speak to our Analyst now!

Assistive Technology Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 7.26%

Market growth 2021-2025

USD 7.93 billion

Market structure

Fragmented

YoY growth (%)

3.39

Regional analysis

North America, Europe, Asia, and ROW

Performing market contribution

North America at 34%

Key consumer countries

US, Germany, Japan, UK, and France

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Boundless Assistive Technology LLC, Demant AS, Drive DeVilbiss Healthcare, GF Health Products Inc., GN Store Nord AS, Hoveround Corp., Invacare Corp., Karma Medical Products Co. LTD., MED-EL Elektromedizinische Gerate GmbH, Medline Industries Inc., 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 Holding 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, 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

Executive Summary

Market Landscape

  • Market ecosystem

  • Market Characteristics

  • Value chain analysis

Market Sizing

Five Forces Analysis

Market Segmentation by Device

  • Market segments

  • Comparison by Device

  • Sensory aids – Market size and forecast 2020-2025

  • Mobility aids – Market size and forecast 2020-2025

  • Others – Market size and forecast 2020-2025

  • Market opportunity by Device

Customer landscape

Geographic Landscape

  • Geographic segmentation

  • Geographic comparison

  • North America – Market size and forecast 2020-2025

  • Europe – Market size and forecast 2020-2025

  • Asia – Market size and forecast 2020-2025

  • ROW – Market size and forecast 2020-2025

  • Key leading countries

  • Market opportunity by geography

  • Market drivers

  • Market challenges

  • Market trends

Vendor Landscape

  • Vendor landscape

  • Competitive Scenario

  • Landscape disruption

Vendor Analysis

  • Vendors covered

  • Market positioning of vendors

  • Demant AS

  • Drive DeVilbiss Healthcare

  • GF Health Products Inc.

  • GN Store Nord AS

  • Invacare Corp.

  • MED-EL Elektromedizinische Gerate GmbH

  • Medline Industries Inc.

  • Permobil AB

  • Sonova Holding AG

  • Sunrise Medical LLC

Appendix

About Technavio
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 consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. 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.

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