Published Date : Aug 28, 2017
Albany, New York, August 28, 2017: MarketResearchReports.biz has announced the addition of a new research report to its ever-growing repository. The research report, titled “Global Assistive Technology Market 2017-2021,” offers a detailed explanation of the strengths, weaknesses, opportunities, and threats impacting the trajectory of the global market. The report identifies the changing healthcare scenario across to understand how it is likely to drive the overall market. It states that growing number of healthcare providers are expected to the key contributors to the soaring revenue of the global assistive technology market over the forecast period.
According to the research report, the global assistive technology market is estimated to progress at a CAGR of 6% between 2017 and 2021. An unprecedented rise in the number of diseases and soaring number of medical emergencies are expected to demand better medical facilities in the near future. This has led to a major overhaul in the way hospitals, diagnostic centers, clinics, and patient care centers operate. Emergence and rising demand for assistive technology is also a result of inevitable need for improving patient care. Thus, there has been an incremental demand for products developed using assistive technologies such as wheelchairs. Analysts anticipate that demand for hearing aids and braille embossers will also show a significant rise during the forecast period.
Introduction of automation and rapid technological advancements are also expected to play an instrumental role in the development of the global market. For instance, development and commercialization of smart wheelchairs in home care and for hospitals is definitely expected to bring a major change in patient care in the near future.
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In terms of regions, the global assistive technology market is segmented into the Americas, Asia Pacific, the Middle East and Africa, and Europe. Analysts expect that the Europe will lead the global market in the coming years due to a better product availability and higher awareness about patient care in the region. The Middle East and Africa are also expected to make a significant contribution to assistive technology market due to higher disposable incomes and increasing healthcare expenditure. The research report also discusses the challenge areas for the players and the possible ways in which they can overcome these to stay ahead.
The leading players operating in the global assistive technology market are Invacare, MED-EL, Medical Depot (Drive Medical), GF Health Products, Sunrise Medical, Sonova, and William Demant Holding A/S. The research report provides a fresh perspective on the competitive landscape present in the global market. It assesses the research and development statuses, financial overview, and merger and acquisition plans of these companies in the coming years. Additionally, it also makes a note of the threat from new entrants to the existing players. It discusses the product innovations and product or service extensions being offered by these companies to the end users.
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