Published Date : Feb 06, 2018
ALBANY, New York, February 6, 2018 - The global assistive technology devices market has maintained the limelight since years due to its effective role in helping differently abled individuals to become self-independent. Keeping human resource development in view, governments have taken initiatives and devised plans to develop national programs and policies for assistive technologies and devices. A report added by MarketResearchReports.biz has offered a study on more factors deemed significant for market growth. Bearing the title “Assistive Technology (AT) Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025,” the report has foreseen the market to be classified according to end user, indication, and type of device.
In the recent years, the awareness about assistive technology devices has grown at a great pace, allowing players to take advantage of the lucrative opportunities arising as a result of it. Nevertheless, insurance companies and healthcare providers entering into profitable partnerships have also opened up new avenues in the world assistive technology devices market. Not to forget, the development in the provision of healthcare facilities has had a positive impact on the rise of the market. If you closely study the contribution of developed economies in the market, most of the demand has surged from the rising elderly population. In addition, the swelling occurrence of chronic ailments such as obesity, diabetes, and arthritis has increased the requirement of assistive technology devices in developed regions.
With that being said, how many people are really in need of assistive technology devices? A WHO survey has revealed that a mere 5-15% people actually need assistive technologies and devices. While this could act as a restraining factor in the world assistive technology devices market, the high cost of the devices and poor demand in middle and low-income economies have been anticipated to cause a downfall in growth. Nonetheless, as the popularity of assistive technologies and devices sees a rise, players could find an opening to make worthwhile profits in the market.
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The improving trend of mobility devices could augur well for the increasing demand for mobility impairment devices, so much so that this particular segment could gain a strong momentum to lead the international assistive technology devices market. Mobility impairment devices could also attain a whole lot of demand with increasing technological advancements. The report has recognized different mobile impairment devices to make a mark in the market, including prosthesis, walkers, and wheelchairs. The analysts have also taken into account other segments by device type, such as hearing and visual impairment devices.
Manufacturers have been receiving well-paid orders for various types of assistive technology devices from key end users such as homecare settings, clinics, and hospitals. By indication, the analysts authoring the report have deeply examined segments such as communication disorders, learning disabilities, cognitive disabilities, mobility impairment, and autism spectrum disorders.
The report has also segmented the international assistive technology devices market as per region, where North America has been projected to grab a king’s share in the near future, continuing from its dominating progress in the current time. The U.S. has substantially contributed toward the growth of the regional market due to the presence of leading companies and highly improved healthcare expenditure. However, the market could be in its introductory phase in emerging regions such as the Middle East and Africa, Latin America, and Asia Pacific. Prominent players such as GF Health Products, Medical Depot, and MED-EL could make it to the forefront of the market.
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