Assistive Technology Market Size to Grow by USD 7.93 Bn | Demant AS and Drive DeVilbiss Healthcare Among Key Vendors | Technavio – Yahoo Finance

NEW YORK, Jan. 12, 2022 /PRNewswire/ -- The assistive technology market value is anticipated to grow by USD 7.93 bn from 2020 to 2025. The market's growth momentum will accelerate at a CAGR of 7.26% during the forecast period.

Attractive Opportunities in Assistive Technology Market by Device and Geography - Forecast and Analysis 2021-2025

Download Free Sample Report for additional takeaways of the assistive technology market

Market DynamicsFactors such as the increasing number of orthopedic and neurological disorders, growing demand for rehabilitation centers, and the growing focus on compliance with industrial standards will drive the growth of the assistive technology market during the forecast period. However, the high cost of mobility products might hamper the market growth.

Company ProfilesSome of the companies covered in this report are Demant AS, Drive DeVilbiss Healthcare, GF Health Products Inc., Invacare Corp., GN Store Nord AS, Medline Industries Inc., MED-EL Elektromedizinische Gerate GmbH, Sonova Holding AG, Permobil AB, and Sunrise Medical LLC, etc.

Key Vendor Offerings

Demant AS - The company is involved in the manufacturing, development, and sales of products and equipment that can assist people with hearing loss in connecting and communicating with other people. Some of the hearing aid devices offered by the company are Oticon, Bernafon, and Sonic.

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

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

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

Invacare Corp. - The company is involved in the manufacturing, development, and sales of powered mobility products such as Invacare TDXSP2 with LiNX Technology.

Subscribe to Technavio's "Lite Plan" that is billed annually at USD 3000. Download 3 Reports Annually and View 3 reports monthly!

Story continues

Competitive AnalysisThe competitive scenario provided in the assistive technology market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors that have been considered for the analysis of this market include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.

Market Segmentation

By device, the market is classified into three segments, namely sensory aids, mobility aids, and others. The sensory aids segment contributes the largest share of the market. The rising demand for sensory aids among the elderly and disabled people is a key factor for the growth of this segment during the forecast period.

By geography, the market is classified into North America, Europe, Asia, and ROW. North America will have the largest share of the market. The region is expected to account for 34% of the market's growth during the forecast period. The US is a key country for the assistive technology market in North America. However, market growth in North America will be slower than the growth of the market in other regions. The growth of advanced healthcare facilities and rising healthcare spending will drive the assistive technology market growth in North America during the forecast period.

Are you looking for more information about the contribution of each segment of the assistive technology market, View Our Free Sample Report Now

Related Reports

Diagnostic Imaging Market by Product and Geography - Forecast and Analysis 2021-2025: The diagnostic imaging market share should rise by USD 7.55 billion from 2020 to 2025 at a CAGR of 5.81%. Download Free Sample Report

Healthcare IT Market by Component and Geography - Forecast and Analysis 2021-2025: The healthcare IT market has the potential to grow by USD 121.75 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 9.76%. Download Free Sample Report 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%

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

Companies profiled

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

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact 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.

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: media@technavio.comWebsite: http://www.technavio.com/

Technavio (PRNewsfoto/Technavio)

Cision

View original content to download multimedia:https://www.prnewswire.com/news-releases/assistive-technology-market-size-to-grow-by-usd-7-93-bn--demant-as-and-drive-devilbiss-healthcare-among-key-vendors--technavio-301458290.html

SOURCE Technavio

Excerpt from:

Assistive Technology Market Size to Grow by USD 7.93 Bn | Demant AS and Drive DeVilbiss Healthcare Among Key Vendors | Technavio - Yahoo Finance