Elderly and Disabled Assistive Devices Market is Expected to Reach USD 19.68 Billion Globally in 2019: Transparency Market

 Elderly and Disabled Assistive Devices Market is Expected to Reach USD 19.68
            Billion Globally in 2019: Transparency Market Research

  PR Newswire

  ALBANY, New York, October 1, 2013

ALBANY, New York, October 1, 2013 /PRNewswire/ --

According to a new market report published by Transparency Market Research "
Elderly and Disabled Assistive Devices Market (Medical Mobility Aids and
Ambulatory Devices, Medical Furniture and Bathroom Safety Products, Hearing
Aids and Vision & Reading Aids) -  Global Industry Analysis, Size, Share,
Growth, Trends and Forecast, 2013  -  2019 , " the global elderly and
disabled assistive devices market was valued at USD 12.37 billion in 2012 and
is expected to grow at a CAGR of 6.9% from 2013 to 2019, to reach an estimated
value of USD 19.68 billion in 2019.

Browse the full report with Complte TOC at 
http://www.transparencymarketresearch.com/elderly-disabled-assistive-devices.html

The devices that assist the elderly and disabled population patients in their
day-to-day activities such as movement, listening and reading are termed as
elderly and disabled assistive devices. These devices are both simple and
complex in design. Devices such as wheelchairs, cranes, crutches and scooters
are simple in design, while hearing aids, reading machines and transfer lifts
represent design complexity. The market for these devices can be broadly
categorized into medical mobility aids and ambulatory devices, medical
furniture and bathroom safety products, vision and reading aids, and hearing
aids. The global market for elderly and disabled assistive devices is expected
to record a CAGR of 6.9% during the forecast period of 2013 to 2019.

This growth is attributed to the increase in government support and
initiatives to ensure availability of these devices for a large consumer
population. For instance, the governments of various nations such the U.S.,
U.K. and Switzerland provide grants to disabled people for purchasing
assistive devices, whereas, the Canadian government allows disabled persons to
pay little or no tax. A rise in global geriatric and disabled population will
also support the growth of this market. It is estimated that the global
elderly population will grow to reach a count of around 2,000 million by 2050.
The growth of this market may, however, be negatively affected due to high
cost of products such as bone anchored hearing aids (BAHA) that cost around
USD 10,000. Presently, very few medical insurers reimburse these assistive
devices, which will also hinder the growth of this market.

The hearing aids market accounted for the largest share of the total market in
2012, in terms of revenue. This is due to a large number of people suffering
from hearing impairments globally, and introduction of technologically
advanced products such as cochlear implants and BAHA. However, the medical
mobility aids and ambulatory devices market is expected to show the highest
growth due to the rising geriatric population and increasing government
support in the form of grants and subsidies for the purchase of mobility
devices. The market for medical mobility aids and ambulatory devices is
expected to grow at a CAGR of over 8% from 2013 to 2019.

Geographically, North America is expected to be the largest regional market
since most of the major manufacturers of these devices are based in the U.S.
In addition, high disposable incomes and a favorable reimbursement scenario
will also support the growth of this market. The Asia-Pacific region is
expected to witness the highest growth at a CAGR of 8.1%, owing to the
increasing government support and rise in geriatric population significantly.

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The key players in the global elderly and disabled assistive devices market
include Sonova Holding AG, William Demant Holding A/S, Invacare Corporation,
Sunrise Medical LLC, GN ReSound Group, Ai Squared, Drive Medical Design and
Manufacturing, and Starkey Hearing Technologies. The market is highly
fragmented, with a few key players catering to different segments of the
market. For instance, Sonova Holding and William Demant Holding lead the
hearing aids segment, whereas, Invacare Corporation and Sunrise Medical LLC
lead the medical mobility aids and ambulatory devices market segment.

The global elderly and disabled assistive devices market has been segmented as
below:

Elderly and Disabled Assistive Devices Market, by Types

  *Medical Mobility Aids and Ambulatory Devices

       *Wheelchairs
       *Mobility Scooters
       *Cranes and Crutches
       *Walkers and Rollators
       *Transfer Lifts
       *Door Openers
       *Others (Cushions, Pillow and Back Support)

  *Medical Furniture and Bathroom Safety Products

       *Medical Beds
       *Commodes & Showers Chairs
       *Ostomy Products
       *Bars and Railings
       *Others (Bath lifts and Pool Lifts)

  *Hearing Aids

       *Receiver-in-the-Ear (RITE) Aids
       *Behind-the-Ear (BTE) Aids
       *In-the-Ear (ITE) Aids
       *Canal Hearing Aids
       *Bone Anchored Hearing Aids (BAHA)
       *Cochlear Implants

  *Vision and Reading Aids

       *Video Magnifiers
       *Braille Translators
       *Reading Machines
       *Others (Books and Kitchen Appliances)

Elderly and Disabled Assistive Devices Market, by Geography

  *North America
  *Europe
  *Asia-Pacific
  *Rest of the World (RoW)

Browse all Medical Devices Market Research Reports @
http://www.transparencymarketresearch.com/medical-devices-market-reports-6.html

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