NEW YORK, June 12, 2019 /PRNewswire/ -- About this
market
Several growing initiatives by governments and NGOs for promoting
the awareness about physical disabilities among the people is
driving the elderly and disabled assistive solutions market growth
during the forecast period. In many counties, the government is
taking several initiatives to promote awareness about physical
disabilities among people. They are organizing various programs and
camps for people with physical disabilities.
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Furthermore, the rise in medical costs has made it necessary for
people who are elderly or with disabilities to depend on medical
insurance policies. Certain personal assistance devices such as
walk-in bathtubs bath lifts, grab bars, and handheld showerheads
have costly installation charges. The presence of government
initiatives and medical insurance reduces the pricing pressure on
assistive solutions, especially for elderly and disabled people,
and thus is expected to augment the growth of the global market
during the forecast period. Our analysts have predicted that the
elderly and disabled assistive solutions market will register a
CAGR of over 8% by 2023.
Market Overview
Growing number of road accidents resulting in serious injuries
Injuries that commonly occur while playing sports, as well as those
sustained in road accidents, are the two significant factors for
the increasing use of mobility devices and BSE globally. These
injuries can result in dislocations and fatal fractures, and
patients need to undergo surgery to treat them. The rise in the
number of accidents and serious injuries will fuel the growth of
the global elderly and disabled assistive solutions market. These
devices provide comfort and care to patients with such injuries and
can help these people in performing their basic daily tasks with
relative ease and safety.
High cost of solutions
Many disabled and older adults are opting for various assistive
devices. However, the high price of these devices hinders their
full-scale adoption, especially among middle-income and
lower-income class groups. The high level of technological
innovation and the extremely concentrated market scenario allow
manufacturers to justify the premium pricing for advanced assistive
solutions for the elderly and disabled, thus restricting the growth
of the market during the forecast period.
For the detailed list of factors that will drive and challenge the
growth of the elderly and disabled assistive solutions market
during 2019-2023, view our report.
Competitive Landscape
The market appears to be moderately fragmented, and with the
presence of several companies, including Demant AS and Drive
DeVilbiss Healthcare, the competitive environment is quite intense.
Factors such as growing initiatives by governments and NGOs and the
growing number of road accidents resulting in serious injuries will
provide considerable growth opportunities to elderly and disabled
assistive solutions manufacturers. Invacare Corp., NOVA Medical
Products, and Sonova Holding AG. are some of the major companies
covered in this report.
Read the full report:
https://www.reportlinker.com/p05778675/?utm_source=PRN
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