The sensory support sector will generate the most revenue in the assistive technology market, due to the increase in bilateral hearing loss and an increase in geriatric population. In terms of geography, North America it will bring great opportunities to market vendors due to factors such as the growth of advanced healthcare facilities, increase in health care spending, and the presence of government agencies such as Medicaid, which provides medical support to people on limited incomes and financial resources.
Assistive Technology Market: Key drivers of growth
The following factors are expected to drive market growth over the forecast period:
- Increase in the number of orthopedic and neurological disorders
- Demand is growing for rehabilitation centers
- Growing focus on complying with industry standards
In addition, the report highlights how an increase in hearing aid with rechargeable batteries is a key trend in the assistive technology market. Rechargeable batteries made of Lithium-ion and zinc offer better power compared to traditional rechargeable batteries. They are toxic and non-flammable and can give life to hearing aid devices. In addition, a number of market vendors are focusing on the development of consumer-friendly and environmentally friendly zinc-rechargeable batteries.
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Assistive Technology Market: Key Retailer Contributions
Demant AS: The company is engaged in the development, manufacture, and sale of products and equipment that help people with hearing loss connect and communicate with others. Some of the hearing aid devices that the company offers are Oticon, Bernafon, and Sonic.
DeVilbiss Drive Healthcare: The company manufactures and offers electric patient lifts such as Samsoft 175 V2 Lifter.
GF Inc health products Inc .: The company offers a wide range of assistive technology products such as folding walkers, non-folding walkers, healthcare seats.
GN Nord AS Store: The company is engaged in the development, manufacture, and sale of innovative audio equipment worldwide.
Corp. Invacare .: The company is engaged in the development, manufacture, and sale of power transmission products such as Invacare TDXSP2 by LiNX Technology.
Reasons to buy assistive technology market report:
- CAGR of the market in the projected period 2021-2025
- Detailed information on factors that will help the growth of assistive technology market in the next five years
- Measurement of the size of the assistive technology market and its contribution to the parent market
- Predict future trends and changes in consumer behavior
- The growth of the technology market is helpful across North America, Europe, Asia, and ROW
- Analysis of the competitive market landscape and detailed information on vendors
- Complete details of factors that challenge the growth of assistive technology market vendors
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