DUBLIN, April 5, 2018 /PRNewswire/ --
The "Global Medical Assistive Technologies Market - Focus on Product, End-User, Countries, Patents, Market Share, and Competitive Landscape - Analysis and Forecast (2017-2025)" report has been added to ResearchAndMarkets.com's offering.
As per the World Health Organization (WHO) statistics, globally more than one billion people require one or more assistive products. With the aging global population and rise in the non-communicable diseases, it is estimated that more than two billion people will need at least one assistive product by 2050, with several older people needing two or more.
Moreover, an estimated 285 million people are visually impaired worldwide. Around 70 million people need a wheelchair, and another 360 million people globally, have moderate to profound hearing loss. The rates of disability are increasing due to aging population and increase in chronic health conditions, which increases the adoption rate of medical assistive technologies.
The devices that assist the elderly, and disabled people in their day-to-day activities such as, movement, listening and reading are termed as medical assistive technology devices. The assistive technology is an umbrella term covering the systems and services related to the delivery of assistive products and services. These technologies maintain or improve an individual's independent functioning and thereby promoting their overall well-being. 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 the design complexity.
Moreover, the increase in the number of manufacturers investing in the R&D activities of these technologies further increases the growth of the market. The rise in the technological advancements has significantly revolutionized the medical assistive technologies. The introduction of powered wheelchairs in the market has eased the life of the patients by reducing the time and energy required in its manual operation. Furthermore, the Cochlear implants have also reduced the need for externally wearing the hearing aids. These technologically advanced products are gaining acceptance among the end-users, and hence, demand for the same is increasing.
The assistive devices and technologies defined by the World Health Organization (WHO) comprises prosthetics, mobility aids, hearing aids, visual aids and specialized computer software. These technologies are of immense help to the people with special needs, for instance, to the people with physical challenges, for living a self-dependent, and dignified life, ensuring a regular, active and healthy social interaction.
Disability, which is a complex and multi-dimensional term refers to impairments, limitations on the activity, and restrictions on the participation which is a combination of medical, and contextual factors. There prevail diversified facets among the people with medical impairment i.e., some are born with a disabling condition, others acquire a disability through injury or a chronic disease, while others develop a disability at an older age. However, the health needs for disabled people also vary depending on the type of limitation, and the primary health conditions in which some require high healthcare needs while others do not.
The way disability is addressed has shifted from purely medical approach to one that focuses on maximum functioning and well-being. The medical assistive technologies now cover sophisticated information & communications technology (ICT), software, cyber-physical and stem cell applications, neuroprosthetics, humanoid robots and applications (apps).
The assistive devices can help individuals with disabilities to achieve greater independent lifestyles. The devices have been commonly used in the developed countries to help individuals with disabilities to overcome the obstacles when seeking medical treatment, pursuing education, obtaining employment or caring for families, and obtaining equal opportunities to participate in the society. However, in several low-income and middle-income countries, only 5%-15% of people who need the medical assistive devices and technologies have actually access to them.
The product segment of the market comprises of hearing aids & devices (behind the ear aids, receiver in the ear aids, in the ear hearing aids, cochlear implants, and bone anchored systems, among others), mobility assistance aids (manual wheelchair, electric wheelchair, and mobility scooters, among others) and vision & speech aids. The hearing aids & devices segment constituted the highest market value in 2016, growing at the CAGR of 4.8% during the forecast period 2017-2025.
The growth can be attributed to the large number of people suffering from hearing impairments globally, and the introduction of technologically advanced products such as, cochlear implants, and bone anchored systems (BAHA). However, mobile assistance aid is expected to grow at the highest CAGR of 6.1% during the forecast period 2017-2025. It can be attributed to the rising geriatric population and increasing government support in the form of grants and subsidies for the purchase of mobility devices.
The end user segment for the mobility assistance aids include hospitals, homecare and rehabilitation centers, and elderly nursing homes. The hospital acquired the highest market value in 2016 and is anticipated to reach $3.03 billion by 2025. This can be attributed to the growing geriatric population, rising disability rate and widespread adoption of mobile assistive aids in the hospitals in order to meet the growing demand of technologically advanced assistive devices among the patients for improved and independent lifestyles.
The end user segment for hearing aids & devices include hospitals, homecare, clinics & physician offices, and diagnostic centers, among others. The hospitals acquired the highest market value of in 2016, growing at the CAGR of 4.0% during the forecast period 2017-2025. This can be attributed to the growing adoption rate of hearing aids among the hospitals to provide hearing assistance and therapies to the hearing-impaired people, and active participation of the government and industry players for the technological advancement of the hearing devices such as, cochlear implant and BAHA with 360 degrees sound coverage and wireless technologies.
The end user segment for vision & speech aid include hospitals, homecare, clinics & physician offices and rehab, & elderly nursing homes, among others. The hospitals acquired the highest market value in 2016 and is anticipated to reach $1.16 billion by 2025. This can be attributed to the rising incidence rate of visually & speech impaired population, adoption rate of vision aids such as, braille translators and video magnifiers among the hospitals for providing hearing assistance and therapies to the visually impaired people, and encouragement and funding provided by various national governmental bodies.
Europe generated the highest market value of $5.23 billion in 2016. This can be attributed to the rising incidence of various types of acute diseases & disabilities, growing geriatric population, technological advancement in the medical assistive devices, increasing disposable income and support of the government in enhancing the healthcare facilities, and providing reimbursement policies for the end-users.
However, RoW, comprising of the Kingdom of Saudi Arabia (KSA), Russia, Israel, and the U.A.E among others, is expected to grow at the highest CAGR of 7.2% during the forecast period 2017-2025, followed by Latin America, owing to the rising incidence rate of chronic diseases, increasing disposable income, and growing awareness of technologically advanced assistive devices, and improvement of the quality of life with their regular usage, among people.
Key Topics Covered:
Executive Summary
1 Market Overview
1.1 Introduction & Market Trend
1.2 Target Market for Assistive Technologies
1.3 Advantages & Disadvantages of Medical Assistive Technologies
2 Market Dynamics
2.1 Overview
2.2 Impact Analysis of Market Drivers & Restraints
2.3 Market Drivers
2.4 Market Restraints
2.5 Market Opportunities
3 Competitive Landscape
3.1 Key Development and Strategies
3.1.1 New Product Launches and Developments
3.1.2 Mergers & Acquisitions
3.1.3 Collaborations, Joint Ventures and Partnerships
3.1.4 Business Contracts & Fundings
3.1.5 Others
3.2 Industry Attractiveness
3.3 Market Share Analysis
4 Industry Analysis
4.1 Patent Landscape
4.2 Consortiums, Associations, and Regulatory Bodies
4.3 Legal Requirements and Regulations
5 Global Medical Assistive Technologies Market, by Product
5.1 Overview
5.2 Mobile Assistance Aids
5.2.1 Manual Wheelchair
5.2.2 Mobility Scooters
5.2.3 Mobility Scooters
5.2.4 Others
5.2.5 Mobility Aid Medical Assistive Technologies Market, by Region
5.3 Hearing Assistance Aids
5.3.1 Behind the Ear (BTE) Aids
5.3.2 Receiver in the Ear (RITE) Aids
5.3.3 In the Ear (ITE) Hearing Aids
5.3.4 Cochlear Implants
5.3.5 Bone anchored Systems
5.3.6 OTC Amplifiers
5.3.7 Other Aids
5.3.8 Diagnostic Instruments
5.3.9 Hearing Aid Medical Assistive Technologies Market, by Region
5.4 Vision & Speech Assistance Aids
6 Global Medical Assistive Technologies Market, by End User
6.1 Overview
6.2 Hospitals
6.3 Home Care Settings
6.4 Elderly Nursing Homes
6.5 Others (Rehablitation Center, etc.)
7 Global Medical Assistive Technologies Market, by Region
8 Company Profiled
- Access Ingenuity
- Cochlear Ltd.
- Drive Medical GmbH
- Eargo Inc.
- Esko Bionics Holdings Inc.
- Exact Dynamics BV
- GN ReSound Group
- Invacare Corporation
- iWalkFree Inc.
- Karma Mobility Ltd.
- Liberating Technologies Inc.
- Med-El
- Medtronic
- OttoBock Healthcare GmbH
- Permobil AB
- Scoozy BV
- Siemens
- Siemens Healthineers
- Sivantos Pte. Ltd.
- Sonova Holding AG
- Starkey Hearing Technologies
- Sunrise Medical LLC
- Tobii Dynavox LLC
- VFO
- Whill Inc.
- Widex A/S
- William Demant Holding A/S
For more information about this report visit https://www.researchandmarkets.com/research/3m8744/global_medical?w=5
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