According to the U.S. Census Bureau's publication "An Ageing World: 2015," the proportion of adults 65 and over in the worldwide population is predicted to rise from 8.5% in 2015 to 12% in 2030. The two main regions where a fast ageing population is anticipated are Asia and Latin America. According to market analysis, there is a substantial market opportunity for assistive devices for the elderly and crippled, particularly in Asia and Latin America.
The market for Elderly and Disabled Assistive Devices was valued at US$ 16,141.4 million in 2018 and is anticipated to grow at a CAGR of 7.7% from 2019 to 2027.
Major Players in the Elderly and Disabled Assistive Devices Industry:
Sunrise Medical LLC: Created in 1983. German headquarters are in Malsch. Manufacturer of wheelchairs for people who have trouble walking. Customers may live a normal life because to the company's expertise in the creation, design, manufacture, and distribution of wheelchairs, scooters, and seating and positioning solutions. Sunrise Medical, a global leader in cutting-edge assistive mobility solutions, is happy to announce that two key acquisitions in Europe have been finalised in 2022.
GN: A Danish company called GN Store Nord provides audio and medical solutions. The group consists of the audio and hearing industries. WS Audiology (formerly Sivantos and Widex) and Sonova, Demant, Starkey, and GN Hearing are major competitors in the hearing aid market. In addition to offering headsets and speakerphones to the consumer sector, GN Audio also serves the business market (contact centres and offices) and recently purchased SteelSeries in the gaming industry. The business has established itself as one of the leading players in the market for headsets with unified communications capabilities. Resound in hearing aids and Jabra in headsets are the company's premium brands. Danish headquarters are at Ballerup. Built in 1868.
ReSound Group: Creator, producer, and distributor of hearing aids for the hard of hearing. The company's products can be digitally programmed to suit specific requirements. The business employs Cochlea Dynamic, a technology that enables items to function like biological systems. Established in 1943. Danish headquarters are at Ballerup.
Sonova Holding AG: One of the biggest producers and suppliers of hearing aids worldwide is Sonova. The company is situated in Switzerland and distributes its goods through both independent shops and its internal sales force to more than 100 countries. Through its advanced bionics subsidiary, it also offers cochlear implants for sale, and it recently bought Sennheiser's consumer business to diversify into the audio technology market. Created in 1947. The HYSOUND Group was successfully acquired by Sonova Holding AG, a top provider of hearing care solutions, as originally announced on August 19, 2022.
Starkey Hearing Technologies: Established in 1967. United States headquarters. Producer of hearing instruments. The business provides cutting-edge goods and engages in the design, development, and sale of comprehensive digital hearing solutions.
William Demant Holding A/S: Built in 1904. Headquarters in Denmark's Smorum. Demant is a manufacturer and distributor of hearing aids and other audio diagnostic tools with headquarters in Denmark. The company's North American and European markets account for more than 80% of its sales. Recent purchases include ShengWang (Jun 2022) and Audika (Feb 2015).
Definition: Assistive devices are external devices that are designed, made, or adapted to assist a person to perform a particular task.
