Assistive Technology Market, By Product Type (Mobility Devices, Hearing Aids, Vision and Reading Aids, Communication Devices, Daily Living Aids, Prosthetics and Orthotics, Assistive Software and Apps, Others), By Disability Type (Mobility Impairment, Hearing Impairment, Visual Impairment, Speech and Language Impairment, Cognitive Impairment, Others), By Age Group (Children, Adults, and Elderly), By End User (Hospital, Homecare Settings and Others), By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)

Published In : Dec 2023

Code : CMI5911

Pages :150

Formats :

Excel and PDF

Industry : Medical Devices

Assistive Technology MarketSize and Trends

Global assistive technology market size was valued at US$ 22.98 Bn in 2023 and is estimated to reach US$ 32.25 Bn by 2030, exhibiting a compounded annual growth rate (CAGR) of 4.7% during the forecast period. The growth of the market can be attributed to the increasing prevalence of disabilities, rising geriatric population, and technological advancements in assistive technology devices.

The market is segmented into product type, disability type, age group, end user, and region. By product type, the market is segmented into mobility impairment devices, visual impairment devices, hearing impairment devices, and other product types. The mobility impairment devices segment is projected to account for the largest market share during the forecast period. This is due to the increasing prevalence of chronic diseases such as arthritis, stroke, and spinal cord injury, which lead to mobility impairments.

Global Assistive Technology Market Trends

Integration of AI and machine learning: Artificial intelligence (AI) and machine learning (ML) technologies are increasingly being integrated into assistive technology solutions. AI algorithms enable advanced functionalities such as voice recognition, natural language processing, and predictive modeling, enhancing the effectiveness and adaptability of AT devices. ML algorithms also facilitate personalized user experiences by learning from user interactions and preferences.
Internet of Things (IoT) integration: The Internet of Things (IoT) is playing a pivotal role in the evolution of assistive technology. IoT devices and sensors can connect and communicate with AT solutions, thus creating smart environments that provide real-time monitoring, data analysis, and automation. This integration enables seamless interaction between AT devices, wearable’s, and home automation systems, thus enhancing accessibility and independent living.
Wearable technology advancements: Wearable devices are becoming increasingly sophisticated and offer new opportunities for assistive technology. Wearable AT solutions such as smart glasses, smart watches, and body sensors provide real-time feedback, monitoring, and assistance. These devices can assist individuals with visual impairments, hearing impairments, mobility challenges, and cognitive disabilities, enabling greater independence and functionality.
Focus on user-centered design: There is a growing emphasis on user-centered design in the development of assistive technology. Manufacturers and developers are actively involving individuals with disabilities in the design process to ensure that AT solutions meet their specific needs and preferences. This trend promotes inclusivity, accessibility, and usability, thus resulting in more intuitive and user-friendly AT products.