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Rapid Advances in Assistive Technology Paving the Way for Assistive Device Manufacturers: Fact.MR Predictions

FACT.MR

Growing improvements in healthcare facilities, increasing partnerships between insurers and healthcare providers, and growing consumer awareness of assistive furniture are the major factors expected to boost market revenue in the coming years.

ROCKVILLE, Md., USA, Aug. 9, 2022 (GLOBE NEWSWIRE) — According to an in-depth study by market research and competitive intelligence provider Fact.MR, Global welfare equipment market is expected to reach a valuation of USD 5.5 billion by 2026, rising at a CAGR of 6% over the forecast period (2022-2026).

Assistive devices include all resources available to people who are physically unable to support themselves. These tools are very helpful for people with disabilities to move around, read, listen and perform other daily tasks, increasing the demand for these products and accelerating the expansion of the market. increase.

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As disabled people require assistance with a variety of tools and devices to perform all the tasks necessary for their daily lives, these devices provide both the elderly and the disabled with a peaceful and simple experience. It helps you to live an independent life. The increasing number of people with disabilities is a factor in the market for assistive furniture. Changing lifestyles, accessibility of assistive devices for the disabled and elderly, and growing demand for assistive technology are the major reasons driving the market growth significantly.

Healthcare systems around the world are under pressure due to an aging population. Home care is actively used as an alternative to long-term hospitalization. Technological advances are enabling assistive devices to connect to healthcare networks, facilitating the shift to home healthcare.

What is driving the growth of the US assistive devices market?

“Increase in research and development expenses for the production of high-end auxiliary furniture”

The expansion of the market in the United States is driven by the increasing number of people with disabilities, the presence of important manufacturers, and increasing R&D spending for the production of high-end ancillary furniture.

The market is growing as a result of increased use of advanced assistive technology and rapid consolidation of healthcare facilities. Strong government action to upgrade medical facilities through insurance programs is projected to create profitable growth prospects in the country.

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Major segments covered by Welfare equipment industry research

  • By type:

    • bed

    • riser recliner

    • railings and bars

    • door opener

  • By Region :

    • North America

    • Europe

    • Asia Pacific

    • latin america

    • Middle East and Africa

competitive environment

To gain a competitive edge and increase market share, manufacturers of assistive devices are investing heavily in value-added services. Market players are also engaging in various development methods such as product launches, collaborations, joint ventures, and mergers.

  • The Right Place created a cloud-based platform to manage available beds and use real-time data to expedite referral selection. The software assists in patient placement and provides analytical data on occupancy, referrals, average stay time, and more.

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key player in Welfare equipment market

  • GN ReSound Group

  • Liberator Co., Ltd.

  • Siemens K.K.

  • blue chip medical products

  • Inbacare Co., Ltd.

  • Drive Devilbiss Healthcare

  • Inclusive Technology Co., Ltd.

  • Medline Industries, LP.

  • Permobil

important point Welfare equipment Market research

  • The global assistive technology market is projected to reach US$5.5 billion by 2026.

  • Demand for riser recliners is expected to grow at a CAGR of 5.2% from 2022 to 2026.

  • The German market is projected to grow at a CAGR of 5.5% until 2026.

  • The Japanese market is expected to grow at a CAGR of 5% during the forecast period.

Read the article on Fact.MR Health care domain-

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