Assistive technology is an umbrella term that includes assistive, adaptive, and rehabilitative devices for people with disabilities while also including the process used in selecting, locating, and using them. The term “vulnerable groups” is usually synonymous with “groups at risk”. Vulnerable groups often include elderly person, persons with disabilities and others.
The Assistive Devices for Vulnerable Groups industry was 16480million USD in 2017 and is projected to reach USD 29114 million USD by 2025, at a CAGR (Compounded Annual Growth Rate) of 7.37% between 2017 and 2025. The market is driven by increased global ageing and improved medical care in developing countries.
The industry is concentration, the key brand include Sonova Holding, William Demant, Invacare, Ottobock, Starkey, GN ReSound, Sivantos, Cochlear, Widex, Sunrise Medical, Permobil Corp, MED-Eland Pride Mobility. Among them, Sonova Holding, William Demant and Invacare are the leaders.
On the basis of product, the Assistive Devices for Vulnerable Groups market is primarily split into Hearing Aids, Medical Mobility Aids & Ambulatory Devices, Vision & Reading Aids and Medical Furniture & Bathroom Safety Products. Now Hearing Aids and Medical Mobility Aids & Ambulatory Devices is the major product.
The leading companies own the advantages on better performance, more abundant product’s types, better technical and impeccable after-sales service. Consequently, they take the majority of the market share of high-end market. Looking to the future years, the slow downward price trend in recent years will maintain. As competition intensifies, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.
The industry is expected to remain innovation-led, with frequent acquisitions and strategic alliances adopted as the key strategies by the players to increase their industry presence. Market stays in mature period with a clear concentration. Meanwhile, optimize product mix and further develop value-added capabilities to maximize margins.
The Global Assistive Devices for Vulnerable Groups Market Research Report 2018 report released by QYResearch provides a basic overview of the Assistive Devices for Vulnerable Groups industry, including definition, classification, application and industrial chain structure. Discuss development policies and plans as well as manufacturing processes and cost structures.
The report then focuses on major industry players in Global, including company profiles, product images and specifications, sales, market share, and contact information. More importantly, the Assistive Devices for Vulnerable Groups industry development trends and marketing channels were analyzed. Providing the main statistical data on the current status of the industry is a valuable guide and direction for companies and individuals interested in the market.
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