Dublin, Aug. 21, 2023 (GLOBE NEWSWIRE) -- The Global Elderly Care Devices Market Outlook to 2028report has been added to ResearchAndMarkets.com's offering.
Anticipated to flourish between 2024 and 2028, the global elderly care devices market is witnessing impressive growth owing to a constellation of factors. These encompass a widespread prevalence of musculoskeletal conditions, fueled by ailments like osteoarthritis, rheumatoid arthritis, and osteoporosis.
Technological advancements have catalyzed this surge, fostering the development of innovative solutions. These devices are pivotal in enhancing healthcare management and quality of life for senior citizens. With increasing healthcare expenditure, awareness regarding geriatric care devices, and escalating research investments, the market is poised for substantial expansion.
Addressing Growing Ailments and Aging Population
Elderly care devices are paramount in managing and preventing a spectrum of chronic diseases including diabetes, cancer, and osteoporosis. These devices empower the elderly to lead independent lives, particularly in the face of declining agility. With the elderly population being more susceptible to injuries and falls, the demand for such devices is on the rise. This is underscored by the NCD Alliance's revelation that over a third of Europe's population aged 15 and above suffer from chronic diseases, with two out of three individuals above 60 afflicted with at least two chronic conditions.
Investments and Initiatives Spur Market Momentum
Investments by stakeholders are playing a pivotal role in meeting the escalating demand for elderly care devices. These investments are channeled towards emerging startups aiming to cater to the aging population. A prime example is the UK-based elderly care tech platform Birdie, which secured a USD 11.5 million Series A led by Index in 2021. These endeavors aim to provide personalized, preventative care to ensure seniors' longer, happier, and healthier lives at home.
Evolving Demographics Drive Demand
As the proportion of elderly individuals aged 60 and above increases globally, the elderly care devices market is witnessing an uptick. This aging population is prone to various health issues, such as neurological, cardiovascular, and orthopedic conditions, prompting the demand for specialized devices. Europe, with a substantial aging population at 19%, and Italy leading with a 23.5% share, exemplifies this trend.
Innovations Pave the Way
Innovations in elderly care devices are shaping the market's trajectory. For instance, the SARA (Social & Autonomous Robotic Health Assistant) robotic system is revolutionizing elderly care in healthcare settings, improving both care quality and residents' lives. Essence Group's UK-specific telecare solution, launched in 2020, exemplifies the fusion of technology and care, catering to unique needs.
Market Segmentation
The global elderly care devices market is categorized by product, end-user, and company. Product segments span mobility assistance aids, assistive furniture, bathroom safety & assistive products, and communication aids. Notable among these are mobility scooters, medical beds, hearing aids, and vision & reading aids. Hospitals, elderly nursing homes, assistive living facilities, homecare, and more constitute the end-user landscape.
Key Topics Covered
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Global Elderly Care Devices Market
5. Voice of Customer
6. Global Elderly Care Devices Market Outlook
7. North America Elderly Care Devices Market Outlook
8. Europe Elderly Care Devices Market Outlook
9. Asia-Pacific Elderly Care Devices Market Outlook
10. South America Elderly Care Devices Market Outlook
11. Middle East and Africa Elderly Care Devices Market Outlook
12. Market Dynamics
13. Market Trends & Developments
14. Global Elderly Care Devices Market: SWOT Analysis
15. Porter's Five Forces Analysis
16. Competitive Landscape
17. Strategic Recommendations
A selection of companies mentioned in this report includes:
- Sonova Holding AG
- William Demant Holding A/S
- GN Resound Group
- Koninklijke Philips N.V.
- Medtronic PLC
- OttoBock Healthcare GmbH
- Investor AB (Permobil AB)
- Stryker Corporation
- Invacare Corporation
- Getinge AB (Arjo)
- Medical Depot, Inc.
- Prism Medical UK
- Etac AB
- Handicare Group AB
- Bischoff & Bischoff GmbH
For more information about this report visit https://www.researchandmarkets.com/r/h4qjbt
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