Assistive Technology Market Size Expected to Hit US$ 32.25 Billion by 2031 with a 5% CAGR – Coherent Market Insights

The Assistive Technology Market is estimated to be valued at US$ 22.98 Bn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Key Market Dynamics:

Increasing adoption of assistive robots owing to their various capabilities such as navigation, object identification and manipulation, is expected to drive the growth of the assistive technology market over the forecast period. Assistive robots are gaining popularity across various end use sectors such as healthcare, manufacturing and education among others. For instance, assistive robots find extensive usage in rehabilitation centers for assisting patients with physical disabilities.

Key Market Trends:

Growing usage of assistive technology in healthcare: Assistive technologies are increasingly being used in the healthcare sector to provide independent and dignified living assistance to elderly population and disabled individuals. Devices such as smart wheelchairs, prosthetics, assistive listening devices and medical bed alarms among others help patients to live self-reliant lives and reduce caregiver burden.

Rising demand for assistive wearables: Demand for wearable assistive devices is growing owing to portability and ease of usage features. Products such as wearable robots, intelligent fabrics and smart limb attachments are gaining popularity as they help users perform tasks and daily activities in a seamless manner without requiring extensive external support.

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Assistive Technology Market Opportunities

By Product Type Insights

The assistive technology market is anticipated to witness significant growth in mobility equipment segment during the forecast period. Mobility equipment helps the disabled community to move independently without relying on other individuals. Technological advancements such as smart wheelchairs are further driving the demand for mobility equipment.

By Disability Insights

The visually impaired segment is expected to hold a major share in the assistive technology market owing to the increasing cases of visual disabilities worldwide. Assistive technologies such as screen readers, magnifiers and braille displays help the visually challenged community to carry out their day to day tasks easily.

Key Market Takeaways

The global assistive technology market size was valued at USD 22.98 Bn in 2024 and is anticipated to witness a CAGR of 4.7% during the forecast period 2024-2031. Factors such as rising cases of disabilities, increased acceptance of assistive devices and technological advancements are expected to fuel the market growth.

On the basis of product type, mobility equipment segment is expected to dominate the market, accounting for over 30% of the market share. This is attributed to the growing demand for smart wheelchairs and other mobility gadgets to assist the disabled population.

Based on disability, visually impaired segment holds a major market share of around 35% in 2024. Increasing eye disorders such as glaucoma, age-related macular degeneration and cataract especially in the elderly population is driving the demand for assistive technologies for visual impairment.

Regionally, North America dominated the assistive technology market with more than 35% share in 2024 owing to accessibility of advanced technologies and supportive government reimbursement policies in countries like United States and Canada.

Competitor Insights:

Ai Media

Tobi AB

Phonak AG

Recent Developments in Assistive Technology Market

Advances in Mobility Devices

Mobility assistive devices help people with physical impairments move independently. Major wheelchair manufacturers have incorporated new ergonomic designs, lightweight materials, and advanced propulsion systems to improve user comfort and functionality. For instance, products such as the Cseries collapsible wheelchair from Invacare offer easy portability and storage. Companies are also exploring advanced robotics to create intelligent wheelchairs that can navigate complex indoor and outdoor terrains autonomously.

Advances in Sensor Technology

Recent advancements in miniaturized sensor technologies are enabling assistive devices to become highly integrated and multifunctional. Assistive technologies are increasingly incorporating sophisticated sensor modules for environmental monitoring, activity tracking, physiologic monitoring and more.

For instance, wearable sensor patches and fabric-based sensors are powering assistive exoskeletons, prosthetics and rehabilitation devices with real-time motion tracking, fall detection and activity monitoring. Advances in areas like biometric sensors, environmental sensors, motion sensors, pressure sensors and wearable biosensors are augmenting assistive devices with comprehensive health and wellness monitoring abilities.

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About Coherent Market Insights

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.