As per the World Health Organization (WHO) statistics, more than one billion people require one or more medical assistive products across the globe. There has been a rise in the number of differently abled people, along with an increase in the aging population and chronic health conditions, which have accelerated the rate of adoption of medical assistive devices.  According to the market intelligence report by BIS Healthcare titled, ‘Global Medical Assistive Technologies Market- Analysis and Forecast (2017-2025)’, the market is expected to grow over $24.41 billion by the year 2025. This tremendous growth is attributed to the advancement in the field of medical assistive technologies, injury rate, and rising demands of technologically advanced assistive devices.

Medical assistive devices aid the elderly and differently abled people in their various day to day activities such as movement, listening, and reading. Devices such as wheelchairs, cranes, crutches, and scooters are simple in design while hearing aids, reading machines, and transfer lifts are complex. Assistive devices are extensively used in the developed countries, however, in the low-income and middle-income countries, only 5-15% of the total population has access to these devices. It is estimated that more than 2 billion people will need at least one assistive product by 2050, while the geriatric section of this population would require two or more devices.

Over the past few years, advancements in the medical assistive technology have played a significant role in the market for medical devices. For instance, the introduction of powered wheelchair has eased the life of the patients by reducing the time as well as the energy that was invested in the manual operation. Further, the cochlear implants have also reduced the need for external hearing aid. Owing to such technological advancements, the medical assistive devices are gaining momentum, globally. Also, the market is growing significantly due to transition from traditional to next-generation medical assistive devices. Various countries’ government and prominent industry players are putting in substantial efforts in promoting the adoption of medical assistive devices.

Based on product type, the market for medical assistive devices is segmented into hearing aids & devices, mobility assistance aids, and vision & speech aids. The hearing aids & devices segment dominated the market in the year 2016 and is expected to continue its dominance during the forecast period. This can be attributed to a large number of people suffering from hearing impairments and the development of technologically advanced products such as bone anchored systems (BAHA) and cochlear implants. However, mobile assistance aid is expected to witness the highest growth rate among others, registering a CAGR of 6.1% during 2017-2025.

BIS Healthcare has conducted an extensive research on the global medical assistive technologies market and compiled the observation and insight in this report. The market intelligence report aims at providing an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which include drivers, restraints, and opportunities prevailing in the industry.

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