The elderly and disabled assistive devices market was projected to be worth about USD 12 billion in 2012. It is estimated to rise through the predicted period of 2013 to 2019. The market is likely to reach about USD 20 billion in 2019 and increase at about 7 percent CAGR.
Instruments that help the population of the old and disabled in their daily activities are referred to as elderly and disabled assistive devices. Some of these devices are complicated whereas the others are simple in design. Cranes, wheelchairs, hearing aids and scooters are some of the examples of these devices.
The elderly and disabled assistive devices market is expanding. This is owing to the government’s growing proposals and support for these devices in making them accessible to clients. However, high expenses involved in the purchase of these devices may prove to be hindrances in the development of the elderly and disabled assistive devices market.