Elder Care Services & Assistive Devices Market Size, Expansion, Merger and Pricing Analysis to 2027

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The Global Elder Care Services & Assistive Devices Market Research Report published by Emergen Research is furnished with the latest information about product specifications and portfolio, technological advancement, product type, and manufacturing. Major factors such as revenue, costs, and gross margin are taken into consideration while formulating this report. The report provides extensive data concerning the key market players along with their SWOT analysis, financial standing, technological and product development, and recent strategic business expansion plans.

The Global Elder Care Services & Assistive Devices Market is projected to be valued at USD 1,020.00 Billion by 2027, according to a current analysis by Emergen Research. Elderly care services and assistive devices are witnessing high demand, which can be attributed to growing elderly population. The number of individuals aged 65 years or above worldwide is estimated to grow from about 524 million in 2010 to around 1.5 billion by 2050 and developing countries would account for a majority of this increase in elderly population. A significant rise in life expectancy is leading to growth of geriatric population. This, in turn, would propel the elder care services & assistive devices market during the forecast period.

Issues with mobility, hearing, and vision may pose serious peril to elders if left unattended. Usage of technologies is considered to be of immense importance in elderly care, for instance, emergency response service (ERS) equipped with global positioning system (GPS) is beneficial in tracking the location of elders and fetching assistance at the earliest, in case of emergency. According to a survey, about 68.0% of elders find technology to be beneficial in health improvement, while 61.0% seek implementation of new technologies for their care. This factor drives the demand for elder care services and assistive devices.

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Prominent Players Analyzed in the Report: Invacare Corporation, Ai Squared, Siemens Healthineers, Sonova Holding AG, Cochlear Limited, Brookdale Senior Living, Extendicare Inc., Genesis HealthCare, Pride Mobility Products Corporation, and GN Resound Group

Key Highlights of Report

In December 2020, Genesis HealthCare made an announcement about purchase of Sun Healthcare Group Inc., a firm involved in providing elder care services. SunBridge Healthcare, LLC, a subsidiary of Sun Healthcare Group Inc., manages nursing facilities, behavioral health centers, and assisted and independent living centers in 23 states of the US.
Approximately USD 170.00 Billion are spent on end-of-life care every year. Better planning can decrease these costs and enhance satisfaction by providing customized care as per the patient’s preference.
Day programs are meant for providing activity centers and monitoring services for elders. Such programs benefit from the growing inclination among elders toward staying in homes for a longer duration. Presently, about 4,000 day program centers are run in the U.S., which can cater to over 15,000 elders.
The North America region held the largest share of the global elder care services & assistive devices market in 2019, due to growing elderly population, increasing demand for assistive devices for elderly care, rapid adoption of innovative technologies, and growing emphasis on safety of geriatric patients by governments of countries in the region.

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Emergen Research has segmented the global elder care services & assistive devices market in terms of offering, end-user, and region:

Offering Outlook (Revenue, USD Billion; 2017–2027)

Services

Home Healthcare
Adult Day Services
Institutional Care

Assisted Devices

Mobile Assistance Devices

Wheelchairs
Mobility Scooters
Others

Living Aids

Hearing Aids
Vision & Speech Aids

Assistive Furniture

Assistive Beds
Door Openers
Riser Reclining Chairs
Others

Bathroom Safety Equipment

Shower Rooms
Commode Chairs
Ostomy Devices
Bars, Grips & Rails

Others

End-user Outlook (Revenue, USD Billion; 2017–2027)

Hospitals
Homecare Settings
Nursing Homes
Rehabilitation Centers
Others

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Regional Outlook (Revenue, USD Billion; 2017–2027)

North America

U.S.
Canada
Mexico

Europe

Germany
U.K.
France
BENELUX
Rest of Europe

Asia Pacific

China
Japan
South Korea
Rest of APAC

Latin America

Brazil
Rest of LATAM

Middle East & Africa

Saudi Arabia
UAE
Rest of MEA

Overview of the Elder Care Services & Assistive Devices Market Report:

Introduction, Product Scope, Market Overview, and Opportunities
Analysis of the Manufacturers with sales, revenue, and price analysis
Comprehensive analysis of the competitive landscape
Extensive profiling of the key competitors along with their business strategies and market size
Regional analysis of the market along with sales, revenue, market share, and global position
Country-wise analysis of the market along with types, applications, and manufacturing
Strategic recommendations to established players as well as new entrants
In-depth analysis of the risks, restraints, and limitations in the Elder Care Services & Assistive Devices industry

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About Emergen Research

At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.

With market-leading insights and an in-depth understanding of leading and niche technologies, our solutions address the most pertinent questions for your business needs. A major technological shift has been witnessed towards creating a 'Circular Economy,' fuelled by factors, such as the increased adoption of bio-based materials, along with other methods for achieving carbon neutrality. We are conversant in technologies, viz., Artificial Intelligence (AI), Augmented Reality (AR), Virtual Reality (VR), Robotic Process Automation (RPA), Smart Manufacturing, Internet of Things (IoT), Big Data Analytics, Machine learning, Nanotechnology, Edge Computing, Blockchain Technology, Cloud Computing, Vehicle Electrification, Advanced Maintenance Analytics, and Predictive Maintenance, among other prevalent and emergent technologies.

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