India Disabled & Elderly Assistive Device Market is expected to reach USD 904.60 million by 2030

The growing aging population and government support are driving up demand for the India Disabled & Elderly Assistive Device market during the forecast period

India Disabled & Elderly Assistive Device Market was valued at USD 613.65 million in 2023, and is predicted to reach USD 904.60 million by 2030, with a CAGR of 5.52% from 2024 to 2030, according to new research by Next Move Strategy Consulting.

The aging population in India stands as a crucial driver for the Disabled and Elderly Assistive Device Market. As the country experiences a demographic shift with an increasing proportion of elderly individuals, there is a corresponding rise in age-related disabilities and health conditions. This demographic trend fuels a growing demand for assistive devices that cater to the unique needs of the elderly population. Mobility challenges, sensory impairments, and other health issues become more prevalent with age, creating a market niche for products such as walking aids, hearing aids, and mobility scooters.

Government initiatives are the main reason why the assistive device industry for the disabled and elderly in India is growing. The Indian government has a number of policies and incentives in place to make assistive devices more accessible and affordable for those who need them. One of the main ways it does this is by giving subsidies and financial support to people with disabilities and the elderly, so it's easier for them to get these important devices. These subsidies make the devices more affordable, so more people can benefit from them.

The Indian government also has schemes and programs to give assistive devices to people who need them, especially people from poor backgrounds. These programs make sure that people in underserved communities have access to essential assistive devices. This shows that the government is committed to making sure that everyone has access to the assistive devices they need.

However, the prohibitive cost of assistive devices in India often renders them inaccessible to a large segment of the population, particularly those residing in developing and underdeveloped regions with limited financial means. This lack of access creates a substantial obstacle for a significant portion of the population, hindering their ability to reap the benefits of these transformative tools. Furthermore, the widespread lack of awareness regarding the availability and advantages of assistive technologies among individuals, caregivers, and even healthcare professionals contribute to their underutilization.

On the contrary, India's assistive technology landscape is undergoing a remarkable transformation, driven by advancements in artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT). These cutting-edge technologies are empowering assistive devices to become increasingly personalized, accessible, and productive, enabling individuals with disabilities to lead more independent and fulfilling lives.

AI and ML are enabling assistive devices to be tailored to individual needs and preferences, providing a level of customization that was previously unattainable. For instance, AI-powered hearing aids can adjust their settings based on the wearer's environment, while ML-driven communication apps can anticipate user input and provide seamless interactions.

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According to the report, leading players in the India Disabled & Elderly Assistive Device market include Invacare Corporation, Sunrise Medical LLC, Bausch & Lomb, Inc., Permobil AB, Siemens Healthcare, Freedom Scientific, Inc., William Demant Holding A/S, Starkey Hearing Technologies, GN ReSound Group, Ai Squared, Blue Chip Medical Products, Inc., MED-EL, Liberator Ltd., Drive Medical Design and Manufacturing, Exact Dynamics B.V.

Key Insights from the India Disabled & Elderly Assistive Device Market Report:

• The information related to key drivers, restraints, and opportunities and their impact on the India disabled & elderly assistive device market is provided in the report.

• The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.

• The market share of players in the India disabled & elderly assistive device market is provided in the report along with their competitive analysis.

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