Europe Elderly Care Medical Devices Market to be dominated by Growing Technological Advancements through 2028
Increasing geriatric
population along with various health conditions to drive the elderly care medical
devices market in the forecast period, 2024-2028.
According to TechSci Research report, “Europe Elderly Care Medical Devices Market – By Region, Forecast
and Opportunities, 2018-2028”, the Europe elderly care medical devices market is
anticipated to grow at a significant rate in the forecast period, 2024-2028.
The increasing advancements
in technology in elderly care medical devices in the region is expected to
drive the growth of the Europe elderly care medical devices market. There are
numerous developments which are already being used in the elderly care devices
such as wearable devices, virtual reality, use of AI in devices, assistive
medical robots, and others. The rising awareness among the elders about these
medical devices are surging the market growth.
However, the high cost of devices may hamper the growth of
the market in the forecast period. Besides, stringent regulatory scenario in
the region leads to slower product approvals or product marketing approvals
thereby slowing down the market growth. Also, product recalls have been
observed, which restrict the market growth.
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Europe elderly care medical
devices market is segmented into product, end user, country, and company.
Based on product, the market
is divided into mobility assistance aids, assistive furniture, bathroom safety
& assistive products, and communication aids. Based on mobility assistance
aids, the market is further divided into wheelchairs, mobility scooters, crutches
and cranes, patient mechanical lift handling, walkers and rollators, and
others. Based on assistive furniture, the market is further divided into
medical beds, riser reclining chairs, door openers, and others. Based on
bathroom safety & assistive products, the market is further divided into
bars, grips, and rails, commode chairs, ostomy equipment, and shower chairs.
Based on communication aids, the market is further divided into hearing aids,
vision & reading aids, speech & writing therapy devices, and others. The mobility assistance aids segment is expected to witness
a rise over the forecast period. This is attributed prevalence of certain
age-related disorders, coupled with growing prevalence of injuries & falls
wherein mobility assistance is required. Also, increasing number of surgeries
has led to an increasing demand for mobility assistance aids during the
rehabilitation process.
Based on end user industry, the
market is categorized into hospitals, elderly nursing homes, assistive living
facilities, homecare, and others. The hospitals segment is anticipated to
grow during the forecast period. This is attributed to the fact that hospitals
address a large pool of elderly patients suffering from different conditions.
Major companies operating
in Europe elderly care medical devices market are:
- Sonova Holding AG
- William Demant Holding A/S.
- GN Resound Group
- Koninklijke Philips N.V.
- Medtronic Plc.
- OttoBock Healthcare GmbH
- Investor AB (Permobil AB)
- Stryker Corporation
- Invacare Corporation
- Getinge AB (Arjo)
- Medical Depot, Inc.
- Prism Medical UK
- Etac AB
- Handicare Group AB
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“United Kingdom is expected to witness significant growth in the
upcoming years due to the rise in adoption of at-home care devices such as
bars, grips and others. The growing demand for telemedicine has further
increased the demand for various remote patient monitoring devices in the
country. Additionally, increasing government initiatives to improvise the
scenario of elderly care in the country is further facilitating the market growth” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
“Europe
Elderly Care Medical Devices Market, By Product (Mobility Assistance Aids,
Assistive Furniture, Bathroom Safety & Assistive Products, Communication
Aids), By End User (Hospitals, Elderly Nursing Homes, Assistive Living
Facilities, Homecare, Others), By Region, Competition Forecast &
Opportunities, 2028”, has evaluated the future growth potential of Europe
elderly care medical devices and provides statistics & information on
market size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Europe elderly
care medical devices market.
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