The U.S. market for assistive technologies is projected to rise from $30.7 billion in 2005 to $39.4 billion in 2010, an AAGR (average annual growth rate) of 5.2%.
The market excluding eyeglasses and contacts is estimated at $8.7 billion and rising to $11.3 billion in 2010, an AAGR of 5.4%.
The largest market segments after vision and reading aids are daily living aids, mobility aids (expected to drop from 7.2% of the market to 5.7% in 2010) and communication aids.
Access aids appear poised to increase their market share from 2.9% in 2004 to 4.3% in 2010.
Report Code: HLC047A, Published: December 2005, Analyst: Andrew McWilliams
INTRODUCTION
Assistive technology products are designed to assist people who, because of specific disabilities or the general infirmities that often accompany old age, would otherwise be unable to participate meaningfully in economic, social, political, cultural and other forms of human activity in their communities. Assistive technology encompasses a broad range of devices, from "low tech" products such as eyeglasses and large-print books, to technologically sophisticated products such as voice synthesizers, Braille readers, and wireless monitoring devices.
Not only do many disabled and elderly people feel the need to perform basic activities for themselves, but their life expectations have undergone a revolution. They may now expect to be gainfully employed, participate in the political process, and attend cultural and social events, to name only some of the possibilities. Further, the Americans with Disabilities Act (ADA) of 1990 says, in essence, that participation in the mainstream of daily life is an American right, regardless of race, religion, or disability.
This BCC report assesses the U.S. market for the various types of devices and products that are on the market or under development to enable disabled and elderly persons to move about, see, hear, speak, dress themselves, and perform many other everyday activities as "normally" as possible.
SCOPE OF STUDY
The report contains:
An overview of technologies used in disabled and elderly care products
Discussion of conditions and applications addressed
Analysis of product types
Discussion of legal, regulatory, and insurance issues
Discussion of patent and IP issues
Market analysis, including market size and segmentation and projections through 2010
Analysis of market drivers
Discussion of the industry's size, structure, competition and market shares.
METHODOLOGY AND INFORMATION SOURCES
The findings and conclusions of this report are based on information gathered from manufacturers and distributors, hospitals, doctors, and other end users. Interview data were combined with information gathered through an extensive review of secondary sources such as trade publications, trade associations, company literature, and on-line databases to produce the baseline market estimates contained in this report.
The base-year for analysis and projection is 2004. With 2004 as a baseline, market projections were developed for 2005 through 2010. These projections are based on a combination of a consensus among the primary contacts combined with our understanding of the key market drivers and their impact from a historical and analytical perspective. The analytical methodologies used to generate the market estimates are described in detail in the section on Detailed Market Projections.
All dollar projections presented in this report are in 2004 constant dollars.
ANALYST CREDENTIALS
The author of this report is Andrew McWilliams. Mr. McWilliams, a partner in the Boston-based international technology and marketing consulting firm of 43rd Parallel LLC, is the author of several other Communications Company studies related to the subject of this report, including: B-127R Microelectronic Medical Implants: Products, Technologies and Opportunities; B-186 Patient Monitoring Devices; and B-216 Prosthetics, Orthotics and Cosmetic Enhancement Products.
Report Code: HLC047A, Published: December 2005, Analyst: Andrew McWilliams
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