The increase in medical expenses has made it necessary for the elderly or the disabled to rely on medical insurance. Some personal aids, such as walk-in bathtubs, bathtub lifts, handrails and hand showers, are expensive to install. Government measures and health insurance have reduced the pricing pressure on assisted solutions, especially for the elderly and the disabled, so it is expected to increase global market growth during the forecast period. It is predicted that the compound annual growth rate of the elderly and disabled assisted solutions market will exceed 8% in 2023.
Many disabled and older adults are opting for various assistive devices. However, the high price of these devices hinders their full-scale adoption, especially among middle-income and lower-income class groups. The high level of technological innovation and the extremely concentrated market scenario allow manufacturers to justify the premium pricing for advanced assistive solutions for the elderly and disabled, thus restricting the growth of the market during the forecast period.
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