Europe Elderly Care Medical Devices Market, By Product, By End User, By Region, Competition Forecast & Opportunities, 2028

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.

New York, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Elderly Care Medical Devices Market, By Product, By End User, By Region, Competition Forecast & Opportunities, 2028" - https://www.reportlinker.com/p06482432/?utm_source=GNW Europe elderly care medical devices market is anticipated to observe impressive growth during the forecast period 2024-2028.The major factors driving the market growth include the widespread incidence of chronic conditions, such as diabetes, cancer, asthma, arthritis, and cancer, among others, and the growing geriatric population augmenting the growth of the market.According to the IDF Diabetes Atlas, as of 2021, around 61 million adults (20-79 years) are living with diabetes in Europe.Europe has the highest number of children and adolescents (0-19 years) with type 1 diabetes which is around 295,000.Elderly care devices are devices that are utilized for planning healthcare management and coordinating care among old age people.These products are used to provide comfort in the daily movements of elder age people and also provide them with long-term care needs, thus, in turn, improving their quality of life.The other factors supporting the market’s growth are increasing demand for residential care facilities, increase in healthcare expenditure, investment in research and development, rising awareness regarding geriatric care devices, increase in average life expectancy, surging number of providers, increasing spending on health and wellness, rising inclination towards homecare services, and rise in number of elderly people suffering from health conditions.Rise in Prevalence of Chronic DiseasesGrowing incidences of chronic diseases, such as diabetes, cancer, osteoporosis, and others among the population, are strengthening the growth of the market.In 2019, the estimated number of individuals aged 50+ living in Europe was around 32 million.Out of this, 25.5 million were females, and 6.5 million were males. These devices help them to facilitate their daily living as the use of powered wheelchairs can help elderly people to live independently. The decline in agility and slow reflexes of old age people make them prone to injuries and falls even at home. Therefore, the need for elderly care devices is surging across the region. For instance, according to the NCDAlliance, more than one-third of the European population aged 15 or above suffer from chronic disease, and two out of three people at age 60 and above suffer from at least two chronic conditions.Increasing InvestmentsHeavy investments by various companies operating in the market for improvising the scenario of elderly care devices are expected to support the market growth.These increasing investments are invested into new startups which aim to scale up the efforts to serve elderly people.For instance, in 2021, the UK-based elderly care tech platform Birdie received USD11.5M Series A led by Index. The Caretech Birdie focuses on having more personalized and more preventative care so that older citizens can age at home longer, happier, and healthier.Increasing Aging PopulationThe rise in the proportion of elderly people who are aged 60 and more in the country is facilitating the growth of the market.Elderly populations are more prone to various diseases such as neurological, cardiovascular, and orthopedics, due to which there is a surge in demand for elderly care devices.Also, old age people suffer from several health issues with rising age, which in turn surges the growth of the Europe Elderly Care Medical Devices market. For instance, according to Statista data of 2021, Europe has the largest proportion of the aging population at 19%, whereas Italy has the largest elderly population share with 23.5% of the total population.Recent Developments• Owing to the overworked care staff, SARA (Social & Autonomous Robotic Health Assistant), an innovation started by the robotic system, is used as an assistant which improves elderly care in hospitals and nursing homes. Also, it improves the quality of life of elderly residents.• In 2020, Essence Group, a provider of IoT-based telecare solutions for older people, launched a new UK-specific telecare solution set, which includes multiple communication channels such as fall detection, activity monitoring, and outdoor monitoring to meet unique needs of old age people in the UK.Market SegmentationEurope elderly care medical devices market is segmented into product, end user, 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, 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.Based on end-user, the market is divided into hospitals, elderly nursing homes, assistive living facilities, homecare, and others. In terms of region, the market is segmented into France, Germany, United Kingdom, Italy, Spain, Finland, Greece, Portugal, Bulgaria, and Croatia.Market PlayersSonova 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, and Bischoff & Bischoff GmbH are some of the leading companies operating in the market.Report Scope:In this report, Europe elderly care medical devices market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:• Elderly Care Medical Devices Market, By Product:o Mobility Assistance Aids Wheelchairs Mobility Scooters Crutches and Cranes Patient Mechanical Lift Handling Walkers and Rollators Otherso Assistive Furniture Medical Beds Riser Reclining Chairs Door Openers Otherso Bathroom Safety & Assistive Products Bars, Grips, and Rails Commode Chairs Ostomy Equipment Shower Chairs Otherso Communication Aids Hearing Aids Vision & Reading Aids Speech & Writing Therapy Devices Others• Elderly Care Medical Devices Market, By End User:o Hospitalso Elderly Nursing Homeso Assistive Living Facilitieso Homecareo Others• Europe Elderly Care Medical Devices Market, By Region:o Franceo Germanyo United Kingdomo Italyo Spaino Finlando Greeceo Portugalo Bulgariao CroatiaCompetitive LandscapeCompany Profiles: Detailed analysis of the major companies present Europe elderly care medical devices marketAvailable Customizations:With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:Company Information• Detailed analysis and profiling of additional market players (up to five).Read the full report: https://www.reportlinker.com/p06482432/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________