Geriatric care devices: Key market research findings
- Growing shift towards home care
- Increased prevalence of urinary incontinence
Technavio has added a new market research report on the global geriatric care devices market, which is expected to grow at a CAGR of around 11% between 2015 and 2019. The global market for geriatric care devices is positively influenced by the rapid rise in elderly population and related diseases. These devices include products like wheelchairs, walkers, and adult diapers that facilitate the daily activities of old people. The Americas are the major revenue contributor for geriatric care devices, accounting for around 40% of the overall market revenue. Factors like the increase in number of elderly population coupled with the presence of prominent vendors in the US region are responsible for this region’s high market share during the forecast period.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Presently, the healthcare sector is focusing on reforms that minimises healthcare expenditure and hospital stays for patients. This has paved new developments towards home care setting for the elderly people like self-drive wheelchairs and use of pant-style disposable adult diapers. Tilting wheelchairs and stair climber wheelchairs for not require any nurse assistance and help old people to carry out their daily routines in the home environment. Also, vendors are offering upgraded version of various mobility assistive devices to suit the home settings,” says Imran Mushtaq, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
Growing prevalence of urinary incontinence is the key driver for the growth of this market. Urinary incontinence is caused by sphincter dysfunction or bladder dysfunction and affects nearly 200 million people worldwide. This increase in the prevalence of urinary incontinence is expected to augment the demand for adult diapers, which in turn will result in the growth of this market.
The leading vendors in the global geriatric care devices market include Cardinal Health, Invacare, Kimberly-Clark, SCA and Unicharm. This market is highly fragmented due to the presence of numerous large and small vendors. These vendors use innovative strategies for product upgradation and develop products according to customer needs so as to gain maximum prominence in the market during the forecast period.
A more detailed analysis is available in the Technavio report, Global Geriatric Care Devices Market 2015-2019.
We can customize reports by other regions and specific segments upon request.
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