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Elderly and Disabled Assistive Solutions Market to grow by USD 15.60 Billion (2024-2028), AI Redefining Market Landscape with Government and NGO Initiatives – Technavio

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NEW YORK, Sept. 19, 2024 /PRNewswire/ — Report with market evolution powered by AI- The global elderly and disabled assistive solutions market size is estimated to grow by USD 15.60 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 8.09% during the forecast period. Initiatives by governments and ngos is driving market growth, with a trend towards growing customization. However, issues faced in developing countries poses a challenge. Key market players include Blue Chip Medical Products Inc., Briggs Corp., Cochlear Ltd., Demant AS, DeVilbiss Healthcare GmbH, Electric Mobility Euro Ltd., Freedom Scientific Inc., GF Health Products Inc., GN Store Nord AS, Invacare Corp., LifeTec, MED EL Elektromedizinische Gerate GmbH, Ottobock SE and Co. KGaA, Permobil AB, Pride Mobility Products Corp., Siemens AG, Sonova AG, Starkey Laboratories Inc., Sunrise Medical LLC, and WS Audiology AS.

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Elderly And Disabled Assistive Solutions Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 8.09%

Market growth 2024-2028

USD 15606 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

7.32

Regional analysis

North America, Europe, Asia, and Rest of World (ROW)

Performing market contribution

North America at 38%

Key countries

US, Germany, Japan, UK, and France

Key companies profiled

Blue Chip Medical Products Inc., Briggs Corp., Cochlear Ltd., Demant AS, DeVilbiss Healthcare GmbH, Electric Mobility Euro Ltd., Freedom Scientific Inc., GF Health Products Inc., GN Store Nord AS, Invacare Corp., LifeTec, MED EL Elektromedizinische Gerate GmbH, Ottobock SE and Co. KGaA, Permobil AB, Pride Mobility Products Corp., Siemens AG, Sonova AG, Starkey Laboratories Inc., Sunrise Medical LLC, and WS Audiology AS

Market Driver

The elderly and disabled assistive solutions market is witnessing significant advancements, with vendors prioritizing faster delivery processes and mass customization. Mass customization, which involves catering to consumers’ unique requirements, is becoming increasingly important. Technological advances, such as computer-aided designing, offer flexibility in add-on features and equipment. Vendors like Permobil AB and Sunrise Medical provide customization templates for consumers. The growing number of physically disabled individuals and rising awareness of their participation in events like the Paralympics fuel the demand for customized solutions, including swimming pool lifts, customized wheelchairs, and running leg implants. These trends are expected to boost sales and drive market growth during the forecast period. 

The Elderly and Disabled Assistive Solutions market is experiencing significant growth due to the increasing prevalence of mobility impairment disorders from non-communicable diseases like Multiple Sclerosis, Stroke, and Paralysis, as well as non-fatal injuries from road traffic accidents. Mobility aids, such as walkers, canes, wheelchairs, and mobility scooters, are in high demand to improve quality of life. Advanced healthcare systems, including patient mechanical lifts and rehabilitative devices, are also popular solutions. Companies like Sonova Holding AG, AI Squared, and AudioNova provide cost-effective assistive technology, including hearing aids, visual aids, and cognitive aids. Retail stores offer a range of assistive devices, including bathroom safety equipment and crutches, to cater to the needs of the elderly and disabled population. Assistive technology innovations, such as AI-powered mobility scooters and computer software, are also trending. Amputation patients benefit from advanced prosthetic solutions. Overall, the market prioritizes affordable, effective, and user-friendly solutions to enhance the daily lives of those with mobility challenges. 

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 Market Challenges

The elderly and disabled assistive solutions market is primarily dominated by vendors based in the US and Europe, with manufacturing or sales units in 3-5 countries. Import duties, particularly in Asia, significantly impact the market’s growth. Asian countries, including China, India, and Bangladesh, levy high import duties and additional charges, making the import of these products expensive. High import duties discourage institutional end-users, such as hospitals, from importing these instruments and setting up research facilities in these countries due to the high costs involved. In contrast, Middle Eastern countries, such as Qatar, Oman, Saudi Arabia, and the UAE, have the least import charges and duties. However, the logistical complexity of accessories and other consumables used in the manufacturing of assistive solutions and intense competition from low-cost manufacturers like China and India restrict the expansion of global players in the market. These factors are expected to hinder market growth during the forecast period.The Elderly and Disabled Assistive Solutions market caters to the needs of the elderly population and disabled individuals, addressing challenges in daily activities due to advanced healthcare systems and chronic diseases. Companies like AI Squared, AudioNova, and GN Resound Group provide assistive technology and cognitive aids, such as hearing aids and computer software. Cost-effective solutions include assistive devices like canes, crutches, and bathroom safety equipment. Mergers and joint ventures between companies like Drive Medical, Invacare, and Ergonomic manufacturers offer cost-effective hardware systems and independent living alternatives. Hospitals and healthcare services invest in these solutions to improve health results and reduce healthcare expenditure. Developmental strategies focus on creating cost-effective, user-friendly assistive technology for cerebral palsy, dementia, amputation, and other disabilities, enhancing the quality of life for the disabled population.

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Segment Overview 

This elderly and disabled assistive solutions market report extensively covers market segmentation by

Product 1.1 Hearing devices1.2 Mobility and ambulatory devices1.3 Healthcare furniture and BSE1.4 Vision and reading aidsEnd-user 2.1 Hospital2.2 Home care setting2.3 Nursing homes2.4 Assisted living facilitiesGeography 3.1 North America3.2 Europe3.3 Asia3.4 Rest of World (ROW)

1.1 Hearing devices- The elderly and disabled assistive solutions market, specifically the hearing aids and devices segment, presents a significant growth opportunity for vendors due to the increasing number of people with hearing impairments and related disorders. Hearing aids, such as binaural aids and BTE hearing aids, are gaining popularity with advancements in technology and industrial standards. Major vendors, including Cochlear Ltd., Invacare Corp., Sonova AG, and Demant AS, are introducing new, innovative products, like Phonak Lyric, to cater to consumer needs. Government support through health insurance and subsidies for cochlear implants is also driving market growth. However, challenges, such as short battery life and potential substitution with smart earbuds, may hinder market expansion during the forecast period. Vendors must address these concerns to ensure continued growth in the elderly and disabled assistive solutions market.

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Research Analysis

The Elderly and Disabled Assistive Solutions market encompasses a range of devices and technologies designed to improve quality of life for the elderly and disabled population. Rehabilitative devices, such as braces and prosthetics, help restore mobility and function after injuries or illnesses. Mobility aids like wheelchairs, scooters, canes, and walkers provide independence and ease of movement. Cognitive aids, including visual aids, hearing aids, and computer software, assist individuals with memory, perception, and communication challenges. Healthcare expenses for the elderly and disabled population are significant, making independent living alternatives essential. Assistive devices, such as bathroom safety equipment, hospital beds, and homecare solutions, enable individuals to live safely and comfortably in their own homes. The market caters to various disabilities, including those resulting from dementia, chronic diseases, and road traffic accidents. The geriatric population and individuals with disabilities benefit greatly from these solutions, enhancing their overall health results and promoting a sense of independence.

Market Research Overview

The Elderly and Disabled Assistive Solutions market encompasses a range of advanced healthcare systems and assistive devices designed to enhance the functioning of elderly and disabled individuals. These solutions include assistive technology such as AI-powered cognitive aids, computer software, and hardware systems, which help improve daily activities and enable independent living. Bathroom safety equipment, mobility aids like canes, crutches, and wheelchairs, and medical furniture are essential components of this market. Chronic diseases, disabilities, and mobility impairment disorders like cerebral palsy, multiple sclerosis, and paralysis are common reasons for the use of these assistive solutions. Noncommunicable diseases, such as dementia and stroke, also drive demand. The market caters to various disabilities, including hearing impairments with hearing aids and visual impairments with visual aids. Cost-effective solutions are crucial for the elderly and disabled population, leading to the development of joint ventures and mergers among market players. Homecare, hospitals, and retail stores offer these assistive devices, ensuring accessibility and affordability. Lifestyle changes due to aging or injuries, such as road traffic accidents and amputations, further fuel market growth. Rehabilitative devices, patient mechanical lifts, and mobility scooters are other essential solutions within this market, aiming to improve health results and overall quality of life.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductHearing DevicesMobility And Ambulatory DevicesHealthcare Furniture And BSEVision And Reading AidsEnd-userHospitalHome Care SettingNursing HomesAssisted Living FacilitiesGeographyNorth AmericaEuropeAsiaRest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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BOLLINGER MOTORS PARTNERS WITH NATIONAL AUTO FLEET GROUP FOR GOVERNMENT FLEET VEHICLE SALES

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Bollinger B4 Class 4 Electric Trucks Provide Electrification Solution Through NAFG Sourcewell Contract Agreement

OAK PARK, Mich., Nov. 15, 2024 /PRNewswire/ — Bollinger Motors, Inc., a commercial electric vehicle (“EV”) manufacturer, today announced it has partnered with National Auto Fleet Group (NAFG) to sell its all-electric Class 4 Bollinger B4 commercial trucks to government agencies through NAFG’s Sourcewell-awarded contract #032824-NAF.

“Bollinger Motors is excited to work with National Auto Fleet Group to bring the Bollinger B4 to one of our most important customer groups, government entities at all levels,” said Jim Connelly, chief revenue officer of Bollinger Motors. “Government agencies and municipalities are often early adopters for electrification and electric vehicle fleets. We look forward to partnering with NAFG, and their history of bringing innovative products and solutions to this important segment.”

The Bollinger B4 Chassis Cab is an all-new, all-electric Class 4 commercial truck designed from the ground up with extensive fleet and upfitter input. The vehicle has a range of 185 miles and a payload of 7,394 lbs. Bollinger’s unique chassis design protects the 158-kwh battery pack and components to offer unparalleled capability, performance and safety in the commercial market. The Bollinger B4 is an excellent fit for commercial and government/municipal fleets looking for a world-class truck, capable of performing a variety of job functions.

“At National Auto Fleet Group, we take pride in helping municipalities find and manage their fleet vehicles,” said Ben Rodriguez, HD Manager of National Auto Fleet Group. “The Bollinger B4 is an excellent addition to our vehicle portfolio and will help fill a key product need for multiple government organizations developing electrification strategies.”

Sourcewell is a self-sustaining government organization, with more than 40 years of dedicated service helping government, education, and nonprofit agencies operate more efficiently through a variety of solutions. NAFG is a vehicle vendor catering to government agencies and municipalities across the country. The agreement with NAFG provides Bollinger Motors a conduit to winning more government contracts.

Bollinger Motors has passed numerous milestones in the past several months, including:

Its production launch on Sept. 16;Regulatory achievements including FMVSS compliance, receiving the Certificate of Conformity from the Environmental Protection Agency, and CARB certification;A 145-vehicle agreement with Momentum Group;A 70-vehicle agreement with Doering Fleet Management;A 50-vehicle agreement with EnviroCharge;The addition of Anderson Motors, TEC Equipment, Affinity Truck Center, Nacarato Truck Centers, Nuss Truck & Equipment, and LaFontaine Automotive Group as dealers and service centers;Working with Our Next Energy in Novi, Michigan, to supply battery packs;Providing a full warranty coverage of the B4 chassis cab; and,Announcing Syncron as its warranty administration partner and Amerit Fleet Solutions as its mobile service provider.

ABOUT BOLLINGER MOTORS

Founded in 2015 by Robert Bollinger, Bollinger Motors, Inc. is a U.S.-based company headquartered in Oak Park, Mich. Bollinger Motors is developing all-electric commercial chassis cab trucks, Classes 4-6. In September of 2022, Bollinger Motors became a majority owned company of Mullen Automotive, Inc. (NASDAQ: MULN). Learn more at www.BollingerMotors.com and www.MullenUSA.com.

FORWARD-LOOKING STATEMENT

Certain statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential” and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Bollinger Motors and are difficult to predict. Examples of such risks and uncertainties include: (a) Bollinger Motors’ continued partnership with NAFG and NAFG’s ability to sell Bollinger Motors vehicles; (b) Bollinger Motors’ ability to finalize a sales agreement with Momentum Group, Doering Fleet Management, and EnviroCharge and deliver purchased vehicles on schedule; (c) Bollinger Motors’ continued partnership with Nacarato Truck Centers, TEC Equipment, Affinity Truck Center, Nuss Truck & Equipment, and LaFontaine Automotive Group; (d) Bollinger Motors’ continued partnership with Our Next Energy as a battery supplier; (e) Bollinger Motors’ continued relationship with Syncron as its warranty administration provider; and (f) Bollinger Motors’ continued relationship with Amerit Fleet Solutions as its mobile service provider.

Additional examples of such risks and uncertainties include but are not limited to: (i) Bollinger Motors’ ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Bollinger Motors’ ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iii) Bollinger Motors’ ability to successfully expand in existing markets and enter new markets; (iv) Bollinger Motors’ ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Bollinger Motors’ business; (viii) changes in government licensing and regulation that may adversely affect Bollinger Motors’ business; (ix) the risk that changes in consumer behavior could adversely affect Bollinger Motors’ business; (x) Bollinger Motors’ ability to protect its intellectual property; (xi) the vehicles developed will perform as expected and (xii) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K filed by Mullen Automotive, Inc., of which Bollinger Motors is a partially owned subsidiary, with the Securities and Exchange Commission. Bollinger Motors anticipates that subsequent events and developments may cause its plans, intentions, and expectations to change. Bollinger Motors assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether because of new information, future events, or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Bollinger Motors’ plans and expectations as of any subsequent date.

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Furniture.com Launches Deal Finder to Help Shoppers Find Every Single Furniture Deal Online and In-Store this Holiday Season

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Furniture.com’s Deal Finder will source the best deals in furniture

ATLANTA, Nov. 15, 2024 /PRNewswire/ — Furniture.com, today announced the launch of its Deal Finder, a feature designed to connect shoppers with the best furniture and home goods deals online and in their neighborhoods. Deal Finder is the first of many shopper experience tools that Furniture.com will unveil as it grows in the US market.

About the Deal Finder
The Deal Finder aggregates every furniture deal and promotion from recognizable and trusted brands so customers don’t have to worry about finding the best deals in furniture. Customers easily input their location and find the most relevant deals online and near them.

By utilizing advanced algorithms and real-time data analytics, The Deal Finder will match shoppers with furniture that feels like them, is from a brand they trust, and is nearby.  By bridging the gap between consumers and retailers, and clearing out the unnecessary pop-ups and wild goose chases, Deal Finder will empower users to discover discounts and exclusive offers all while finding incredible design.

Shoppers will find deals from brands like One Kings Lane, Rooms To Go, Lamps Plus and more. To start shopping for better deals this holiday season, check it out here.

The Deal Finder is Part of Furniture.com’s Larger Plan to Re-invigorate Furniture Buying for Everyone.
Searching for furniture can be stressful and furniture buying has long been a point of contention for shoppers: 90% of furniture buyers prefer to test out furniture in-person before making a decision while 74% of buyers start the furniture search online. Furniture.com presents buyers with the tools they need to whittle down their furniture search process so that they can make their decisions faster and more confidently.

“Finding the best deal can be overwhelming. Our Deal Finder will help shoppers in a plethora of ways: from cutting down on hours spent online, to finding local furniture they can actually try out, to making sure they are getting the best deals,” said Alex Seaman, SVP and Co-Founder at Furniture.com “With Deal Finder, we are redefining the shopping experience by ensuring that every consumer can find the products they love without the hassle of endless searching.”

Furniture.com uses intuitive tech, AI, and location-based information to help shoppers find better deals and ultimately, the furniture they crave. The platform is set to transform the way consumers shop, making the furniture buying experience easier, more enjoyable and affordable.

“At Furniture.com, we’re focused on innovating the shopping experiences for retailers and consumers alike,” said Dan Bennett, Chief Marketing Officer at Furniture.com. “We’re committed to revolutionizing how we visualize, experience and purchase from brands in the home goods space and Deal Finder is just the beginning.”

About Furniture.com
Furniture.com is a high-growth technology business that is addressing fundamental challenges in the $200 billion U.S. furniture space. We have one mission: Make finding furniture easy and enjoyable. We have built an advanced discovery tool that facilitates, enhances, and streamlines the furniture purchase journey — both for B2C and B2B. Consumers can search across dozens of brands and thousands of products using our proprietary algorithm, AI tools, and comparison filters to find exactly what they’re looking for. For retail partners, we deliver a digital platform that’s been proven to expand their reach with a new, high-intent furniture audience.

Our team is comprised of world-class furniture experts, technologists, and brand builders. We are data-driven, solution-oriented, and general enthusiasts of beautiful designs and experiences. You can find us in one of our two offices, located in Atlanta and NYC.

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CaloPal: The Calorie AI Assistant That Makes Weight Loss Easier

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NEW YORK, Nov. 15, 2024 /PRNewswire/ — As the focus on healthy lifestyles grows worldwide, CaloPal introduces a groundbreaking AI-powered calorie tracking assistant, providing global users with a simple and scientific tool for weight management. Using advanced AI technology, CaloPal helps users track their daily calorie intake in real time and offers personalized dietary and health management advice, simplifying the health management process and creating a more effective weight loss solution.

Science shows that the core of weight loss lies in balancing calorie intake and expenditure. However, many people don’t fully understand the connection between food and calories, making it challenging to track food calories and plan calorie intake. Previously, people had to manually input data and perform complex operations to obtain relevant information, which made these tools cumbersome and hard to maintain over time. Additionally, earlier health tools such as calorie counter and calorie tracker couldn’t offer personalized dietary advice, making weight control a lengthy and frustrating process. Now, everything is about to change. CaloPal ensures calorie data accuracy while providing users with personalized dietary recommendations, making weight loss a much easier journey.

Nick, the founder of CaloPal, stated, “CaloPal is a revolutionary AI calorie tracking application designed for users focused on health and weight management. We’ve simplified the calorie tracking process with the latest AI technology. Users only need to take a photo of their food, and CaloPal will automatically identify the food type, analyze its components, calculate calories, and provide a nutritional breakdown. CaloPal allows users to effortlessly track their daily calorie intake without manual input, making health management much more convenient and supporting long-term calorie tracking. Additionally, CaloPal offers personalized dietary recommendations based on users’ data, helping them achieve their weight management goals more easily through balanced nutrition.”

CaloPal assists users in controlling weight through the following features:

Smart Food RecognitionReal-Time Nutritional Data AnalysisPersonalized Weight Loss RecommendationsDiet and Weight Tracking

CaloPal is now available for users to try for free through the app (App Store download link: CaloPal on App Store) and the website, Fitness Pal will be released later this month。For more information about this product and the latest updates on CaloPal, please visit our website:https://calopal.ai/

Media Contact
contact@calopal.ai

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