Key drivers are initiatives of governments and NGOs.

The global elderly and disabled assistive solutions market size is expected to grow by $15.60b from 2024-2028, according to a new analysis by Technavio. 

It projects the market to expand at a compound annual growth rate of almost 8.09% during the said forecast period. This growth is being driven by initiatives by governments and non-governmental organisations, with a trend towards growing customisation.

“Mass customisation, which involves catering to consumers' unique requirements, is becoming increasingly important,” Technavio said.

“The growing number of physically disabled individuals and rising awareness of their participation in events like the Paralympics fuel the demand for customised solutions, including swimming pool lifts, customised wheelchairs, and running leg implants,” it added.

Technavio sees these trends to fuel sales and drive market growth during the forecast period. 

The market is also 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. 

Despite its growth, the market still faces challenges, particularly in developing countries. High import taxes, supply chain issues, and competition from cheaper manufacturers are some obstacles that have to be addressed to ensure continuous growth, Technavio said.