August 09, 2022 13:00 ET | Source: FACT.MR FACT.MR
United States, Rockville MD, Aug. 09, 2022 (GLOBE NEWSWIRE) -- As per a detailed study by Fact.MR, a market research and competitive intelligence provider, the global assistive furniture market is expected to reach a valuation of US$ 5.5 billion by 2026, rising at a CAGR of 6% over the forecast period (2022-2026).
Assistive furniture includes all resources available to those who are unable to fend for themselves physically. These tools considerably aid the disabled in moving around, reading, listening, and carrying out other daily tasks, which is increasing demand for these product and accelerating market expansion.
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Since disabled persons require assistance from a variety of tools and equipment to carry out all essential daily tasks, these devices benefit both, elderly and disabled patients in living a peaceful, simple, and independent life. Growing number of people with disabilities is a factor in the market for assistive furniture. Changing lifestyles, accessibility of assistive devices for the disabled and elderly, and rising demand for assistive technology are the main reasons that are considerably enhancing market growth.
Healthcare systems across the world are under pressure due to the growing ageing population. Home-based treatment is actively used as a substitute for protracted hospital stays. Technological advancements have made it possible for assistive devices to be connected to healthcare networks, which is assisting the transition to home-based care.
What is Driving U.S. Assistive Furniture Market Growth?
“Increase in R&D Spending for Production of High-end Assistive Furniture”
Expansion of the market in the United States is being driven by a growing prevalence of disabilities, the presence of significant manufacturers, and higher R&D spending for the production of high-end assistive furniture.
The market is growing as a result of the increased use of advanced assistive technologies and rapid integration of healthcare facilities. It is projected that strong government measures to upgrade healthcare facilities through insurance programs will create profitable growth prospects in the country.
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Key Segments Covered in the Assistive Furniture Industry Survey
To gain a competitive edge and increase market share, manufacturers of assistive furniture are making significant investments in value-added services. Market players are also engaging in a variety of developmental methods such as product launches, collaborations, joint ventures, and mergers.
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Key players in the Assistive Furniture Market
Key Takeaways from Assistive Furniture Market Study
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