Table of Contents
Assistive Technology Market Overview
Assistive technology companies include devices and services that help individuals with disabilities perform tasks more easily. This includes mobility aids, hearing and vision tools, communication devices, and adaptive computer technology.
AT promotes independence, supports education and employment access, enhances safety, and encourages social participation.
Despite challenges like cost and accessibility, advancements in AI and biotechnology are expanding AT’s capabilities, significantly improving the quality of life for those with disabilities.
Market Drivers
Several factors, including the growing aging population, rising chronic conditions, and technological advancements in AI, robotics, and sensor technology, drive the global assistive technology market.
Increased government initiatives and funding, along with heightened awareness and acceptance of assistive devices, further support market growth.
Additionally, the demand for personalized and customizable solutions is boosting the development of more tailored and effective assistive technologies, all contributing to a larger market presence and improved quality of life for individuals with disabilities.
Market Size
The global assistive technology market is forecast to grow to USD 36.6 billion by 2033, from USD 22.9 billion in 2023, at a 4.8% CAGR.
List of Major Companies
These are the top 10 companies operating in the Assistive Technology Market:
Sonova
Company Overview
| Establishment Year | 1947 |
| Headquarter | Stäfa, canton of Zürich, Switzerland |
| Key Management | Arnd Kaldowski (CEO) |
| Revenue (US$ Bn) | $ 3.7 Billion (2023) |
| Headcount | ~ 18,151 (2024) |
| Website | http://www.sonova.com/ |
About Sonova
Sonova Holding AG, a leader in assistive technology companies, specializes in hearing aids, cochlear implants, and audiological services.
In August 2024, the company launched the Audéo Infinio and Audéo Sphere Infinio platforms, featuring real-time AI for improved speech clarity in noisy environments, positioning Sonova ahead of competitors.
In October 2024, Sonova resumed its partnership with Costco, introducing the Sennheiser Sonite R, a prescription hearing aid available in 107 U.S. locations, with plans for wider distribution. These moves highlight Sonova’s focus on innovation and expanding its market presence.
Geographical Presence
Sonova Holding AG, headquartered in Stäfa, Switzerland, operates in over 100 countries, with a strong presence in Europe, North America, Asia-Pacific, and the Middle East and Africa.
The company has subsidiaries in more than 30 countries and works with independent distributors to expand its reach.
Its brands, such as Phonak and Unitron, provide hearing care solutions in key markets, including the United States, Germany, France, the United Kingdom, China, Japan, and Australia.
Through this extensive network, Sonova ensures its innovative hearing solutions are accessible to a broad global audience.
Recent Developments
- In October 2024, Unitron launched the Ativo hearing aids and new Vivante™ styles, Stride™ V-M and Stride V-SP, expanding options for clients and hearing care professionals.
- In August 2024, Sonova launched two new Phonak platforms, Audéo Infinio, and Audéo Sphere Infinio, featuring real-time AI technology for enhanced hearing.
GE-Healthcare
Company Overview
| Establishment Year | 1994 |
| Headquarter | Chicago, Illinois, United States |
| Key Management | Peter Arduini (CEO) |
| Revenue (US$ Bn) | $ 19.6 B (2023) |
| Headcount | ~ 51,000 (2023) |
| Website | http://www.gehealthcare.com/ |
About GE HealthCare
In October 2024, GE HealthCare launched a new medical scanner assembly line at its Buc facility in France, marking the return of production to the country after decades.
This move aims to reduce delivery times for European clients and reinforces the company’s commitment to local manufacturing.
Additionally, in September 2024, GE HealthCare received FDA approval for its diagnostic drug, Flyrcado, to detect coronary artery disease.
Enhancing diagnostic accuracy and expanding its cardiovascular care portfolio. These initiatives reflect GE HealthCare’s focus on innovation and strengthening its market position.
Geographical Presence
GE HealthCare operates in over 160 countries, with a significant presence in North America, Europe, the Middle East, Africa, Asia Pacific, and Latin America.
The company serves major markets such as the United States, contributing approximately 42% to its revenue, and China, which represents 13% of its sales.
GE HealthCare has manufacturing and R&D facilities in key regions like France, the United Kingdom, Germany, and India and provides tailored healthcare solutions in emerging markets like Brazil and Mexico.
This extensive geographical footprint allows GE HealthCare to deliver innovative healthcare technologies globally, enhancing patient outcomes across diverse regions.
Recent Developments
- In October 2024, GE HealthCare launched its first medical scanner assembly line at its Buc factory in Yvelines.
- In July 2024, GE Healthcare acquired Intelligent Ultrasound Group’s clinical AI software business for around $51 million.
Philips
Company Overview
| Establishment Year | 1891 |
| Headquarter | Amsterdam, Netherlands |
| Key Management | Roy Jakobs (CEO) |
| Revenue (US$ Bn) | $ 19.6 Billion (2022) |
| Headcount | ~ 69,656 (2023) |
| Website | http://www.philips.com/ |
About Philips
Philips, a leader in health technology, has made significant strides in the assistive technology companies/sector.
In November 2023, the company received additional funding from the Bill & Melinda Gates Foundation to enhance its AI-powered ultrasound program, aiming to improve maternal health access globally.
This initiative focuses on deploying AI algorithms in the Philips Lumify Handheld Ultrasound, simplifying key measurements to identify pregnancy abnormalities, thereby reducing training time for healthcare workers.
Additionally, in September 2024, Philips announced FDA approval for its enhanced LumiGuide guidewire, marking the 1,000th patient treated with its 3D device guidance technology.
These developments underscore Philips’ commitment to leveraging advanced technologies to improve patient care and expand access to essential health services.
Geographical Presence
Koninklijke Philips N.V. operates in over 100 countries, with a notable presence in North America, Europe, Asia-Pacific, and South America.
In North America, it has key offices in the United States and Canada, including major facilities in Massachusetts, Georgia, and Ontario.
In Europe, its global headquarters are in Amsterdam, with additional operations in Germany, France, and the UK. In the Asia-Pacific region, Philips has a significant presence in China, India, Singapore, and Australia, and it has extensive manufacturing and R&D centers.
It also maintains operations in Brazil. This global footprint allows Philips to leverage diverse markets and resources, driving innovation and delivering healthcare solutions worldwide.
Recent Development
- In November 2023, Philips secured a second round of funding from the Bill & Melinda Gates Foundation to expand AI adoption on its Lumify Handheld Ultrasound.
- In January 2021, Philips acquired Capsule Technologies, a provider of medical device integration and data solutions for healthcare.
Medtronic
Company Overview
| Establishment Year | 1949 |
| Headquarter | Dublin, Ireland |
| Key Management | Geoff Martha (CEO) |
| Revenue (US$ Bn) | $ 32.3 Billion (2024) |
| Headcount | ~ 95,000 (2024) |
| Website | http://www.medtronic.com/ |
About Medtronic
Medtronic plc has advanced the assistive technology companies/sector through innovative medical devices and strategic collaborations.
In November 2023, the company received FDA approval for the Symplicity™ blood pressure procedure, a minimally invasive device designed to treat hypertension, marking the culmination of a decade of clinical research and development in renal denervation technology.
Additionally, in January 2024, Medtronic announced CE Mark approval for the MiniMed™ 780G system with Simplera Sync™, a disposable, all-in-one continuous glucose monitor, enhancing diabetes management with a simplified insertion process and eliminating the need for fingersticks.
These developments underscore Medtronic’s commitment to leveraging advanced technologies to improve patient care and expand access to essential health services.
Geographical Presence
Medtronic plc operates in over 150 countries, with its global headquarters in Minneapolis, Minnesota, and legal headquarters in Dublin, Ireland.
The company has a significant presence across the Americas, including the United States, Canada, Brazil, and Argentina, as well as in Europe, Russia, and key markets in Asia, including China, India, Japan, and Australia.
It also serves regions such as Greater China, the Middle East, Turkey, and Africa, leveraging its extensive geographical footprint to provide innovative healthcare solutions worldwide. Medtronic’s reach spans across key markets, addressing diverse healthcare needs globally.
Recent Development
- In October 2023, Medtronic recalled its MiniMed 600 series or 700 series insulin pumps due to the shortened battery life.
- In November 2023, Medtronic announced FDA approval of the Symplicity Spyral™ renal denervation system for treating hypertension.
Abbott
Company Overview
| Establishment Year | 1888 |
| Headquarter | Green Oaks, Illinois, U.S. |
| Key Management | Robert B. Ford (CEO) |
| Revenue (US$ Bn) | $ 40.1 B (2023) |
| Headcount | ~ 114,000 (2023) |
| Website | http://www.abbott.com/ |
About Abbott
Abbott Laboratories has made significant strides in assistive technology companies, particularly in medical devices and diagnostics.
In September 2023, it acquired Bigfoot Biomedical to strengthen its diabetes care offerings. In October 2024, Abbott received emergency use authorization from the WHO for its Alinity m MPXV assay, a PCR test for detecting mpox.
The company also launched the Lingo continuous glucose monitoring system in the U.S. in September 2024, catering to both health-conscious consumers and those managing diabetes. These initiatives highlight Abbott’s commitment to innovation in healthcare technologies.
Geographical Presence
Abbott Laboratories operates in over 160 countries, with a significant presence in North America, Latin America, Europe, Asia-Pacific, the Middle East and Africa.
In the United States, it offers a broad range of healthcare products, while the acquisition of CFR Pharmaceuticals bolsters its Latin American operations.
Abbott also maintains a strong footprint in Europe, Asia, and the Pacific, including key markets such as India, China, and Australia.
Its acquisitions, such as Veropharm in Russia, have further expanded its global reach, underscoring its commitment to addressing diverse healthcare needs worldwide.
Recent Developments
- In October 2024, Abbott Laboratories terminated the sale of a 51% stake to The Searle Company Limited.
- In September 2024, Abbott’s acquisition of Bigfoot Biomedical strengthened its diabetes care with personalized management and FreeStyle Libre® technology.
Omron
Company Overview
| Establishment Year | 1933 |
| Headquarter | Kyoto, Japan |
| Key Management | Junta Tsujinaga (CEO) |
| Revenue (US$ Bn) | $ 5.7 Billion (2023) |
| Headcount | ~ 28,034 (2023) |
| Website | http://www.omron.com/ |
About Omron
Omron Corporation, a leader in automation and healthcare, has made notable progress in assistive technology companies.
In January 2023, alongside Alps Alpine, Shimizu Corporation, and IBM Japan, Omron extended its “Next Generation Mobility Assistive Technology Development Consortium” to advance AI-driven solutions like the “AI Suitcase,” designed to assist the visually impaired with independent mobility.
In October 2024, Omron also showcased its sustainability efforts at the “COP29 Japan Pavilion Virtual Exhibition,” highlighting solutions for carbon neutrality.
These initiatives reflect Omron’s commitment to using innovative technologies to improve accessibility and address societal challenges.
Geographical Presence
Omron Corporation, headquartered in Kyoto, Japan, has a significant global presence, operating in over 130 countries. Its key markets include the Asia-Pacific region, with strong footholds in China, India, and South Korea, as well as Greater China, where it has been active since the 1970s.
In Europe, Omron operates in countries such as Germany, France, Italy, and the UK, while in the Americas, it serves the US, Canada, Mexico, and Brazil.
The company also extends its reach to the Middle East and Africa, offering tailored industrial automation and healthcare solutions across these regions.
This broad geographical footprint enables Omron to provide localized support and meet the diverse needs of its global customer base.
Recent Developments
- In August 2024, Omron Corporation partnered with Neura Robotics to integrate AI-powered cognitive robots into manufacturing.
- In January 2024, Omron partnered with NTT Communications to demonstrate the visualization of its product supply chain’s carbon footprint.
GN
Company Overview
| Establishment Year | 1869 |
| Headquarter | Ballerup, Denmark |
| Key Management | Per Wold-Olsen (Chairman) |
| Revenue (US$ Bn) | $ 2.5 Billion (2022) |
| Headcount | ~ 8,113 (2022) |
| Website | http://www.gn.com/ |
About GN Store Nord
GN Store Nord A/S, a Danish company, is a global leader in intelligent audio solutions, including hearing aids, headsets, and speakerphones.
In February 2024, GN expanded its ReSound Nexia™ hearing aid family, introducing new styles that leverage Bluetooth® Low Energy Audio for enhanced connectivity and sound quality.
Furthering its commitment to innovation, in August 2024, GN released updated fitting software, ReSound Smart Fit 2.0, offering a more intuitive experience for hearing care professionals and users.
However, in June 2024, GN announced plans to gradually wind down its Elite and Talk product lines to focus resources on more attractive business areas, anticipating a revenue impact of approximately DKK 450 million.
These strategic moves underscore GN’s dedication to advancing assistive technology companies while optimizing its product portfolio.
Geographical Presence
GN Store Nord A/S, headquartered in Ballerup, Denmark, is a global leader in hearing aids and audio solutions, with a presence in over 100 countries.
The company operates research and development centers in Denmark, the United States, the Netherlands, and China and has manufacturing facilities in Denmark, the U.S., China, and Malaysia.
Its products are distributed globally, with regional warehouses in the U.S., the Netherlands, and Hong Kong.
GN Store Nord maintains offices in key locations, including the United States, Australia, Brazil, the Czech Republic, France, Germany, India, and Italy. This ensures efficient support and distribution across its diverse global markets.
Recent Developments
- In November 2024, GN expanded the ReSound Nexia family, providing more options with advanced hearing technology and Bluetooth connectivity.
- In June 2024, GN phased out its Elite and Talk product lines to focus on more promising business areas.
Demant
Company Overview
| Establishment Year | 1904 |
| Headquarter | Smørum, Denmark |
| Key Management | Søren Nielsen (CEO) |
| Revenue (US$ Bn) | $ 2.8 Billion (2022) |
| Headcount | ~ 21,000 (2023) |
| Website | http://www.biotronik.com/ |
About Demant
Demant A/S, a Danish multinational company, is a leading provider in the assistive technology companies/sector, specializing in hearing aids, audiometric equipment, and personal communication devices.
In September 2024, Demant announced the appointment of Anne-Karen Hunt as President of its Diagnostics business area, effective November 1, 2024, aiming to strengthen its leadership in diagnostic solutions.
Additionally, in November 2024, Demant reported organic revenue growth of 2% in Q3, driven by strong performance in its Hearing Care segment, and maintained its 2024 outlook with an expected EBIT before special items of DKK 4,300-4,600 million.
These developments underscore Demant’s commitment to innovation and strategic growth within the assistive technology industry.
Geographical Presence
Demant A/S, headquartered in Denmark, operates in over 130 countries, with a strong presence in Europe, North America, Asia-Pacific, and Latin America.
The company has established subsidiaries and partnerships across major European nations, including Germany, France, and the UK. In North America, it operates through brands like HearingLife in the U.S. and Canada.
In the Asia-Pacific region, Demant has expanded through acquisitions in China, Japan, and Australia. The company also recently launched a technology hub in Malaysia, enhancing its capabilities in software development and IT.
This global presence reflects Demant’s commitment to delivering innovative hearing healthcare solutions worldwide.
Recent Development
- In May 2022, Cochlear completed the acquisition of Oticon Medical’s cochlear implant business from Demant.
Cochlear
Company Overview
| Establishment Year | 1981 |
| Headquarter | Sydney, Australia |
| Key Management | Dig Howitt (CEO) |
| Revenue (US$ Bn) | $ 1.2 Billion (2023) |
| Headcount | ~ 4,800 (2023) |
| Website | http://www.cochlear.com/ |
About Cochlear
Cochlear Limited, a leader in implantable hearing solutions, has made significant strides in the assistive technology companies field.
In November 2022, the company received FDA approval for the Cochlear™ Nucleus® 8 Sound Processor, the smallest and lightest behind-the-ear cochlear implant.
In July 2024, Cochlear supported a pilot program in Shizuoka, Japan, aimed at providing hearing implants to children with funding from the Australian government.
Additionally, in August 2024, the company reported a 15% increase in sales revenue to $2.26 billion and a 19% rise in net profit to $356.8 million, driven by strong demand in its cochlear implants division.
These achievements highlight Cochlear’s focus on innovation and expanding global access to hearing solutions.
Geographical Presence
Cochlear Limited, headquartered in Sydney, Australia, operates in over 180 countries, with a direct presence in more than 50 nations.
The company has regional offices and manufacturing facilities in key markets, including the Asia Pacific, Europe, the Middle East, Africa, and the Americas.
Research and development facilities in Australia, Belgium, Sweden, and the United States support its global operations.
This extensive geographical footprint enables Cochlear to effectively deliver its implantable hearing solutions to a diverse customer base worldwide.
Recent Development
- In November 2022, Cochlear received FDA approval for the Cochlear™ Nucleus® 8 Sound Processor.
- In April 2022, Cochlear acquired Oticon Medical following Demant’s decision to exit its hearing implants business activities.
Medline
Company Overview
| Establishment Year | 1966 |
| Headquarter | Northfield, Illinois, United States |
| Key Management | Jim Boyle (CEO) |
| Revenue (US$ Bn) | $ 21.2 Billion (2023) |
| Headcount | ~ 36,000 (2023) |
| Website | http://www.medline.com/ |
About Medline
Medline Industries, a leading manufacturer and distributor of medical supplies, has contributed to the assistive technology companies/sector by providing a wide range of mobility aids and patient-handling devices.
In August 2024, Medline completed the acquisition of Ecolab Inc.’s global surgical solutions business, including the Microtek™ product lines, enhancing its portfolio in surgical and patient care solutions.
Additionally, in November 2024, Medline announced plans for an initial public offering (IPO) in 2025, aiming to raise over $5 billion, which could value the company at approximately $50 billion.
These strategic initiatives underscore Medline’s commitment to expanding its market presence and enhancing its offerings in the assistive technology industry.
Geographical Presence
Medline Industries, headquartered in Northfield, Illinois, is a leading manufacturer and distributor of medical supplies with a presence in over 125 countries. In North America, it operates more than 50 distribution centers across the U.S. and Canada.
The company has a strong footprint in Europe, including countries like Germany, France, Spain, and the UK, along with operations in Australia, Japan, and Southeast Asia.
Medline’s global reach is supported by over 35,000 employees and a network of distribution centers and manufacturing sites, allowing it to serve diverse healthcare markets worldwide.
Recent Developments
- In August 2024, Medline’s acquisition of Ecolab Inc.’s global surgical solutions business, including the Microtek™ product lines, marked a key milestone in its growth strategy and commitment to innovation.
Discuss Your Needs With Our Analyst
Please share your requirements with more details so our analyst can check if they can solve your problem(s)
