Cognitive Dysfunction Devices Market Industry Advancements, Conversion Trends, Analysis 2020 – 2027
Global Cognitive Dysfunction Devices Market, by Product Type (hearing aids, voice recognition devices, pill dispensers & reminders, prostheses, mobility aids), By Distribution Channel (Hospitals, Clinics, e commerce, rehabilitation centers), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2019 and 2027.
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As per the report, rise in prevalence of dementia and Alzheimer’s disease is attributed to growth of cognitive dysfunction devices market. According to WHO estimates worldwide prevalence of dementia in population above 60 years is 5% to 8%. In Canada these rates re as high as 14.9% for the age 65 and above. Cognitive dysfunction or cognitive impairment is associated with dementia and Alzheimer’s disease. Over 20 million individuals have a cognitive disability in the U.S. Moreover, improving life expectancy is also contributing to increased prevalence of cognitive dysfunctions. In the U.S. there are over 526,000 individuals over 60 years of age with mental retardation and other developmental disabilities. Some other risk factors for cognitive dysfunction are attention deficit hyperactivity disorder (ADHD), traumatic brain injury, Cerebral Vascular Incidents (CVA), Autism, stroke etc. Traumatic brain injury can affect different cognitive functions such as memory, language, reasoning, learning etc. About 2 million people in the U.S. have a brain injury every year, and about 10% of those have long term cognitive deficits which interfere with their everyday functioning.
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Furthermore, Meridian Market Consultants (MMC) Study identifies that, cognitive dysfunction devices are commonly used by elderly patients. These devices may help to slow functional decline in this population and help prevent patients from becoming more seriously ill. Cognitive dysfunction devices can significantly compensate for physical and sensory deficits, but they may pose risks to health and safety if not used properly. Cognitive impaired patients are found to use these devices for their physical impairment mainly because of worries relating to safety. Cognitive dysfunction devices can be customized to patient’s needs. However, the lack of training for assistive device use explains the lower rate of device use among geriatric patients with cognitive deficits. Study conducted in Sweden concluded that the more complex the technology, the less likely are elders with cognitive impairments to use it effectively.
MMC Study identifies some of the key participating players in cognitive dysfunction devices market globally are Siemens AG, Signia, Rexton, HearUSA, Phonak (Sonova), Starkey, Sonic Innovations, Belton, Oticon, Unitron, Bernafon, Earnet, Hansaton, Interton etc. among others.
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