Ambient Assisted Living Market Size, Share & Trends Analysis Report By Product (Medical Assistance Products, Safety & Security), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global ambient assisted living market size was valued at USD 5.9 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 26.6% from 2023 to 2030. The market is driven by factors such as the increasing aging population, rising demand for remote patient monitoring devices, and the growing trend of independent living. Furthermore, the constant need to monitor patient vital signs and track medication consumption will bode well for the market growth.

The demand for AAL systems, devices, and applications for personal health monitoring and telemedicine services is increasing. Growing awareness about healthcare systems and concepts such as electronic health records, mobile health applications, and others is setting the trend for personal health monitoring. The use of AAL systems continues to rise with the involvement of individual preferences for personalized healthcare and demand for independent living.

AAL solutions are designed to help geriatric people and people with disabilities live independently. Health risks increase with age, hence older people require ongoing monitoring and medical care. According to the WHO, the population aged 60 and above is estimated to increase from 1 billion in 2020 to 1.4 billion in 2030. By 2050, this figure will reach 2.1 billion. AAL supports aging individuals in places of their own choosing and gives autonomy to elderly people to live their life, relieving caregivers.

The government is taking proactive measures to incorporate telehealth and RPM in elderly care. This will prevent hospitalizations and reduce costs. The introduction of smart electronic devices that can connect to applications and devices in homes has increased the customer base and demand. For instance, in November 2022, KamiCare announced the launch of Fall Detect, an AI-enabled assistance and fall detection system that can be used at home. The system helps seniors stay in their homes and alert caregivers during incidences of falls.

The COVID-19 pandemic increased the demand for monitoring devices that can be used at home and in telehealth. The number of telehealth users increased drastically during the pandemic. As older people were more susceptible to COVID-19 infection, they adopted telemedicine and other medical assistance. They often opted for safety products and preferred staying at home. This positively impacted the AAL market growth.

Product Insights

Based on product, the ambient assisted living market is segmented into medical assistance products, safety and security, telemonitoring, mobility, communication devices, compensatory impairments, and others. The safety and security segment dominated the market with a share of 26.0% in 2022. The segment is projected to witness the highest growth during the forecast period. This can be attributed to the increasing demand for medical alert systems and smart fall detection sensors. Furthermore, increasing incidences of falls continue to favor segment growth.

The technological advancements and development of new services have boosted the segment’s growth. For instance, in January 2020, home security and automation company ADT Inc. launched Blue, the first DIY home security platform. This DIY home security product includes sensors, cameras, and various hubs for professional monitoring and storage to ensure the comfort and convenience of patients.

The medical assistance segment is expected to have lucrative growth during the forecast period. The increase in demand for home healthcare products such as medication reminders, glucose monitors, and others that can be managed remotely by medical professionals continues to boost the segment’s growth. Growing adoption of telehealth especially during the pandemic and reforms in reimbursement for telehealth services also favors the growth of the telemonitoring segment.

Regional Insights

North America led the overall market with a revenue share of 45.8% in 2022. The growth is attributed to the increasing geriatric population and high prevalence of age- and lifestyle-related diseases in the region. Furthermore, technological advancements and the increasing trend of independent living are contributing to market growth.

For instance, in August 2022, UTM:Healthcare, a mobile health technology organization, announced that it has improved connectivity for remote patient monitoring (RPM) solutions using new biometric devices with increased data transfer capabilities. The improved UTM:RPM solution will enhance compatibility with cellular-enabled blood glucose meters, blood pressure monitors, and pulse oximetry devices.

The market in Europe is expected to witness growth owing to increasing investments by governments in the adoption of digital platforms and smart homes. Asia-Pacific is anticipated to have lucrative growth during the forecast period. The presence of a sizeable geriatric population in countries such as India and China is anticipated to provide significant momentum to the market. The rising disposable income of the population and increasing internet and smartphone penetration are expected to bode well for the industry’s growth.

Key Companies & Market Share Insights

The market is moderately fragmented with the presence of various domestic and international players. New product launches, mergers & acquisitions, and partnerships are some of the key strategies undertaken by market players. For instance, in September 2021, Apple launched the Apple Watch Series 7 with updated fall detection algorithms. Some prominent players in the global ambient assisted living market include:

• 2PCS Solutions GmbH

• Assisted Living Technologies, Inc.

• Alcove

• Televic

• Bay Alarm Medical

• Sensara

• ADT

• Medical Alert

• Legrand Care

• EnOcean GmbH

• LifeStation, Inc.

Ambient Assisted Living Market Report Scope

Global Ambient Assisted Living Market Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global ambient assisted living market report based on product and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Medical Assistance Products

  • Safety and Security

  • Telemonitoring

  • Mobility

  • Communication Devices

  • Others

  • Compensatory Impairments

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • India

    • Australia

    • China

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait