Economic perspective of the assistive technology innovation market: national scenario and environmental projections

Abstract

Objective: Assistive Technology (AT) seeks to overcome or reduce the impact of deficiencies when performing everyday tasks. Although many people needed AT, in 2021, the WHO estimated that only one in ten people had access. With reduced supply and rising demand, a growing global movement of AT innovations was inspired, opening up a scenario of opportunities for this market. The objective of this study is to evaluate the AT market in Brazil and future projections on the global stage. Methods: The research was carried out in three stages. Firstly, a bibliographical study of the “White Book of Assistive Technology in Brazil” was carried out to recognize the challenges of the Brazilian market. Next, a study was carried out on the national credit scenario, focusing on TA financing. To understand the global market, research was carried out on TA market analysis websites. Results: There is a shortage of AT in Brazil. The main suppliers are small and medium-sized companies, and tax and credit incentives, as well as investments in Research, Development and Innovation, are scarce. On a global scale, the AT market was valued at US$ 21.95 billion in 2022, and is expected to reach a value of US$ 31.22 billion by the year 2030. Conclusion: The global AT market is in rapid expansion and presents great potential for opening up new markets. This scenario reflects a moment of business opportunities for national companies.