Global Visual Impairment Market, by Product Type (Educational Devices & Software (Raille Duplicators and Writers, Braille Computers, Mathematical & Science Devices, Reading Machines, and Others), Mobility Devices (Canes and Others), Low Vision Devices (Smart Glasses, VTS Link, Magnifying Lenses, and Others), and Others), by End Use (Blind Schools, Enterprises & Social Organizations, Personal Use, Hospitals, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 4,362.8 million in 2020 and is expected to exhibit a CAGR of 8.1% over the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
The increasing geriatric population is expected to foster the risk of vision impairment. Hence, rising geriatric population with more risk of visual impairment is expected to fuel the global visual impairment market growth during the forecast period.
Visual impairment can be described as vision loss or decreased ability to see to a degree that causes problems not fixable by usual means such as glasses. Visual impairment may cause difficulties with normal daily activities such as reading and walking without adaptive training and equipment. This visual impairment can be caused due to various factors, which include refractive error, glaucoma, cataract, etc. Visual impairment can be managed by different assistive devices for day to day activities such as reading, walking, etc. These devices and technologies ranges from educational devices, low vision devices to mobility devices. Assistive technology aids visual impaired people to read printed material or surf the web using assistive technology devices such as screen readers, screen magnifiers, and others.
Global Visual Impairment Market– Impact of Coronavirus (Covid-19) Pandemic
The COVID-19 pandemic has affected various industries globally. Supply of key raw materials for producing medical devices have been severely disrupted due to the forced quarantine, and lack of labor and raw materials. As the link between regional warehouses is not smooth, the transportation of raw materials between regions cannot be carried out successfully. This shortage of raw materials and components have affected the supply chain of the global visual impairment market. Quarantine, traveling constraints, and social distancing measures are likely to lead to a steep decline in business and consumer spending until the end of the 2020. Moreover, due to the increasing prevalence of COVID-19, key players operating in the visual impairment market are focusing on research and development of novel products to support and combat the effect of COVID-19, particularly blindness due to diabetic retinopathy.
Browse 28 Market Data Tables and 32 Figures spread through 176 Pages and in-depth TOC on “Visual Impairment Market”- Global Forecast to 2027, by Product Type (Educational Devices & Software (Raille Duplicators and Writers, Braille Computers, Mathematical & Science Devices, Reading Machines, and Others), Mobility Devices (Canes and Others), Low Vision Devices (Smart Glasses, VTS Link, Magnifying Lenses, and Others), and Others), by End Use (Blind Schools, Enterprises & Social Organizations, Personal Use, Hospitals, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa),
To know the latest trends and insights prevalent in the global visual impairment market, click the link below:
https://www.coherentmarketinsights.com/market-insight/vision-impairment-market-4337
Furthermore, technological advancements in assistive technologies or devices for visual impairment is also fueling growth of the global visual impairment market. For instance, in October 2019, Google LLC announced about its 2nd generation google assistance with increased speed. This new assistive technology will help visually impaired people to receive information through voice assistance and can aid visually impaired people to reach their destination via google map using google assistance.
Key Takeaways of the Global Visual Impairment Market:
- The global visual impairment market is expected to exhibit a CAGR of 8.1% during the forecast period, owing to rising population with visual impairment & blindness, and increasing prevalence of eye disorders across the globe. For instance, as per the Prevent Blindness report, the number of people in the U.S. suffering from cataract is expected to increase from 24.4 million in 2010 to 30.5 million by 2020, and people suffering from diabetic retinopathy in U.S. are projected to increase from 7.7 million in 2010 to 9.2 million in 2020.
- Among product type, educational devices & software segment is estimated to hold a dominant position in the global visual impairment market in 2020, owing to increasing demand for these devices due to technological advancements, and increasing awareness about the assistive technology based devices for visual impairment. For instance, according to data published by American Printing House for the Blind (APH), in 2017, a total of 63,357 legally blind children (through age twenty-one) were enrolled in elementary and high school in the U.S. eligible to receive free reading matter in Braille, large print or audio format.
- Among end use, enterprises & social organizations segment held dominant position in 2019 in the global visual impairment market. Increasing donations and rise in corporate social responsibilities are some of the major factors responsible for growth of the enterprises & social organizations segment. For instance, in October 2019, on account of World Sight Day (10th October), Galalite, a leading Indian manufacturer of cinema projection screens, brought about transformation in the life of 1,068 visually impaired individuals through its ‘Be the lite’ initiative. This initiative was comprised of activities such as eye care camps, engaging the visually impaired people in art workshops to increase awareness, and training activities for different communities.
- Among regions, North America is estimated to hold largest market share in the global visual impairment market in 2020, owing to larger population with blindness & visual impairment in the region, favorable reimbursement scenario, growing healthcare expenditure, and early adoption of technologically advanced products. For instance, according to Canadian National Institute for the Blind (CNIB), in Canada, an estimated 1.5 million Canadians identified themselves as having a sight loss and an estimated 5.59 million more have an eye disease that could cause sight loss, in 2017.
- Key players operating in the global visual impairment market include Adaptivation, Inc., AbleNet, Inc., Amedia Corporation, Access Ingenuity, LVI Low Vision International, American Thermoform, Cambium Learning, Dolphin Computer Access Ltd., HumanWare Group, ViewPlus, and VFO
