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),
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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:
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