Visual Impairment Market: Rising prevalence of visual impairment & blindness and growing prevalence of eye disorders are expected to drive the market growth | Adaptivation, Inc., AbleNet, Inc., Amedia Corporation

The growing aging population is expected to foster the risk of vision impairment. Geriatric population with more risk of visual impairment is projected to augment the global visual impairment market growth during the forecast period.

Visual impairment is a common problem that affects millions of people worldwide. It is a condition in which one or more eyes cannot see as well as they do in good eyes. The World Health Organization and the American Academy of Ophthalmology define visual impairment as having vision less than 20/40 in the better eye. Complete vision loss is considered blindness. Some people with visual impairment may not have any symptoms at all, while others may be totally blind.

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Visual impairment may have a variety of causes, from trauma to disease. A severe impairment may not just affect distance vision, but can affect the person’s ability to read a standard newspaper. Low vision may require adaptations in lighting, print size, or even Braille. The individual may also need special equipment such as a Braille reader. The condition of visual impairment is important for the student’s overall well-being, and can also affect their educational prospects.

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.

Additionally, growing technological advancements in assistive technologies or devices for visual impairment is again 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, due to growing population with visual impairment & blindness, and growing 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, due to growing demand for these devices owing 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. Growing donations and increasing 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 growing 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

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Reasons to buy this Visual Impairment Market Report

☑ It attempts an analysis of the competing scenario.

☑ The current and exceptional product revenue market.

☑ An in-depth data on the regional investigation and competitive landscape structure.

☑ It benefits in creating an awareness of the important key product segments.

☑ The marketing strategies, opportunities, and development factors are explained.

☑ Visual Impairment market size estimation and recent advancements in the industry are explained.

The Study Objectives are:

✔ A comprehensive insight into key players operating in the Visual Impairment Market and their corresponding data.
✔ It includes product portfolio, annual revenue, expenditure on research and development, geographical presence, key developments in recent years, and growth strategies.
✔ Regional analysis, which includes insight into the dominant market and corresponding market share.
✔ It also includes various socio-economic factors affecting the evolution of the market in the region.
✔ The report offers a comprehensive insight into different individuals from value chains such as raw materials suppliers, distributors, and stockholders.

Table of Content

Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Visual Impairment Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Visual Impairment Industry Impact

Chapter 2 Global Visual Impairment Competition by Types, Applications, and Top Regions and Countries
2.1 Global Visual Impairment (Volume and Value) by Type
2.3 Global Visual Impairment (Volume and Value) by Regions

Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis

Chapter 4 Global Visual Impairment Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Visual Impairment Market Analysis
Chapter 6 East Asia Visual Impairment Market Analysis
Chapter 7 Europe Visual Impairment Market Analysis
Chapter 8 South Asia Visual Impairment Market Analysis
Chapter 9 Southeast Asia Visual Impairment Market Analysis
Chapter 10 Middle East Visual Impairment Market Analysis
Chapter 11 Africa Visual Impairment Market Analysis
Chapter 12 Oceania Visual Impairment Market Analysis
Chapter 13 South America Visual Impairment Market Analysis
Chapter 14 Company Profiles and Key Figures in Visual Impairment Business
Chapter 15 Global Visual Impairment Market Forecast (2022-2028)
Chapter 16 Conclusions
Research Methodology