Global Visually Impaired Market Is Expected To Reach US$ 6,979.5 Mn By 2026
The latest market report published by Credence Research, Inc. “Global Assistive Technologies for Visually Impaired Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global assistive technologies for visually impaired market was valued at US$ 3,497.5 Mn in 2017, and is expected to reach US$ 6,979.5 Mn by 2026, expanding at a CAGR of 8.0% from 2018 to 2026.
Blindness is defined as the inability to view objects and light. In cases such as moderate to severe visual impairment the patient might have slight to blurred vision. The causes for blindness are glaucoma, retinal detachment, cataract, diabetic retinopathy, optic neuritis etc. Visually impaired people possess a very poor quality of life and depend on other family members to assist them in performing daily activities. Tremendous technological advancement has taken place with braille scripts ranging from writers, readers and displays to assist the visually impaired population.
Huge charities and funding from nonprofit organization and corporate social responsibilities (CSR) have been harnessed to aid blind people. Several blindness awareness campaign are conducted worldwide and digital platform has been used profoundly to educate citizens about visual impairment and blindness.
Educational devices are gaining burgeoning demand on account of diverse range of products available for braille displays and writers. The key benefits related to using braille displays are bridging the digital divide between the visibly abled & disabled. Braille displays are being used as a positioning device and equipped with navigation tools to track blind people and ensure their safety in crowded places. Mobility devices are becoming a trendsetter due to excellent ergonomic designs and low cost.
In the last two decades there has been rampant growth in blind schools due to increased funding received from government and non-government organizations (NGO’s). Blind schools are the first point of contact wherein proper orientation and knowledge is imparted to the visually impaired population which results in independence and operational efficiency in daily chores and activities. Technological advancement in the eye health sector has resulted in impressive assistive technologies pertaining to mobility devices and low vision devices has resulted in tremendous demand for personal use segment.
North America is the clear leader in the regional segment for assistive technologies for visually impaired market. The key parameters responsible for the dominance of North America are rising public health awareness regarding blindness and excellent socio economic conditions safeguarding the welfare of blind people. As per the research findings of European Blind Union (EBU), approximately 1 in 30 Europeans experience some sort of blindness. Domicile of key players attract huge business traction on account of large blind population in European Union. Asia Pacific is set to register marvelous growth during the forecast period owing to the rising prevalence of blindness, improving socio-economic conditions in middle and low income countries. Emergence of local players posing competition to global leaders propel market growth in Asia Pacific region.
The major players engaged in developing assistive technologies for the visually impaired are Amedia Corporation, Access Ingenuity, American Thermoform, BAUM Retec AG, Cambium Learning, Dolphin Computer Access Ltd., Humanware Group, Nippon Telesoft, LVI Low Vision International and VFO.
Key Market Movements:
- Rising prevalence of blindness throughout the globe
- Increased funding received from charities and donations from influential groups to support blind people
- Technological advancement in the educational and low vision devices with excellent ergonomic design to assist the visually impaired population
Browse the full report Assistive Technologies for Visually Impaired Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026 report at https://bit.ly/2W3eSQf