Assistive Technologies for Visually Impaired Market - Increase in Demand for Assistive Technologies for Visually Impaired to Propel Market

The global assistive technologies for visually impaired market is driven by rise in prevalence and causes of visual impairment and blindness and increase in per capita health care expenditure. Prevalence of impaired vision is defined as the number of people affected with any kind of vision disorder per 100 people at a given point in time. The prevalence can vary significantly among countries depending on available health and eye care services and socio-economic factors. Rise in prevalence of eye disorders such as glaucoma, diabetic retinopathy, age-related macular degeneration, refractive error, and cataract is projected to increase the number of visually impaired people globally, thereby boosting demand for assistive technologies.

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The global assistive technologies for visually impaired market was valued at US$ 3,400.0 Mn in 2017 and is anticipated to reach US$ 7,100.0 Mn by 2026, expanding at a CAGR of 8.5% from 2018 to 2026. Increase in awareness about assistive technologies for visually impaired, technological advancements, and rise in target patient population are likely to augment the global market from 2018 to 2026. Surge in government initiatives to promote better facilities to improve quality of life of visually impaired people is expected to drive the global assistive technologies for visually impaired market. However, stringent regulatory requirements is a major factor restraining the global market.

The global assistive technologies for visually impaired market has been segmented based on product, end-user, and region. In terms of product, the global market has been classified into educational devices & software, mobility devices, low vision devices, and others. The educational devices & software segment has been categorized into Braille duplicators and writers, Braille computers, mathematical & science devices, reading machines, and others. The mobility devices segment has been bifurcated into canes and others. The low vision devices segment has been divided into smart glasses, VTS link, magnifying lenses, and others. The market segments have been analyzed based on available product categories in the assistive technologies for visually impaired market, cost-effectiveness, and preference for industries. Based on end-user, the global assistive technologies for visually impaired market has been classified into blind schools, enterprises & social organizations, personal use, federation & hospital, and others. In terms of region, the global assistive technologies for visually impaired market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Based on product, the educational devices & software segment dominated the global assistive technologies for visually impaired market. Rise in demand for Braille duplicators and writers, Braille computers, mathematical & science devices, and reading machines, and increase in government awareness programs in developing economies are expected to fuel the growth of the segment during the forecast period.

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In terms of end-user, the enterprises & social organizations segment dominated the global assistive technologies for visually impaired market. Increase in donations and rise in corporate social responsibilities are likely to drive the enterprises & social organizations segment during the forecast period.

North America accounted for 40.0% share of the global market in 2017. Increase in per capita health care expenditure is expected to fuel the growth of the assistive technologies for visually impaired market in the region. Health care expenditure in the U.S. was 17.6% of the GDP in 2011. Per capita expenditure on health care increased from US$ 8,500 in 2011 to US$ 10,348 in 2016. An increasing number of visually impaired patients in the country has been opting for treatment via assistive technologies. Moreover, rise in disposable income of people in emerging economies such as China and India is likely to enable them to avail better health care facilities. Increase in income, rise in baby boomer and disabled populations, and availability of advanced assistive technologies are expected to encourage health care service providers toward making significant investment in development of advanced assistive technologies to address patient needs, improve operational efficiency, and save both service costs and time.

Major players operating in the global assistive technologies for visually impaired market include VFO, Amedia Corporation, Dolphin Computer Access Ltd., HumanWare Group, Cambium Learning, Access Ingenuity, American Thermoform, and LVI Low Vision International.

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