Assistive Technologies For Visually Impaired Market Size, Share, Growth Report 2032

Global Assistive Technologies For Visually Impaired Market Size:

The global assistive technologies for visually impaired market size was evaluated at $3.9 billion in 2021 and is slated  to hit $13.2 billion by the end of 2030 with a CAGR of nearly 13.8% between 2022 and 2030. The market report is an indispensable guide on growth factors, challenges, restraints, and opportunities in the global marketplace. The report covers the geographical market along with a comprehensive competitive landscape analysis. Additionally, the report explores the investor and stakeholder space to help companies make data-driven decisions.

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Assistive Technologies For Visually Impaired Market: Overview

Visual impairment results in partial or complete loss of vision and leads to hindrance in performing of routine tasks, thereby severely impacting the quality of life of the individuals. Furthermore, these assistive technologies for visually impaired includes magnifying glasses, optical character recognition, reading assistance software, optoelectronic reading systems, screen readers, electronic dictionaries, speech recognition software, text to voice technologies, smart canes, and braille displays.

As per WHO, there are nearly 2.2 billion people across the globe who are visually impaired and impairment of vision is a major cause of financial burden resulting in annual productive losses of nearly USD 411 billion. According to American Foundation for the Blind, nearly 8.7 million people in the U.S. were visually impaired and more than 1.3 billion in the country were completely blind by January 2016. Moreover, the American Foundation for the Blind and National Federation for the Blind reported that nearly 1,00,000 from among these visually impaired and blind population were students.

According to NIH researchers, the number of blind persons above sixty years of age is increasing by nearly 2 million each decade and may be doubled in the foreseeable future. The increase in the number of visually impaired people has created massive demand for assistive tools and technologies. These assistive technologies assist the visually impaired persons in effectively performing their daily activities, offer them safe mobility, and improve their quality of life.

Key Insights

• As per the analysis shared by our research analyst, the global assistive technologies for visually impaired market is projected to expand annually at a CAGR of around 13.8% over the forecast timespan (2022-2030)
• In terms of revenue, the global assistive technologies for visually impaired market was evaluated at nearly $3.9 billion in 2021 and is anticipated to hit $13.2 billion by 2030
• The global market is anticipated to surge at a remarkable rate over the forecast period due to rise in aging population prone to cataract & refractive error
• Based on product type, the educational devices & software segment accounted for the largest market share in 2021
• In terms of end user, the enterprises & social organizations segment to contribute sizably towards the overall market share during the assessment timespan
• On the basis of region, the North American region is predicted to be a key revenue generator for the global market over the projected timeframe

COVID-19 Impact:

The outbreak of the Covid-19 pandemic severely affected the expansion of the global assistive technologies for visually impaired market and witnessed a steep reduction in the production of assistive tools for visually impaired due to low supply of raw materials and low mobility of workforce due to lockdowns imposed by various governments to curb the spread of COVID-19 pandemic. During the pandemic, the surging costs compelled industry players to purchase more raw materials at higher costs, thereby raising the costs of assistive tools for visually impaired.

Apart from this, the Covid-19 protocols also led to shut down of production plants. Therefore, there was low production of assistive tools during the pandemic, particularly in the first and second quarter of the Covid-19 pandemic period. But the lifting of lockdowns post COVID-19 pandemic along with the lifting of restrictions on the import of raw materials used for producing assistive tools for visually Impaired people are expected to open new facades of growth for the global market in the years to come.

Assistive Technologies for Visually Impaired Market Size: Growth Drivers

Rise in aging population prone to cataract & refractive error to boost demand for assistive technologies

A prominent rise in population with visual impairment due to aging, cataract, refractive error, and other health related issues will boost the demand for assistive technologies for visually impaired. In addition to this, technological advancements in domain of assistive tools for impaired people and favourable government initiatives towards use of the assistive technologies will expand the scope of growth of the assistive technologies for visually impaired market across the globe.  For the record, In May 2022, WHO and UNICEF jointly introduced first global report on assistive technology. Moreover, the report states that over 2.5 billion people across the globe require assistive tools and need of assistive tools will increase to 3.5 billion by 2050 due to surge in elderly population and rise in non-communicable ailments globally.

Global Assistive Technologies for Visually Impaired Market: Restraints

Rising costs of new assistive technologies for visually impaired can restrict the growth of the global market

High costs associated with the new assistive technologies for visually impaired people can pose a threat to the expansion of the global assistive technologies for visually impaired industry. As per first global report on assistive technology released jointly by WHO and UNICEF, there were huge gaps found in the service provisioning and trained personnel for assistive technologies in almost 70 countries in fields such as cognition, self-care, and communication. This factor can prove to be a major hindrance for the expansion of the assistive technologies for visually impaired industry across the globe.

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Assistive Technologies for Visually Impaired Market: Challenges

A large proportion of visually impaired persons in lower- & middle-income countries do not have access to assistive technologies and this can pose a key challenge to the growth of the global market

As per Global Report on Assistive Technology released by WHO and UNICEF in May 2022, nearly 90% of the visually impaired population requiring assistive technologies cannot avail it. This is likely to be major challenge for the market growth. For the record, the global report on assistive technology has stated that a large number of visually impaired people in lower- and middle-income nations do not have access to assistive products or technologies and the access is as less as 3%. This can prove to be a challenging factor for the sizable expansion of the assistive technologies for visually impaired market.  

Global Assistive Technologies for Visually Impaired Market: Opportunities

Introduction of new low vision apps to open new dimensions of growth for the market across globe

Rise in launch of new kinds of low vision apps and devices as well as audiobooks such as audible books will help the key players explore new opportunities of growth in untapped markets across the globe. A number of start-up firms are trying to unleash new growth avenues in the global industry and this can contribute majorly towards the global market proceeds.

Segmentation Analysis

The global assistive technologies for visually impaired market is divided into product type, end user, and region.

Based on product type, the global assistive technologies for visually impaired industry is segmented into mobility devices, educational devices & software, and low vision devices segments. Moreover, educational devices & software segment led the global assistive technologies for visually impaired market share in 2021 and is set to dominate it even during the forecast timeline. The segmental growth can be due to rise in use of educational devices & software for visually impaired students for educational purpose.

In terms of end user, the global assistive technologies for visually impaired market is divided into enterprises & social organizations, blind schools, personal use, and federations & hospitals segments. Moreover, enterprises & social organizations segment, which led the growth of global market in 2021, is predicted to chart a profitable growth map for the assistive technologies for visually impaired industry in the forthcoming years. The growth of the segment during 2022-2030 can be attributed to massive demand for assistive technologies for visually impaired persons by enterprises & social organizations as a part of their corporate social responsibility initiative for helping the individuals with visual impairments.

Recent Developments

• In September 2022, eSight, a major player manufacturing vision enhancement tool, launched eSight4, a medically validated & U.S. FDA registered low vision device for visually impaired people, at Chicago, U.S. Reportedly, the new device will help people with central vision loss achieve 20/20 visual acuity. The move will help the people faced with low vision issues in enhancing their experience of real-world environment, save their travel time, reduce burden of refereeing clinic, and ensure high patient satisfaction. The move will boost the market trends in the U.S.

• In December 2022, Scotiabank, a multinational banking & financial services firm headquartered in Toronto, Canada, invested nearly $1.2 million in the Canadian National Institute for the Blind, a National charitable organization that help people impacted by loss of vision. Reportedly, ScotiaRISE initiative of the bank which is a three-year funding initiative will assist blind and partially-sighted people as well as deaf & blind persons to improve their employment & educational prospects in Canada. The move will boost the growth of assistive technologies for visually impaired industry in Canada

Report Scope:

Assistive Technologies for Visually Impaired Market: Regional Analysis

 North American assistive technologies for visually impaired market to expand leaps & bounds over 2022-2030

In terms of region, the global assistive technologies for visually impaired market is segmented into Latin America, Europe, North America, Asia-Pacific, and the Middle East and Africa. The North American region is slated to lead the global market growth over the next eight years subject to rise in the number of people affected due to complete or partial visual impairment. Apart from this, presence of strong healthcare infrastructure and technological upgradations of assistive technologies for visually impaired in countries such as the U.S. and Canada will expand the regional market size and increase its scope in the region.

Competitive Analysis

The global assistive technologies for visually impaired market is led by players such as

• Cambium Learning Group
• American Thermoform Corporation
• AbleNet Inc.
• LVI Low Vision International AB
• Amedia Corporation
• Access Ingenuity
• Dolphin Computer Access Ltd.
• Adaptivation Inc.
• Nippon Telesoft Co. Ltd.
• HumanWare Group
• VFO.

The global assistive technologies for visually impaired market is segmented as follows:

By Product Type

• Educational Devices & Software
• Mobility Devices
• Low Vision Devices

By End User

• Blind Schools
• Enterprises & Social Organizations
• Personal Use
• Federations & Hospitals

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa