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Visual Impairment Market Reach New Heights Growth Accelerated by Rising Adoption of Smart Vision Aids

Visual Impairment Market

Visual impairment refers to a decreased ability to see either partially or fully that cannot be corrected by usual means like wearing glasses. Certain vision aids help people with visual impairment to read, write, navigate and experience the world around them. Assistive devices for low vision like magnifiers, Braille displays and screen readers help enhance functional abilities.

The global visual impairment market is estimated to be valued at US$ 5511.15 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Key Trends:

The global visual impairment market growth is majorly driven by rising adoption of smart vision aids. Smart vision aids leverage latest technologies like artificial intelligence, augmented reality and machine learning to offer enhanced functionality and ease of use. For instance, smart glasses help visually impaired individuals navigate independently, read text,identify objects and faces among other capabilities. Furthermore, integration of smart home control features in smart vision aids allow users to control home appliances through voice commands. introduction of AR based smart glasses is a key trend fueling the visual impairment market growth as they provide enlarged, high contrast digital overlays to assist people with low vision.

Segment Analysis

The global Visual Impairment market is segmented based on type, condition, end-user, and geography. By type, the market is divided into myopia, hyperopia/hypermetropia, astigmatism, and others. The myopia segment currently dominates the market due to the high prevalence of near-sightedness worldwide. By condition, the market is classified into pathological myopia, pigmentary retinopathy, congenital cataracts, glaucoma, diabetic retinopathy, and others. Myopia accounts for the largest share as it is the most common vision disorder. By end-user, the market covers hospitals & clinics, optical shops, and others. Hospitals and clinics have the highest share since they are the primary points of care for visually impaired patients.

Key Takeaways

The Global Visual Impairment Market Growth is expected to witness high. The global visual impairment market is estimated to be valued at US$ 5511.15 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030.

Regional analysis: North America currently dominates the global market due to advanced healthcare infrastructure and rising geriatric population in the US and Canada who are highly prone to vision disorders. Asia Pacific is poised to be the fastest-growing region over the forecast period owing to large population bases, increasing healthcare spending, rising awareness about visual impairments.

Key players: Key players operating in the Visual Impairment market are 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. Adaptivation, Inc. and AbleNet, Inc. have a significant market share due to their comprehensive product portfolios for low vision rehabilitation.

Explore more information on this topic, Please visit -

https://www.insightprobing.com/visual-impairment-market-growth-and-outlook-analysis/

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