Assistive Technologies for Visually Impaired Market: Introduction
According to the report, the global assistive technologies for visually impaired market was valued at US$ 3.5 Bn in 2020 and is projected to expand at a CAGR of 13.7% from 2021 to 2031. 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 healthcare expenditure.
North America dominated the global assistive technologies for visually impaired market in 2020, and this trend is anticipated to continue over the next few years. The market in the region is driven by increase in R&D investments by pharmaceutical companies & research institutes for new development and presence of major research laboratories and pharmaceutical & biotechnology companies.
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The assistive technologies for visually impaired market in Asia Pacific is expected to expand at a CAGR of 14.4% from 2021 due to increase in the number of visually impaired patients 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 healthcare facilities.
Increase in income, rise in baby boomer and disabled populations, and availability of advanced assistive technologies are expected to encourage healthcare service providers toward making significant investment in development of advanced assistive technologies to address patient needs, improve operational efficiency, and save both service cost & time.
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Advent of New Technology to Drive Global Market
The assistive technologies for visually impaired market has witnessed significant investments by multinational corporates over the past few years. These business conglomerates have invested in companies operating in the assistive technologies for visually impaired market. ViewPlus introduced the NEW Power-Dot Braille. It is the strongest and most readable Braille dot of any desktop Braille printer, while maintaining a pleasing rounded dot shape with Power-Dot Braille.
Freedom Scientific announced the newest addition to its RUBY family, the RUBY 10, a 10-inch touchscreen video magnifier with optional text to speech and advanced viewing modes.
Freedom Scientific announced TOPAZ Ultra-portable video magnifier. It features a unique folding design, making it extremely easy to carry. It offers crisp, full-HD images on a 15.6-inch or 17.3-inch screen, enabling users to clearly see what they want, whether across the room or at their desk. The monitor height is fully adjustable, ensuring users always have the right reading angle. Its compact size lets them easily store it when not in use.
OrCam Technologies, a global leader in personal, AI-driven assistive tech innovations, announced the release of new software Version 9.10. The update, which is seamlessly downloaded on the wearable OrCam MyEye (for blind and visually impaired people) and handheld OrCam Read (for people with reading challenges) devices, empowers users in education and workplace settings as well as in the performance of daily activities resulting in increased independence and self-reliance.
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Educational Devices & Software Segment Dominated Assistive Technologies for Visually Impaired Market
In terms of product type, the global assistive technologies for visually impaired market has been classified into educational devices & software, mobility devices, and low vision devices. The educational devices & software segment dominated the global assistive technologies for visually impaired market in 2020 and the trend is projected to continue during the forecast period. Increase in demand for educational devices & software is anticipated to drive the segment over the next few years.
Enterprises & Social Organizations to Lead Assistive Technologies for Visually Impaired Market
In terms of end-user, the global assistive technologies for visually impaired market has been categorized into blind schools, enterprises & social organizations, personal use, federation & hospital, and others. The enterprises & social organizations segment dominated the global assistive technologies for visually impaired market in 2020 and the trend is expected to continue during the forecast period.
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North America to Dominate Global Market
In terms of region, the global assistive technologies for visually impaired market has been segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America is projected to account for a leading share of the global assistive technologies for visually impaired market during the forecast period, owing to increase in number of patients suffering from blindness.
The assistive technologies for visually impaired market in Asia Pacific is projected to grow at a rapid pace over the next few years. India, China, and South Korea are expected to be lucrative markets in the near future.
Growth Strategies of Key Players
Key players operating in the global assistive technologies for visually impaired market are Amedia Networks, Inc., VFO, Cambium Learning, Dolphin Computer Access Ltd., Access Ingenuity, American Thermoform, LVI Low Vision International, ViewPlus, Humanware Australia Pty Ltd., Freedom Scientific, Inc., Nippon Telesoft, Co., Ltd, and OrCam Technologies.
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