Industry Outlook

The assistive technologies for visually impaired market is set to reach US$ 6,493.1 Mn by 2029 from US$ 4,064.4 Mn in 2020 at a compound annual growth rate (CAGR) of 7.8% during the forecast period from 2021 to 2029. As per the latest research citing of The International Agency for the Prevention of Blindness (IAPB) approximately 36 million people throughout the globe are blind. In depth studies have noted that around 217 million people have severe to moderate visual impairment and desperately need assistive technologies for their care and support.

Global eye health sector have understood the need of blind people and likewise have manufactured devices to aid the visually impaired population. There has been a drop in the prevalence rate from 4.58% in 1990’s to 3.8% in 2018. It is important to note that the prevalence rate of blindness is variegated depending on the availability of eye care and socio economic factors among countries.

"Mobility devices will be the fastest growing segment on account of technological advancement and better ergonomic design"

Braille scripts are widely used by blind people to understand literature, traditionally it was written on embossed paper. Currently braille scripts are available on computer screens and other refreshable braille displays and writers. Companies such as Amedia Corporation and BAUM Retec AG are providing braille displays, electronically magnifying vision aids and reading devices for the implementation of electronically available information in braille scripts and speech output. Mobility devices are set to register impressive growth during the forecast period on account of increase in donations and charities to help the visually impaired people with better mobile devices to improve their quality of life and perform ambulatory activities independently. Better operational efficiency, navigation and excellent ergonomic designs propel the mobility devices market.

"Increased funding and awareness campaign for visual impairment has resulted in rapid growth of blind schools throughout the globe"

Healthcare agencies and nonprofit organizations (NGO’s) throughout the globe have been providing large funds for the awareness campaign and assistance to fight visual impairment throughout the globe. In the last two decades there has been a rise in the enrollment of visually impaired students in blind schools. Braille scripts in the form of writers, printers, computers and other standalone devices are provided in blind schools to improve education and quality of life of blind students. Growing awareness of visual impairment among citizens due to proactive social media and digital platform has resulted in increased usage of mobility devices and low vision devices for personal use. Availability of diverse range of products pertaining to standalone devices and software to assist visual impairment drives the personal use market globally.

"Rising prevalence of visually impaired population and emergence of local players drive the market growth in Asia Pacific"

Currently North America dominates the assistive technologies for visually impaired market with a share of 39%. The factors responsible for the dominance of North America are the well-developed healthcare infrastructure and technological advancement in the devices and software to help the visually impaired population. Germany pioneers in technology and is actively engaged in designing new software for braille printers and writers. Rising prevalence of eye disorders and proactive social organizations cater the needs of the visually impaired population in Europe. Asia Pacific accounts for one third of the global visually impaired population on account of dire eye health conditions in the middle and low income countries of Asia Pacific region.  Emergence of local players pose serious competition to key players providing devices and software equipped with braille script in Asia Pacific.

Market assessment was performed by employing the organic and inorganic growth strategies to determine the prevailing trends in the assistive technologies for the visually impaired. In depth analysis regarding the technological advancement taking place in the devices are covered in the products segment. The percolation of these devices for the visually impaired population in different strata of the society is studied in the end users segment. Competitive landscape is determined to understand the existing competition among the device manufacturers. In the product portfolio segment the different types of devices and software to assist the visually impaired are briefly covered. The key players providing the assistive technologies for the visually impaired population 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.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Assistive Technologies For Visually Impaired market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Assistive Technologies For Visually Impaired market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Assistive Technologies For Visually Impaired market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Assistive Technologies For Visually Impaired market?
• Which is the largest regional market for Assistive Technologies For Visually Impaired market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Assistive Technologies For Visually Impaired market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Assistive Technologies For Visually Impaired market worldwide?