As per the report published by Fior Markets, the global assistive technologies for visually impaired market is expected to grow from USD 3,400.56 Million in 2017 to USD 6,570.89 Million by 2025 at a CAGR of 8.74% during the forecast period from 2018-2025. North America market is expected to witness substantial growth over the next decade. This growth is witnessed in the wake of ample opportunities offered due to rising elderly population, increasing cases of visually impaired, technological advancements and increasing per capita health expenditure in the region.
Global Assistive Technologies for Visually Impaired Market by Product (Educational Devices and Software, Mobility Devices, Low Vision Devices), End User (Blind Schools, Enterprises and Social Organizations, others), Region” and Global Forecast 2018-2025.
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Major manufacturers in the market include Cambium Learning, Access Ingenuity, VFO, Dolphin Computer Access Ltd., Amedia Corporation, HumanWare Group, Access Ingenuity, LVI Low Vision International, VisionCue, TQM, Eurobraille, Brailletec, BAUM Retec, Humanware among others. The key professional strategies by market players are offering greater opportunities and players are constantly focused on new product developments, strategic partnership and venture capital investments to hold the highest share of the market. For instance, in 2017, OrCam, launched OrCam MyEye blind assistive technology device. This device requires very simple commands to operate device’s camera which can view products, text and communicates what it “sees” to the user via a mini earpiece.
The Product segment is classified into educational devices and software, mobility devices and low vision devices. The educational devices & software segment is dominating the assisted technologies for visually impaired market and expected to grow with the highest CAGR of 10.93% in the forecast period. Increase in the demand of these products due to rising cases of blindness and need to make visually impaired population self-dependent is driving the growth of the market . End user segment is divided into segments such as blind schools, enterprises and social organizations, personal use, federation and hospital. The enterprises & social organizations segment is playing a chief role in shaping business growth in the forecast period.
The ability of assistive technologies to help visually impaired people in their day to day work is a major factor driving the growth of the market. These devices help in carrying out daily process such as household appliances, control over lighting, banking and shopping writing, reading and web-searching. Stringent government regulations and procedures are expected to restrain the growth of market. However, increasing demand for these devices from emerging countries, improving healthcare infrastructure and increase in per capita expenditure are some of the major aspects opening new avenues for the growth of the market.
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