Seeing Beyond Limits: The Booming Market of Assistive Technologies for the Visually Impaired
Depending on the type and degree of vision loss, the effect on learning will vary significantly. Some people may have been born blind, while others may have gradually lost their vision. Some may have no vision at all, while others may have some vision, be light-sensitive, or have restricted peripheral vision. Also, it’s likely that day-to-day variations in vision and light sensitivity will occur.
For easier access to things, people might need modifications and aids. Most of them use assistive technology to help them see well, such as closed-circuit TV, screen magnification, or screen reading software.
Technologies that are pertinent to the broad category of vision impairment are numerous. Some people might obtain information using their vision by using magnification, glare reduction, and other upgrades. People who have less functional eyesight may need to view their books via screen reading software or an audio book player.
Use of various technology by blind people varies as well. Since many people with congenital blindness or those who have been blind since childhood learned braille in school, they are more likely to employ both braille and screen reading equipment. However, people who became blind as adults are less likely to have learned braille but may have used screen reading or magnifying technologies before.
The global assistive technologies for visually impaired market is anticipated to reach US$ 13,313.6 million by the end of 2030 from US$ 4,752.1 million in 2022, expanding at a CAGR of 13.8% from 2023 to 2030 (forecast period).
Assistive technologies for visually impaired market to Recover post COVID-19 Pandemic
Initially, the COVID-19 pandemic has had a marginally negative effect on the market for assistive devices for the blind. The market for assistive devices for the visually impaired had a minor slowdown in growth following the COVID-19 outbreak. The implementation of lockdown and the emphasis of COVID-related and only critical condition treatment were the main causes. The risk of COVID-19 infections during the pandemic decreased the frequency of visually impaired patients or children visiting blind schools, hospitals, etc. Their consulting and visual help came to an end as a result. Teleconsultation and online courses for visually impaired patients and students helped them handle their problems and needs despite the pandemic’s extensive distribution.
Global unlocking, vaccination accessibility, and COVID-19 control cases allowed patients with visual impairments to resume their treatment regimens and gain access to support in the post-pandemic era. In response to and recovery from COVID-19, governments from many nations have released a variety of guidelines for older citizens and people with disabilities. The recommendations stressed the importance of supporting in-person learning for children with impairments by using the proper tools and resources. As a result, the COVID-19 epidemic slightly hampered the market’s expansion during its early stages. The reopening of blind schools and the regular visits of visually impaired patients to blind schools, hospitals, and clinics around the world are additional factors that are anticipated to contribute to the market’s continued steady growth.
Increasing Prevalence of visual impairment and blindness to Boost Peptide Drug Conjugate Market
The market is expanding because to the increased prevalence of visual impairment and blindness worldwide. Almost 2.2 billion individuals will be living with near- or farsightedness worldwide in October 2022, predicts the WHO. Global geriatric population rise will also spur market expansion. A number of vision-related illnesses and even vision loss are symptoms of ageing. Aging is linked to dry eyes, age-related macular degeneration, diabetic retinopathy, cataracts, and glaucoma, according to the National Institute on Aging. The WHO estimates that there are currently 1 billion people aged 60 and older, and by 2030, that number will rise to 1.4 billion. Innovative assistive technology for the visually impaired has been introduced by market participants. For its two products, the handheld OrCam Read and the wearable OrCam MyEye, which are both aimed towards those who are blind or visually challenged, OrCam released its most recent software, Version 9.10, in August 2021. The most recent software would provide a better user experience and easier access to the hands-free voice command features.
Hence, growth in the studied market is predicted throughout the course of the analysis period due to the increasing prevalence of vision impairment and blindness as well as the growing geriatric population. The expensive price of electronic visual assistance solutions, however, is probably going to limit market expansion.
North America to Spearhead the Assistive Technologies For Visually Impaired Market
North America is the fastest-growing segment in the assistive technologies for visually impaired market due to several factors.
- Due to an increase in the number of people suffering from low vision problems brought on by chronic diseases and viral infections, North America will continue to lead the growth of the global market for assistive technology for the visually impaired throughout the course of the forecast period.
- In addition, an increase in the number of elderly people who are susceptible to eye problems has created new growth opportunities for the local industry.
- The easy accessibility to better healthcare facilities in nations like the U.S. and Canada, as well as the presence of major players in these nations, will also significantly contribute to the growth of the market for assistive technologies for the visually impaired in North America.
Companies operating in the assistive technologies for visually impaired market have adopted several growth strategies to expand their market share and increase their revenue. Key players in the 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.
Some of the key growth strategies by key players include:
- Partnerships and Collaborations: OrCam Technologies partnered with OrCam Partners with Sight and Sound Technology to increase distribution of OrCam’s wearable assistive technology devices in the UK. Companies are forming partnerships and collaborations to share expertise and resources to accelerate the development of assistive technologies for visually impaired. These partnerships enable companies to leverage their strengths and develop new therapies more efficiently.
- Research & Development and Launches: Companies are investing in research and development to develop smart technologies and improve existing products. These companies are launching new AI features in the market to expand their product portfolios and gain a competitive advantage.
- Geographical Expansion: Companies are expanding their geographical presence by entering new markets and establishing a presence in regions with high growth potential. This enables companies to tap into new customer bases and increase their revenue.
- Marketing and Promotional Activities: Companies are investing in marketing and promotional activities. This enables companies to increase demand for their products and drive sales. For instance, promoting the assistive technology product OrCam MyEye, which was designated the ‘TIME’ Best Invention of 2019.
Overall, these growth strategies enable companies to expand their market presence, develop new products, and increase their revenue in the global peptide drug conjugates market
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