The global Visual Impairment Market is estimated to be valued at US$ 5511.15 Mn or 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.

SWOT Analysis:-

·         Strength: Growing ageing population worldwide prone to visual impairments. Also, increasing government support for developments in assistive technologies.

·         Weakness: High costs associated with development of advanced visual impairment assisting devices. Lack of accessibility in underdeveloped regions.

·         Opportunity: Untapped markets in developing countries present large growth opportunities. Continued adoption of AI, VR and AR technologies can further enhance products.

·         Threats: Stringent regulations around data privacy and security pose challenges. Changing consumer preferences can threaten existing product portfolios.

Key Takeaways:-

The Global Visual Impairment Market Size was valued at US$ 5511.15 Mn in 2023. The market is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period 2023 to 2030.

The regional analysis indicates that North America dominates currently due to supportive regulations and advanced healthcare infrastructure. Asia Pacific is poised to witness fastest growth owing to rising ageing population, growing health awareness and improving access to healthcare in countries like China and India.

Some of the 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. These players are focusing on launching innovative products integrated with advanced technologies like AI and VR to expand their global footprints.

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