Global visual impairment market is projected to witness robust growth during 2024-2031. Visual impairment refers to a limitation in the ability to see caused due to diseases, disorders, or injuries which cannot be corrected by usual means like glasses. Some common causes of visual impairment include cataracts, glaucoma, age-related macular degeneration, and diabetic retinopathy among others. Rapidly aging global population, rising prevalence of diabetes, and urbanization are the key factors driving the global visual impairment market. However, high cost of treatment and lack of awareness in rural areas hinders the market growth. New innovations in treatments like stem cell therapy and gene therapy holds promise to treat conditions not addressable by conventional methods, thereby opening new avenues.

Market Dynamics:

The global visual impairment market is driven by the rapidly growing geriatric population which are more prone to eye diseases. As per UN, United Nations the number of people aged 60 years and older is expected to more than double by 2050 and reach nearly 2.1 billion. Rising prevalence of diabetes also fuels the market. According to IDF, 9.3% of the global adult population had diabetes in 2019 and it is projected to rise to 10.9% by 2045. Urbanization leads to unhealthy lifestyle habits like the overuse of digital devices which strains eyes and increases risk of myopia especially among the younger population. However, high cost of advanced treatments, limited healthcare access in remote areas, and lack of awareness hinders the market growth. Development of stem cell therapy and gene therapy to treat chronic eye conditions not addressable by traditional methods offers lucrative opportunities.

Key Features of the Study:

• This report provides in-depth analysis of the global visual impairment market, and provides market size (USD Billion) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global visual impairment market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Novartis AG, Bausch Health Companies Inc., Acucela Inc., Nicox SA, Santen Pharmaceutical Co. Ltd., Allergan, and F. Hoffmann-La Roche AG
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global visual impairment market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global visual impairment market

Detailed Segmentation-

• By Product Type
  
  • Educational Devices & Software: 
    
    • Braille Duplicators and Writers
    • Braille Computers
    • Mathematical & Science Devices
    • Reading Machines
    • Others
  • Mobility Devices
    
    • Canes
    • Others
  • Low Vision Devices
    
    • Smart Glasses
    • VTS Link
    • Magnifying Lenses
    • Others
  • Others
• By End Users
  
  • Blind Schools & Training institutes
  • Enterprises & Social Organizations
  • Personal Use
  • Hospitals
• By Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa
• Company Profiles:
  • OrCam Technologies
  • Freedom Scientific, Inc.
  • HumanWare Group
  • Enhanced Vision Systems (EVS)
  • Vispero
  • Eschenbach Optik GmbH
  • LVI Low Vision International
  • eSight Corporation
  • IrisVision
  • Rejoin Technology Co., Ltd
  • Zoomax Technology Co., Limited
  • Dolphin Computer Access Ltd
  • Aumed Group Corp.
  • Topcon Corporation
  • Microsoft Corporation
  • NovaVision, Inc.
  • Telesensory Corporation
  • Second Sight Medical Products, Inc.