North America Visual Impairment Products And Services MarketSize and Trends

The North America visual impairment products and services market is estimated to be valued at US$ 1,906.5 million in 2021 and is expected to exhibit a CAGR of 8.7% over the forecast period (2021-2028).

Figure 1. North America Visual Impairment Market Share (%) in Terms of Value, By Country, 2021

Rising prevalence of visual impairment & blindness and growing prevalence of eye disorders are expected to drive the market growth over the forecast period.

The increasing prevalence of visual impairment & blindness is a major factor responsible for growth of the North America visual impairment products and services market. For instance, according to the Centers for Disease Control and Prevention (CDC) Report published in June 2020, approximately 12 million people aged 40 years and above in the U.S. have vision impairment, including 1 million who are blind, 3 million who have vision impairment after correction, and 8 million who have vision impairment due to uncorrected refractive error. Furthermore, according to Canadian National Institute for the Blind in 2021, increasing prevalence of eye disorders such as diabetic retinopathy, refractive error, glaucoma, cataract, and age-related macular degeneration is projected to increase the number of visually impaired people globally, thereby fueling demand for assistive technologies in visual impairment. This will, in turn drive growth of the North America visual impairment products and services market.

Figure 2. North America Visual Impairment Products and Services Market Share (%), by Product Type, 2021

Increasing launches of advanced devices is expected to drive the market growth over the forecast period.

Key players in the market are taking initiatives to promote and provide assistive technology devices to disabled people is expected to drive the North America visual impairment market growth. For instance, in October 2019, Google LLC announced about its 2nd generation google assistance with increased speed. This new assistive technology will help visually impaired people to receive information through voice assistance and can aid visually impaired people to reach their destination via google map using google assistance.

North America visual impairment products and services market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization declared it a public health emergency in 2020. According to the Coronavirus Disease (COVID-19) Weekly Epidemiological Update by the World Health Organization, the number of COVID-19 cases reported in the U.S. as of June 03, 2021 are approximately 32,963,318 confirmed cases with 589,555 deaths. Whereas, approximately 294,270,594 vaccine doses have been administered in the U.S. till May 27, 2021. In Canada, as of June 03, 2021, the confirmed COVID-19 cases are approximately 1,383,214 with 25,566 deaths and total number of vaccine doses administered in Canada are 22,622,529 till May 27, 2021. Due to the increasing prevalence of COVID-19, key players operating in the visual impairment market are focusing on research and development of novel products to support and combat the effect of COVID-19. COVID-19 pandemic has impacted the global economy and in turn, the visual impairment market. Quarantines, traveling constraints, and social distancing measures are likely to lead to a steep decline in business and consumer spending.