VISION IMPAIRMENT MARKET ANALYSIS

Market Challenges And Opportunities

• Lack of understanding of smartphone-based assistive technologies 
• Stringent global regulatory policies

Global Vision Impairment Market – Impact of Coronavirus (COVID-19) Pandemic

Coronavirus disease 2019 (COVID-19) is a highly contagious infectious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). According to the World Health Organization (WHO), as of Deccember 18, 2022, 649,243,663 people are affected worldwide.

Global Vision Impairment Market: Restraint

Lack of understanding about smartphone-based assistive technologies and stringent global regulatory policies

The major factors that can hamper the growth of the global vision impairment market over the forecast period include a lack of understanding about smartphone-based assistive technologies and to overcome the lack of understanding about smartphone-based assistive technologies a proper instruction manual, tutorial or customer service should be provided with the product for easy understanding 

Furthermore, stringent global regulatory policies on quality assessments of medical device regulation & approval in some countries and increased supply chain security issues across emerging economies, which have a large impact on the global visual impairment market. For instance, according to the U.S. FDA(Food and Drug Administration), as device class increases from Class I, to Class II to Class III, the regulatory controls also increase, with Class I devices subject to the least regulatory control, and Class III devices subject to the most stringent regulatory control