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Artificial Intelligence Is Fastest Growing Segment Fueling The Growth Of Vision Impairment Market

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samruddhicmi12
 Artificial Intelligence Is Fastest Growing Segment Fueling The Growth Of Vision Impairment Market

The Global Vision Impairment Market is estimated to be valued at US$ 5388.5 Mn in 2023 and is expected to exhibit a CAGR of 8.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview:

The vision impairment market focuses on products such as magnifiers, Braille displays and note takers, Braille embossers, signature guides, optical character recognition devices, and screen magnifiers which help people with low vision. These products help improve people's ability to read, write and navigate independently thus improving their quality of life.


Market key trends:

One of the key trends in the vision impairment market is the increasing adoption of Artificial Intelligence based assistive devices. AI technologies allow the development of products that can recognize text, describe visual scenes verbally for people with low or no vision. Machine learning algorithms further help improve the accuracy of these devices over time based on user interactions. AI assistants powered by advanced computer vision and natural language processing are being utilized for vision screening, navigation assistance and to perform daily tasks independently for people with vision impairment. This is expected to significantly drive the demand of AI enabled assistive devices in the forecast period.



Segment Analysis

The global vision impairment market is segmented into low vision and blindness. The low vision segment dominated the market in 2022 and is expected to continue its dominance over the forecast period. This is owing to the higher prevalence of conditions causing low vision such as cataract, glaucoma, age-related macular degeneration as compared to those causing blindness.


Key Takeaways

The Global Vision Impairment Market Analysis is expected to witness high growth, exhibiting a CAGR of 8.8% over the forecast period of 2023 to 2030, due to the increasing geriatric population worldwide and the associated rise in the prevalence of vision impairment.


Regional analysis

North America dominated the global market in 2022 and is expected to continue to be the fastest growing region over the forecast period. This is owing to the high awareness regarding vision loss and availability of developed healthcare infrastructure along with favorable reimbursement policies. Asia Pacific is expected to witness the highest growth rate over the forecast period owing to large patient pool and improving healthcare infrastructure in countries like China and India.


Key players

Key players operating in the vision impairment market are Adaptivation, Inc., AbleNet, Inc., Amedia Corporation, Access Ingenuity, LVI Low Vision International, American Thermoform, Cambium Learning, Dolphin Computers Access Ltd., HumanWare Group, ViewPlus, VFO, Eyedaptic, Inc., and Envision. Adaptivation, Inc. dominated the market in 2022 owing to its strong product portfolio for low vision devices.

Read More - https://www.dailyprbulletin.com/vision-impairment-market-share-size



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