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Global Low Vision Aids Market – Industry Trends and Forecast to 2030

  • Medical Devices
  • Upcoming Report
  • Dec 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Low Vision Aids Market – Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR - 7.5% Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 541.16 Million
Diagram Market Size (Forecast Year) USD 965.14 Million
Diagram CAGR 7.5%

Global Low Vision Aids Market, By Type (Optical Aids, Non-Optical Aids, Electronic Aids), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Optical Stores, Online Pharmacies) – Industry Trends and Forecast to 2030.

 Low Vision Aids Market Analysis and Size

The rising number of patients suffering from low vision conditions, the increasing occurrences of lifestyle diseases such as diabetes, the growing prevalence of geriatric population around the world, and the increasing need for advanced treatment methods are some of the major and critical factors that will likely boost the growth of the low vision aids market in the projected timeframe of 2023-2030. However, an increase in the number of research activities for the development of advanced devices, as well as the prevalence of well-established and improved healthcare infrastructure, will contribute to the growth of the low vision aids market during the forecast period.

Data Bridge Market Research analyses that the low vision aids market value is USD 541.16 million in 2022, is expected to reach USD 965.14 million by 2030, at a CAGR of 7.5% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Low Vision Aids Market Scope and Segmentation  

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015 - 2020)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Type (Optical Aids, Non-Optical Aids, Electronic Aids), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Optical Stores, Online Pharmacies)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

Eschenbach Optik of America, Inc. (Germany), Enhanced Vision (U.S.), Freedom Scientific Inc. (U.S.), VisionAid International Ltd (U.K.), HumanWare Group (Canada), Wipac Technology Ltd. (U.K.), Zoomax Technology Co., Limited (U.S.), Quantum Corporation (U.S.), Vispero group of companies (U.S.), LS&S, LLC. (U.S.), Maxi-Aids (U.S.), Prkamya Visions (India)

Market Opportunities

  • Increasing occurrences of lifestyle diseases

Market Definition

Low vision is a term used to describe a condition of visual impairment that cannot be corrected with contact lenses, glasses, medications, or eye surgery, and individuals with low vision are unable to perform tasks adequately on a regular basis. Eye disorders and illnesses such as glaucoma, macular degeneration, cataracts, stroke, diabetic retinopathy, and retinitis pigmentosa typically cause this disorder. They are used to assist people with their daily activities.

Low Vision Aids Market Dynamics

Drivers

  • Surging volume of patients with low vision aids

There are various types and degrees of vision impairment. A person's vision problem cannot be predicted using visual acuity. This condition is typically caused by glaucoma, macular degeneration, cataracts, stroke, diabetic retinopathy, and retinitis pigmentosa, among other eye conditions and diseases. Low vision aids are used to assist people with daily activities. These are the certain factors which propel the growth of market.

Opportunities

  • Increasing occurrences of lifestyle diseases

The rising number of patients suffering from low vision conditions, the increasing occurrences of lifestyle diseases such as diabetes, the growing prevalence of geriatric population around the world, and the increasing need for advanced treatment methods are some of the major and critical factors that will likely boost the growth of the low vision aids market in the projected timeframe of 2023-2030.

Restraints/Challenges

  • Limited field of vision

Some of the restraint factors for the growth of the low vision aids market in the above-mentioned forecast period are limited field of vision and difficult performing tasks under the magnifier. The increasing difficulty of working with some surfaces will be the most significant and immediate challenge to the market's growth.

This low vision aids market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the low vision aids market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Low Vision Aids Market Scope

The low vision aids market is segmented on the basis of type, distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

  • Optical Aids
  • Non-Optical Aids
  • Electronic Aids

Distribution Channel

  • Hospital Pharmacies
  • Retail Pharmacies
  • Optical Stores
  • Online Pharmacies

Low Vision Aids Market Regional Analysis/Insights

The low vision aids market is analyzed and market size insights and trends are provided by country, type, distribution channel as referenced above.

The countries covered in the low vision aids market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the low vision aids market due to the rising health awareness among people and the prevalence of well-established infrastructure.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 due to the growing prevalence of geriatric population and rising number of high patient population in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Healthcare Infrastructure Growth Installed base and New Technology Penetration

The low vision aids market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for low vision aids market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the low vision aids market. The data is available for historic period 2011-2021.

Competitive Landscape and Low Vision Aids Market Share Analysis

The low vision aids market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to low vision aids market.

Some of the major players operating in the low vision aids market are:

  • Eschenbach Optik of America, Inc. (Germany)
  • Enhanced Vision (U.S.)
  • Freedom Scientific Inc. (U.S.)
  • VisionAid International Ltd (U.K.)
  • HumanWare Group (Canada)
  • Wipac Technology Ltd. (U.K.)
  • Zoomax Technology Co., Limited (U.S.)
  • Quantum Corporation (U.S.)
  • Vispero group of companies (U.S.)
  • LS&S, LLC. (U.S.)
  • Maxi-Aids (U.S.)
  • Prkamya Visions (India)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The low vision aids market value was USD 541.16 million in 2022.
The low vision aids market is projected to grow at a CAGR of 7.5% during the forecast period of 2023-2030.
The Low-Vision Aids Market report covers the segments type and distribution channel.
North America dominates the low vision aids market due to the rising health awareness among people and the prevalence of well-established infrastructure.
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