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
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Optical Aids, Non-Optical Aids, Electronic Aids), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Optical Stores, Online Pharmacies)
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Countries Covered
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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
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Market Players Covered
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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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Market Opportunities
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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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