South Korea Low Vision Aids Market was valued at USD 0.3 Billion in 2022 and is projected to reach USD 0.5 Billion by 2030, growing at a CAGR of 6.0% from 2024 to 2030.
The South Korea Low Vision Aids Market has witnessed significant growth in recent years, driven by increasing awareness about vision impairment and a rising demand for effective solutions. This market is rapidly expanding as industries seek to cater to the needs of individuals with low vision, allowing them to lead more independent and fulfilling lives. Low vision aids are designed to help individuals with partial sight regain functionality in daily activities, whether it be reading, traveling, or interacting with others. The scope of this market spans from electronic devices to magnifiers, and more, serving a broad demographic, including the elderly population, who are more susceptible to vision problems.
As the elderly population in South Korea continues to grow, the demand for low vision aids has surged. In fact, around 15% of the population in South Korea is above 65, and this demographic is particularly vulnerable to age-related vision problems like macular degeneration and glaucoma. This growing need is spurring innovations in low vision technology, such as electronic magnifiers, text-to-speech devices, and specialized software. Industries are continuously researching ways to improve the functionality, portability, and ease of use of low vision devices, making them more accessible to a wider range of individuals.
For industries looking to capitalize on this trend, there is an increasing demand for low vision aids that are not only effective but also affordable. Many of the existing devices are high-tech, but they remain expensive, limiting their accessibility to certain segments of the population. Thus, manufacturers are focusing on cost-effective solutions that can still meet the high demands of functionality, portability, and ease of use. Additionally, user-friendly designs and enhanced durability are key considerations in meeting the specific needs of individuals with low vision.
In South Korea, the government and various non-profit organizations are also contributing to the expansion of the low vision aids market by providing financial support and educating the public on available solutions. This combined effort from both public and private sectors is shaping a future where individuals with low vision have greater access to technology that helps improve their quality of life.
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Eschenbach Optik GmbH
Enhanced Vision
Freedom Scientific
VisionAid International
Jaggi Jaggi
HumanWare Group
COIL Low Vision Products
Wipac Ltd
Emerald Cost Vision Aids
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Low Vision Aids Market
Optical Aids
Electronic Aids
Non-Optical Aids
Individuals
Healthcare Providers
Educational Institutions
Online Retail
Offline Retail
Direct Sales
Reading Aids
Navigation Aids
General Purpose Aids
Low-End Products
Mid-Range Products
High-End Products
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Low Vision Aids Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Low Vision Aids Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Low Vision Aids Market, By Type
6. South Korea Low Vision Aids Market, By Application
7. South Korea Low Vision Aids Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Low Vision Aids Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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