The global Retinal Implant Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
Global Retinal Implant Market is expected to reach USD 74.7 million by 2026. A retinal implant is also termed as “the Argus® II retinal prosthesis system” or “bionic eye”. These implantable devices are planned to supplant photo transduction within the eyes of persons with major retinal illnesses such as age-related macular degeneration or retinitis pigmentosa.
Key Players:
- Second Sight Medical Products, Inc.
- Retina Implant AG
- VisionCare Ophthalmic Technologies.
- Philips Healthcare
- Hamilton Medical AG
- Bionic Vision Australia
- Dräger Medical GmbH
- Visus Technology, Inc.
- Abbott Vascular
- Bionic Eye Technologies, Inc.
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Growth Drivers:
The factors that are playing a major role in the growth of retinal implant market are rising occurrence of degenerative conditions, increasing disposable income in emerging countries, growing aging population, and development of enhanced and efficient technology. However, the high cost of research, lack of trained personnel's, and development and lack of medical reimbursement are the factors that may restrain overall market growth in the years to come. Retinal implant industry is segmented based on type, device type, application, and region.
Application Outlook:
- Total Blindness
- Retinal Degenerative Diseases
- Others
The retinal degenerative sector accounted for the substantial market share of the retinal implant and is estimated to lead the overall market in the years to come.
Type Outlook:
- Suprachoroidal Implants
- Epiretinal Implants
- Subretinal Implants
Device Type Outlook:
- Retina Implant Alpha AMS
- Implantable Miniature Telescope
- Argus II
Regional Outlook:
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
Globally, North America accounted for the significant market share of the retinal implant and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be developed infrastructure, growing eye-related diseases, and rising use of technologically enhanced devices. The United States is a major consumer of the retinal implant in this region. Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth.
Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The aspects that may be ascribed to the growth comprise growing geriatric population, growing awareness among consumers regarding eye care, growing number of patients suffering from retinitis pigmentosa (RP) and age-related macular degeneration (AMD), and developing healthcare infrastructure. The developing countries like India and China are the major consumers of the retinal implant in this region.
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