Artificial Retina Market Forecast and CAGR
According to the latest research by Fact.MR., the artificial retina market is observed steady growth during 2021-2031. Demand for artificial retina expects to grow in the forecast period with steady growth. The growing advancement for ophthalmology research in the devices industry will offer lucrative opportunities in near future.
What is Driving Demand for Artificial Retina?
Artificial retina is a biomedical device that is placed into the eyes by surgical procedure to improve vision loss. This implant convert image into an electrical signal that passes to the nerve cell to identify the image in presence of light for better eyesight vision in future.
The rising geriatric population and tremendous development in innovation with high investment in this field of retina drive the market with great demand. Government initiative in the healthcare sector like giving more funding’s to the healthcare department fuels the growth of this market.
With tremendous research, the various new technological implant has come up vision improvement where artificial retina creates a connection between brain and eye. This technological advancement creates huge opportunities for the manufacturer to come into this market and grow their revenue.
The increasing prevalence of retinal pigments patient will drive sales of Artificial Retina Market
Increasing prevalence of retinal pigmentosa in young adults as well as in geriatric patient from the past few years and also it is going to climb high in the forecast period due to the continuous use of mobile screen or Laptop screen. For instances, According to the biomedical centre around 1.5 Mn patient are suffering from retinal pigmentosa worldwide.
The US and Canada Artificial Retina Market Outlook
The US is one of the largest markets for artificial retina globally. The US Artificial retina market is set to tread on the historic pattern of blockbuster growth during the assessment period 2021-2031.
Great investment in research and development in America by key players make boost the market. More acceptance of medical devices by the American population them the leader in the Artificial retina industry. For instances, Health care contributes approximately 20% of the overall GDP in the U.S according to US statistics. Continuous research is going in this fuel in the US that makes this are the most lucrative market.
For Instance, the Bionic eye got USFDA approval for Argus 2 as the first artificial retina in public use.
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Europe Demand Outlook for Artificial Retina
European countries have a more geriatric population so more vision loss is seen in aged old people that factor can boost the demand in EU countries. Blindness is more seen in the geriatric population around 25% of the total population is aged old people with retina pigmentosa or Age-Related Macular Degeneration (AMD) in the European population.
This creates a great demand For Artificial retina providers and Artificial retina device manufacturers and suppliers, the strong projections for Europe’s healthcare expenditure would offer a lucrative landscape for the expansion of the Artificial retina and also retinal disorder continuously makes a demand.
Who are the Key Manufacturers and Suppliers of Artificial Retina?
Some of the leading manufacturers and suppliers of the artificial retina include
- Second Sight
- Aetna Inc.
- PIXIUM VISION
The epiretinal model artificial retina is mostly used, whereas sub retinal artificial retina demand is also coming in concentration.
An Adaptive Approach to Modern-day Research Needs
Artificial Retina Market Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
By Product Type
- Epiretinal Model
- Suprachoroidal Model
- Subretinal Model
- Diabetic retinopathy
- Retinal Pigmentosa
- Age-Related Macular Degeneration (AMD)
- Ophthalmic Centers
- Research Institutes
- Multi-Speciality clinic
- North America
- Latin America
- South Asia
- East Asia
- The Middle East and Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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