Artificial Retina Market CAGR is expected to be 22.35% during the forecast period and the market size is expected to reach nearly USD 33706.62 Mn. by 2027.To know about the Research Methodology :- Request Free Sample Report
Artificial Retina Market Introduction
Individuals who are blind due to retinal diseases have an artificial retina implanted into their eyes. Retinitis pigmentosa (RP) is an inherited eye disorder that causes the rod photoreceptor cells in the retina to degenerate over time, resulting in severe vision loss. According to the World Health Organization (WHO), nearly 1.3 billion people are estimated to have some form of vision impairment. As a result, the market for artificial retina is expected to see significant growth over the forecast period due to the rising prevalence of visually impaired patients.Artificial Retina Market Dynamics
A key artificial retina market trend is product innovation. Over the last few years, the ophthalmic industry has become more competitive. Established ophthalmic product categories have matured, resulting in a small market opportunity for new entrants. In order to increase their global business presence, most companies are focusing on price level strategy. However, during the forecast period, the pricing trend may benefit the company on a smaller scale. The majority of major players stand to benefit from investing in R&D activities in order to take advantage of long-term lucrative opportunities resulting from patent products and innovative technologies. In recent years, the artificial retina market has seen the emergence of a number of startups, particularly in the high-growth markets of the United States and Israel. In the near future, artificial retina would generate value-oriented customers for these manufacturers. In the near future, the eye care market is expected to grow due to the rising prevalence of visually impaired people combined with rising healthcare expenditure in both developed and developing countries. According to government statistics, the healthcare sector is expected to contribute around 20% to the overall GDP in the United States. Furthermore, due to the implementation of Medicare and Obamacare in the country, healthcare spending has increased. In Europe, a similar trend is evident, albeit at a slower rate. Medical device companies' joint collaboration with government-sponsored projects is expected to drive the artificial retina market even further. The DOE Artificial Retina Project, for example, is a US government initiative to develop artificial retinas for visually impaired people. Though the industry is expected to grow at an exponential rate, the industry's regulatory process, coupled with patent issues and high R&D spending, may slow overall growth in the coming years. Before entering into a market, companies must evaluate their business models and economic concerns.Artificial Retina Market Segment Analysis
Over the forecast period, the epiretinal implants segment is expected to account for a significant revenue share of xx%. Epiretinal implants are placed on the top surface of the retina, directly stimulating ganglion cells and bypassing all other retinal layers to introduce visual information into the retina. The Argus retinal prosthesis, also known as a bionic eye, was the first epiretinal implant. It is an electronic retinal implant designed to improve the vision of people with severe cases of retinitis pigmentosa (RP). In the coming years, the above-mentioned factors are expected to drive epiretinal implant segment growth. In the years ahead, the demand for artificial retina in ophthalmic clinics is expected to increase significantly. Ophthalmic clinics specialize in the medical diagnosis and management of complex eye-related diseases, and they provide surgeries, cutting-edge infrastructure, and routine eye care. Ophthalmic clinics also provide advanced eye care treatments such as the Argus II, a retinal implant that restores partial vision to people with late-stage retinitis pigmentosa. Furthermore, the presence of trained healthcare professionals in these facilities is expected to boost artificial retina market growth during the forecast period.
Artificial Retina Market Regional Insights
Over the forecast period, the artificial retina market in the United States is expected to grow at a healthy rate. The US government's increased spending on healthcare research and development is a major driver of the artificial retina market's growth. In addition, the collaboration between the US government and major medical device manufacturers aided in the launch of the Artificial Retina Project. This is a multi-institutional effort to advance the development of an implantable microelectronic retinal prosthesis with the goal of assisting many visually impaired people. Furthermore, the growth of the artificial retina industry in the United States is expected to be aided by an increase in the number of vision-impaired people, as well as increased public awareness of advanced treatment options. Because of the rising number of visually impaired people in the country, the artificial retina market in India is expected to grow significantly over the forecasted timeframe. Several government initiatives, such as the Ministry of Health and Family Welfare's (MHFW)-sponsored "National Program for Control of Blindness and Visual Impairment," have been working for years to raise community awareness of blindness and visual impairment. Furthermore, in the near future, India's artificial retina industry is expected to benefit from increased government support, improved healthcare infrastructure, and rapid economic development.Artificial Retina Market Report Scope: Inquire before buying
Global Artificial Retina Market Report Coverage Details Base Year: 2021 Forecast Period: 2022-2027 Historical Data: 2017 to 2021 Market Size in 2021: USD 10048.27 Mn. Forecast Period 2022 to 2027 CAGR: 22.35% Market Size in 2027: USD 33706.62 Mn. Segments Covered: by Type • Epiretinal Implants • Subretinal Implants • Suprachoroidal Implants • Others by End User • Hospitals • Ophthalmic Clinics • Research Institutes • Others Artificial Retina Market, by Region
• North America • Europe • South America • MEA • Asia PacificArtificial Retina Market Key Players:
• Aetna Inc. • Bionic Vision Australia • BrightFocus Foundation • Kurzweil Network • Nano Retina • Optobionics • Pixium Vision • Retina Consultants of Boston • Retina Implant AG • Second Sight • Orient Europharma Co., Ltd • Tecnosalud S.A • Leben Care • Altris, Inc. Frequently Asked Questions: 1. Which region has the largest share in Global Artificial Retina Market? Ans: United States region holds the highest share in 2021. 2. What is the growth rate of Global Artificial Retina Market? Ans: The Global Artificial Retina Market is growing at a CAGR of 22.35% during forecasting period 2022-2027. 3. What is scope of the Global Artificial Retina market report? Ans: Global Artificial Retina Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Artificial Retina market? Ans: The important key players in the Global Artificial Retina Market are – Aetna Inc., Bionic Vision Australia, BrightFocus Foundation, Kurzweil Network, Nano Retina, Optobionics, Pixium Vision, Retina Consultants of Boston, Retina Implant AG, Second Sight, Orient Europharma Co., Ltd, Tecnosalud S.A, Leben Care, Altris, and Inc. 5. What is the study period of this market? Ans: The Global Artificial Retina Market is studied from 2021 to 2027.
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Artificial Retina Market Size, by Market Value (US$ Mn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2021 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Artificial Retina Market 3.4. Geographical Snapshot of the Artificial Retina Market, By Manufacturer share 4. Global Artificial Retina Market Overview, 2021-2027 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global Artificial Retina Market 5. Supply Side and Demand Side Indicators 6. Global Artificial Retina Market Analysis and Forecast, 2021-2027 6.1. Global Artificial Retina Market Size & Y-o-Y Growth Analysis. 7. Global Artificial Retina Market Analysis and Forecasts, 2021-2027 7.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 7.1.1. Epiretinal Implants 7.1.2. Subretinal Implants 7.1.3. Suprachoroidal Implants 7.1.4. Others 7.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 7.2.1. Hospitals 7.2.2. Ophthalmic Clinics 7.2.3. Research Institutes 7.2.4. Others 8. Global Artificial Retina Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2021-2027 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Artificial Retina Market Analysis and Forecasts, 2021-2027 9.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 9.1.1. Epiretinal Implants 9.1.2. Subretinal Implants 9.1.3. Suprachoroidal Implants 9.1.4. Others 9.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 9.2.1. Hospitals 9.2.2. Ophthalmic Clinics 9.2.3. Research Institutes 9.2.4. Others 10. North America Artificial Retina Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2021-2027 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Artificial Retina Market Analysis and Forecasts, 2021-2027 11.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 11.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 12. Canada Artificial Retina Market Analysis and Forecasts, 2021-2027 12.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 12.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 13. Mexico Artificial Retina Market Analysis and Forecasts, 2021-2027 13.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 13.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 14. Europe Artificial Retina Market Analysis and Forecasts, 2021-2027 14.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 14.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 15. Europe Artificial Retina Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2021-2027 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Artificial Retina Market Analysis and Forecasts, 2021-2027 16.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 16.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 17. France Artificial Retina Market Analysis and Forecasts, 2021-2027 17.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 17.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 18. Germany Artificial Retina Market Analysis and Forecasts, 2021-2027 18.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 18.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 19. Italy Artificial Retina Market Analysis and Forecasts, 2021-2027 19.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 19.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 20. Spain Artificial Retina Market Analysis and Forecasts, 2021-2027 20.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 20.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 21. Sweden Artificial Retina Market Analysis and Forecasts, 2021-2027 21.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 21.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 22. CIS Countries Artificial Retina Market Analysis and Forecasts, 2021-2027 22.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 22.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 23. Rest of Europe Artificial Retina Market Analysis and Forecasts, 2021-2027 23.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 23.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 24. Asia Pacific Artificial Retina Market Analysis and Forecasts, 2021-2027 24.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 24.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 25. Asia Pacific Artificial Retina Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2021-2027 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Artificial Retina Market Analysis and Forecasts, 2021-2027 26.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 26.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 27. India Artificial Retina Market Analysis and Forecasts, 2021-2027 27.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 27.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 28. Japan Artificial Retina Market Analysis and Forecasts, 2021-2027 28.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 28.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 29. South Korea Artificial Retina Market Analysis and Forecasts, 2021-2027 29.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 29.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 30. Australia Artificial Retina Market Analysis and Forecasts, 2021-2027 30.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 30.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 31. ASEAN Artificial Retina Market Analysis and Forecasts, 2021-2027 31.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 31.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 32. Rest of Asia Pacific Artificial Retina Market Analysis and Forecasts, 2021-2027 32.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 32.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 33. Middle East Africa Artificial Retina Market Analysis and Forecasts, 2021-2027 33.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 33.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 34. Middle East Africa Artificial Retina Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2021-2027 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Artificial Retina Market Analysis and Forecasts, 2021-2027 35.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 35.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 36. GCC Countries Artificial Retina Market Analysis and Forecasts, 2021-2027 36.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 36.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 37. Egypt Artificial Retina Market Analysis and Forecasts, 2021-2027 37.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 37.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 38. Nigeria Artificial Retina Market Analysis and Forecasts, 2021-2027 38.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 38.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 39. Rest of ME&A Artificial Retina Market Analysis and Forecasts, 2021-2027 39.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 39.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 40. South America Artificial Retina Market Analysis and Forecasts, 2021-2027 40.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 40.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 41. South America Artificial Retina Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2021-2027 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Artificial Retina Market Analysis and Forecasts, 2021-2027 42.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 42.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 43. Argentina Artificial Retina Market Analysis and Forecasts, 2021-2027 43.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 43.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 44. Rest of South America Artificial Retina Market Analysis and Forecasts, 2021-2027 44.1. Market Size (Value) Estimates & Forecast By Type, 2021-2027 44.2. Market Size (Value) Estimates & Forecast By End User, 2021-2027 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global Artificial Retina Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile: Key Players 45.3.1. Aetna Inc 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. Bionic Vision Australia 45.3.3. BrightFocus Foundation 45.3.4. Kurzweil Network 45.3.5. Nano Retina 45.3.6. Optobionics 45.3.7. Pixium Vision 45.3.8. Retina Consultants of Boston 45.3.9. Retina Implant AG 45.3.10. Second Sight 45.3.11. Orient Europharma Co., Ltd 45.3.12. Tecnosalud S.A 45.3.13. Leben Care 45.3.14. Altris, Inc. 45.3.15. Other Key Players 46. Primary Key Insight