Artificial retina market expected to Grow at 7.5% by 2031,Millions of people around the world suffer from retinal degenerative diseases at varying degrees which at some instances leads to blindness. Retinal degenerative disease is an enervating disease that affects the normal functionalities and has a great impact on the quality of life. It causes damage of the photoreceptor cells of the retina which when prolonged in most instances leads to complete vision loss.

The most common retinal degenerative disease are Age-related Macular Degeneration (AMD) and Retinitis Pigmentosa (RP). AMD is a degenerative disease that causes progressive loss of the central vision while RP is a group of genetic eye conditions which as progresses causes night blindness followed by tunnel vision over the years.

As per World Health Organization AMD ranks third as a cause of blindness and a primary reason in industrialized countries constituting to global blindness prevalence of 8.7%. AMD was prevalent among 170 million people worldwide in 2014 and is estimated to increase to 196 million by 2020 and 288 million by 2040. RP was prevalent among 1.5 million worldwide in 2014. Most patients with RP are considered legally blind by the age of 40.

There is no such designed set of pharmacological treatments or complete cure yet established for the complete restoration of retinal function. Artificial retinas are the latest medical tool that could help AMD or RP patients to see objects. Artificial retinas are placed either in the internal surface of the retina or outer surface of retina which converts light into an electrical signal that stimulates retinal neurons. The artificial retinas are of two types; a) epiretinal implants which communicate directly with the ganglion and bipolar cells, b) sub-retinal implants which replace photoreceptors in the retina.

A lot of players in the artificial retina market are making investments in R&D activities for improved and better devices which would cater to conditions like AMD and RP. North America and Europe would be major players in the artificial retinal market. Every year 50,000 people go blind in North America thus creating growth opportunities for artificial retinas in this region. The global market for artificial retina is growing steadily and would continue with the same growth in the near future.

Approved Artificial Retinas are as follows:

Argus II (Second Sight): The only FDA approved (2013) and CE approved (2011) implant.

Alpha-IMS (Reina Implant): The second approved implant by CE (2013)

Key players identified for Artificial Retina Market Include but are Not Limited to:

Altris, Inc., Axorus, Bionic Vision Technologies, Labtician Ophthalmics, Inc., LambdaVision, Inc., Nano Retina, Nidek Co., Ltd., Optobionics, Pixium Vision, Vivani Medical Inc. And Other Notable Players.

This report offers:

• An overview of the global markets for artificial retina
• Market trends assessment for the period 2015-2025, with historical information for 2015, & 2016, and projections through 2025, with respective CAGRS during 2017-2025
• Qualitative assessment tools such as market drivers, challenges and opportunities
• Market competition scrutiny tools such as market share analysis, and fractal map assessment
• Focus on each level of market segmentation based on product approvals, launch, and current and anticipated market dynamics
• A general overview of the industry structure
• Company profiles highlighting key information about the major players operating in the artificial retina market

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Artificial Retina market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Artificial Retina market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Artificial Retina market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Artificial Retina market?
• Which is the largest regional market for Artificial Retina market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Artificial Retina market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Artificial Retina market worldwide?