Global Artificial Eye Market Synopsis:
Market Research Future (MRFR) has recently published a report which highlights that the global market for artificial eye will grow at a strong CAGR of 9.6%. The need of responding to the increasing demand for visual prosthetic id driving the market growth. According to World Health Organization (WHO), approximately 250 million people in the age group of 50 years and above are suffering from ophthalmic diseases, and, around 80% of the people in most of the developing countries are suffering from eyesight problems. Nearly 50% of the patients can’t avail of treatment due to high cost associated with it.
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The factors which are responsible for the expansion of market are increasing count of patients suffering from complete or partial blindness, growing geriatric population, large-scale prevalence of diseases affecting eyesight, developments in technology, increasing incidence of diabetes, etc. While the market will witness growth, some of the restraints to the growth of the market are expensive treatment, and, availability of cheap alternative treatments.
Global Artificial Eye Market Segmentation:
By type, global artificial eye market is segmented into non-integrated implants, and, integrated implants. Integrated implants segment is further sub-segmented into hydroxyapatite, porous polyethylene, bioceramic, conical orbital implant, and, others.
By technology, the global artificial eye market has been segmented into electronic, and, mechanical.
By end user, the global artificial eye market is segmented into hospitals, ophthalmology clinics, and, others.
Global Artificial Eye Market Regional Analysis:
By region, the artificial eye market has been segmented into Americas, Europe, Asia Pacific, and, Middle East & Africa. The market for artificial eye in Americas is dominating the global market owing to factors such as adoption of advanced technology, increased expenditure in healthcare, concentration of major market players, reliable and skilled surgeons, widespread prevalence of diabetes, increasing number of patients with ocular diseases, etc. The Europe market accounts for the second largest shareholding due to its early adoption of next-gen technology. There has been a rise in the number of visually impaired patients which is fuelling the demand in this region. Other factors responsible for the growth in this region are increasing number of diabetes patient, growing number of ophthalmic healthcare service providers, etc.
The Europe market is followed by Asia Pacific market with respect to market share and control. The growth of medical tourism is one of the critical drivers of the market. Other factors responsible for growth in this region are developed technology, increasing number of patients, booming healthcare sector, etc. The market in Middle East & Africa will see moderate growth due to growing demand for artificial eyes.
Global Artificial Eye Market Studied By Competitive Dashboard:
Some of the noteworthy players of the market profiled by MRFR in its report are The National Artificial Eye Services (NHS) (UK), COS-MEDIC PTY LTD (Australia), Second Sight (US), International Prosthetic Eye Center (India), Advanced Artificial Eye (US), Marie Allen Ocularist Ltd (Canada), Retina Implant AG (Germany), Pixium Vision (France), Erickson’s Custom Made Artificial Eye (Canada). The key players in the market strive to tap market share control by opting for ways such as investments in research & development, clinical trials, acquisitions & mergers, collaborations, etc.
Second Sight, which is a manufacturer and marketer of visual prosthetics announced that Palmetto GBA (Jurisdiction JJ) is the latest Medicare Administrative Contractor (MAC) to provide coverage for the Argus II Retinal Prosthesis System (Argus II) and the related surgical procedure. Therefore, Alabama, Georgia, and Tennessee will be now included in coverage for the Argus II. As a result, the total coverage of the Argus II to will now stretch over 31 states, two territories and the District of Columbia.
To view the full report, visit at https://www.marketresearchfuture.com/reports/artificial-eye-market-985
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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