Commenting on the report, an analyst from Market Research Future (MRFR)’s team said: The market for Artificial Retina is growing steadily and expected to continue its growth similarly in near future. Artificial retina helps blind patient to restore their vision and they can see object to some extent. The global market for artificial retina is growing at the CAGR of 2.1%. The global market for artificial retina is expected to reach US$ 102.9 million by 2023. Global Artificial Retina Market has been segmented on the basis of type of retinal implants which comprise Epiretinal Implants, Subretinal Implants. On the basis of End user which comprise Eye hospitals, Research laboratories, and others.
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Global Artificial retina Market Players:
There are plenty of large and small market players which operate in this market all over the globe. SECOND SIGHT (US), Nano Retina (Israel), Retina Implant AG (Germany), PIXIUM VISION (France), Bionic Vision Australia
According to World Health Organization (WHO), there are 39 million people are blind and 246 million have low vision. Considering the global scenario of the market, North America is believed to be the largest market for artificial retina. Number of hospitals, developed healthcare infrastructure and facilities are driving the growth for artificial retina in this region. The demand of artificial retina is increasing rapidly in this region. Medical professionals and patients are adopting these innovative devices which is good sign for the growth of the market. Major artificial retina manufacturers like second sight are developing innovative products. Moreover the European market is also growing and second largest market for artificial retina. Major manufacturers are investing money to create more innovative product to grab maximum market share which is slowly creating competition within the market. Europe is hub for healthcare sector. Many reputed hospitals, research centers and medical institutions are present in Europe. Awareness about the advantages of artificial retina is growing and this is key factor for the growth of the market. Artificial retina manufacturers are also developing new and innovative and customized products for hospitals. Technological advancement and innovation are driving the growth for the market. On the other hand, Asia-Pacific market is expected to grow at the fastest pace in the artificial retina during the forecasted period. Growing healthcare sector and developing healthcare infrastructure are the major drivers for the market. APAC is very prominent market and most of the artificial retina manufacturers seems tremendous potential in this market. Artificial retina are developing different product as per the demand of the market. Rest of the World is likely to have a limited but steady growth in the market. As per the statistics of WHO, 90% of visually impaired people lives in low income countries. High cost of the products and treatments, lack of access to technology, lack of medical infrastructure, lack of knowledge and availability of products, and availability of skilled medical professionals are prohibiting the growth of the market in this region.
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The report for Global Artificial Retina Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides detail information and strategies of the top key players in the industry. The report also gives a broad study of the different markets segments and regions.
1. Report Prologue
3. Research Methodology
4. Market Dynamics
5. Market Factor Analysis
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