Artificial Retina Market Size, Growth and Trends Analysis, By Type of Retinal Implant (Epiretinal Implants, Subretinal Implants), Top Leading Players, Regional Insights and End User, Forecast To 2023
The Global Artificial Retina Market size is projected to reach USD 102.9 million at a CAGR of 2.1% 2023 says Market Research Future (MRFR). The improved detection methods for blindness has led to the development of solutions that can treat or prevent total blindness in individuals. Artificial retina market shows significant growth owing to escalation in the number of cases related to retinal degeneration and rising investment towards the research and development area of the market is expected to play a vital role in generating novel growth prospects in the forecast period.
A research team has recently demonstrated that high-performance filter less artificial human photoreceptors can be created by integrating a fresh optical metal/dielectric/metal microcavity structure with vacuum-deposited perovskite photo response devices. The artificial photoreceptors demonstrate exceptional performance comparable to the human eyes such as low noise and high dynamic range. Some features, such as the response time, even better the response from biological human photoreceptors.
Scientists have created an ultrathin artificial retina that could offer a better substitute to the visual implants presently available to the blind. The invention could allow millions of people with retinal disease to recover their sight. Also, the implant could be used to supervise activity in the brain and heart. 2D materials such as molybdenum desulphated and graphene were used to create an artificial retina.
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Artificial Retina Market Regional Insights
The regional evaluation of the artificial retina market covers regions such as Europe, the Americas, Asia Pacific, and the rest of the world. The North American region is estimated to be the major market for artificial retinas. The European region market is also rising and is the next major market in the artificial retina market. On the other hand, the Asia Pacific market is projected to develop at a swift pace in the artificial retina market through the forecasted period. The rest of the world segment is expected to have restricted but stable growth in the artificial retina market in the period of the forecast.
Artificial Retina Market Competitive Analysis
The amplified demand levels prevailing in the artificial retina market are expected to induce a sustainable business environment fostering constructive progress. The favorable alignment of the consumer buying patterns is expected to increase the rate of advancement of the market. The positive shift in regulations in the market is anticipated to create a conducive environment for progress in the coming years. The incidence of favorable market prospects is anticipated to further create profitable growth outcomes in the artificial retina market. The artificial retina market is expected to exhibit an increased growth momentum due to the presence of positive market growth indicators. The synchronization achieved in terms of the micro and macro growth factors is projected to strengthen the artificial retina market expansion further. A significant ascent in the number of promoters in the market is estimated to craft a beneficial for the development of the market in the projected period.
The top players in artificial retina industry are Nano Retina (Israel), PIXIUM VISION (France), SECOND SIGHT (US), Retina Implant AG (Germany) and Bionic Vision Australia to name a few.
Artificial Retina Market Segmentation:
Global artificial retina market is segmented based on
- End use
By type, the artificial retina market is segmented into retinal implants, the retinal implants is further segmented into subretinal implants and epiretinal Implants.
By end user, the artificial retina market is segmented into research laboratories, eye hospitals, and others.
By regions, the artificial retina market is segmented into Europe, the Americas, Asia Pacific, and the rest of the world.
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