Overview:
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)
The Global Artificial Retina Market is segmented as Follows:
- Type of Artificial Retinas
- Epiretinal implants
- Sub retinal implants
- Type of retinal degenerative disease
- Age-related Macular Degeneration (AMD)
- Retinitis Pigmentosa (RP)
- Geography
- North America
- Europe
- UK
- Germany
- Rest of Europe
- APAC
- Latin America
- Middle East and Africa
Key players identified for Artificial Retina Market Include but are Not Limited to:
The key players in the market are Second sight (California), Intelligent Medical implants Germany), Optobionics (Chicago), Nidek (Japan), Nano Retina (Israel), Retina Implant AG (Germany), PIXIUM VISION (France) and Bionic Vision (Australia).
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
