Market Insights
Millions of people around the world suffer from retinal degenerative diseases at varying degrees, which in some instances, lead to blindness. Retinal degenerative disease is an enervating disease that interferes with normal functions and has a significant impact on quality of life. It causes damage to the photoreceptor cells of the retina, which, when prolonged, in most instances, leads to complete vision loss.
The most common retinal degenerative diseases are age-related macular degeneration (AMD) and retinitis pigmentosa (RP). AMD is a degenerative disease that causes progressive loss of central vision, while RP is a group of genetic eye conditions that, as they progress, cause night blindness, followed by tunnel vision over the years.
As per the World Health Organization, AMD ranks third as a cause of blindness and a primary reason in industrialized countries, contributing to a 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 people 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 for the complete restoration of retinal function that has yet been established. Artificial retinas are the latest medical tool that could help AMD or RP patients see objects. Artificial retinas are placed either on the internal surface of the retina or on its outer surface, 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, and 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 that 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 retinas is expanding steadily and is expected to expand further in the near future.
Approved artificial retinas are as follows:
- The only FDA-approved (2013) and CE-approved (2011) implant is the Argus II (Second Sight).
- Alpha-IMS (Reina Implant): The second approved implant by CE (2013)
The global artificial retina market is segmented as follows:
Types 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
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-east Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
Key players identified for the 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 the following:
- An overview of the global markets for artificial retina
- Market trends assessment for the period 2015-2025, including historical data for 2015 and 2016, as well as projections through 2025, with respective CAGRs from 2017 to 2025.
- Qualitative assessment tools such as market drivers, challenges, and opportunities
- Market competition examination tools such as market share analysis and fractal map evaluation
- Focus on each level of market segmentation based on product approvals, launches, 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
