The market for Artificial Retina Market is expected to reach USD$ XX Bn in 2025.
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.
Types of Artificial Retinas
Type of retinal degenerative disease
Geography
North America
Europe
APAC
Latin America
Middle East and Africa
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).
The market for Artificial Retina Market is expected to reach USD$ XX Bn in 2025.
The Artificial Retina Market is expected to see significant CAGR growth over the coming years, at XX%.
The report is forecasted TO 2025.
The base year of this report is 2024.