Summary – A new market study, titled “Global Artificial Retina Market Research Report—Forecast till 2025” has been featured on WiseGuyReports.
Global Artificial Retina Market is evaluated to exhibit a CAGR of 23.89% to reach USD 24,712.25 Million during the study period. The retina is responsible for converting images into impulses; it is a layer of light-sensitive cells at the back of the eye. A person is unable to see with dam damaged and non-functional retina. The retina deficiency is been seen in the geriatric community however millions of people are suffering from retinal diseases. Artificial retina is a light invasive device made up of many light-sensitive photoreceptors used to help such people to see again and treat their vision problems. It is implanted into the eye it receives signals from a tiny camera mounted on eyeglasses, converts it into an electrical signal, and sends remotely to the microprocessor to develop an image that the person can see apparently.
The Global Artificial Retina Market is ready to witness substantial growth during the research period owing to the rising old age population with non-functional retinas and vision issues, as well as the increasing occurrence of retinitis pigmentosa diseases. The global market growth is been driven by the growing geriatric population and the technological inventions in the bionic eye sector.
The Global Artificial Retina Market has been categorized based on Type, Indication, and End User. Based on the type segment, the global market has been classified into epiretinal implants, subretinal implants, and suprachoroidal implants.
By the indication category, the artificial retina market has been divided into age-related macular degeneration (AMD) and retinitis pigmentosa.
In terms of the end-user perspective, the global artificial retina market has been segmented into ophthalmic centers and hospitals.
The region-specific analysis of the Global Artificial Retina Market has been segregated into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas holds the largest market share of global artificial retina market owing to the increasing prevalence of retinitis pigmentosa and rising geriatric population with age-related retinal degeneration. The American Academy of Ophthalmology research states that presently, about 15 million people in North American are living with age-related retinal degeneration in which around 10% to 15% are neovascular (wet) AMD and ~ 85% to 90% nonexudative (dry) AMD. Additionally, the rising healthcare investment is also evaluated to propel global market expansion.
Europe is accounted for the second-largest share of the global artificial retina market followed by the Asia Pacific during the review period. The regional market is attributed to the rising population with a vision deficiency and rising healthcare expenditure.
Asia-Pacific is anticipated to be the rapidly growing market due to the densely populated economies such as China and India, increasing per capita investment, and the increasing number of ophthalmic centers and clinics in this region. However, the growing old aged population is also driving the regional market growth.
The Key Players in the Global Artificial Retina Market are Second Sight (US), Pixium Vision (France), and Optobionics (US).
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