The global retinal implants market reported a large market size in 2022, which is expected to expand significantly in 2032 at a rapid revenue growth rate during the forecast period. Industry analysis indicates that demand for retinal implants has been rising substantially. Their adoption across hospitals and ambulatory surgical centers has been increasing in a parallel manner due to changing market trends and consumption patterns. These factors are expected to continue to support industry as well as market growth over the forecast period.
Retinal implants present a process of restoration of sight of patients blinded by retinal degeneration. Retinal implants are used to partially restore vision of people who have lost their photoreceptors due to diseases like retinitis pigmentosa or age-related macular degeneration. These conditions cause gradual deterioration of photoreceptor cells in the retina, leading to slow and gradual loss of eyesight. However, electrical stimulation of the remaining retinal neurons can help in restoring some vision to patients. Retinal implants are biomedical microchips containing an array of light-sensitive diodes designed to provide visual information into the retina by electrically stimulating the remaining retina neurons.
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Retinal Implants Market Dynamics
Rising numbers of positive outcomes for retinal implants and technological advancements with the potential of helping patients with several degenerative conditions to regain vision are expected to boost market growth. Increasing geriatric population, coupled with rise in cases of degenerative diseases, is a major growth-driving factor for the global retinal implants market.
Retinal implants are available in two categories – epiretinal implants, which are fixed on the retina and subretinal implants, which are fitted behind the retina. Availability of a variety of the retinal products is also boosting market growth, as it gives consumers options. Implantable miniature telescope (IMT) is a retinal implant device that is expected to witness highest CAGR growth during the forecast period. IMT is used for the treatment of end-stage AMD (Age-related Macular Degeneration) in patients. Initiatives and policies by governments across the globe for increasing investment and creating awareness about the use of retinal implants are further driving global market growth.
Retinal Implants Market Regional Outlook
North America has accounted for largest retinal implants market share globally, owing to high prevalence of degenerative conditions in the region and advancements in healthcare technology. Rising cases of age-related macular degeneration (AMD) in the U.S is also boosting market growth of retinal implants in the region. The Asia-Pacific region is expected to exhibit significant growth during the forecast period due to the presence of highly populated countries with a large geriatric population in the region. Increasing awareness and rising healthcare expenditure by governments and private organizations in the region are also expected to provide a major thrust to the Asia-Pacific market.
Retinal Implants Market:
The report contains an industry analysis of recent developments and trends in the global retinal implants market and strategies adopted by key players operating in the market. It also includes information on collaborations, business contracts, mergers and acquisitions, and joint ventures.
Key Players Operating in Global Retinal Implants Market:
- Second Sight Medical Products, Inc.
- VisionCare, Inc.
- Pixium Vision
- Nano Retina
- Labtician Ophthalmics, Inc.
Retinal Implants Market: Segmentation
This report studies and forecasts the retinal implants market at global, regional, and country levels. The report contains an analysis of market trends in each segment for the period 2023 to 2032. For this study, has segmented the global retinal implants market based on device, end user, and region as follows –
Device Outlook (Revenue, USD Million; 2023–2032)
- Retina Implant Alpha AMS
- Implantable Miniature Telescope
- Argus II
- Other devices
End User Outlook (Revenue, USD Million; 2023–2032)
- Ambulatory Surgical Centers
- Other End Users
Regional Outlook (Revenue, USD Million; 2023-2032)
- North America
- Rest of Europe
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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