Artificial Eye Market Trends and Forecast (2021-2031)
The Artificial Eye Market is expected to register a CAGR of 6.2% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Type ( Non-Integrated Implants, Integrated Implants ), Further, the report is segmented on the basis of Technology ( Electronic and Mechanical). The global analysis is further broken-down at regional level and major countries. The report offers the value in USD for the above analysis and segments.
Purpose of the ReportThe report Artificial Eye Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Artificial Eye Market Segmentation
Type- Non-Integrated Implants
- Integrated Implants
- Electronic and Mechanical
Strategic Insights
Artificial Eye Market Growth Drivers- Rising Incidence of Eye Disorder: In contrast to prosthetics, these aids – artificial eyes – are providing a new life to a large section of the population who have lost their eye sight due to various ailments. This has led to an increase in demand because what used to be seen as a luxury has now been perceived as a necessity. There is a rise in age-related eye diseases as the world population continues to age. Given that the older generation is more prone to vision impairment, the demand for artificial eyeballs and associated technologies is more pronounced. The growing prevalence of the eye disorders have remained a major factor for the expansion of artificial eye market.
- Increased Awareness and Acceptance: With the help of technologies more improved and functional than those before, realistic artificial eyes have endeared themselves to many and thus stigmatization has become less and less common over time. Other factors that foster the acceptance of cosmetic contact lenses are the existence of support groups for the people who lose their sight, for they share information and resources. Uplifted awareness and acceptability are the essentials of the economies of scope for the artificial eye market.
- Enhanced Surgical Techniques: Employment of modern imaging systems and robotic support among others has raised the effectiveness and safety of artificial eye implantation and thus patients and surgeons are able to make the operation with confidence. Presence of comprehensive training on new styles and devices for surgeons leads to high standards in the profession and fast adoption of superior technology to Ende attain artificial eyes. Enhanced surgical techniques are significantly driving the growth of the artificial eye market.
- Increased Focus on Aesthetic and Functional Quality: Enhanced materials and ergonomic designs facilitate better comfort and fit, making the use of artificial eyes more convenient and suitable for prolonged use. There arise such issues as stigma and landscape composition of artificial eyes that tap the interest of patients, and manufacturers’ resources are aimed at overcoming such issues. Furthermore, technology advancement in areas like 3D printing facilitates customized artificial eyes that greatly improve the aesthetic appeal of the artificial eye used. This increasing emphasis on both aesthetic and functional performance is one of the emerging phenomenons in artificial eye industry.
- Global Market Expansion: Countries in regions such as Asia Pacific, Latin America and Africa are enjoying tremendous economic development and healthcare modernization, which results in a rise in the use of artificial eye solutions. Due to the awareness of eye health and treatment solutions available in the developing countries, there is more artificial eye seeking individuals which increases the market. This trend of globalization – both its market reach for the manufacturers and the ways it enhances the quality of life for vision impaired people globally.
- Integration of Smart Technologies: These wearables are also able to monitor the recurrence of eyeglass use and engagement with the environment thus helping the healthcare professionals in compiling information used for the individual patient care and treatment modification. AI enable that one is able to adjust the settings to suit the particular user by memorizing the users’ preferences and even adjusting the degree of brightness and focus automatically. The push towards smart technology integration increases not only the efficiency of artificial eyes but also their market potential.
- Growing Healthcare Access: Expanding coverage of health insurance plans to include artificial eye treatments and devices eliminates any financial constraints and hence such remedies become available to a larger population. Thanks to telemedicine, which enables patients in the hinterland or other underserved locations to consult specialists, awareness and even access to artificial eye solutions has improved without the need to travel far distances. Increasing healthcare access offers great expansion prospects for the artificial eye market.
- Technological Innovations: Biocompatible materials used in the prosthetic eye use of art and science create synthetic eyeballs that are aesthetically good, long lasting and comfortable to wear. Research in bionic eyes and retinal implants is likely to create more products in the artificial eyes sector by restoring vision to patients with extreme loss of sight. Positive changes in technology offer great expansion opportunities for the artificial eye market
- Smart Prosthetics: Smart prosthesis can also include features that will allow adjusting the focus, brightness, and contrast in order to provide better satisfaction to the user, considering their personal needs and preferences. Smart prosthetics are capable of monitoring their usage and prove very useful to the patient and the healthcare professional in managing their care and changing treatment regimens if necessary. Artificial prosthetics come with distinct features and advantages which widen the market for such products
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Artificial Eye Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Artificial Eye Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
Have a question?
Mrinal
Mrinal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Asia Pacific region is the fastest growing in the market
Advanced Artificial Eye, The National Artificial Eye Services, and Marie Allen Ocularist Ltd accounted for major market shares in the year 2023
Integrated Implants dominates from the product segment
North America region accounted for the accounted for the highest market share
The Artificial Eye Market is estimated to witness a CAGR of 6.2% from 2023 to 2031
2021 to 2022- are the historic year, 2023 - base year, 2024 to 2031- are the forecast year
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Artificial Eye Market - By Type
1.3.2 Artificial Eye Market - By Technology
1.3.3 Artificial Eye Market - By Region
1.3.3.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. ARTIFICIAL EYE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. ARTIFICIAL EYE MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. ARTIFICIAL EYE MARKET - GLOBAL MARKET ANALYSIS
6.1. ARTIFICIAL EYE - GLOBAL MARKET OVERVIEW
6.2. ARTIFICIAL EYE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ARTIFICIAL EYE MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. NON-INTEGRATED IMPLANTS
7.3.1. Overview
7.3.2. Non-Integrated Implants Market Forecast and Analysis
7.4. INTEGRATED IMPLANTS
7.4.1. Overview
7.4.2. Integrated Implants Market Forecast and Analysis
8. ARTIFICIAL EYE MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
8.1. OVERVIEW
8.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
8.3. ELECTRONIC AND MECHANICAL.
8.3.1. Overview
8.3.2. Electronic and Mechanical. Market Forecast and Analysis
9. ARTIFICIAL EYE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Artificial Eye Market Overview
9.1.2 North America Artificial Eye Market Forecasts and Analysis
9.1.3 North America Artificial Eye Market Forecasts and Analysis - By Type
9.1.4 North America Artificial Eye Market Forecasts and Analysis - By Technology
9.1.5 North America Artificial Eye Market Forecasts and Analysis - By Countries
9.1.5.1 United States Artificial Eye Market
9.1.5.1.1 United States Artificial Eye Market by Type
9.1.5.1.2 United States Artificial Eye Market by Technology
9.1.5.2 Canada Artificial Eye Market
9.1.5.2.1 Canada Artificial Eye Market by Type
9.1.5.2.2 Canada Artificial Eye Market by Technology
9.1.5.3 Mexico Artificial Eye Market
9.1.5.3.1 Mexico Artificial Eye Market by Type
9.1.5.3.2 Mexico Artificial Eye Market by Technology
9.1.5.4 US Artificial Eye Market
9.1.5.4.1 US Artificial Eye Market by Type
9.1.5.4.2 US Artificial Eye Market by Technology
9.2. EUROPE
9.2.1 Europe Artificial Eye Market Overview
9.2.2 Europe Artificial Eye Market Forecasts and Analysis
9.2.3 Europe Artificial Eye Market Forecasts and Analysis - By Type
9.2.4 Europe Artificial Eye Market Forecasts and Analysis - By Technology
9.2.5 Europe Artificial Eye Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Artificial Eye Market
9.2.5.1.1 Germany Artificial Eye Market by Type
9.2.5.1.2 Germany Artificial Eye Market by Technology
9.2.5.2 France Artificial Eye Market
9.2.5.2.1 France Artificial Eye Market by Type
9.2.5.2.2 France Artificial Eye Market by Technology
9.2.5.3 Italy Artificial Eye Market
9.2.5.3.1 Italy Artificial Eye Market by Type
9.2.5.3.2 Italy Artificial Eye Market by Technology
9.2.5.4 Spain Artificial Eye Market
9.2.5.4.1 Spain Artificial Eye Market by Type
9.2.5.4.2 Spain Artificial Eye Market by Technology
9.2.5.5 United Kingdom Artificial Eye Market
9.2.5.5.1 United Kingdom Artificial Eye Market by Type
9.2.5.5.2 United Kingdom Artificial Eye Market by Technology
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Artificial Eye Market Overview
9.3.2 Asia-Pacific Artificial Eye Market Forecasts and Analysis
9.3.3 Asia-Pacific Artificial Eye Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Artificial Eye Market Forecasts and Analysis - By Technology
9.3.5 Asia-Pacific Artificial Eye Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Artificial Eye Market
9.3.5.1.1 Australia Artificial Eye Market by Type
9.3.5.1.2 Australia Artificial Eye Market by Technology
9.3.5.2 China Artificial Eye Market
9.3.5.2.1 China Artificial Eye Market by Type
9.3.5.2.2 China Artificial Eye Market by Technology
9.3.5.3 India Artificial Eye Market
9.3.5.3.1 India Artificial Eye Market by Type
9.3.5.3.2 India Artificial Eye Market by Technology
9.3.5.4 Japan Artificial Eye Market
9.3.5.4.1 Japan Artificial Eye Market by Type
9.3.5.4.2 Japan Artificial Eye Market by Technology
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Artificial Eye Market Overview
9.4.2 Middle East and Africa Artificial Eye Market Forecasts and Analysis
9.4.3 Middle East and Africa Artificial Eye Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Artificial Eye Market Forecasts and Analysis - By Technology
9.4.5 Middle East and Africa Artificial Eye Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Artificial Eye Market
9.4.5.1.1 South Africa Artificial Eye Market by Type
9.4.5.1.2 South Africa Artificial Eye Market by Technology
9.4.5.2 Saudi Arabia Artificial Eye Market
9.4.5.2.1 Saudi Arabia Artificial Eye Market by Type
9.4.5.2.2 Saudi Arabia Artificial Eye Market by Technology
9.4.5.3 U.A.E Artificial Eye Market
9.4.5.3.1 U.A.E Artificial Eye Market by Type
9.4.5.3.2 U.A.E Artificial Eye Market by Technology
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Artificial Eye Market Overview
9.5.2 South and Central America Artificial Eye Market Forecasts and Analysis
9.5.3 South and Central America Artificial Eye Market Forecasts and Analysis - By Type
9.5.4 South and Central America Artificial Eye Market Forecasts and Analysis - By Technology
9.5.5 South and Central America Artificial Eye Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Artificial Eye Market
9.5.5.1.1 Brazil Artificial Eye Market by Type
9.5.5.1.2 Brazil Artificial Eye Market by Technology
9.5.5.2 Argentina Artificial Eye Market
9.5.5.2.1 Argentina Artificial Eye Market by Type
9.5.5.2.2 Argentina Artificial Eye Market by Technology
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. ARTIFICIAL EYE MARKET, KEY COMPANY PROFILES
11.1. ADVANCED ARTIFICIAL EYE
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. THE NATIONAL ARTIFICIAL EYE SERVICES
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. MARIE ALLEN OCULARIST LTD
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. COS-MEDIC PTY LTD
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. RETINA IMPLANT AG
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. SECOND SIGHT
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. PIXIUM VISION
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. ERICKSONS
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. INTERNATIONAL PROSTHETIC EYE CENTER
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. INTEGRATED ORBITAL IMPLANTS
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
- Advanced Artificial Eye
- The National Artificial Eye Services
- Marie Allen Ocularist Ltd
- COS-MEDIC PTY LTD
- Retina Implant AG
- Second Sight
- Pixium Vision
- Ericksons
- International Prosthetic Eye Center
- Integrated Orbital Implants
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Get Free Sample For