Artificial Retina Market [2021-2031] - Size, Share
The Artificial Retina Market is expected to register a CAGR of 8.4% 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 Artificial Retina Market By Type ( Epiretinal Implants, Subretinal Implants, Suprachoroidal Implants, Others ); End User ( Hospitals, Ophthalmic Clinics, Research Institutes, Others ), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America). 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 Retina 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 Retina Market Segmentation
Type- Epiretinal Implants
- Subretinal Implants
- Suprachoroidal Implants
- Others
- Hospitals
- Ophthalmic Clinics
- Research Institutes
- Others
Strategic Insights
Artificial Retina Market Growth Drivers- Rising Prevalence of Retinal Diseases: The market for artificial retinas is significantly driven by the increase in occurrences of retinitis pigmentosa and age-related macular degeneration. Since these illnesses are among the most common causes of vision loss, especially in the elderly, there is an increasing need for efficient therapies.
- Investment in Research :The governmental and corporate sectors have increased their support for research into artificial retina technologies. This funding is encouraging creativity and hastening the creation of new goods that can enhance visual function. Such a factor has assisted the overall growth in the recent past and is expected to continue a similar trend during the forecast period.
- Entry of New Market Participants:The market is becoming more competitive and innovative as a result of the emergence of new startups specializing on artificial retina technologies. These businesses are developing cutting-edge methods to increase functionality, decrease size, and improve device compatibility, which may encourage wider adoption.
- Technological Advancements: Continuous improvements in artificial retina technology, including innovations in electrode design and image processing algorithms, are enhancing the efficacy of these devices. This advancement in technology is essential for creating more practical and user-friendly solutions.Such a factor has assisted the overall market growth in the recent past and is anticipated to continue a similar trend during the forecast period.
- Rising Government Initiatives: Funding and supportive government initiatives targeted at developing healthcare technology are also driving industry expansion. It is anticipated that increased focus on ophthalmology research would lead to more developments in artificial retina solutions. Such a factor has assisted the overall market growth in the recent past and is anticipated to continue a similar trend during the forecast period.
- Increased Investment in Research and Development: An emerging trend is an increase in investment in research and development within the artificial retina market. As the technology is continuously being advanced and potentially treating a broader spectrum of vision impairments, pharmaceutical companies, as well as research institutes, are investing in innovation to make the implants work better and integrate with the body more efficiently. The expansion of this market is also accelerating the development of the next generation of retinal implants.
- IMIE 256: This IMIE 256 device seems to have really great promise for individuals with end-stage retinitis pigmentosa. After a 90-day rehabilitation period, patients exhibited considerable improvement in visual performance, such as that of square localization and motion detection. Certainly, the whole device safety profile has only one adverse event recorded in it, making it quite favorable as far as potential long-term use and enhancement of quality of life for severely visually impaired patients are concerned.
- POLYRETINA: The POLYRETINA prosthesis employs a very high-density array of photovoltaic pixels, causing stimulation of retinal ganglion cells through an optimal irradiance level. This has led to hailed enhancement in mid-peripheral vision in patients afflicted with retinitis pigmentosa. This improvement manifests in terms of an upscaled spatial resolution as well as visual functionality. This revolutionized concept may reestablish a considerable part of vision lost, especially at the mid-peripheral field, thus providing a great hope in retinal prosthetic technology.
- PRIMA: The impressive outcomes from a multicenter trial with long-term use for the PRIMA system via its subretinal implants are thus far reaching. After four years, patients enjoyed positive changes in visual acuity, with some patients registering an eight-line improvement on the ETDRS chart. This finding implies that subretinal implants would probably yield better visual resolution than epiretinal devices, offering new possibilities for patients with severe vision impairment owing retinal degenerative diseases.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Artificial Retina 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 Retina 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.
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- 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
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to country scope.
Frequently Asked Questions
In Europe, the UK held the second largest share in 2023.
IMIE 256 - Product Development
Hospital segment accounted for the largest share in 2023 and is expected to retain its dominance during the forecast period
Rising prevalence of retinal diseases
North America held the largest share in 2023 and is expected to retain its dominance during the forecast period
The Artificial Retina Market is estimated to witness a CAGR of 8.4% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Artificial Retina Market - By Type
1.3.2 Artificial Retina Market - By End User
1.3.3 Artificial Retina Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ARTIFICIAL RETINA 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 RETINA 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 RETINA MARKET - GLOBAL MARKET ANALYSIS
6.1. ARTIFICIAL RETINA - GLOBAL MARKET OVERVIEW
6.2. ARTIFICIAL RETINA - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ARTIFICIAL RETINA MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. EPIRETINAL IMPLANTS
7.3.1. Overview
7.3.2. Epiretinal Implants Market Forecast and Analysis
7.4. SUBRETINAL IMPLANTS
7.4.1. Overview
7.4.2. Subretinal Implants Market Forecast and Analysis
7.5. SUPRACHOROIDAL IMPLANTS
7.5.1. Overview
7.5.2. Suprachoroidal Implants Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. ARTIFICIAL RETINA MARKET - REVENUE AND FORECASTS TO 2028 - END USER
8.1. OVERVIEW
8.2. END USER MARKET FORECASTS AND ANALYSIS
8.3. HOSPITALS
8.3.1. Overview
8.3.2. Hospitals Market Forecast and Analysis
8.4. OPHTHALMIC CLINICS
8.4.1. Overview
8.4.2. Ophthalmic Clinics Market Forecast and Analysis
8.5. RESEARCH INSTITUTES
8.5.1. Overview
8.5.2. Research Institutes Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. ARTIFICIAL RETINA MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Artificial Retina Market Overview
9.1.2 North America Artificial Retina Market Forecasts and Analysis
9.1.3 North America Artificial Retina Market Forecasts and Analysis - By Type
9.1.4 North America Artificial Retina Market Forecasts and Analysis - By End User
9.1.5 North America Artificial Retina Market Forecasts and Analysis - By Countries
9.1.5.1 United States Artificial Retina Market
9.1.5.1.1 United States Artificial Retina Market by Type
9.1.5.1.2 United States Artificial Retina Market by End User
9.1.5.2 Canada Artificial Retina Market
9.1.5.2.1 Canada Artificial Retina Market by Type
9.1.5.2.2 Canada Artificial Retina Market by End User
9.1.5.3 Mexico Artificial Retina Market
9.1.5.3.1 Mexico Artificial Retina Market by Type
9.1.5.3.2 Mexico Artificial Retina Market by End User
9.2. EUROPE
9.2.1 Europe Artificial Retina Market Overview
9.2.2 Europe Artificial Retina Market Forecasts and Analysis
9.2.3 Europe Artificial Retina Market Forecasts and Analysis - By Type
9.2.4 Europe Artificial Retina Market Forecasts and Analysis - By End User
9.2.5 Europe Artificial Retina Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Artificial Retina Market
9.2.5.1.1 Germany Artificial Retina Market by Type
9.2.5.1.2 Germany Artificial Retina Market by End User
9.2.5.2 France Artificial Retina Market
9.2.5.2.1 France Artificial Retina Market by Type
9.2.5.2.2 France Artificial Retina Market by End User
9.2.5.3 Italy Artificial Retina Market
9.2.5.3.1 Italy Artificial Retina Market by Type
9.2.5.3.2 Italy Artificial Retina Market by End User
9.2.5.4 Spain Artificial Retina Market
9.2.5.4.1 Spain Artificial Retina Market by Type
9.2.5.4.2 Spain Artificial Retina Market by End User
9.2.5.5 United Kingdom Artificial Retina Market
9.2.5.5.1 United Kingdom Artificial Retina Market by Type
9.2.5.5.2 United Kingdom Artificial Retina Market by End User
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Artificial Retina Market Overview
9.3.2 Asia-Pacific Artificial Retina Market Forecasts and Analysis
9.3.3 Asia-Pacific Artificial Retina Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Artificial Retina Market Forecasts and Analysis - By End User
9.3.5 Asia-Pacific Artificial Retina Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Artificial Retina Market
9.3.5.1.1 Australia Artificial Retina Market by Type
9.3.5.1.2 Australia Artificial Retina Market by End User
9.3.5.2 China Artificial Retina Market
9.3.5.2.1 China Artificial Retina Market by Type
9.3.5.2.2 China Artificial Retina Market by End User
9.3.5.3 India Artificial Retina Market
9.3.5.3.1 India Artificial Retina Market by Type
9.3.5.3.2 India Artificial Retina Market by End User
9.3.5.4 Japan Artificial Retina Market
9.3.5.4.1 Japan Artificial Retina Market by Type
9.3.5.4.2 Japan Artificial Retina Market by End User
9.3.5.5 South Korea Artificial Retina Market
9.3.5.5.1 South Korea Artificial Retina Market by Type
9.3.5.5.2 South Korea Artificial Retina Market by End User
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Artificial Retina Market Overview
9.4.2 Middle East and Africa Artificial Retina Market Forecasts and Analysis
9.4.3 Middle East and Africa Artificial Retina Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Artificial Retina Market Forecasts and Analysis - By End User
9.4.5 Middle East and Africa Artificial Retina Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Artificial Retina Market
9.4.5.1.1 South Africa Artificial Retina Market by Type
9.4.5.1.2 South Africa Artificial Retina Market by End User
9.4.5.2 Saudi Arabia Artificial Retina Market
9.4.5.2.1 Saudi Arabia Artificial Retina Market by Type
9.4.5.2.2 Saudi Arabia Artificial Retina Market by End User
9.4.5.3 U.A.E Artificial Retina Market
9.4.5.3.1 U.A.E Artificial Retina Market by Type
9.4.5.3.2 U.A.E Artificial Retina Market by End User
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Artificial Retina Market Overview
9.5.2 South and Central America Artificial Retina Market Forecasts and Analysis
9.5.3 South and Central America Artificial Retina Market Forecasts and Analysis - By Type
9.5.4 South and Central America Artificial Retina Market Forecasts and Analysis - By End User
9.5.5 South and Central America Artificial Retina Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Artificial Retina Market
9.5.5.1.1 Brazil Artificial Retina Market by Type
9.5.5.1.2 Brazil Artificial Retina Market by End User
9.5.5.2 Argentina Artificial Retina Market
9.5.5.2.1 Argentina Artificial Retina Market by Type
9.5.5.2.2 Argentina Artificial Retina Market by End User
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 RETINA MARKET, KEY COMPANY PROFILES
11.1. AETNA INC.
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. BIONIC VISION
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. BRIGHTFOCUS FOUNDATION
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. KURZWEIL NETWORK
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. NANO RETINA
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. OPTOBIONICS
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. RETINA CONSULTANTS OF BOSTON
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. RETINA IMPLANT AG
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. SECOND SIGHT
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
1. Aetna Inc.
2. Bionic Vision Australia
3. BrightFocus Foundation
4. Kurzweil Network
5. Nano Retina
6. Optobionics
7. Pixium Vision
8. Retina Consultants of Boston
9. Retina Implant AG
10. Second Sight
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.
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