The analysis encompasses a comprehensive examination of the Global Retinal Prosthesis Market, assessing key trends to project outcomes from 2020 to 2027. Historical data for 2017 and 2018, with 2019 as the base year, informs the study. This research provides readers with a thorough understanding of the industry's size, share, trends, and growth opportunities for the present and future years.
Introduction to Retinal Prosthesis Market: A retinal implant is a biomedical microchip designed to create visual perception for individuals who have lost eyesight due to chronic eye diseases. These diseases lead to the gradual deterioration of photoreceptor cells in the retina, resulting in vision loss. However, certain inner retinal neurons that can transmit signals from photoreceptors to the brain are preserved. The electrical stimulation of these retinal neurons through Retinal Implants aids in vision restoration.
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Dynamics of Retinal Prosthesis Market: The industry was valued at USD XX million in 2017 and is anticipated to grow at a CAGR of XX% during the forecasted period. The demand for retinal implants is rising due to an increase in target diseases, a growing geriatric population, and the potential for vision restoration. Currently approved for treating RP and AMD, retinal implants address the escalating cases of AMD, contributing to industry growth. AMD is a leading cause of blindness for approximately 5.0% of the global blind population, further propelling market growth.
Competitive Landscape of Retinal Prosthesis Market:
- Start-up traction: In 2017, Retina Implant AG announced support for patients undergoing the Alpha AMS subretinal implant.
- Deals Analysis: In 2018, Second Sight Medical Products entered the Singapore market in collaboration with a leading international eye center.
Regional Outlook of Retinal Prosthesis Market: North America is projected to achieve the highest revenue globally, driven by technological advancements and a rising number of AMD cases in the U.S. Asia Pacific is expected to garner the highest market share, fueled by increased healthcare expenditure and initiatives from key players.
Key Report Coverage:
- Qualitative and quantitative analysis of the Retinal Prosthesis Market, including share, size, and growth rate for all segments.
- Region and country-wise assessment from 2017-2027.
- Market share analysis of prominent industry players.
- Forecasts for segments and leading regions.
- Key trends (Drivers, Constraints, Threats, Opportunities, Challenges) and recommendations.
- Strategic recommendations for emerging business segments.
- Competitive landscape and trend mapping.
Market Segmentation:
- By Type (Revenue, USD Million): Argus II, Retina Implant, Alpha-IMS, Implantable Miniature Telescope (IMT), and Others.
- By Application (Revenue, USD Million): People with Partial Blindness, People with Complete Blindness, Retina Implant Alpha AMS.
- Leading Participants: Second Sight Medical Products, Inc., Retina Implant AG, Vision Care Inc., Bionic Eye Technologies.
By Region (Revenue, USD Million):
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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