Artificial Retina Market Is Expected to Reach USD 5,878.4 Thousand by 2031, Claims Allied Market Research

Rise in geriatric population that is vulnerable to eye diseases, the rise in technological advancement, and increase in funding for the research and development regarding artificial retina drive the growth of the global artificial retina market. Region-wise, the market in North America is likely to maintain its leadership in terms of revenue during the forecast period.

Portland, OR, March 01, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global artificial retina market generated $2,711.4 thousand 2021, and is estimated to reach $5,878.4 thousand by 2031, witnessing a CAGR of 8.3% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.

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Report coverage & details:

Report Coverage Details
Forecast Period 2022–2031
Base Year 2021
Market Size in 2021 $2,711.4 thousand
Market Size in 2031 $5,878.4 thousand
CAGR 8.3%
No. of Pages in Report 89
Segments Covered Product Type and Region
Drivers Rise in geriatric population which is prone to many eye–related problems such as diabetic retinopathy and age-related macular degeneration
Increase in funding for the research and development regarding artificial retina
Increase in focus in the field of ophthalmology and retina
Opportunities The increased focus on technological advancements such as innovative bionic vision systems
Restraints The high cost of artificial retina and disadvantages of retinal implant such as conjunctival erosion, retinal detachment, loss of light perception, and the need for revision surgery

Impact of Covid-19 on Artificial Retina Market Scenario:

  • The COVID-19 pandemic outbreak had a negative impact on the growth of the artificial retina market. Most of the market players witnessed a decline in sales in 2020 due to the COVID-19 associated restrictions and lockdowns coupled with the cancellation of ophthalmic appointments, and shortage in supply chain
  • For instance, according to CXOs, the highest cancellation rate of patients in ophthalmology department was observed accounting for 24.21% patients visit during pandemic.
  • The market has normalized post the pandemic. Many companies conducting clinical trials of innovative retina implants are likely to launch their new products in the coming years, which will drive market growth during the forecast period.

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The report offers a detailed segmentation of the global artificial retina market based on product type and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.

Based on product type, the subretinal implants segment held the largest share in 2021, accounting for more than two-fifths of the global artificial retina market and would maintain its dominance in terms of revenue through 2031. Moreover, the same segment is estimated to witness the fastest CAGR of 8.6% during the forecast period. The report also discusses the epiretinal implants and others segments.

Based on region, the market in North America was the largest in 2021, accounting for more than 90% of the global artificial retina market share and is likely to maintain its leadership status during the forecast period. However, the LAMEA market is expected to manifest the highest CAGR of 10.7% from 2022 to 2031. The other regions analyzed in the study include Asia-Pacific and Europe.

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Leading players of the global artificial retina market analyzed in the research include Second Sight, Nano Retina, Optobionics,, Retina Implant AG, Bionic Vision Australia, Pixium Vision, Intelligent Medical implants, Nidek Co. Ltd., Aetna Inc., Medtronic, Altris, Inc., Axorus, Bionic Vision Technologies, Labtician Ophthalmics, Inc., LambdaVision Inc., Nano Retina, Nidek Co. Ltd., Optobionics, Pixium Vision, and Vivani Medical Inc.

The report analyzes these key players of the global artificial retina market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.


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