The global Retinal Implant Market size is expected to reach USD 112.2 million by 2030, registering a CAGR of 10.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increasing prevalence of target diseases, and rising geriatric population are the key driving factors for the market. Rising capability of restoring vision is anticipated to bode well for demand over the forecast period.
Laser
therapy and Photodynamic Therapy (PTD) and some of the conventional treatments
available for Retinitis Pigmentosa (RP) and Age-Related Macular Degeneration
(AMD). Drugs such as Lucentis, Macugen, Eylea, and Vitamin A are a part of
therapeutic treatment. Such treatments aid in reducing disease progression and
thereby, delaying blindness. However, none of these treatments can completely
cure the disease and restore vision. As a result, treatment procedures that
restore vision are highly in demand.
Currently
approved devices are capable of restoring vision with the help of electrodes,
camera chips, lenses, software, and other tools. Moreover, implantable
miniature telescope, Argus II is easy to use and enables patients to carry out
their daily activities with ease. Furthermore, these devices can be used for a
prolonged period of time, eliminating the need for another surgery. Therefore,
the capability of advanced implantable devices to restore vision is expected to
propel the market growth in near future.
Increasing
geriatric population and rising disposable income in developing economies such
as Japan, China, and India are also expected to boost the retinal implant
market over the forecast period. Moreover, increasing healthcare expenditure by
governments and private sectors and initiatives by major market players to
operate in untapped regions are also anticipated to propel the growth in the
forthcoming years.
Related Press
Release@ Retinal Implants Market Report
List of Key Players of Retinal Implants Market
- Abbott
- Boston
Retinal Implant Project
- Bionic
Vision Technologies
- Cicor
Management AG
- Pixium
Vision
- Nano Retina
- Second Sight
Medical Products, Inc.
- Koninklijke
Philips N.V.
- Labtician
Ophthalmics, Inc.
- VisionCare,
Inc.
- Visus
Technology, Inc.
- IMI
Intelligent Medical Implants AG
- Retina
Implant AG
Retinal Implants Market Report Highlights
- In terms of
revenue, the implantable miniature telescope segment is projected to
expand at the highest CAGR over the forecast period. Increasing prevalence
of AMD among geriatric population and usage of implantable devices to
treat vision problems might drive the segment’s growth over the forecast
period
- Asia Pacific
is expected to grow at the fastest CAGR of 11.2% over the forecast period
owing to increasing geriatric population and disposable income
- VisionCare,
Inc.; Retina Implant AG; and Second Sight Medical Products, Inc. are
expected to dominate the retinal implant market over the forecast period.
Retinal Implants Market Segmentation
Grand
View Research has segmented the global retinal implants market based on device
type, and region:
Retinal Implants Device Type Outlook (Revenue, USD
Million, 2018 - 2030)
- Retina
Implant Alpha AMS
- Implantable
Miniature Telescope
- Argus II
- Others
Retinal Implants Regional Outlook (Revenue, USD Million,
2018 - 2030)
- North
America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Sweden
- Norway
- Denmark
- Asia Pacific
- China
- Japan
- India
- Australia
- Thailand
- South Korea
- Latin
America
- Brazil
- Mexico
- Argentina
- Middle East
and Africa
- Saudi
Arabia
- South
Africa
- UAE
- Kuwait
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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