Artificial Eye Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Canada, Germany, UK, China - Size and Forecast 2024-2028

Artificial Eye Market Size 2024-2028

The artificial eye market is projected to reach a value of USD 56.43 million with a CAGR of 9.18% between 2023 and 2028. The market is experiencing significant growth, driven by the increasing prevalence of ophthalmic diseases and the rising demand for custom-made ocular prostheses. The market is expected to expand due to the increasing population aging and the resulting higher incidence of eye conditions. Additionally, technological advancements in the production of artificial eyes, such as the use of advanced materials and manufacturing processes, are contributing to the market growth. However, the high device and implantation costs remain a significant challenge, limiting access to these products for many individuals. Despite this, the market is expected to continue growing, driven by the unmet need for functional and aesthetically pleasing artificial eyes, especially within the geriatric population, who often require such solutions to address vision loss and enhance their quality of life. Additionally, the shift of ocular prosthesis procedures to ambulatory surgery centers (ASCs) from hospitals is a significant trend in the ophthalmology industry, encompassing advancements such as artificial retina. 

What will be the size of the Market During the Forecast Period?

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Market Segmentation 

By Technology 

The market share growth by the mechanical segment will be significant during the forecast period. Mechanical technology is used in implants to support people who are totally blind in perceiving light and reflections of light. This implant consists of electrodes that stimulate the retinal cells and transmit visual information to the brain. A synthetic retina embedded with nanoscale light sensors is also present in the implants to measure the light passing the lens at the front of the eye.

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The mechanical segment was valued at USD 48.77 million in 2018. Wires that are attached to the back of the retina ferry signals from the sensors to external circuitry for processing the way nerve fibers connect the eyeball to the brain. The new launches of superior products in mechanical technology in the global market surge the demand for the mechanical technology segment. Hence, the mechanical segment will grow in the global market during the forecast period.

By Product 

Integrated prosthetic eyes are permeable allow fibrovascular ingrowth throughout the implant and help in the insertion of pegs or pots. It improves the mobility of these due to the direct mechanical coupling. In addition, an integrated implant allows the option of pegging for improved mobility of the prosthesis. Consequently, it has the ability to integrate with the overlying them through a peg system. The popular porous implant is porous polyethylene. This material is used due to its properties that demonstrate high tensile strength, biocompatibility, fibrovascular ingrowth, and malleability. Therefore, such factors will drive the growth of the integrated prosthetic eye segment in the global market during the forecast period.

Non integrated prosthetic eye

Non-integrated prosthetic eyes, composed mainly of acrylic polymethyl methacrylate (PMMA), silicone spheres, or glass, lack a unique apparatus for attaching extraocular muscles and are non-porous. PMMA, a transparent thermoplastic compatible with human tissue, serves as an ocular prosthesis and replacement intraocular lenses for cataract treatment. In many developing economies, including India, cost constraints drive the preference for non-integrated prosthetic eyes. This economic consideration is expected to boost the growth of the non-integrated prosthetic eye segment in the market. The Indian intraocular lens market, influenced by similar economic factors and technological advancements, contributes significantly to the adoption of PMMA and other materials in ophthalmic healthcare solutions.

By Region

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North America is estimated to contribute 57% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. In most countries in North America, such as the US, Canada, and Mexico, the per capita public expenditure on healthcare is growing, thereby leading to the rising adoption of ocular devices among people with ocular diseases or early stages of visual impairment.

Moreover, the market in North America is driven by factors like improved healthcare infrastructure, government programs and funding for ocular diseases and eye care, the presence of favorable reimbursement policies in developed countries like the US, and the growing presence of companies manufacturing these in the US and Canada. Hence, such factors increase the demand for these implantations in the region during the forecast period.

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Market Dynamics and Customer Landscape

The market is witnessing significant growth due to the increasing prevalence of vision loss and eye diseases, such as age-related macular degeneration, diabetic retinopathy, and retinitis pigmentosa. According to recent research, the global market for bionic eyes is expected to experience positive outcomes in the coming years, driven by innovation in research and development and medical devices. Vision impairment and complete blindness affect millions of people worldwide, leading to a high demand for sight restoration solutions. The aging population is a key factor fueling market growth, as age-related eye diseases become more common. The market is segmented into implanted eyes and external eyes. Implanted eyes, which include bionic eyes and retinal implants, are expected to dominate the market due to their ability to provide a more natural visual experience. This trend is also supported by increased adoption in ophthalmic clinics, where advanced technologies are utilized to offer patients enhanced vision solutions. The hospital segment is the largest contributor to the market, due to the high number of surgical procedures and patient care services provided in this setting. Clinical trials and outpatient facilities are playing a crucial role in the development of bionic eyes, with many companies investing in research and innovation to improve patient outcomes. Medical coverage and national eye institutions are also providing support for the adoption of these technologies. Surgical procedures, such as implantation and external fitting, are driving the growth of the market. Positive outcomes from these procedures are leading to increased demand for artificial eyes, as they offer a viable solution for those suffering from vision loss and eye diseases. Dry eye syndrome drugs are also integral to addressing related ocular health issues.

Key Market Drivers

Increasing access to ocular prostheses in emerging markets acts as a primary driver for market growth. Developing nations like China and India present abundant opportunities for the global market. Factors such as a burgeoning patient pool with ophthalmic conditions leading to blindness, heightened awareness of ocular prostheses, and enhancements in healthcare infrastructure contribute to this growth. Additionally, improved access to healthcare and the establishment of ocular prosthesis centers bolster market expansion.

Furthermore, increased access to ocular prostheses in emerging economies stems from growing awareness of eye diseases, rising disposable incomes, and an aging population. Market players benefit from heightened access to healthcare and advancements in healthcare infrastructure, fostering growth prospects. Such factors collectively propel market growth and trends in the forecast period.

Significant Market Trends

The paradigm shift of ocular prosthesis procedures from hospitals to ambulatory surgery centers is the primary trend shaping market growth. Ambulatory surgery centers (ASCs) are emerging healthcare facilities that provide outpatient services and same-day surgical care. It is a convenient alternative to hospitals. Ophthalmology-related services are one of the largest specialties served in ASCs. Minor ophthalmic procedures can be easily performed in ASCs. Medical procedures performed in ASCs are cost-effective.

Furthermore, ASCs offer good quality patient care and services at decreased costs in comparison with the costs associated with hospitals, which increases the number of ocular prosthesis procedures performed in ASCs when compared with the number of procedures performed at hospitals. Therefore, such factors will drive the growth of the global market during the forecast period.

Major Market Challenges

High device and implantation cost of the artificial eye is a challenge that affects market growth. Artificial eyes and implantation procedures are costly. The high cost of the artificial eye makes it pricey for end-users without insurance coverage. The cost of these typically ranges between USD 2,500 to USD 8,300 depending on the type of the devices and the geographic location. The cost burden further increases with consultation fees by physicians and the costs of surgery needed to remove the eyes.

In addition, patients with health insurance must bear 10%-50% out-of-pocket costs for doctor visit copays and coinsurance. Hence, many patients are unable to afford the high costs associated with prosthetic eyes, particularly in most emerging countries such as India, with a large pool of low-middle income population, which is inhibiting the growth of the market during the forecast period. Thus, such factors will lower the growth of the global market during the forecast period.

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Key Market Players 

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

Advanced Artificial Eyes: The company offers products such as custom prosthetic eyes and digital artificial eyes.

• Alcon Inc.
• Artificial Eyes Pty Ltd.
• Bionic Vision Technologies
• Carl Zeiss Stiftung
• Erickson Laboratories
• F.AD. Muller Sohne GmbH and Co. KG
• Ferdinand A
• Forster GmbH
• Integrated Orbital Implants
• International Prosthetic Eye Center
• Marie Allen Ocularist Ltd.
• Midwest Eye Laboratories Inc.
• Nano Retina
• National Artificial Eye Services
• NIDEK Co. Ltd.
• Nova Eye Medical Ltd.
• Ocular Prosthetics Inc.
• PIXIUM VISION
• Rocky Mountain Anaplastology Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Key Market Customer Landscape

The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Segment Overview

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.

• Technology Outlook
  • Mechanical
  • Electronic

• Product Outlook
  • Integrated prosthetic eye
  • Non integrated prosthetic eye
  • Retinal prosthetics

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of World (ROW)
    • Argentina
    • Australia
    • Brazil 

Market Analyst Overview

The market is witnessing significant growth due to the increasing prevalence of vision loss and vision impairment, particularly in the aging population. Eye diseases such as Macular Degeneration, Retinitis Pigmentosa, and Age-Related Vision Impairment are major contributors to this trend. The development of Bionic Eyes through research and innovation offers positive outcomes for patients experiencing complete blindness or significant vision loss. Research studies in biomedical research are increasingly focused on overcoming barriers to improve healthcare resources for individuals with neurological disorders. Advances in sensory prostheses and prosthetic devices are enhancing independent living and mobility assistance, while medical technology and neuroscience contribute to better visual perception and patient outcomes. Additionally, Augmented Reality (AR) is playing a significant role in improving the functionality of these devices by offering enhanced user interfaces and interactive experiences. Patient education and public awareness are crucial in supporting these developments and ensuring the effective use of these technologies.

Furthermore, medical coverage and specialist care are also essential factors in the adoption of Bionic Eyes. The implantation of External and Implanted Bionic Eyes aims to restore sight and improve the visual experience for patients. Post-implantation care is crucial for ensuring positive patient outcomes. The aging population and increasing incidence rates of eye diseases are further fueling the market's future prospects. Despite the promising benefits of bionic eye, misconceptions and acceptance are crucial challenges to their widespread adoption. Neuroprosthetics and other advanced technologies are also emerging as potential competitors in the market. Global bionic research development is driving research innovation in external eye technologies, aiming to enhance vision restoration and improve quality of life for individuals with visual impairments. Additionally, the market is catering to these advancements by providing specialized solutions and support tailored to the needs of those seeking enhanced visual aids. Overall, the market holds immense potential for growth and innovation in the field of sight restoration.

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What are the Key Data Covered in this Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2024 and 2028
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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