Artificial Retina Market by Disease Type and Geography - Forecast and Analysis 2022-2026

The artificial retina market share is expected to increase by USD 9.43 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 12.54%.

This artificial retina market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers artificial retina market segmentation by disease type (macular degeneration and diabetic retinopathy) and geography (North America, Europe, Asia, and Rest of World (ROW)). The artificial retina market report also offers information on several market vendors, including Alcon Inc., Bausch Health Companies Inc., Bionic Eye Technologies Inc., Bionic Vision Technologies, Carl Zeiss AG, Nano Retina, NIDEK Co. Ltd., PIXIUM VISION, and Second Sight Medical Products Inc. among others.

What will the Artificial Retina Market Size be During the Forecast Period?

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Artificial Retina Market: Key Drivers, Trends, and Challenges

The rise in prevalence of retinal diseases is notably driving the artificial retina market growth, although factors such as stringent regulatory framework may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the artificial retina industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Artificial Retina Market Driver

The rise in prevalence of retinal diseases is one of the key drivers supporting the artificial retina market growth. The increasing prevalence of retinal diseases is associated with the rise in risk factors. RVO typically affects people over the age of 50 years, and the incidence increases with age. The risk of getting advanced AMD increases from 2% for the people in the age group 50-59 to nearly 30% for those over the age of 75. Globally, the older population is also growing rapidly owing to the rise in average life expectancy. By 2025, it is expected that approximately 810 million people will be aged 65 and above across the world. Moreover, the increasing worldwide incidence of diabetes is also leading to an increase in the incidence of diabetic retinopathy, DME, and other complications. Thus, the rising prevalence of retinal diseases and their related risk factors are leading to an increase in the demand for artificial retina, which, in turn, is driving the market growth.

Key Artificial Retina Market Trend

Escalating investment in ophthalmological R&D and innovations is another factor supporting the artificial retina market growth. Various nations such as the US are shifting their focus towards mitigating the prevalence of blindness in their countries by adopting advanced technology and innovation. For instance, in 2020, the Barraquer came in collaboration with ICFO-Institute of Photonic Sciences, Catalan Institute of Nanoscience and Nanotechnology (ICN2), IFAE-Institute of High Energy Physics, and the Institute of Vision of Paris, to participate in an innovative artificial retina implantation project, dubbed i-VISION, aimed at restoring the vision of people with blindness. Such instances and rising innovations in the artificial retina will increase the demand for it. This, in turn, will further drive the growth of the market during the forecast period.

Key Artificial Retina Market Challenge

The stringent regulatory framework is one of the factors hindering the artificial retina market growth. Artificial retina requires microbiological testing as they require sterility, stability, and shelf-life. Regulations mandate that these solutions are sterile until opened. Toxicology studies are conducted on the artificial retina as these may include chemicals that are carcinogenic, mutagenic, irritating, or chemicals that sensitize ocular tissues. Preclinical tests such as the Agar Diffusion test for cytotoxicity, the Draize test, and a systemic toxicity test are carried out on rabbits. Any product which is harmful to the eye, in the long run, is pulled off the market. These tests are time-consuming and can increase costs for manufacturers. Such time-consuming regulations will negatively impact the market growth during the forecast period.

This artificial retina market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global artificial retina market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the artificial retina market during the forecast period.

Who are the Major Artificial Retina Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Alcon Inc.
• Bausch Health Companies Inc.
• Bionic Eye Technologies Inc.
• Bionic Vision Technologies
• Carl Zeiss AG
• Nano Retina
• NIDEK Co. Ltd.
• PIXIUM VISION
• Second Sight Medical Products Inc.

 

This statistical study of the artificial retina market encompasses successful business strategies deployed by the key vendors. The artificial retina market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• NIDEK Co. Ltd. is a privately held company headquartered in Japan. It is a global company generating $326.25 million in revenues and has around 1,628 employees. Its revenue from the global artificial retina market contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company.
• NIDEK Co. Ltd. - The company offers an artificial retina that restores the sight of people who lost their vision due to retinal degenerative diseases, under the brand name of Nidek.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The artificial retina market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Artificial Retina Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the artificial retina market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Artificial Retina Market?

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38% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for artificial retina market in North America. Market growth in this region will be faster than the growth of the market in Rest of World.

The high prevalence of retinal disorders will facilitate the artificial retina market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Disease Type Segments in the Artificial Retina Market?

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The artificial retina market share growth by the macular degeneration segment will be significant during the forecast period. Artificial retinas are used as a substitute for dead photoreceptors in patients with macular degeneration. Argus II, manufactured by Second Sight Medical Products, is one of the artificial retinae that provides a rudimentary vision for blind patients. Patients who have lost central vision due to age-related macular degeneration would not be likely to experience many benefits from an Argus II because their peripheral vision is still better than that provided by the device. However, further advances in chip technology can provide better resolution. Thus, the increased use of artificial retina in macular degeneration will further enhance the growth of the market during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the artificial retina market size and actionable market insights on post COVID-19 impact on each segment.

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Artificial Retina Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 12.54%
Market growth 2022-2026	$ 9.43 billion
Market structure	Concentrated
YoY growth (%)	11.38
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 38%
Key consumer countries	US, Canada, Germany, Spain, and France
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Alcon Inc., Bausch Health Companies Inc., Bionic Eye Technologies Inc., Bionic Vision Technologies, Carl Zeiss AG, Nano Retina, NIDEK Co. Ltd., PIXIUM VISION, and Second Sight Medical Products Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Artificial Retina Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive artificial retina market growth during the next five years
• Precise estimation of the artificial retina market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the artificial retina industry across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of artificial retina market vendors

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