Global Retinal Implants Market Size Study, by Type (Retina Implant Alpha AMS, Implantable Miniature Telescope, Argus II, Others), by End-use (Hospitals, Outpatient Facilities, Research & Manufacturing) and Regional Forecasts 2022-2032

Global Retinal Implants Market Size Study, by Type (Retina Implant Alpha AMS, Implantable Miniature Telescope, Argus II, Others), by End-use (Hospitals, Outpatient Facilities, Research & Manufacturing) and Regional Forecasts 2022-2032

The Global Retinal Implants Market is valued at approximately USD 48.44 million in 2023 and is anticipated to grow with a healthy growth rate of more than 8.6% over the forecast period 2024-2032. Retinal implants are sophisticated biomedical microchips designed to assist individuals who have lost their vision due to degenerative eye diseases such as retinitis pigmentosa and age-related macular degeneration. These conditions lead to the deterioration of photoreceptor cells in the retina, causing progressive vision loss. However, some inner retinal neurons that transmit signals to the brain are often preserved. Retinal implants, composed of microchips with arrays of light-sensitive diodes that convert light into electrical signals, can help patients regain partial vision.

The market for retinal implants is driven by several key factors. Approved devices for restoring vision, equipped with electrodes, camera chips, lenses, software, and other tools, can significantly enhance patients' quality of life. The Argus II, for example, is a small implantable telescope that is user-friendly and allows patients to engage in daily activities without the need for additional surgeries. Furthermore, the growing geriatric population and rising disposable income in developing economies like Japan, China, and India are expected to boost market growth. Increased healthcare spending by both governments and the private sector, along with efforts by leading market players to expand into underserved regions, further propel the market. Also, the use of electrical stimulation of residual retinal neurons through retinal implants, which can translate light into electrical signals, is another driver of market growth. This technology helps patients regain some vision and enhances their overall quality of life. Opportunities within the market are also substantial; for instance, Age-related Macular Degeneration (AMD) affects a significant portion of the global population, with an estimated 196 million people affected by 2020, projected to rise to 288 million by 2040. This high patient population drives the demand for retinal implants.

However, the market faces several challenges. Complex surgeries, varied biological responses to foreign implants, and high procedure costs are significant hurdles. The intricate nature of these surgeries necessitates extensive training in technology and methodology, as well as careful patient selection, to ensure successful adoption. Additionally, the scarcity of trained specialists in some regions hampers demand for retinal implants.

North America is expected to generate the highest revenue in the global retinal implants market due to the high prevalence of degenerative disorders and technological advancements. Meanwhile, the Asia-Pacific region is anticipated to hold the largest market share over the forecast period, driven by an increasing senior population, rising disposable income, and growing healthcare spending by both the government and private sectors. Efforts by key market players to expand into untapped regions further support regional market growth.

Major market players included in this report are:

Vivani Medical

Pixium Vision

Boston Retinal Implant Project

Nano Retina

Labtician Ophthalmics, Inc.

LambdaVision, Inc.

Bionic Vision Technologies

Nidek Co., Ltd.

Retina Implant AG

Optobionics

The detailed segments and sub-segment of the market are explained below:

By Type:
• Retina Implant Alpha AMS
• Implantable Miniature Telescope
• Argus II
• Others

By End-use:
• Hospitals
• Outpatient Facilities
• Research & Manufacturing

By Region:

North America
• U.S.
• Canada

Europe
• UK
• Germany
• France
• Spain
• Italy
• ROE

Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• RoAPAC

Latin America
• Brazil
• Mexico
• RoLA

Middle East & Africa
• Saudi Arabia
• South Africa
• RoMEA

Years considered for the study are as follows:
• Historical year – 2022
• Base year – 2023
• Forecast period – 2024 to 2032

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market

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