Retinal Implants Market Size, Share & Trends Analysis Report By Type (Retina Implant Alpha AMS, Implantable Miniature), By End-use (Hospitals, Outpatient Facilities), By Region, And Segment Forecasts, 2023 - 2030

Retinal Implants Market Size, Share & Trends Analysis Report By Type (Retina Implant Alpha AMS, Implantable Miniature), By End-use (Hospitals, Outpatient Facilities), By Region, And Segment Forecasts, 2023 - 2030

Retinal Implants Market Growth & Trends

The global retinal implants market size is expected to reach USD 87.9 million by 2030, registering a CAGR of 8.6% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market players are rapidly developing technological advancements to the devices to cater to the unmet patient needs, Owing to the lack of treatment options available for permanently blind individuals. The potential for restoring vision, the growing senior population, and the increasing prevalence of target illnesses drive up demand for retinal implants. The market is expanding owing to the rising frequency of retinal disorders worldwide.

Increasing research developments and advancements to develop novel solutions for the growing prevalence of rare genetic conditions causing vision loss and advancing clinical trials are driving the market. According to the article published in MIT Technology, an estimated 1.5 million people worldwide, including around 100,000 people in the U.S., have retinitis pigmentosa. In January 2018, Pixium Vision received the U.S. FDA approval to initiate clinical trials for PRIMA, a sub-retinal implant. The implant was approved for practice in patients with atrophic dry Age-related Macular Degeneration (AMD).

According to the CDC, age-related diseases such as macular degeneration, cataracts, and diabetic retinopathy are the leading causes of reduced vision and blindness in the U.S. Amblyopia and strabismus are two frequent eye conditions. Legally blind or partially sighted, 4.2 million Americans aged 40 and older fall into these categories. According to the National Eye Institute, over 150 million Americans' eyesight could be improved by appropriate refractive surgery.

Retinal Implants Market Report Highlights

• Based on device type, the implantable miniature telescope segment dominated the market in 2022 owing to the increasing number of product launches and the growing number of clinical trials
• Based on end-use, the hospital segment dominated the market owing to rising healthcare expenditure and the rising demand for retinal implants
• Market players are adopting strategies such as higher investment in research and development and technological innovation to improve available pixel resolution for retinal implants
• North America captured the largest share in 2022 owing to technological advancement and the presence of key industry players

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