Artificial Retina Market Report 2024 (Global Edition)

Global Artificial Retina Market Report 2024 Market Size Split by Type (Epiretinal Implants, Subretinal Implants, Suprachoroidal Implants, Optogenetic Implants, Others), by Disease Indication (Retiniti...

Artificial Retina Market Report Description

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Artificial Retina Market Insights Video

Competitive Landscape of the Artificial Retina Market

The Global Artificial Retina Market is distinguished by its competitive landscape, which is characterized by continuous technological advancements and intense competition. In order to introduce innovative artificial retina systems with improved patient outcomes and enhanced functionality, market participants are prioritizing research and development activities. Key actors employ strategic collaborations, partnerships, and acquisitions as prominent strategies to enhance their market presence and diversify their product portfolios.

September 2021: Bionic Vision Technologies (BVT) in Australia collaborated with Cirtec Medical to enhance its bionic eye technology. Cirtec's funding will support the advancement of BVT's state-of-the-art retinal implant. A global pivotal study for the system, which aims to restore vision for the blind, is scheduled for 2022. (Source: https://bionicvis.com/2021/09/06/australias-bionic-eye-advances-due-to-us-partnership/) August 2022: Second Sight Medical Products Inc. (US) announced the successful completion of its merger with Nano Precision Medical Inc. (US) and the subsequent rebranding of the company as Vivani Medical, Inc. (Source: https://vivani.com/second-sight-medical-products-announces-successful-completion-of-its-merger-with-nano-precision-medical-and-its-name-change-to-vivani-medical-inc/)

Top Companies Market Share in Artificial Retina Industry: (In no particular order of Rank)

• Second Sight Medical Products Inc.
• Pixium Vision
• Nano Retina Inc.
• Retina Implant AG
• Bionic Vision Technologies Pty Ltd.
• VisionCare Inc.
• iBIONICS
• Monash Vision Group
• Optobionics Corporation
• Biomedical Technologies S.L.
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of the Artificial Retina Market

Which Region Dominates the Artificial Retina Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024. The artificial retina market in North America is primarily influenced by the significant occurrence of retinal disorders and huge healthcare spending. The quick adoption of cutting-edge technologies is facilitated by the existence of prominent market participants and modern healthcare infrastructure. Moreover, the market growth in this region is further strengthened by advantageous reimbursement policies and regulatory backing.

Which Region is Expanding at the Fastest CAGR?

Asia Pacific stands out as the fastest-growing region in the Artificial Retina market as a result of a sizable and aging population, a heightened awareness of retinal disorders and an increase in healthcare expenditure. The market acceptance and growth are further accelerated by significant developments in healthcare infrastructure and expanding research and development initiatives in nations like India and China.

The current report Scope analyzes Artificial Retina Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Artificial Retina Market

According to Cognitive Market Research, the global Artificial Retina market size was estimated at USD 2845.6 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 1138.24 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Artificial Retina market with a market size of USD 898.07 million in 2024 and is believed to grow at a CAGR of 6.8% during the projected period. The nation's rising prevalence of retinal diseases.
• The Canada Artificial Retina market had a market share of USD 136.59 million in 2024 and is believed to grow at a CAGR of 7.8% during the projected period. Canada's increased government spending on healthcare research and development.
• The Mexico Artificial Retina market is believed to see growth at a CAGR of 7.5% during the projected period, with a market size of USD 103.58 million in 2024.

Europe Artificial Retina Market

According to Cognitive Market Research, the global Artificial Retina market size was estimated at USD 2845.6 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 853.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.3% from 2024 to 2031.

• The United Kingdom Artificial Retina market had a market share of USD 143.42 million in 2024 and is believed to grow at a CAGR of 8.1% during the projected period. In the UK, Artificial Retina sales see an upswing due to the nation's increasing investments in healthcare infrastructure and research and development.
• The France Artificial Retina market is believed to see growth at a CAGR of 6.5% during the projected period, with a market size of USD 78.54 million in 2024.
• According to Cognitive Market Research, the German Artificial Retina market size was valued at USD 169.03 million in 2024 and is believed to grow at a CAGR of 7.5% during the projected period. In Germany, Artificial Retina surged because of the growing number of cases of retinal illnesses and the growing amount of money invested in healthcare infrastructure.
• The Italy Artificial Retina market is believed to see growth at a CAGR of 6.7% during the projected period, with a market size of USD 73.42 million in 2024.
• The Russia Artificial Retina market is believed to see growth at a CAGR of 6.3% during the projected period, with a market size of USD 132.32 million in 2024.
• The Spain Artificial Retina market is believed to see growth at a CAGR of 6.4% during the projected period with a market size of USD 70.00 million in 2024
• The Luxembourg Artificial Retina market is believed to see growth at a CAGR of 7.4% during the projected period, with a market size of USD 26.46 million in 2024.
• The Portugal Artificial Retina market is believed to see growth at a CAGR of 7.1% during the projected period, with a market size of USD 17.93 million in 2024.
• The Greece Artificial Retina market is believed to see growth at a CAGR of 7.6% during the projected period, with a market size of USD 10.24 million in 2024.
• Rest of Europe's Artificial Retina market is believed to see growth at a CAGR of 6.0% during the projected period, with a market size of USD 132.32 million in 2024.

Asia Pacific Artificial Retina Market

According to Cognitive Market Research, the global Artificial Retina market size was estimated at USD 2845.6 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 654.49 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.8% from 2024 to 2031.

• According to Cognitive Market Research, the China Artificial Retina market size was valued at USD 294.52 million in 2024 and is believed to grow at a CAGR of 10.3% during the projected period. Artificial Retina surged in China as a result of the existence of a number of very influential actors and the development of industrial technologies.
• The Japan Artificial Retina market is believed to see growth at a CAGR of 9.3% during the projected period, with a market size of USD 90.32 million in 2024.
• The India Artificial Retina market had a market share of USD 78.54 million in 2024 and is believed to grow at a CAGR of 12.6% during the projected period. India's increasing investments in healthcare infrastructure and research and development.
• The South Korean Artificial Retina market is believed to see growth at a CAGR of 9.9% during the projected period, with a market size of USD 65.45 million in 2024.
• The Australian Artificial Retina market is believed to see growth at a CAGR of 10.5% during the projected period, with a market size of USD 34.03 million in 2024.
• The South East Asia Artificial Retina market is believed to see growth at a CAGR of 11.8% during the projected period, with a market size of USD 45.16 million in 2024.
• The Rest of Asia Pacific Artificial Retina market is believed to see growth at a CAGR of 10.6% during the projected period, with a market size of USD 46.47 million in 2024.

South America Artificial Retina Market

According to Cognitive Market Research, the global Artificial Retina market size was estimated at USD 2845.6 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 142.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031. .

• According to Cognitive Market Research, the Brazil Artificial Retina market size was valued at USD 60.90 million in 2024 and is believed to grow at a CAGR of 8.8% during the projected period. Artificial Retinas flourished in Brazil due to increasing prevalence of vision impairment and the expansion of business by market players.
• Argentina's Artificial Retina market had a market share of USD 23.90 million in 2024 and is believed to grow at a CAGR of 9.1% during the projected period. Argentina's development in economic growth and supportive regulatory environments.
• Colombia Artificial Retina market is believed to see growth at a CAGR of 8.0% during the projected period, with a market size of USD 12.66 million in 2024.
• Peru Artificial Retina market is believed to see growth at a CAGR of 8.4% during the projected period, with a market size of USD 11.67 million in 2024.
• Chile Artificial Retina market is believed to see growth at a CAGR of 8.5% during the projected period, with a market size of USD 10.24 million in 2024.
• The Rest of Latin America's Artificial Retina market is believed to see growth at a CAGR of 7.3% during the projected period, with a market size of USD 22.91 million in 2024.

Middle East and Africa Artificial Retina Market

According to Cognitive Market Research, the global Artificial Retina market size was estimated at USD 2845.6 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 56.91 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.5% from 2024 to 2031..

• The GCC Countries Artificial Retina market is believed to see growth at a CAGR of 9.3% during the projected period, with a market size of USD 24.36 million in 2024. Artificial Retina sales flourish due to increasing investments in healthcare infrastructure and supportive government initiatives.
• The Egypt Artificial Retina market is believed to see growth at a CAGR of 8.8% during the projected period, with a market size of USD 5.98 million in 2024.
• The South Africa Artificial Retina market is believed to see growth at a CAGR of 9.5% during the projected period, with a market size of USD 8.99 million in 2024. Artificial Retina sales flourish in South Africa due to rising prevalence of retinal diseases and advancements in medical technology.
• The Turkey Artificial Retina market is believed to see growth at a CAGR of 8.0% during the projected period, with a market size of USD 4.89 million in 2024.
• The Nigeria Artificial Retina market is believed to see growth at a CAGR of 7.6% during the projected period, with a market size of USD 5.98 million in 2024.
• The Rest of MEA Artificial Retina market is believed to see growth at a CAGR of 7.5% during the projected period, with a market size of USD 6.72 million in 2024.

Artificial Retina Market Analysis

How are Segments Performing in the Global Artificial Retina Market?

Artificial Retina Market Types Segment Analysis

According to Cognitive Market Research, Epiretinal Implants stands out as the dominant category over the projected period. Epiretinal implants employ a thin electrode array to be affixed to the inner surface of the retina, thereby inducing the remaining healthy retinal cells to produce visual signals. Due to its commercial availability of epiretinal prostheses, extensive research, and established clinical efficacy, this segment maintains a substantial market share.

Subretinal Implants emerges as the fastest-growing category in the Artificial Retina market. Subretinal implants circumvent the damaged photoreceptor layer and directly activate retinal cells. This market is growing rapidly due to subretinal implant technologies, excellent clinical trial findings, and the potential to increase visual acuity and patient outcomes. Due to increased research and development into subretinal implant performance and safety, the market is likely to rise significantly.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Artificial Retina Industry. Request a Free Sample PDF!

Artificial Retina Market Disease Indication Segment Analysis

According to Cognitive Market Research, the dominant category is Age-Related Macular Degeneration (AMD). AMD is a prominent cause of visual loss in older persons, and the desire for effective AMD therapies is driving this segment's rise. Bypassing the injured macula and activating the remaining retinal cells, artificial retina systems may restore vision. AMD dominates the market because to its prevalence, awareness, and diagnostic rates.

The fastest-growing category in the Artificial Retina market is Retinitis Pigmentosa (RP). It's one of the most prevalent hereditary retinal illnesses, thus effective therapies are in need. Modern retinal implants for RP are more effective and accessible, increasing their usage. Research & development, funded by governmental and commercial sources, is also boosting RP solution development. Rapid expansion of RP applications in the artificial retina industry is partly due to patient awareness and activism and favorable regulatory frameworks.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Artificial Retina End-User Segment Analysis

Artificial Retina Market End-User Segment Analysis

According to Cognitive Market Research, the dominant category is Multi-Specialty Hospitals. Due to their comprehensive facilities, advanced medical apparatus, and capacity to manage intricate surgeries and postoperative care, they have achieved this level of dominance.

The fastest-growing category in the Artificial Retina market is Research Institutes. Increasing attention is being paid to research and development efforts in order to create and enhance artificial retina technology, which is the primary vehicle behind this fast expansion.

• Multi-Specialty Hospitals
• Ophthalmic Clinics
• Research Institutes

Author's Detail

Anushka Gore

Research Associate at Cognitive Market Research

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Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.

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