IMARC Group, a leading market research company, has recently releases report titled “Bionic Eye Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global bionic eye market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Bionic Eye Market?
The global bionic eye market size reached US$ 267.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 544.5 Million by 2028, exhibiting a growth rate (CAGR) of 12.88% during 2023-2028.
What is Bionic Eye?
A bionic eye, also known as a retinal implant or visual prosthesis, is a medical device designed to restore vision in individuals with severe vision impairment or complete blindness. It is an artificial visual system that bypasses the normal visual pathway and directly stimulates the remaining functional cells of the optical system to create the perception of sight. It involves capturing visual information using a camera and converting it into electrical signals that are transmitted to an implanted device within the eye or connected to the visual cortex of the brain.
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What are the growth prospects and trends in the bionic eye industry?
The surging prevalence of diabetes, thyroid disorders, Sjogren’s syndrome, lupus, scleroderma, rheumatoid arthritis, macular degeneration, and ocular diseases represents one of the primary factors driving the demand for bionic eyes around the world.
Moreover, the increasing geriatric population, which is more prone to develop eye-related conditions, is favoring the growth of the market. In addition, the rising awareness among individuals about the available treatment alternatives for complete or partial blindness is bolstering the market growth.
Apart from this, key players are extensively investing in various research and development (R&D) activities to improve the efficiency of bionic eyes and minimize the cost of production for mass utilization. Along with this, significant improvements in the healthcare infrastructure are propelling the market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- External Eye
- Implanted Eye
Breakup by Technology:
Breakup by End User:
- Ophthalmic Clinics
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
AAV Media LLC, Bionic Vision Technologies, iBIONICS, Monash Vision Group, NIDEK Co. Ltd., Pixium Vision and Second Sight Medical Products Inc.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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