Home > Healthcare IT > Visual Prosthesis Market Size, Share, Analysis & Covid-19 Impact | Straits Research
Straits Research

Visual Prosthesis Market

Visual Prosthesis Market: Information By Type (Retina Implant Al0pha AMS, Implantable Miniature Telescope, Argus II), By Indication, End User and Regional Outlook-Forecast till 2031

Table of Content Download Sample

Market Overview

Global visual prosthesis market is expected to grow at a healthy CAGR of 10.1% during the forecast period 2023–2031.

Visual prosthesis makes use of integrated tools to hold the entire sorting of consumers and healthcare professionals, and medical device providers and hence results in enhanced care quality, improved patient engagement, and reduction in healthcare cost and expenditure. Many health care specialists recommend that through visual prosthesis, programmed health assessments could be carried out electronically and virtually. The terrestrial obstructions could be resolute with this technology by making it possible to diagnose patients away from the diagnostic center and clinics.

Retinal degenerative diseases such as retinitis pigmentosa (RP) and age-related macular degeneration (AMD), and accidents or injuries are some of the major factors responsible for causing complete or partial blindness among people. Global visual prosthesis market is expected to witness a surge in demand for treatment on account of increasing awareness related to daily eye care diagnostics and treatment, rising prevalence of retinal diseases among the aging population, and ongoing research & development activities. In a study, it has been found that about 81% of blind people or people with moderate or severe vision defects are over 50 years old.

However, new entrants in the market are more likely to change the market dynamics by offering the products at low prices. It would be interesting to see how existing players would overcome this challenge along with the longer time taken for approval of visual prosthesis by the Food & Drug Administration (FDA).

Market Snapshot

market snapshot
Base Year
: 2022
Study Period
: 2021-2031
CAGR
: 10.1 %
Fastest Growing Market
: Europe
Largest Market
: North America
Market Size
: 12
Get more information on this report Download Sample Report

Segmental Analysis

The global visual prosthesis market is segmented by product type, indication, end user, and region.

Based on product type, the global visual prosthesis market is segmented into retina implant alpha AMS, implantable miniature telescope, Argus II, and others. The retina implant alpha AMS is expected to dominate the market, owing to ongoing research & development and increasing prevalence of diseases affecting the retina.

By Indication

The market is segmented into age-related macular degeneration (AMD), retinitis pimentos (RP), and other retinal degenerative diseases. AMD is expected to grow significantly over the forecast period 2023–2031. Moreover, retinitis pigments (RP) is expected to register swift growth as a result of the rising prevalence of retinitis pigments and other diseases impacting retina across the globe.

Based on End user

The market is segmented into specialty eye clinics, eye hospitals, eye care centers, and others. Specialty eye clinics segment is expected to dominate the market owing to technological advancements in the eye clinics. Moreover, eye care centers segment is expected to experience swift growth due to the growing number of eye care centers across the globe.

Regional Analysis

In terms of region, the global visual prosthesis market is categorized into North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa.

North America is expected to hold a significant share of the global visual prosthesis market. Developed healthcare infrastructure, presence of prominent players in the region, especially in Canada, technological advancements, and ongoing research & development activities are projected to flourish the market growth.

Europe is projected to emerge as the second leading region in the global visual prosthesis market on account of the strong presence of global leaders including Intelligent Implants GmbH, Retina Implant AG, and PIXIUM VISION in the region and increased awareness among people regarding visual prosthesis.

The Asia-Pacific has considerable adoption of competent technologies and large population base suffering from eye diseases. As per the India Brand Equity Foundation, the hospital and diagnostic centers have attracted FDI worth USD 4.99 billion during  April 2000–December 2017. Various government and private organizations are sponsoring treatment cost across the region, which making people to opt for the treatment. The region is expected to witnessing staggering growth in the overall treatment demand in the years to come.

The Middle East and Africa are expiring growth in the overall awareness program in countries, including Brazil, Argentina, South Africa, Egypt, and others. However, some countries in MEA may enter the market late as a result of the lack of technology and healthcare infrastructure.

Latin America is expected to hold the least market share owing to poor healthcare infrastructure, unawareness among people regarding eye diseases, low per capita income, and lack of government support.

Visual Prosthesis Market Regional Analysis
Regional Growth Insights Download Free Sample

Top Key Players of Visual Prosthesis Market

  1. Optobionics (U.S)
  2. SECOND SIGHT (U.S)
  3. Intelligent Implants GmbH (Germany)
  4. Retina Implant AG (Germany)
  5. PIXIUM VISION (France)
  6. Bionic Vision Australia (Australia)
  7. NeoStrata (U.S)
  8. iBionics (Canada)

Report Scope

Report Metric Details
CAGR 10.1%
Forecast Period 2023-2031
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered
  1. By Product Type
    1. Retina Implant Alpha AMS
    2. Implantable Miniature Telescope
    3. Argus II
    4. Others
  2. By Indication
    1. Age-Related Macular Degeneration (AMD)
    2. Retinitis Pimentos (RP)
    3. Other Retinal Degenerative Diseases
  3. End-User
    1. Specialty eye clinics
    2. Eye hospitals
    3. Eye care centers
    4. Others
Geographies Covered
  • North America
  • Europe
  • APAC
  • Middle East and Africa
  • LATAM

Visual Prosthesis Market Segmentation

By Product Type

  • Retina Implant Alpha AMS
  • Implantable Miniature Telescope
  • Argus II
  • Others

By Indication

  • Age-Related Macular Degeneration (AMD)
  • Retinitis Pimentos (RP)
  • Other Retinal Degenerative Diseases

End-User

  • Specialty eye clinics
  • Eye hospitals
  • Eye care centers
  • Others

By Region

  • North America (U.S. and Canada)
  • Europe (Germany, France, Italy and Rest of Europe)
  • Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific)
  • MEA (Saudi Arabia, UAE, South Africa, and Rest of MEA)
  • Latin America (Brazil, Argentina, and Rest of Latin America)
Price Starts From
USD 995

Purchase Benefits

  • Eligible for a free updated report next year
  • Completely customizable scope
  • 30% discount on your next purchase
  • Dedicated account manager
  • Query resolution within 24 hours
  • Permission to print the report
Want to learn more about recent trends and data ?
They Already Trust Us :
Veto-Pharma
Nippon Becton Dickinson
Merck
Argon Medical Devices
Abbott
Johnson & Johnson
Need Assistance?
+1 646 480 7505 (U.S.)
+44 208 068 9665 (U.K.)
sales@straitsresearch.com

Report Benefits

  • Develop business strategies by understanding the trends shaping and driving the Market.
  • Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the MarketĀ in the future.
  • Formulate effective sales and marketing strategies by understanding the competitive landscape and by analysing the company share of market leaders.
  • Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage.
  • Track sales in the global and country-specific Market.
  • Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments and strategic partnerships.
Report Snapshot
Looking For Custom Report ?
Check Our License Options :

As featured on :

clients
Trusted by Fortune 500
Over 30000+ subscribers