Dublin, Oct. 30, 2023 (GLOBE NEWSWIRE) -- The "Retinal Implants Market Size, Share & Trends Analysis Report By Device Type (Retina Implant Alpha AMS, Implantable Miniature Telescope, Argus II), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global retinal implant market is poised for significant expansion, with a projected valuation of USD 112.2 million by 2030, marking a robust Compound Annual Growth Rate (CAGR) of 10.8% from 2023 to 2030.
Key drivers of this growth include the increasing prevalence of target diseases and a rising geriatric population. The market's ability to restore vision is expected to drive demand in the coming years.
Retinitis Pigmentosa (RP) and Age-Related Macular Degeneration (AMD) are currently treated using conventional methods such as laser therapy and Photodynamic Therapy (PTD), along with drugs like Lucentis, Macugen, Eylea, and Vitamin A. While these treatments can slow disease progression and delay blindness, none can fully cure the disease or restore vision. Consequently, there is a high demand for treatment procedures that can successfully restore vision.
Approved retinal implant devices utilize electrodes, camera chips, lenses, software, and other tools to restore vision. Devices like the implantable miniature telescope, Argus II, are user-friendly and enable patients to carry out daily activities with ease. These devices have a prolonged lifespan, eliminating the need for additional surgeries. The capability of advanced implantable devices to restore vision is expected to drive market growth in the near future.
The increasing global geriatric population and rising disposable income in developing economies, including Japan, China, and India, are also poised to boost the retinal implant market. Additionally, rising healthcare expenditures by both governments and the private sector, as well as initiatives by major market players to expand into untapped regions, are anticipated to fuel growth in the coming years.
Companies Mentioned
- Abbott
- Bionic Vision Technologies
- Labtician Ophthalmics, Inc.
- Nano Retina
- Koninklijke Philips N.V.
- Pixium Vision
- Retina Implant AG
- Second Sight
- VisionCare, Inc.
- Visus Technology, Inc.
- Boston Retinal Implant Project
- Cicor Management AG
Retinal Implants Market Report Highlights:
- Implantable Miniature Telescope Segment Takes the Lead: The implantable miniature telescope segment is projected to witness the highest CAGR in terms of revenue over the forecast period. This growth is driven by the increasing prevalence of AMD among the geriatric population and the use of implantable devices to treat vision problems.
- Asia Pacific Emerges as a High-Growth Region: Asia Pacific is expected to experience the fastest CAGR of 11.2% over the forecast period, attributed to the increasing geriatric population and disposable income in the region.
- Leadership by Key Players: VisionCare, Inc.; Retina Implant AG; and Second Sight Medical Products, Inc. are expected to dominate the retinal implant market over the forecast period.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 60 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $49.3 Million |
| Forecasted Market Value (USD) by 2030 | $112.2 Million |
| Compound Annual Growth Rate | 10.8% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Retinal Implants Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent Market Outlook
3.1.2. Related/Ancillary Market Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.4. Retinal Implants Market Analysis Tools
Chapter 4. Retinal Implants: Device Type Estimates & Trend Analysis
Chapter 5. Retinal Implants Market: Regional Estimates & Trend Analysis
Chapter 6. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/g4vf1k
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