Bionic Eye Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Implant v/s External), By Technology (Electronic v/s Mechanical), By End User (Hospitals, Ophthalmic Clinics, Others), By Region, and Competition
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationBionic Eye Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Implant v/s External), By Technology (Electronic v/s Mechanical), By End User (Hospitals, Ophthalmic Clinics, Others), By Region, and Competition
The most frequent cause of blindness in developed nations, especially in persons over 60 years old, is age-related macular degeneration, which is responsible for 87 percent of all blindness globally.
Vision impairment, which is expected to cost the world's economy USD 411 billion annually in productivity losses, is a major financial burden, according to the World Health Organization. Uncorrected refractive errors and cataracts are the main causes of vision loss and blindness
Rise in Prevalence of Eye Diseases
There are various eye-related diseases associated with lifestyle changes that, if not addressed in a timely manner, might impair a person's ability to see. Eye conditions include cataract, diabetic retinopathy, and glaucoma are among the most common eye conditions among people worldwide.
According to WHO, low- and middle-income countries have a four times higher prevalence of distant vision impairment than high-income ones.
Full, partial, and color vision loss can be caused by a wide range of conditions, including heredity, disease, and injury. The photoreceptors (the rods and cones) are destroyed in some types of hereditary blindness, such as retinitis pigmentosa, which results in visual loss while leaving most of the other retinal cells intact. Others, including glaucoma or acute eye injury, may cause long-term harm to the optic nerve and visual circuits. Due to these differences, researchers are working on to develop different types of bionic eye implants according to the percentage of eye blindness, among these types the two showing most promising result are retinal implant and cortical implant.
Technological Development Across the Globe
The bionic eye is a visual prosthesis, an electric device that helps the patient in restoring the sense of vision. Bionic eyes are currently under development and more feature needs to be enhanced in its technology as it still can’t help in restoring the 20/20 vision in people. Most of the bionic eyes which are being developed in across the globe primarily requires a healthy optic nerve and a developed visual cortex.
Many countries across the globe are working on developing the bionic eyes which can restore the full eye vision in the patients. Australia is among those countries which is persistent in developing this type of bionic eye technology. Researchers are working on different devices, but these devices are somewhat similar in many ways, which have few key differences in them like development of epi-retinal which is designed by some researchers to be placed in front of the retina and other types which are designed to be placed behind the retina.
Bionic Vision Australia (BVA) has been developing many devices which particularly is designed to treat retinitis pigmentosa and age-related macular degeneration vision loss in patients.
American company Second Sight has developed ARGUS II a retinal implant which works by stimulation to induce visual perception
In Germany, the researchers of University of Tubingen in Germany developed a retinal prosthesis called Alpha IMS retinal prosthesis which is designed for patients with degenerative outer retinal disease by implanting it in the layer of degenerated photoreceptor cells
There are still some technological advancements that needs to be addressed for the restoration of full eyesight in visually impaired patients. Thus, consistent developments in the bionic eyes and adoption of the people around the globe with advancing technology is expected to bolster the growth of the Global Bionic Eye Market.
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Market Segmentation
Market Players
The major players operating in the global bionic eye market are Second Sight Medical Products Inc., Nidek Co. Ltd., Nano Retina Ltd., MetaModal LLC, Biomedical Technologies S.L., Bionic Vision Technologies, Pixium Vision S.A., Monash Vision Group, iBionics, Optobionics Corporation, etc.
| Attribute | Details |
| Base Year | 2022 |
| Historical Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028 |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments covered | · Type · Technology · End User |
| Regional scope | North America; Europe; Asia Pacific; South America; Middle East & Africa |
| Country scope | United States, Mexico, Canada, China, India, Japan, South Korea, Australia, Germany, France, United Kingdom, Spain, Italy, South Africa, UAE, Saudi Arabia, Brazil, Argentina, Colombia |
| Key companies profiled | Second Sight Medical Products Inc., Nidek Co. Ltd., Nano Retina Ltd., MetaModal LLC, Biomedical Technologies S.L., Bionic Vision Technologies, Pixium Vision S.A., Monash Vision Group, iBionics, Optobionics Corporation. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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