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Retinal Implant Market Size, Share & Trends Forecast | 2031
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Retinal Implant Market Size, Share & Trends Forecast | 2031

Segments - Retinal Implant Market by Types (Argus II, Retina Implant Alpha-IMS, Implantable Miniature Telescope (IMT), and Others) and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Author : Raksha Sharma
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Fact-checked by : V. Chandola
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Editor : Vishal Golekar

Upcoming | Report ID :HC-4447 | 4.5 Rating | 80 Reviews | 165 Pages | Format : PDF Excel PPT

Report Description


The global retinal implant market size was valued at USD 34.47 Billion in 2022 and is anticipated to reach USD 89.62 Billion by 2031, expanding at a CAGR of 11.2% during the forecast period, 2023-2031. Retinal implants are also known as bionic eyes. They are biomedical microchips designed to provide visual awareness to people suffering from various eye diseases such as retinitis pigmentosa and age-related macular degeneration, and have lost vision.

The COVID-19 pandemic had negatively impacted the market growth owing to various hospitals focusing on the treatment of COVID-19. Many beds in hospitals were reserved for the COVID-19 patients. However, the acceleration in vaccination drive is estimated to fuel the growth of the market.

Retinal Implant Market Outlook

  • The development of efficient and advanced technology for retinal implants is expected to drive the market growth.
  • Increasing incidence of retinitis pigmentosa (RP) can stimulate the market growth in the coming years.
  • Rising government initiatives to increase the awareness regarding retinal implant can positively influence the growth of the market.
  • Growing geriatric population and occurrence of degenerative conditions are the prime growth drivers of the global retinal implant market.
  • High cost of the research and development, risk of biocompatibility, and long-term stability of the material used for devising retinal implants can hinder the market growth.
  • Complex nature of implant surgeries, lack of trained professionals, and high cost of surgeries are the key restraints for retinal implant market
  • Increasing adoption of retinal implant in emerging economies such as China, India, and Indonesia is estimated to create lucrative opportunities for the retinal implant market.

Scope of Retinal Implant Market Report

The report on the global retinal implant market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Retinal Implant Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Types (Argus II, Retina Implant Alpha-IMS, Implantable Miniature Telescope (IMT), and Others)

Regional Scope

Asia Pacific, North America, Europe, Latin America, and Middle East & Africa

Report Coverage

Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast

Key Players Covered

Retina Implant AG, Vivani Medical Inc., and VisionCare, Inc.

Retinal Implant Market Segment Insights

Types Segment Analysis

On the basis of types, the market can be segmented into Argus II, retina implant alpha-IMS, implantable miniature telescope (IMT), and others. The Argus II segment is expected to grow at a rapid pace during the forecasted period. Argus II is an epiretinal implant and is used mainly to cure retinitis pigmentosa.

Retinitis pigmentosa is one of the most common diseases that occur in the retina. According to National Institute of Health, one in 4,000 to 4,500 people in Europe and the US are affected by this eye disease. This disease is hereditary and Argus II is helping to cure this disease. Many companies are focusing on the development of Argus II in which the requirement for additional surgery is eliminated.

Retinal Implant Market Types

Regional Analysis 

In terms of regions, the market can be divided into Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa. North America is anticipated to account for a large market share during the forecast period. The high occurrence of progressive conditions and technological developments are major factors that are spurring the growth of the North America retinal implants market during the forecast period.

However, Asia pacific is also expected to hold a significant share in the market, on account of the growing population in the region and available resources. Moreover, the increasing healthcare budget by government state bodies and private sectors is anticipated to drive the growth of the market. On the other hand, Latin America is estimated to account for a major market share due to high expenditure on healthcare facilities.

Retinal Implant Market Region

Segments

Types

  • Argus II
  • Retina Implant Alpha-IMS
  • Implantable Miniature Telescope (IMT)
  • Others

Regions

  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa

Key Players

Competitive Landscape

The key players in the market are Retina Implant AG, Vivani Medical Inc., and VisionCare, Inc. Mainly, companies in this market are active in developed regions such as North America and Europe. Key players are accepting new plans such as launching new products to improve their position in the market.

  • In October 2017, Retina Implant AG announced that the patients who are going under the surgery of alpha-IMS will be given the whole money back. Such initiatives have provided free surgery to people who are not sound economically. Many market players are trying to enter new regions to increase their market share.
  • In February 2018, Second sight medical products said that it will enter in the Singapore retinal implant market by seeking help from its collaboration with local industry players.

Retinal Implant Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Retinal Implant Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Retinal Implant Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Retinal Implant Market - Supply Chain
  4.5. Global Retinal Implant Market Forecast
     4.5.1. Retinal Implant Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Retinal Implant Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Retinal Implant Market Absolute $ Opportunity
5. Global Retinal Implant Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Retinal Implant Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Retinal Implant Demand Share Forecast, 2019-2026
6. North America Retinal Implant Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Retinal Implant Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Retinal Implant Demand Share Forecast, 2019-2026
7. Latin America Retinal Implant Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Retinal Implant Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Retinal Implant Demand Share Forecast, 2019-2026
8. Europe Retinal Implant Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Retinal Implant Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Retinal Implant Demand Share Forecast, 2019-2026
9. Asia Pacific Retinal Implant Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Retinal Implant Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Retinal Implant Demand Share Forecast, 2019-2026
10. Middle East & Africa Retinal Implant Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Retinal Implant Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Retinal Implant Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Retinal Implant Market: Market Share Analysis
  11.2. Retinal Implant Distributors and Customers
  11.3. Retinal Implant Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Retina Implant AG
     11.4.2. Second Sight Medical Products Inc.
     11.4.3. VisionCare, Inc

Methodology

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