The global bionic eye market size is expected to reach USD 476.0 million by 2027, expanding at a CAGR of 12.7%, according to a new report by Grand View Research, Inc. The market players are rapidly developing novel devices to cater to the unmet patient needs, due to the lack of treatment options available for permanently blind individuals. For instance, in November 2017, fast track approval was granted by the U.S. FDA for Second Sight Medical’s Orion bionic eye. The device uses a brain implant and camera to bypass the optic nerve in visually impaired patients. Also, researchers at Monash University, Australia, and Illinois Institute of Technology, Chicago are working on similar devices that can connect to the brain directly.
Increasing
research advancements to develop novel solutions for the growing prevalence of
rare genetic conditions causing vision loss and increasing clinical trials are
driving the market. According to the article published in MIT Technology, an
estimated 1.5 million people worldwide, including around 100,000 people in the
U.S., have retinitis pigmentosa. In January 2018, Pixium Vision received the
U.S.FDA approval to initiate the clinical trials for PRIMA, a sub-retinal
implant. The implant was approved for trial in patients with atrophic dry
Age-related Macular Degeneration (AMD).
Full Research Report On Bionic Eye Market Visit Here:
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Bionic Eye Market
Report Highlights
- North America
captured the largest share in 2019 owing to technological advancement and
the presence of key industry players
- By product
type, the external implant segment dominated the market in 2019 owing to
the increasing number of product launches and the growing number of
clinical trials
- Based on
technology, the electric segment dominated the market due to the rising
adoption of these devices and advanced features. The device delivers
visual information to the brain to improve awareness of external objects
- By end-use,
the hospital segment dominated the market owing to rising healthcare
expenditure and the rising demand for artificial vision implants
- Market
players are adopting several strategies such as higher investment in
research and development and technological innovation to improve available
pixel resolution for eye implants.
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Bionic Eye Market
Segmentation
Grand View Research has
segmented bionic eye market based on type, technology, end-use, and region:
Bionic Eye Type
Outlook (Revenue, USD Million, 2016 - 2027)
- External Eye
- Implanted Eye
Bionic Eye
Technology Outlook (Revenue, USD Million, 2016 - 2027)
- Electronic
- Mechanical
Bionic Eye End-use
Outlook (Revenue, USD Million, 2016 - 2027)
- Hospitals
- Ophthalmic Clinics
- Others
Bionic Eye
Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- The U.S.
- Canada
- Europe
- The U.K.
- Germany
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- South Korea
- Australia
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
List of Key
Players of Bionic Eye Market
- Second Sight Medical Products LLC
- Nidek Co. Ltd.
- Nano Retina Ltd.
- MetaModal
LLC
- Biomedical Technologies S.L.
- Bionic Vision Technologies
- Pixium Vision
- Monash Vision Group
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company, registered
in the State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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