Artificial Retina Market 2022 Global Key Vendors Analysis, Revenue, Trends & Forecast to 2028

Another factual information on the "𝐀𝐫𝐭𝐢𝐟𝐢𝐜𝐢𝐚𝐥 𝐑𝐞𝐭𝐢𝐧𝐚 𝐌𝐚𝐫𝐤𝐞𝐭" has as of late added by CMI to its storehouse. This research report offers an inside and out examination of various perspectives, for example, market patterns, pieces of the overall industry, drivers, restrictions, opportunities. It gives an investigative view to settle on further choices in organizations. It covers comprehensive instructive information of various key players working over the globe.

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Artificial retina market is a major breakthrough in medical devices industry, wherein many universities and leading medical devices companies are conducting research to offer vision to over 285 million visually impaired population worldwide.  These devices are mainly nanorod carbon nanotube biomimetic films along with accessory devices such as transmitter and video processing unit (VPU).

Artificial Retina Market Dynamics

Product innovation is a key artificial retina market trend. The ophthalmic industry has become more competitive over the last few years. Established ophthalmic product categories have become more mature, in turn offering low level of market opportunity for players. Most companies are emphasizing on price level strategy in order to enhance their business presence worldwide. However, the pricing trend could potentially benefit the company on a shorter scale during the forecast period. The artificial retina market is expected to be further driven by joint collaboration of medical device companies with government initiated project. For instance, DOE Artificial Retina Project is one such initiative by the U.S. government to develop artificial retinas for visually impaired population.

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Key Developments

Research and development activities, coupled with technological innovations by key players is driving growth of the artificial retina market. For instance, in August 2018, researchers from the University of Texas at Austin and Seoul National University reported that they had successfully developed a novel ultrathin artificial retina based on thin 2D materials such as graphene and molybdenum disulfide.

Moreover, market players are focused on strategic collaborations and on obtaining funds to strengthen their position in the market. In July 2019, Singapore-based Leben Care, which specializes in automated analysis of retina image using AI algorithms, received funding from IP Ventures. Leben Care plans to utilize these funds to strengthen its product, sales and marketing teams.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞:

Key players active in the global artificial retina market are 𝐒𝐞𝐜𝐨𝐧𝐝 𝐒𝐢𝐠𝐡𝐭𝐬, 𝐍𝐚𝐧𝐨-𝐑𝐞𝐭𝐢𝐧𝐚, 𝐚𝐧𝐝 𝐎𝐩𝐭𝐨𝐛𝐢𝐨𝐧𝐢𝐜𝐬, 𝐚𝐦𝐨𝐧𝐠 𝐨𝐭𝐡𝐞𝐫𝐬.

Moreover, government initiatives for the development of artificial retina is expected to propel growth of the global artificial retina market. Government organizations and medical device companies are collaborating to develop artificial retina for visually impaired population. For instance, the U.S. government launched the DOE Artificial Retina Project to develop artificial retinas for visually impaired population.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

North America and Europe are expected witness robust growth in the global artificial retina market due to the increasing research and development and robust healthcare infrastructure in these regions. In North America, the healthcare industry is undergoing a major transformation due to the implementation of various health reforms. More than 50,000 Americans go blind every year in North America. The region is home to a population of over 10 million visually impaired people seeking effective treatment.

Moreover, Asia Pacific is expected witness robust growth in the global artificial retina market due to the increasing prevalence of vision impairment in this region. For instance, the region is home to more than 55% of the global visually impaired population. The prevalence of RP is high in this region.

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