Retinal Implants Market Scope
Retinal prostheses, also known as bionic eyes, are electronic implants intended to generate visual perception in individuals with retinal conditions like retinitis pigmentosa or age-related macular degeneration. These devices are designed to stimulate vision sensations directly in the eyes, targeting cases where the optic nerve and visual cortex remain unimpaired. Several private companies and research institutions are developed retinal implants, with three types undergoing clinical trials: epiretinal (placed on the retina), subretinal (positioned behind the retina), and suprachoroidal (located between the choroid and the sclera). These implants function by electrically stimulating the remaining retinal neurons, allowing visual information to be introduced into the retina. However, the resolution of the perceived images generated by these implants has been relatively low thus far, making them more suitable for tasks such as perceiving light and recognizing basic objects. The demand for the retinal implant market is growing by the technological advancements, the increasing geriatric population, and rising eye diseases.
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|Key Companies Profiled||Pixium Vision (France), Nano Retina (Israel), Gensight Biologics (France), Nidek Co., LTD. (Japan), Biovisics (United States), Vivani Medical Inc. (United States), Labtician Ophthalmics, Inc. (Canada), Abbott (United States), Drägerwerk AG & Co. KGaA (Germany) and Bionic Eye Technologies (United States)|
Various companies are currently engaged in developing and conducting clinical trials for their respective retinal implant technologies. These companies have a common goal of enhancing visual outcomes and improving the quality of life for individuals experiencing severe vision loss. As the field of retinal implants continues to advance, it is anticipated that the competitive landscape will undergo significant transformations, driven by the emergence of new technologies and innovative approaches in this field.
Pixium Vision (France), Nano Retina (Israel), Gensight Biologics (France), Nidek Co., LTD. (Japan), Biovisics (United States), Vivani Medical Inc. (United States), Labtician Ophthalmics, Inc. (Canada), Abbott (United States), Drägerwerk AG & Co. KGaA (Germany) and Bionic Eye Technologies (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Philips Healthcare, Bionic Vision Technologies. (Australia), Visus Technology AB (United States), iBIONICS (Canada) and Optobionics (United States).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Retinal Implants market by Type , by Application (Hospital, Diagnostic Laboratory, Ambulatory Surgical Centres and Other) and Region with country level break-up.
On the basis of geography, the market of Retinal Implants has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2022.
Market Leaders and their expansionary development strategiesIn June 2023, Second Sight merged with NPM to Become Vivani. This merger signifies a momentous achievement for Vivani and highlights our ongoing commitment to company expansion. With a formidable team, ample funding, and a promising group of investors who share their vision, they are poised to develop and bring to market a compelling range of miniature drug implants. These innovative implants hold great potential in addressing the prevalent issue of medication non-adherence, particularly in the treatment of chronic diseases like Type II diabetes. and In January 2021, Philips announced acquired Capsule Technologies for a cash consideration of USD 635 million. Capsule's medical device information platform utilizes a vendor-neutral system to seamlessly connect a wide range of medical devices and electronic health records within hospitals. This comprehensive platform gathers and analyzes patient data, bridging the gap between various devices and systems for enhanced efficiency and data utilization.
In June 2023, Pixium Vision specializes in the creation of bionic vision systems designed to assist individuals experiencing significant vision impairment. Their primary offering, known as Prima, is a cutting-edge wireless sub-retinal implant system developed specifically for individuals with dry age-related macular degeneration. In the fourth quarter of 2022, the company initiated implantations as part of the European PRIMAvera pivotal study.
Influencing Trend:Improved Visual performance of retinal implants and visual performance, Advancements in technology make retinal devices smaller and more sophisticated and Easily accessibility and affordability
Market Growth Drivers:Increasing numbers of retinal diseases and Continuous advancements in retinal implant technologies
Challenges:Identifying appropriate candidates for retinal implants poses a significant challenge. and Securing regulatory approvals can be a demanding and expensive endeavor.
Restraints:Restricted visual resolution compared to the natural visual retina and Retinal implants surgeries are complex and risky and needed more skilled labors
Opportunities:Lack of awareness about retinal implants in the rural market and many other regions and Improving visual recognition, color discrimination, and motion perception