Retinal Implants Market Research Report Information By Type (Argus II, Implantable Miniature Telescope, Retina Implant Alpha AMS) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

Global Retinal Implants Market Overview

The Retinal Implants Market Size was valued at USD 18.6 billion in 2022. The Retinal Implants market industry is projected to grow from USD20.5716 billion in 2023 to USD 46.0584 billion by 2032, exhibiting compound annual growth rate (CAGR) of 10.60%during the forecast period (2023 - 2032). Retinal implants and prostheses R&D has increased in recent years owing to their immense market potential and surging awareness initiatives, advancements in technologies leading to novel product launchesare the key market drivers enhancing the market growth. 

Source Secondary Research, Primary Research, MRFR Database, and Analyst Review

Retinal Implants Market Trends

• The rise in the geriatric population is driving the market growth

The rise in the geriatric population that is vulnerable to eye diseases drives the growth of the artificial retina market during the forecast period. For instance, according to the review article "Macular Degeneration" of the National Library of Medicine, published in August 2022, age-related macular degeneration (ARMD) is the most common cause of blindness prevalent in developed countries, particularly in people older than 60 years. According to the same source, AMRD accounts for 8.7% of all types of blindness worldwide. According to the article published in Geriatric Ophthalmology, in January 2021, 3.6 million individuals, or 18% of people over 70, were visually impaired. This factor increases the market CAGR in the forecast period.

Additionally, the rise in technological advancement and increase in research and development activities by key market players boost the market's growth during the forecast period. For instance, PIXIUM VISION, an innovative bionic vision systems company, is developing a PRIMA implant (sub-retinal implant) and the IRIS II, the only epi-retinal implant with 150 electrodes, intended for patients who have lost sight because of retinitis pigmentosa (RP). In addition, Axorus, a France company, developed subretinal implants for many patients suffering from age-related macular degeneration and retinitis pigmentosa. Therefore, the rise in research and development activities is expected to drive the Retinal Implants market revenue growth during the forecast period.

Retinal Implants Market Segment Insights

Retinal Implants Type Insights

Based on Type, the Retinal Implants market segmentation includes Argus II, Implantable Miniature Telescope, and Retina Implant Alpha AMS. The Argus II segment dominated the market due to the increasing adoption of these devices ly as implants, technological advancements, and novel product launches.

Figure1 Retinal Implants Market, by Type, 2022&2032 (USD billion)

Source Secondary Research, Primary Research, MRFR Database, and Analyst Review

Retinal Implants Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American retinal implants market will dominate due to its large population, excellent medical infrastructure, and high-income levels, which will boost the market growth in this Region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2 RETINAL IMPLANTS MARKET SHARE BY REGION 2022 (%)

Source Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe's Retinal Implants market accounts for the second-largest market share due to the Increasing expenditure on healthcare. Raising awareness among people also contributes to this Region's market growth. Further, the German Retinal Implants market held the largest market share, and the UK Retinal Implants market was the fastest-growing market in the European Region.

The Asia-Pacific Retinal Implants Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due tothe High prevalence of degenerative conditions and technological advancements that boost the market growth in this Region. Moreover, China’s Retinal Implants market held the largest market share, and the Indian Retinal Implants market was the fastest-growing market in the Asia-Pacific region.

Retinal Implants Key Market Players& Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the retinal implants market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The retinal implants industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Retinal Implants industry to benefit clients and increase the market sector. The Retinal Implants industry has offered some of the most significant medical advantages in recent years. Major players in the Retinal Implants market, including Philips Healthcare, Retina Implant AG, Second Sight Medical Products, Inc., Bionic Eye Technologies, Inc., Bionic Vision Australia, VisionCare Ophthalmic Technologies, Inc, Abbott Vascular, and others, are attempting to increase market demand by investing in research and development operations.

LambdaVision is developing a protein-based artificial retina to restore meaningful vision for millions of patients blinded by retinal degenerative diseases.LambdaVision, an innovative biotechnology company developing a novel treatment to help patients regain sight, has been selected by NASA for a Small Business Innovation Research (SBIR) Phase II award worth $750,000 over two years. With the continued support of NASA, LambdaVision will advance the development of its protein-based artificial retina. This award complements a recent $5M NASA Commercialization Award received by LambdaVision and its partner, Space Tango, for continued work on the International Space Station (ISS) to establish pilot-scale production systems for artificial retina and other future biomedical applications.

Bionic Vision Technologies (BVT) is a privately held Australian company that develops visual prostheses to restore vision to blind people. The devices electrically stimulate the remaining retinal cells in patients with retinal degeneration.Bionic Vision Technologies announced a strategic partnership with Cirtec Medical Company, a U.S. medical technology company. Under this partnership, Cirtec will assist Bionic Vision Technologies in developing and manufacturing the next-generation bionic eye system.

Key Companies in the retinal implants market include

• Philips Healthcare


• Retina Implant AG


• Second Sight Medical Products Inc. Bionic Eye Technologies Inc.


• Bionic Vision Australia


• Vision Care Ophthalmic Technologies Inc


• Abbott Vascular

Retinal Implants Industry Developments

June 2020 LambdaVision, an innovative biotechnology company developing a novel treatment to help patients regain sight, has been selected by NASA for a Small Business Innovation Research (SBIR) Phase II award worth $750,000 over two years. With the continued support of NASA, LambdaVision will advance the development of its protein-based artificial retina. This award complements a recent $5M NASA Commercialization Award received by LambdaVision and its partner, Space Tango, for continued work on the International Space Station (ISS) to establish pilot-scale production systems for artificial retina and other future biomedical applications.

July 2022 Nidek Co., Ltd. acquired 90% shares of Nidek Medical S.R.L., a sales and service company of ophthalmic devices. This acquisition will help the company to increase the success between Nidek Medical and Nidek.

Retinal Implants Market Segmentation

Retinal implants Type Outlook

• Argus II


• Implantable Miniature Telescope


• Retina Implant Alpha AMS

Retinal Implants Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America
  
  
  
  

Report Scope:

Retinal Implants Report Scope

Report Attribute/Metric	Details
Market Size2022	USD 18.6billion
Market Size 2023	USD 20.5716billion
Market Size2032	USD 46.0584billion
Compound Annual Growth Rate (CAGR)	16.26% (2023-2032)
Base Year	2022
Market Forecast Period	2023-2032
Historical Data	2018- 2022
Market Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered	Type, Region
Geographies Covered	North America, Europe, AsiaPacific, and the Rest of the World
Countries Covered	The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled	Philips Healthcare, Retina Implant AG, Second Sight Medical Products, Inc., Bionic Eye Technologies, Inc., Bionic Vision Australia, VisionCare Ophthalmic Technologies, Inc, Abbott Vascular
Key Market Opportunities	New product launches and R&D Amongst major key Players
Key Market Dynamics	High prevalence of degenerative conditions  Technological advancements

Frequently Asked Questions (FAQ) :