Retinal implants Market have proven its mettle as a breakthrough therapy in the treatment of visual impairment. The global retinal implants market is perceived to be growing at a recurring rate and is expected to reach high revenue figures in the coming years, as per the analysis of Market Research Future (MRFR).
Global Retinal Implants Market key Players are Philips Healthcare, Retina Implant AG, Second Sight Medical Products, Inc. Bionic Eye Technologies, Inc., Bionic Vision Australia, VisionCare Ophthalmic Technologies, Inc, Abbott Vascular.
Global Retinal Implants Market Has Been Segmented into device type, disease indication, and end user.
- By device type, the market has been segmented into retina implant alpha AMS, Argus II, implantable miniature telescope, and others.
- By disease indication, the market has been segmented into age-related macular degeneration (AMD) and retinitis pigmentosa.
- By end user, the market has been segmented into multi-specialty hospitals, ophthalmic clinics, and research institutes.
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The global retinal implant market has been flourishing on account of the widespread prevalence of eye disorders across the globe. Growing cases of retinal disorders have induced high demand for retinal implants since they aid in the restoration of vision. Retinal implants have demonstrated significance for application in eye disorders which were once far-off impossible to achieve.
The fact that these devices can be implanted with minimally invasive procedures has added to its popularity and driven the market. The rise in geriatric population is a crucial factor driving the growth of the retinal implant market. Owing to various health insufficiencies, the aging population is more susceptible to acquiring visual impairment and require retinal implant.
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Geographically, the global healthcare cold chain logistics market has been segmented into four major regions such as North America, Asia Pacific, Europe and the rest of the world.
North America, Europe, Asia Pacific, and the Rest of the World are the key markets for retinal implants. North America accounts for a substantial share of the global market. Higher availability of the product, improving reimbursement scenario and higher affordability in the region supports the growth of the North America market for retinal implants. Presence of highly skilled surgeons to perform immensely complex surgical procedure also accelerates adoption in the region.
In Europe, the market is driven by an increase in R&D activities and the expansion of clinical trials.
Presence of developing countries such as India, China, and Japan, who outlay massive amounts on healthcare expenditure, coupled with growing disposable income and affordability supports the growth of the market in Asia Pacific.
Rest of the World market is expected to fare well in the coming years since various market players are foraying into the untapped regions to leverage the potential they offer for market expansion.
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