Wireless visual cortical stimulator devices are a type of visual prosthetic used to restore functional vision to blind individuals. They work by providing electrical stimulation that bypasses damaged retinal cells and stimulates healthy cells to induce visual perception. Second Sight announced the first implantation of its Orion I Visual Cortical Prosthesis (Orion I), a wireless visual cortical stimulator, in a 30-year-old blind patient on October 26, 2016. The goal of this implantation was to provide human proof for the ongoing development of the device. Second Sight’s Argus II System, a visual cortical stimulator that received FDA approval in 2013, also provides electrical stimulation to bypass defunct retinal cells and stimulate viable cells. The key difference between Orion I and Argus II System is that Orion I uses wireless technology to restore vision to patients completely blind due to conditions such as glaucoma, cancer, diabetic retinopathy, or trauma. The first implantation of Orion I successfully perceived and localized individual light spots without any side effects. While not all technological developments offer significant opportunities, the first human test of Orion I proved to be able to treat visually impaired patients with no side effects. The company plans to submit an application to the FDA in early 2017 for the initial completion of clinical trials for the complete system.
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The market for wireless visual cortical stimulators is divided into two segments based on indication type and end users. The indication type segment includes cancer, diabetic retinopathy, trauma, glaucoma, and other indications. Among these, diabetic retinopathy and glaucoma are projected to make a significant contribution to the overall market. The end-user segment of the visual cortical stimulator market includes hospitals, ambulatory surgical centers, emergency care units, specialized clinics, and others.
Taxonomy of the world market for wireless visual cortical stimulators
The market for wireless visual cortical stimulators is categorized based on two primary segments:
- Indication Type:
- Diabetic Retinopathy
- End Users:
- Ambulatory Surgical Centers
- Emergency Care Units
- Specialized Clinics
Good Future Outlook for the Market for Wireless Visual Cortical Stimulator Due to Growing Diabetic Retinopathy
Wireless visual cortical stimulator market is projected to experience substantial growth in the coming years, primarily attributed to the rising incidence of diabetic retinopathy cases worldwide, which is the fifth leading cause of preventable blindness and moderate to severe visual impairment. In 2010, around 285 million individuals globally were estimated to have diabetes. In addition to this, the increasing cases of trauma and cancer are expected to offer lucrative growth prospects to manufacturers and developers of wireless visual cortical stimulators.
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The increasing incidence of blindness caused by diabetes has become a major concern, leading to government and organization initiatives to raise awareness among patients and promote blindness treatment through campaigns and diabetes awareness programs. In India, for example, the Kasturba Heath Society, Mahatma Gandhi Institute of Medical Sciences initiated a diabetic care program in October 2016 to prevent blindness from diabetic retinopathy. The Vision Health Initiative (VHI) by the Center for Disease Control and Prevention is another program aimed at creating an effective network for vision loss prevention and eye health promotion. However, alternative treatment methods such as medication may hinder the growth of the wireless visual cortical stimulator market. Additionally, the time required for FDA approval and adoption of the device may also impede the industry’s overall growth. North America and Europe are expected to be major contributors to market revenue due to their early adoption of new technologies.
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• Current and future of Wireless Visual Cortical Stimulator Market outlook in the developed and emerging markets
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• The latest developments, market shares, and strategies that are employed by the major market players
The Wireless Visual Cortical Stimulator Market is displayed in 13 Chapters:
Chapter 1: Market Overview, Drivers, Restraints and Opportunities
Chapter 2: Market Competition by Manufacturers
Chapter 3: Production by Regions
Chapter 4: Consumption by Regions
Chapter 5: Production, By Types, Revenue and Market share by Types
Chapter 6: Consumption, By Applications, Market share (%) and Growth Rate by Applications
Chapter 7: Complete profiling and analysis of Manufacturers
Chapter 8: Manufacturing cost analysis, Raw materials analysis, Region-wise manufacturing expenses
Chapter 9: Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10: Marketing Strategy Analysis, Distributors/Traders
Chapter 11: Market Effect Factors Analysis
Chapter 12: Market Forecast
Chapter 13: Wireless Visual Cortical Stimulator Research Findings and Conclusion, Appendix, methodology and data source
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