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Wireless Visual Cortical Stimulator Market Opportunity Analysis, 2018-2026

08-17-2018 03:19 PM CET | Health & Medicine

Press release from: Coherent Market Insights

Wireless Visual Cortical Stimulator Market Opportunity

Wireless visual cortical stimulator devices are visual prosthetics used to restore functional vision of a blind user. It provides electrical stimulator that bypasses defected retinal cells and stimulates viable cells to induce visual perception. On October 26, 2016, Second Sight, announced its first implantation in a 30-year blind patient to provide human proof for the ongoing development of Orion I Visual Cortical Prosthesis (Orion I), wireless visual cortical stimulator. In 2013, the U.S. FDA approved Second Sight’s Argus II System, a visual cortical stimulator that provides electrical stimulation that bypasses defunct retinal cells to stimulate viable cells. The difference between Orion I and Argus II System is that Orion I uses wireless technology.

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The device allows restoring vision to patients completely blind due to glaucoma, cancer, diabetic retinopathy or trauma cases. The first implantation proved that the device perceive and localize individual light spots with no side effects associated with it. It is rare that all technological development offers string opportunity, though the first human test of Orion I, wireless visual cortical stimulator proved to be able to treat visually impaired patients with no side effects. The company expects to submit the application to the FDA in early 2017 for the initial completion of clinical trial of the complete system.

Wireless visual cortical stimulator market is segmented on the basis of indication type and end users. On the basis of indication type, the market is segmented into cancer, diabetic retinopathy, trauma, glaucoma, and other indication. Diabetic retinopathy and glaucoma segments are expected to contribute major share to the overall market. ON the basis of end user, the visual cortical stimulator market is segmented into hospital, ambulatory surgical centers, emergency care units, specialized clinics, and others

Increasing Incidence of Diabetic Retinopathy Provides Positive Future Outlook for Wireless Visual Cortical Stimulator Market

The global wireless visual cortical stimulator is expected to witness significant growth in the near future due to increasing number of diabetic retinopathy cases reported worldwide. It is the fifth-most common cause of preventable blindness and moderate to severe visual impairment. In 2010, an estimated 285 million people worldwide suffered from diabetes. The increasing trauma cases and cancer cases are expected to create lucrative growth opportunity for wireless visual cortical stimulator manufacturers and developers.

The growing concern with blindness due to diabetes and governments or organizations initiatives to grow awareness among patients related to blindness treatment through campaigns and national diabetes awareness programs to act as a fuel to the growth of wireless visual cortical stimulator market. In October 2016, Kasturba Heath Society, Mahatma Gandhi Institute of Medical Sciences in India initiated diabetic care program to prevent blindness from diabetic retinopathy aimed to create awareness and prevent blindness from diabetic retinopathy.

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The CDC’s Vision Health Initiative (VHI) is one such initiative started by Center for Disease Control and Prevention aimed to create more effective network for vision loss prevention and eye health promotion. The presence of other alternative treatment methods like medication, visual cortical stimulator device will hamper the growth of wireless visual cortical stimulator. The time span for FDA approval and time required for adoption of device is expected to hamper the overall growth of wireless visual cortical stimulator industry. North America and Europe are expected to be major revenue contributors towards the market due to these regions being early adopters of novel technologies.

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Mr. Shah
Coherent Market Insights
1001 4th Ave, #3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

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