Artificial Retina Market - Nano-Retina, Second Sights, and Optobionics
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Artificial Retina Market Dynamics
Product innovation is a key artificial retina market trend. The ophthalmic industry has become more competitive over the last few years. Established ophthalmic product categories have become more mature, in turn offering low level of market opportunity for players. Most companies are emphasizing on price level strategy in order to enhance their business presence worldwide. However, the pricing trend could potentially benefit the company on a shorter scale during the forecast period. Most major players stand to gain from investing in R&D activities to capitalize on long-term lucrative opportunities due to patent products and innovative technologies. In recent times, the artificial retina market has also witnessed the emergence of various startups especially in the high growth markets for U.S. and Israel. Artificial retina would create value-oriented customers in near future for these manufacturers.
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Key Vendors of Artificial Retina Market: Nano-Retina, Second Sights, and Optobionics.
Artificial Retina Market Regional Analysis
North America and Europe are expected to dominate the overall artificial retina market throughout the forecast period (2016–2024). This is primarily attributed to robust healthcare infrastructure and high spending on healthcare R&D in these regions. The healthcare industry in North America is undergoing major transformation following the implementation of various healthcare reforms. Moreover, the region is home to over 10 million visually impaired population seeking effective treatment. Every year, 50 thousand people go blind in North America. Advancements in development of artificial retina is projected to create lucrative growth opportunities for market players in the region. Most of the countries in Europe and North America have healthcare spending of over 10% of overall GDP.
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