Bionic Eye Market Research Objective by Global Players as Retina Implant AG, Second Sight, Bionic Vision Australia, The Bionic Eye, Pixium Vision, iBionics
Bionic Eye Market – Overview
Bionic eyes have revolutionized the vision impairment ailment in such a manner that has created immense scope for treating vision related defects.
Market Research Future which researches and publishes report linked to the healthcare sector along with published reports on other sectors, recently issued a report with findings of this particular industry. The market for bionic eye industry is expanding with a CAGR of 9.8 percent during the forecast period.
The use of bionic eye has increased significantly in the past few years, due to increased consumer preference for the industry. The rate of eye related disorders and ailments have been on the rise in the recent year which have necessitated the use of bionic eyes, thereby boosting market growth.
Better qualities of bionic eyes have been key to facilitating the market growth of the sector in the forecast period. Easy availability of raw materials have ensured creation of a superior quality product, which has increased the demand and acceptance rate of bionic eyes over prosthetic.
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Leading Key Players
Bionic Vision Australia (Australia)
The Bionic Eye (UK)
Pixium Vision (France)
Retina Implant AG (Germany)
Second Sight (USA)
Bionic Eye Market – Segment Analysis
The bionic eye industry is segmented on the basis of type, technology and end user. The type category is divided into implanted eye and external eye. The External eye segment is additionally sub segmented into microsystem-based visual prosthesis (MIVP) and retinal prosthesis.
On the basis of technology, the segment includes electronic and mechanical. Finally on the basis of end user the end users are segmented into clinics, hospitals and others. The regions included in the regional segmentation of the market are Europe, Asia Pacific, Latin America, North America and the Middle East & Africa.
Growth and Analysis
The key factors that drive the growth of this market include increasing complications of the eye due to aging, increasing the prevalence of diseases affecting eyesight, increasing number of people suffering from complete or partial blindness, increasing prevalence of ailments like diabetes, and technological development.
The global bionic eye market has been segmented on the basis of end user, technology, type, and lastly, region. Based on the end user, the market has been segmented into clinics, hospitals, and other. The technology-based segmentation of the market segments the market into electronic and mechanical. By type, the market has been segmented into the external eye and implanted eye.
External eye has been further segmented into the retinal prosthesis, and microsystem-based visual prosthesis (MIVP).
Bionic Eye Market – Regional Analysis
The regional segmentation of the global bionic eye market segments the market into the Americas (North America & South America), Europe, Asia Pacific, and the Middle East & Africa (MEA). Among all regional markets, the Americas dominate the global bionic eye market. Due to the availability of advanced medical facilities, and huge technological advancement in general, North America is a bigger market than South America.
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In North America, the market is being driven due to development in technology and increasing people suffering from eyesight problem due to increasing prevalence of diabetes. The most significant country-based markets in North America are the United States of America (USA) and Canada.
Europe is the second most significant market for the bionic eye, followed by the Asia Pacific. Due to the reasons same as the Americas, Western Europe is a bigger market than Eastern Europe. The cream of European market comprises of France, Germany, Italy, Spain, and the United Kingdom (UK).
With the more healthcare facilities coming up in the Asia Pacific region, the market is being driven due to steady technological advancement. The most important country-based markets in this region include Australia, China, India, Japan, and South Korea, followed by the rest of the Asia Pacific region.
The MEA region is a small market due to lack of awareness, lack of education, lack of technological development, poor healthcare, and healthcare not considered a priority by most governments. The most crucial markets in this region include Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE).
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