Artificial Retina Market Growth Probability, Key Vendors and Future Scenario Up To 2024

Artificial retina market has given hope to more than 285 million people with visual impairment and approximately 40 million with that are completely blind across globe. Retinal degeneration is the major reason behind the growth of the global artificial retina market. Artificial retina manufacturers to develop new and innovative products carry out further research and development activities. Manufacturers are collaborating with hospitals to provide services and products that will expand growth in the global artificial retina market. Some of the leading players in the global artificial retina market include Aetna Inc., Nano-Retina, PIXIUM VISION, Second Sight, and Optobionics.

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Moreover, increasing investments from government in developing healthcare facilities in different regions is also fueling growth in the global artificial retina market. Few players in North America are collaborating with the U.S. government has helped in the initiation of Department of Energy’s Artificial Retina Project. Large number of geriatric population that is susceptible to get problem with their vision through aging is also accelerating growth in the global artificial retina market. Increase in research in the field of ophthalmology is further augmenting growth in this market.

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Technological Developments in Healthcare Makes North America Lead Artificial Retina Market

North America is likely to hold dominant share in the global artificial retina market due to the technological developments taking place in healthcare. Well-established healthcare infrastructure and huge spending on research and development activities in the field of health care by the government have further fueled growth in the global artificial retina market. Europe is also expected to hold substantial share in the global artificial retina market. improved per capita spending and awareness about the benefits of medical technology has grown demand for artificial retina at a large scale. Developing economies are also showing huge interest and are accepting artificial retina at a high rate. Based on a study, there are about 55% visually impaired patients in Asia Pacific, which makes it lucrative regional market for growing sale of artificial retina.

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