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Global Artificial Retina Market Expected to Reach $5.8784 Million by 2031
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Age-related macular degeneration (ARMD) stands out as one of the leading causes of blindness, particularly affecting individuals over the age of 60. According to the review article "Macular Degeneration" published by the National Library of Medicine in August 2022, ARMD accounts for 8.7% of all types of blindness worldwide. Additionally, the article highlights those 3.6 million individuals, or 18% of people over the age of 70, were visually impaired, as reported in Geriatric Ophthalmology in January 2021.
Artificial retina is a minimally invasive surgical device that is implanted in the layer of degenerated photoreceptor cells in patient with various degenerative retinal disease such as retinitis pigmentosa and age-related macular degeneration. Retinitis pigmentosa is an inherited eye disease which affects the light sensitive layer of cells in the back of the eye and cause breakdown of this layer slowly over the time, that further led to vision loss. The artificial retina system consists of carbon nanotube biomimetic film, protective eyeglasses with a camera, digital projector, and portable processor. The wireless implant collects sigarels from the small camera located on the protective eyeglasses and sends the signal to portable processor and the image is created by digital projector. There are different types of artificial retina used in vision impairment conditions: epiretinal implant, subretinal implant, and others.
The demand for artificial retina devices, such as epiretinal implants, subretinal implants, and others, has been on the rise to address the growing prevalence of eye diseases. This surge in demand has attracted several key market players, including Nidek Co., Ltd., Optobionics, Altris, Inc., Vivani Medical Inc., Second Sight, Bionic Vision Australia, Intelligent Medical Implants, LambdaVision, Inc., Aetna Inc., Bionic Vision Technologies, Pixium Vision, Medtronic, Retina Implant AG, Axorus, Nano Retina, Labtician Ophthalmics, Inc., and more.
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As the global population ages and the prevalence of eye diseases continues to rise, the artificial retina market is poised for significant expansion in the coming years. With ongoing research and development efforts and collaborations among industry stakeholders, the future of artificial retina technology looks promising.
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