Artificial Eye Market Size Worth USD 478.46 Million by 2032 |Emergen Research

The global artificial eye market size was USD 237.5 million in 2022 and is expected to register a revenue CAGR of 7.3% during the forecast period, driven by factors such as increasing instances of vision impairment and a growing elderly population.

One of the primary drivers of market growth is the rising incidence of vision injuries worldwide. Vision impairment caused by various factors such as infectious diseases, workplace accidents, UV radiation exposure, and others has led to an increasing demand for artificial eyes or prosthetic eyes as replacements for damaged eyes. The World Health Organization (WHO) estimates that globally, around 13 million people suffer from work-related vision impairment, with approximately 3.5 million eye injuries occurring annually.

To Receive A PDF Sample Of The Report, Visit @https://www.emergenresearch.com/request-sample/2859

The growing geriatric population is another key contributor to the expansion of the artificial eye market. Age-related visual issues like macular degeneration, cataracts, and glaucoma are prevalent among the elderly, leading to vision loss. With the WHO projecting that one in six people worldwide will be aged 60 or over by 2030, the demand for artificial eyes is expected to rise significantly.

Recent advancements in regulatory approvals have also played a crucial role in driving market growth. For instance, Eyenuk, a company specializing in medical AI, received approval from the U.S. Food and Drug Administration (FDA) for an innovative technology capable of detecting symptoms of diabetic retinopathy by analyzing images of the back of the eye. Such developments in regulatory approval processes contribute to the expansion of the market by introducing new and improved products.

Market Restraints:

the high cost of artificial eyes remains a major challenge restraining market growth. Customized artificial eyes tailored to individual patients' needs come with a hefty price tag, posing a barrier to access for many potential patients. Addressing cost concerns through innovative technological methods and cost-effective production techniques will be critical to overcoming this restraint and fostering market growth.

In terms of material types, cryolite glass dominated the artificial eye market in 2022, accounting for the largest revenue share. Cryolite glass is preferred for crafting artificial eyes due to its lighter weight, which enhances patient comfort and satisfaction. On the other hand, hard plastic acrylic is expected to witness the highest revenue growth rate during the forecast period, driven by its lightweight, flexibility, and translucency, making it superior for production and installation purposes.

To Get A Discount On The Latest Report, Visit @https://www.emergenresearch.com/request-discount/2859

Artificial Eye Surgery Insights:

In terms of surgery, evisceration surgery held the largest revenue share in 2022, fueled by increasing prevalence of conditions such as trauma and vision infections. Enucleation surgery, on the other hand, is anticipated to register the fastest growth rate, driven by rising demand for addressing critical eye health issues such as intraocular tumors and severe infections.

Overall, the global artificial eye market is poised for significant expansion in the coming years, driven by factors such as rising vision injuries, aging population, and advancements in regulatory approvals. However, addressing the challenge of high costs and leveraging innovative technologies will be essential to unlock the full growth potential of the market.

Buy Now: @https://www.emergenresearch.com/select-license/2859

Artificial Eye Top Companies and Competitive Landscape
The artificial eye market is consolidated, with few key players accounting for the majority of market revenue. Major players are deploying various strategies, entering mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing new products and solutions.
• Advanced Artificial Eyes
• CosMedical Technologies, LLC
• Erickson's Eyes
• International Prosthetic Eye Center
• Marie Allen Ocularist Ltd
• The National Artificial Eye Servic
• Second Sight Inc
• Retina Implant AG
• Pixium Vision
• Bionic Vision Technologies
• Bionics Institute
• Preceyes B.V
• Optobionics
• Ocumetics Technology Corp
• Visioncare Optolab Pvt. Ltd
• i-Optik
• Vuzix
• Mojo Vision Inc
• SNG Labs
• Wicab, Inc

Artificial Eye Latest Industry Updates

On 11th Juen 2023, The United States Food and Drug Administration (FDA) approved synthetic tissue substitute developed by Israel based startup CorNeat Vision. This groundbreaking synthetic tissue substitute represents the world's inaugural non-degradable synthetic tissue for ophthalmic surgery. EverPatch was developed to supplant the utilization of donor tissue, mitigating the risk of disease transmission.

On 29th November 2021, Germany based applied research in visual computing company Fraunhofer technology developed several technologies that surpass the current method of manually producing individual prostheses. Fraunhofer's Cuttlefish Eye software employs a 3D scan of the eye socket along with a colour-calibrated image of the healthy eye to generate a 3D model of the prosthetic eye. The model is then printed using Fraunhofer's Cuttlefish 3D printing driver on a multicolour, multilateral 3D printer.

Browse Detailed Research Report @https://www.emergenresearch.com/industry-report/artificial-eye-market

Artificial Eye Market Segment Analysis

For the purpose of this report, Emergen Research has segmented artificial eye market on the basis of product type, material type, surgery, and region:
• Product Type Outlook (Revenue, USD Million; 2019-2032)
o Moulded
o Cosmetic shell
o Others

• Material Type Outlook (Revenue, USD Million; 2019-2032)
o Cryolite glass
o Hard Plastic acrylic
o Others

• Surgery Outlook (Revenue, USD Million; 2019-2032)
o Evisceration surgery
o Enucleation surgery
o Others

• Regional Outlook (Revenue, USD Million; 2019-2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. U.K.
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of MEA

Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Visit for More Insights: https://www.emergenresearch.com/insights

About Us:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

This release was published on openPR.