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Artificial Retina Market by Types of Retinal Implant by Disease, End User, Geography– Global Market Development, Growth and Demand
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The device is made up of carbon nanotube biomimetic film with accessories such as a transmitter and a video processing unit. The global artificial retina market witnessed its first major breakthrough in 2013 with the approval of Argus II Retinal Prosthesis System, by the U.S. Food and Drug Administration (USFDA). It is a first implant device used to treat patients with RP. Various conditions such as age-related macular degeneration (AMD) and RP, which influence many individuals around the world, destroy the photodetector cells in the retina and make vision worsen over time.
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North America is expected to lead the global artificial retina market throughout the forecast period, followed by Europe. This is mainly due to strong healthcare infrastructure and high expenditure in 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.
Asia-Pacific is expected to emerge as the next big market for industry players. The region is home to over 55% of the global visually impaired population. The rate of RP is highest in Asia-Pacific compared to other regions. Economic development and increasing government support in countries such as India are projected to boost the growth of the Asia-Pacific market.
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Some of the key players operating in the artificial retina industry include Nano Retina, Second Sight Medical Products, Inc., Optobionics, Aetna Inc., Pixium Vision, Retina Implant AG and Bionic Vision Technologies Pty Ltd.
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Retina Implant AG (Germany)
Pixium Vision (France)
Bionic Vision Australia
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Global Artificial Retina Market - Segments
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