2-July-2019: The global retinal implant
market size is expected to reach USD 74.7 million by
2026, according to a new report by Grand View Research, Inc. It is projected to
expand at a CAGR of 10.6% over the forecast period. Increasing prevalence of
target diseases, and rising geriatric population are the key driving factors
for the market. Rising capability of restoring vision is anticipated to bode
well for demand over the forecast period.
Laser therapy and
Photodynamic Therapy (PTD) and some of the conventional treatments available
for Retinitis Pigmentosa (RP) and Age-Related Macular Degeneration (AMD). Drugs
such as Lucentis, Macugen, Eylea, and Vitamin A are a part of therapeutic
treatment. Such treatments aid in reducing disease progression and thereby,
delaying blindness. However, none of these treatments can completely cure the
disease and restore vision. As a result, treatment procedures that restore
vision are highly in demand.
Currently approved
devices are capable of restoring vision with the help of electrodes, camera
chips, lenses, software, and other tools. Moreover, implantable miniature
telescope, Argus II is easy to use and enables patients to carry out their
daily activities with ease. Furthermore, these devices can be used for a
prolonged period of time, eliminating the need for another surgery. Therefore,
the capability of advanced implantable devices to restore vision is expected to
propel the market growth in near future.
Increasing
geriatric population and rising disposable income in developing economies such
as Japan, China, and India are also expected to boost the retinal implant
market over the forecast period. Moreover, increasing healthcare expenditure by
governments and private sectors and initiatives by major market players to
operate in untapped regions are also anticipated to propel the growth in the
forthcoming years.
In
depth research report on Retinal Implant Market:
Further key findings from the study suggest:
·
In terms of revenue, implantable miniature telescope segment
is projected to expand at the highest CAGR over the forecast period. Increasing
prevalence of AMD among geriatric population and usage of implantable devices
to treat vision problems might drive the segment’s growth over the forecast
period
·
In 2026, Asia-Pacific market is expected to witness the
fastest CAGR over the forecast period owing to increasing geriatric population
and disposable income
·
VisionCare, Inc.; Retina Implant AG; and Second Sight Medical
Products, Inc. are expected to dominate the retinal implant market over the
forecast period.
Grand View Research
has segmented the global retinal implant market on the basis of device type and
region:
Retinal Implant Device Type Outlook (Revenue USD Million;
2014 - 2026)
·
Retina Implant Alpha AMS
·
Implantable Miniature Telescope
·
Argus II
·
Others
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports,
please visit: http://www.grandviewresearch.com/
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