Retinal Implants Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 11.00 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Retinal Implants Market Analysis
The retinal implants market is believed to witness rapid growth which is majorly attributed to the growing burden of eye diseases across the globe and the technological advancements in the implants.
Retinal implants are the devices that are used to supplant phototransduction within the eyes of individuals who are suffering from vision loss. Retinal prostheses have undergone significant advances in the past few years. This has resulted in the development of several novel surgical approaches.
The use of technologies such as enhanced image processing algorithms and data transfer approaches along with the emerging nanofabrication and conductive polymerization techniques are thus propelling the demand for the retinal implants in developed nations of North America and Europe.
Added to that, there are various projects conducted for the development of retinal implants which represent the involvement of government organizations in retinal implants development. For instance, in Boston MA, the Boston Retinal Implant which is a subretinal retinal prosthesis was developed by the Boston Retinal Implant Project. Also, companies such as Pixium Vision are providing technologically advanced retinal implants which is giving a new direction to the technology used for these devices.
Retinal Implants Market Trends
This section covers the major market trends shaping the Retinal Implants Market according to our research experts:
Argus II Retinal Prosthesis System is Expected to Witness Healthy CAGR Over the Forecast Period
Argus II Retinal Prosthesis System is developed by the company named Second Sight Medical Products. This is an Epiretinal implant which got CE Mark in 2011 and FDA approval in 2013 as a humanitarian device for patients with retinitis pigmentosa (RP). Retinitis pigmentosa is one of the most common diseases that occur in the retina. National Institute of Health has stated that 1 in 3,500 to 1 in 4,000 people in the United States and Europe are affected by this disease. As the disease is hereditary, treatment for the same is difficult which has led to the development of prostheses for vision correction.
The company Second Sight Medical Products is focusing on the further development of Argus II in which the need for additional surgery will be removed and the hardware-software in the device will be improved. The device is manufactured with a decade of focused R&D efforts and the clinical trials for the same has given positive results in the patients. Therefore, it is expected that Argus II will be witnessing healthy growth over the forecast period.
North America is Expected to Dominate the Retinal Implants Market
North America is expected to generate the highest revenue in the global retinal implant market over the forecast period. High prevalence of degenerative conditions and technological advancements may drive growth of the North America retinal implants market over the forecast period.
Retinal implants are manufactured by few companies currently and only four types of implants have been approved by the US FDA. Among the companies that are in this market, most of them are based in the North America region. For instance, Second Sight Medical Products, Inc., VisionCare, Inc. Due to the adoption of advanced technologies in the United States and the presence of key players in the market, it is expected that this region will witness high growth in the forecast period. Added to that, the favourable reimbursement facility for the retinal implant is acting as a driver for the growth of this market in this region.
Retinal Implants Industry Overview
The market for retinal implants is highly consolidated with the presence of very few players in the market. In terms of market share, all these companies are having considerable share depending upon the geography they operate in and the products they have. Majorly, companies in this market are active in developed economies such as North America and Europe and are based out of these two regions only. With the rising healthcare technologies and focused R&D in the medical devices, it is believed that few companies will penetrate the market and grab substantial share in the future.
Retinal Implants Market Leaders
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Pixium Vision
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Second Sight Medical Products Inc.
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VisionCare, Inc.
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Nano Retina
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Labtician Ophthalmics, Inc.
*Disclaimer: Major Players sorted in no particular order
Retinal Implants Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.2.1 Growing Burden of Eye Diseases Across the Globe
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4.2.2 Rising Technological Advancements and Adoption of the Same
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4.3 Market Restraints
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4.3.1 High Cost of the Implants
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4.4 Porter's Five Force Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers/Consumers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Type of Implant
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5.1.1 Argus II
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5.1.2 Retina Implant Alpha-IMS
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5.1.3 Implantable Miniature Telescope (IMT)
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5.1.4 Others
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5.2 Geography
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5.2.1 North America
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5.2.1.1 United States
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5.2.1.2 Canada
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5.2.1.3 Mexico
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5.2.2 Europe
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5.2.2.1 Germany
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5.2.2.2 United Kingdom
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5.2.2.3 France
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5.2.2.4 Italy
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5.2.2.5 Spain
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5.2.2.6 Rest of Europe
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5.2.3 Asia Pacific
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5.2.3.1 China
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5.2.3.2 Japan
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5.2.3.3 India
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5.2.3.4 Australia
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5.2.3.5 South Korea
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5.2.3.6 Rest of Asia-Pacific
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5.2.4 Middle East and Africa
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5.2.4.1 GCC
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5.2.4.2 South Africa
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5.2.4.3 Rest of Middle East and Africa
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5.2.5 South America
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5.2.5.1 Brazil
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5.2.5.2 Argentina
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5.2.5.3 Rest of South America
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 Second Sight Medical Products, Inc.
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6.1.2 VisionCare, Inc.
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6.1.3 Pixium Vision
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6.1.4 Nano Retina
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6.1.5 Labtician Ophthalmics, Inc.
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Retinal Implants Industry Segmentation
As per the scope of the report, retinal implants are the devices that are used to restore useful vision to people who are suffering from vision loss. These are the implantable devices designed to supplant phototransduction within the eyes of people who lost vision.
| By Type of Implant | |
| Argus II | |
| Retina Implant Alpha-IMS | |
| Implantable Miniature Telescope (IMT) | |
| Others |
| Geography | ||||||||
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Retinal Implants Market Research FAQs
What is the current Retinal Implants Market size?
The Retinal Implants Market is projected to register a CAGR of 11% during the forecast period (2024-2029)
Who are the key players in Retinal Implants Market?
Pixium Vision, Second Sight Medical Products Inc., VisionCare, Inc., Nano Retina and Labtician Ophthalmics, Inc. are the major companies operating in the Retinal Implants Market.
Which is the fastest growing region in Retinal Implants Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Retinal Implants Market?
In 2024, the North America accounts for the largest market share in Retinal Implants Market.
What years does this Retinal Implants Market cover?
The report covers the Retinal Implants Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Retinal Implants Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Retinal Implants Industry Report
Statistics for the 2024 Retinal Implants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Retinal Implants analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
