Rockville, April 12, 2023 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global bionic eye market is valued at US$ 297.1 million in 2023 and is predicted to expand rapidly at a CAGR of 13% from 2023 to 2033.
Bionic eyes, also known as artificial eyes or visual prostheses, are advanced medical devices that have revolutionized the field of ophthalmology. These devices are designed to provide vision to individuals who have lost them due to various eye-related disorders. The global bionic eye market is growing rapidly due to the increasing prevalence of eye-related disorders and technological advancements in the field.
- According to the World Health Organization, approximately 2.2 billion people worldwide suffer from some sort of vision impairment, with around 1 billion cases that could have been prevented.
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Key Takeaways from Market Study
- The global bionic eye market is expected to reach US$ 1 billion by 2033.
- The presence of well-established healthcare facilities and key market players is driving the sales of bionic eye solutions in the United States.
- The older population in Germany is the leading factor driving demand for bionic eyes in the country.
- Australia is booming in the field of bionic eyes due to the presence of advanced medical technologies and researchers.
“Rapidly increasing older population (who are more prone to getting infected with eye diseases) and rising prevalence of diabetic retinopathy are driving the demand for bionic eye technologies,” says a Fact.MR analyst.
Key Segments of Bionic Eye Industry Research
- By Eye Type :
- External
- Implanted
- By Technology :
- Electronic
- Mechanical
- By End User :
- Hospitals
- Ophthalmic Clinics
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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| Report Attributes | Details |
| Bionic Eye Market Size (2023E) | US$ 297.1 Million |
| Forecasted Market Value (2033F) | US$ 1 Billion |
| Global Market Growth Rate (2023 to 2033) | 13% CAGR |
| Leading Regional Market | North America |
| No. of Pages | 170 Pages |
| No. of Tables | 84 Tables |
| No. of Figures | 112 Figures |
Competitive Analysis
According to Fact.MR, a market research and competitive intelligence provider, key players in the bionic eye market are using various marketing tactics such as acquisitions to broaden their portfolio range and to expand internationally, more investments in R&D to launch innovative products & to gain a major position in the worldwide market.
Innovations in the field of bionics have led to the development of advanced visual prostheses that provide better vision and are more comfortable to use. Key players in the bionic eye market are investing heavily in R&D activities to provide bionic eye solutions at affordable rates.
- Argus II Retinal Prosthesis System, developed by Second Sight Medical Products, Inc., is a wireless implantable device that provides electrical stimulation to the retina, allowing patients to perceive light patterns and images.
Key Companies Profiled
- Nano Retina Ltd.
- Monash Vision Group
- Second Sight Medical Products
- Pixium Vision
- Nidek Co. Ltd.
- MetaModal LLC
- Bionic Vision Technologies
- Biomedical Technologies S.L.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global bionic eye market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on eye type (external, implanted), technology (electronic, mechanical), and end user (hospitals, ophthalmic clinics), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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