Artificial Retina Market Growing Rapidly Due To Rising Innovation By 2026
Artificial retina market is a major breakthrough in medical devices industry, wherein many
universities and leading medical devices companies are conducting research to offer vision to
over 285 million visually impaired population worldwide. These devices are mainly nanorod
carbon nanotube biomimetic films along with accessory devices such as transmitter and video
processing unit (VPU). As such progressive development towards artificial retina is expected to
create high ROI for engaged in early development of the product. A lot of players in the
artificial retina market are making major investments in R&D activities related to the same.
These devices are expected to cater to various visual impaired conditions ranging from age-
related macular degeneration (AMD) to retinispigmentosa (RP). As per independent estimates, in
2016, there were over 100,000 people suffering from RP in the U.S. Advent of this novel
technology could unlock the market opportunities for players. A major breakthrough in this
regard was in 2013, when the U.S. FDA approved Argus II Retinal Prosthesis System—the first
implanted device to treat population with RP. The market for such revolutionary products is
expected to be shaped by various regulatory norms worldwide.
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Artificial Retina Market Dynamics
Product innovation is a key artificial retina market trend. The ophthalmic industry has become
more competitive over the last few years. Established ophthalmic product categories have
become more mature, in turn offering low level of market opportunity for players. Most
companies are emphasizing on price level strategy in order to enhance their business presence