Global Bionic Eye Market Report, published by Variant Market Research, forecast that the global market is expected to reach $36.9 Billion by 2025 from $17.8 Billion in 2017, growing at a CAGR of 9.6% from 2017 to 2025. By Geography, Asia-Pacific and RoW are expected to grow at a CAGR of 10.7% and 9.9%, respectively, throughout the forecast period.
"Bionic Eye Market (By Material Method of Fixation: External Eye and Implanted Eye; By Technology: Electronic and Mechanical; By End User: Hospitals, Clinics and Other End Users. By Geography: North America, Europe, Asia-Pacific and Row) Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 – 2025"
The global bionic eye market is mainly driven by growing age-related disorders
The factor propelling the growth of the bionic eye market are rising adoption of organ transplantation, technological advancements, and growing age-related disorders. Additionally, rising number of people suffering from partial or complete blindness have also stimulated the market growth. However, limited surgical professionals, high price of equipment are the restraints of the market. Moreover, alternative therapies such as laser therapy, anti-angiogenic drugs, photodynamic Laser Therapy (PTD), and retinitis pigmentosa would provide lucrative opportunities to the market during the forecast period.
Method of fixation, technology, end user, and geography are the bifurcations of the global bionic eye market. by method of fixation, the market is classified into as external eye and implanted eye. External eye is sub segmented into retinal prosthesis and microsystem-based visual prosthesis (MIVP). Technology segment comprises electronic and mechanical. On the basis of end user, the segment includes into hospitals, clinics and other end users.
The country wise analysis has been also covered under the scope of the report. North America covers the U.S., Canada, and Mexico. Germany, France, UK, and Rest of Europe are analyzed under the European market. India, China, Japan, and Rest of Asia-Pacific are included under the Asia-Pacific market. While RoW is bifurcated into South America, Middle East, and Africa.
Implanted eye, by method of fixation segment led the market with major share in 2017
Implanted eye contributed for the majority of the share in 2017, in the method of fixationsegment, and is expected to continue itstrend during the forecast period. In terms of growth. The reason being, it is less bulky, and less invasive.
North America accounted for the maximum share in the global bionic eye market
In 2017, North America was the highest revenue generating region of the global market share. Also, North Americais likely to achieve the fastest CAGR during the forecast period, owing to increasing demand of healthcare technologies.
Prominent players operating in the market include Retina Implant AG, Bionic Vision Australia, THE BIONIC EYE, Pixium Vision, iBionics, Second Sight Medical Products, Inc., NeoStrata Company, Inc., ABIOMED, Berlin Heart, and Zimmer Biomet, among others.