Market Overview:

The global bionic eye market reached a value of US$ XX Million in 2021. Looking forward, IMARC Group expects the market to grow at a CAGR of XX% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

The bionic eye is a visual prosthetic device used for restoring vision in a defective eye with complete or partial blindness. It consists of a camera and microelectrodes that are surgically placed in or near the eye and is connected to the optic nerve to transmit impulses to the brain. The bionic eye converts the light into a high-contrast representation, a portion of which is transmitted for further processing. Electrical stimulation through the surviving optic nerves enables the individual to perceive small spots of light or phosphenes, which are converted to images, thereby enabling the individual to see.

Bionic Eye Market Trends:

The increasing prevalence of macular degeneration and other eye-related disorders across the globe is one of the key factors driving the growth of the market. The eyesight is further aggravated in patients suffering from conditions, such as diabetes, cardiovascular disorders (CVDs) and obesity, thereby positively impacting the demand for bionic eyes. Moreover, rising awareness among the masses regarding the available treatment alternatives for complete or partial blindness is providing a thrust to the market growth. Various healthcare institutions are also conducting extensive research and development (R&D) activities to improving the efficiency of bionic eyes and reducing the cost of production for mass utilization. Additionally, the development of infrared (IR) and battery-powered bionic eyes is also contributing to the market growth. Other factors, including rising geriatric population, which is more susceptible to chronic eye-related ailments, along with significant improvements in the healthcare infrastructure, are anticipated to drive the market toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global bionic eye market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, technology and end user.

Breakup by Type:

• External Eye
• Implanted Eye
   

Breakup by Technology:

• Electronic
• Mechanical
   

Breakup by End User:

• Hospitals
• Ophthalmic Clinics
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being AAV Media LLC, Bionic Vision Technologies, iBIONICS, Monash Vision Group, NIDEK Co. Ltd., Pixium Vision and Second Sight Medical Products Inc.

Report Coverage:

Key Questions Answered in This Report:

• How has the global bionic eye market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global bionic eye market?
• What are the key regional markets?
• What is the breakup of the market based on the type?
• What is the breakup of the market based on the technology?
• What is the breakup of the market based on the end user?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global bionic eye market and who are the key players?
• What is the degree of competition in the industry?