According to the latest report by IMARC Group, titled “Bionic Eye Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global bionic eye market size reached US$ 267.1 Million in 2022. A bionic eye, also known as a retinal prosthesis or artificial vision device, is a cutting-edge technology that aims to restore vision in individuals who are blind or visually impaired. It consists of an external camera, a processor, and an implanted retinal implant. It encompasses various aspects, including image acquisition, processing, and transmission. It is a highly innovative and interdisciplinary field that combines engineering, medicine, and neuroscience. It provides a sense of vision to people who have lost their sight due to conditions, such as retinitis pigmentosa or age-related macular degeneration. It also offers individuals with visual impairments a greater level of independence and the opportunity to participate more fully in society.
Global Bionic Eye Market Trends:
At present, the increasing prevalence of visual impairments and blindness worldwide, resulting due to rising aging populations and chronic diseases, represents one of the crucial factors impelling the growth of the market. Besides this, rising advancements in technology, especially in the fields of robotics, bioengineering, and artificial intelligence (AI), are contributing to the growth of the market. In addition, the growing demand for advanced vision restoration solutions offering improved vision capabilities and enhanced quality of life for visually impaired individuals is offering a favorable market outlook. Apart from this, increasing investments in research and development (R&D) activities by government organizations, private companies, and academic institutions to overcome existing challenges, such as device miniaturization, power consumption, and biocompatibility and make bionic eyes more accessible, affordable, and widely accepted is supporting the growth of the market. Looking forward, the market value is projected to reach US$ 544.5 Million by 2028, expanding at a CAGR of 12.88% during 2023-2028.
- Based on the type, external eye represents the largest segment, followed by the implanted eye.
- On the basis of the technology, the market has been bifurcated into electronic and mechanical. Currently, electronics dominate the market, holding the largest share.
- Based on the end user, the market has been segregated into hospitals, ophthalmic clinics, and others. At present, hospitals represent the largest share in the market.
- Region-wise, the market has been segmented into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, North America enjoys the leading position in the market.
- The competitive landscape of the market has also been examined, with some of the key players being AAV Media LLC, Bionic Vision Technologies, iBIONICS, Monash Vision Group, NIDEK Co. Ltd., Pixium Vision, Second Sight Medical Products Inc., etc.
|Base Year of the Analysis
|Scope of the Report
||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- End User
||External Eye, Implanted Eye
|End Users Covered
||Hospitals, Ophthalmic Clinics, Others
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||AAV Media LLC, Bionic Vision Technologies, iBIONICS, Monash Vision Group, NIDEK Co. Ltd., Pixium Vision and Second Sight Medical Products Inc.
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
134 N 4th St.
Brooklyn, NY 11249, USA
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800