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Bionic Eye Market Analysis is expected to grow at a CAGR of 9.8% | Forecasting (2018-2023), Market Demand, Top companies, Current Industry Ratio

Press Release

Bionic Eye Market- Highlight

Bionic eye is a useful visual prosthetic that can restore the visual function of the patient suffering from complete or partial blindness. Market Research Future (MRFR) has published a research report about the global Bionic eye market that foretells surge with 9.8% CAGR (Compound Annual Growth Rate) for this market between 2017 and 2023. Analyzing the market structure, this report offers insights into factors affecting the market growth. Providing the historical and forecast revenue, it evaluates market size. Observing the key players in the market, this report covers and observes their competitive developments that include joint ventures, mergers and acquisitions, new product developments, research and developments (R & D), and strategic alliances.

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The key factors that drive the growth of this market include increasing complications of the eye due to aging, increasing the prevalence of diseases affecting eyesight, increasing number of people suffering from complete or partial blindness, increasing prevalence of ailments like diabetes, and technological development. The global bionic eye market has been segmented on the basis of end user, technology, type, and lastly, region. Based on the end user, the market has been segmented into clinics, hospitals, and other. The technology-based segmentation of the market segments the market into electronic and mechanical. By type, the market has been segmented into the external eye and implanted eye. External eye has been further segmented into the retinal prosthesis, and microsystem-based visual prosthesis (MIVP).

The regional segmentation of the global bionic eye market segments the market into the Americas (North America & South America), Europe, Asia Pacific, and the Middle East & Africa (MEA). Among all regional markets, the Americas dominate the global bionic eye market. Due to the availability of advanced medical facilities, and huge technological advancement in general, North America is a bigger market than South America. In North America, the market is being driven due to development in technology and increasing people suffering from eyesight problem due to increasing prevalence of diabetes. The most significant country-based markets in North America are the United States of America (USA) and Canada.

Europe is the second most significant market for the bionic eye, followed by the Asia Pacific. Due to the reasons same as the Americas, Western Europe is a bigger market than Eastern Europe. The cream of European market comprises of France, Germany, Italy, Spain, and the United Kingdom (UK). With the more healthcare facilities coming up in the Asia Pacific region, the market is being driven due to steady technological advancement. The most important country-based markets in this region include Australia, China, India, Japan, and South Korea, followed by the rest of the Asia Pacific region. The MEA region is a small market due to lack of awareness, lack of education, lack of technological development, poor healthcare, and healthcare not considered a priority by most governments. The most crucial markets in this region include Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE).

Bionic Eye Market-  Top Key Players

The key players in the global bionic eye market include Bionic Vision Australia (Australia), The Bionic Eye (UK), iBionics (Canada), Pixium Vision (France), Retina Implant AG (Germany), and Second Sight (USA).

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Latest Industry News

  • iBionics, an Ottawa-based startup company is working to improve the effectiveness of the vision-restoring With its Diamond Eye implant, it aims to help blind people recover a new level of visual clarity. 25 APR 2018
  • American scientists have managed to print a bionic eye using a 3D printer. Living eye detects light after being placed on the retinal photoreceptor neurons that convert visible light into a nerve 1 SEP 2018

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This post was originally published on The Market Plan