Retinal Implant Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
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Implant Market - Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast 2016 - 2024 provides information on pricing,
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About
Retinal
Implant Market
Retinal implants are biomedical
microchips designed to provide visual perception to people who have
lost vision owing to degenerative eye diseases such as retinitis
pigmentosa and age-related macular degeneration. These conditions
lead to slow degeneration of photoreceptor cells in the retina of
human eyes, leading to gradual loss of sight. However, some of the
inner retinal neurons capable of transmitting signals from
photoreceptors to the brain are preserved in most cases. Electrical
stimulation of these remaining retinal neurons with the help of
retinal implants, which are essentially microchips containing an
array of light-sensitive diodes capable of converting incident light
into electrical signals, can help reintroduce some vision to
patients.
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The report presents a detailed
overview of the present state of the global retinal implants market
and its crucial elements. It presents an analysis of the major
factors that will influence the growth dynamics of the market and
shape its future.
The data has been gathered with
the help of primary and secondary research methodologies, and
narrowed down with the help of industry-leading analytical methods. A
definitive account of the regulatory scenario governing market
decisions has also been included in the report, along with an
analysis of the expected impact of the regulatory scenario on the
market.
Retinal Implants Market: Present
Scenario
Retinal
implants were considered a medical impossibility until a few decades
ago, primarily owing to the highly complex design of the human eye.
However, some retinal implants have successfully cleared clinical
trials and are being regularly used in clinics in developed regions
such as Europe and North America.
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Retinal implants such as Alpha
IMS, developed by Germany-based Retina Implant AG, and Argus II,
developed by U.S.-based Second Sight Medical Products, have received
approval for large-scale marketing and are being successfully
implanted in patients with retinitis pigmentosa.
With
the rising number of successful outcomes
of retinal implants and advancement in technologies, the global
retinal implants market holds immense potential in helping patients
with RP and several other degenerative conditions regain their sight.
Increase in the geriatric
population and the consequent rise in the prevalence of degenerative
conditions, technological advancements, and growing disposable income
in developing countries will act as major drivers of the global
retinal implant market in the next few years.
Currently, retinal implants
available in the market fall into two categories: epiretinal
implants, which are fixed on the retina, and subretinal implants,
which are fitted behind the retina. Retinal implants that can be
fitted above the vascular choroid, called suprachoroidal implants,
are also in clinical trials.
Retinal Implants Market:
Challenges and Growth Opportunities
Biocompatibility and long-term
stability of the material used for devising retinal implants are the
major challenges in the global retinal implants market. These
technical challenges have induced manufacturers and researchers to
explore the use of new materials and combinations that will be most
suitable for human eyes. This factor acts as a major restraint of the
market as well as a major opportunity for medical device
manufacturers and researchers.
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Lack of medical reimbursement in
developing and underdeveloped countries is a key issue restraining
the global retinal implants market. In Germany, the Alpha IMS
microchip is reimbursed by the statutory health insurance system,
which insures 90% of the country’s population.
Complex surgery, difference in
people’s biological response to foreign objects being placed inside
their bodies, and high cost of procedures are the other major
challenges faced by the global retinal implants market. Owing to the
complex nature of implant surgeries, comprehensive training in the
technology and technique and appropriate selection of patients is
also a crucial factor governing the large-scale adoption of retinal
implants. Dearth of trained professionals in several regions is
limiting demand for retinal implants.
This research report analyzes this
market on the basis of its market segments, major geographies, and
current market trends. Geographies analyzed under this research
report include
North America
Asia Pacific
Europe
Middle East and Africa
Latin America
This report provides comprehensive
analysis of
Market growth drivers
Factors limiting market growth
Current market trends
Market structure
Market projections for
upcoming years
This report is a complete study of
current trends in the market, industry growth drivers, and
restraints. It provides market projections for the coming years. It
includes analysis of recent developments in technology, Porter’s
five force model analysis and detailed profiles of top industry
players. The report also includes a review of micro and macro factors
essential for the existing market players and new entrants along with
detailed value chain analysis.
Reasons for Buying this Report
This report provides pin-point
analysis for changing competitive dynamics
It provides a forward looking
perspective on different factors driving or restraining market growth
It provides a six-year
forecast assessed on the basis of how the market is predicted to grow
It helps in understanding the
key product segments and their future
It provides pin point analysis
of changing competition dynamics and keeps you ahead of competitors
It helps in making informed
business decisions by having complete insights of market and by
making in-depth analysis of market segments
It provides distinctive
graphics and exemplified SWOT analysis of major market segments
Note: Although care has been taken
to maintain the highest levels of accuracy in TMR’s reports, recent
market/vendor-specific changes may take time to reflect in the
analysis.
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