The global demand for Bionic Eye Market is presumed to reach the valuation of nearly USD XX MN by 2027 from USD XX MN in 2020 with a CAGR of XX% under the study period of 2020 - 2027.
A bionic eye is an artificial eye that provides visual sensations to the brain. It consists of electronic systems having image sensors, microprocessors, receivers, radio transmitters, and retinal chips. It consists of a computer chip placed behind the affected person's eye and connected with a micro video camera built into glasses that they wear. The bionic eye's objective is to restore the visual signal to whom suffering from eye disease. The bionic eye works similar to the human eye as it gets images from the camera incorporated with the glass that a blind person wears.
The global bionic eye market is currently at its nascent stage. A rising aging population and the increasing burden of an individual’s vision impairment and blindness drive the global bionic eye market. According to the World Health Organization (WHO), at least 1 billion individuals worldwide have a near or distance vision impairment. Out of which the majority of people are over the age of 50 years. The available bionic eye system does not restore full vision, not entirely perfect or clear. Scientists are testing devices with even more electrodes so that they can generate clear images. Despite being a massive potential of technology, cost and risk pose a considerable challenge for market growth. For a pair of eyes, it would cost around $30,000, which is not a convincing amount for the affected person. An artificial substitute for a human eye is a risky task as it may cause death, or some severe situations may occur.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each segment in the global market of bionic eye.
This section of the bionic eye market report provides detailed data on the segments by analyzing them geographically, thereby assisting the strategist in identifying the target demographics for the respective product or service.
- External Eye
- Implanted Eye
- Ophthalmic Clinics
This section covers regional segmentation which accentuates on current and future demand for bionic eye market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Bionic Eye Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the bionic eye market include Bionic Vision Technologies, Second Sight Medical Products LLC, Nidek Co. Ltd., Nano Retina Ltd., MetaModal LLC, Biomedical Technologies S.L., Pixium Vision, Monash Vision GroupS. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.