"Retinal
Implant Market - Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast 2016 - 2024"
The Report covers current Industries Trends, Worldwide Analysis,
Global Forecast, Review, Share, Size, Growth, Effect.
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Description-
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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.
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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.
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.
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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.
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
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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.
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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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