Artificial Eye Market Scope
Artificial Eye is a manufactured eye that is made of glass, plastic, or other material. Artificial Eye is usually hemispherical or cup-shaped, worn cosmetically over a blind eye or in the socket of a lost eye which is attached to muscles to provide movement for the eye. Geographically, North America dominates the artificial eye market due to a rise in product innovations, an increase in the presence of leading players, a rise in the favourable reimbursement policies and high adoption of artificial eye surgeries in this region. Artificial Eye market has several positive factors which is triggering the growth of the market over the forecast period
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Erickson Laboratories (Sweden), Integrated Orbital Implants (United States), Ocular Prosthetics (United States), SECOND SIGH (United States), BioSpace (United States), Factor2 (United States), WebMD LLC (United States), Medical Research Foundation (India), Northwest eye design (United States), AEDI (United States), Midwest Eye Laboratories (United States), National Artificial Eye Service (United States), Curzon Group (United Kingdom) and Others |
CAGR | % |
The market is expected to grow market in the medical and cosmetics industry. It has wide application for visual prosthetic systems is driving the demand for the market. Several companies are operating in the market to provide customers with better offers with various features & unique offerings. The market is a partially fragmented market with the presence of several market players and local players. Which is triggering the market growth over the forecast period
Erickson Laboratories (Sweden), Integrated Orbital Implants (United States), Ocular Prosthetics (United States), SECOND SIGH (United States), BioSpace (United States), Factor2 (United States), WebMD LLC (United States), Medical Research Foundation (India), Northwest eye design (United States), AEDI (United States), Midwest Eye Laboratories (United States), National Artificial Eye Service (United States), Curzon Group (United Kingdom) and Others are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Artificial Eye market by Type , by Application (Hospital, Exhibition, Others and Player) and Region with country level break-up.
On the basis of geography, the market of Artificial Eye has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
On 23 December 2019 Curzon group has acquired US indie distributor and exhibitor Cohen Media Group
In July 2022, Second Sigh Medical Product Inc, developers in implantable visual prostheses and create artificial form of useful vision for blind people received notice from National Institute of Health, four-year funding for its early feasibility clinical trial of visual cortical prosthesis.
Influencing Trend:
Rising demand for the bionic eye than prosthetic eyes and Artificial intelligence (AI) is a trending technology for screening, diagnosing, and helping treat eye conditions
Market Growth Drivers:
Rapid development in technology such as laser surgery and Huge demand for the cosmetic appearance
Challenges:
It is not feasible for low power retina patient
Restraints:
High cost of treatment
Opportunities:
Huge demand for Bionic Eye disruptive technologies which work on existing eye structures or in the brain
Key Target Audience
Individual, Supplier, Regulatory Authorities, New Entrants/Investors, Strategic Business Planners, Governments and End-Use Industry