According to a new report published by Allied Market Research, titled, โ€œArtificial Retina Market: Global Opportunity Analysis and Industry Forecast, 2020-2027” Artificial retina refers to a minimally invasive surgical device that is implemented in the treatment of vision-related problems including age-related macular degeneration (ARMD) and retinitis pigmentosa. Retinitis pigmentosa (RP) being an inherited eye disease, causes gradual degeneration of rod photoreceptor cells found in retina and may result in severe impairment of vision. Artificial retina devices are small devices comprising of an array of microelectrodes. This artificial device is implanted in the eyes of patients suffering with blindness owing to retinal diseases. After implanting the device, the small camera placed on the eyeglasses sends signals to eyes, and wirelessly sends signals to microprocessor as well to procure an image that helps the patient to see clearly. The purpose of implanting artificial retina in the eyes is to restore the restricted vision that allows people to read during mobility, improve the vision and aid in recognizing individuals. The device is composed of carbon nanotube biomimetic film and hosts accessories including transmitter and video processing unit.

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COVID-19 Scenario Analysis

  • The COVID-19 pandemic has emerged as a humanitarian as well as economic crisis, creating strain on the society and affecting millions of people and businesses.
  • Industry closures and people are asked to stay in their homes which has cause taken a huge toll in terms of money and economic growth.
  • Over 4 million people affected globally, with 300 thousand losing their lives due to SARS-CoV-2
  • Healthcare organizations are already working in battle mode, preparing new plans to respond growing COVID-19 patients, right from sourcing rapid diagnosing kits to sufficient PPE kits for workers.
  • Due to diversion of medical field towards treating COVID-19, the funding to R&D activities related toartificial retina has been reduced and this segment have to face negligence subsequently causing negative impact on artificial retina market.

The growing geriatric population coupled with increase in vision-related problems and increasing prevalence of retinitis pigmentosa disorders are the key factors driving the market growth. The National Eye Institute (NEI) statistics highlight that around 1 in every 4,000 individuals are suffering due to retinitis pigmentosa around the world. Increase incidences of people with numerous visually impaired patients along with rise in government expenditure on healthcare sector, strategic acquisitions and partnership agreements among major market players for deep product penetration and technology transfer, heavy investment in R&D activities by major firms, and rise in research in the disciple of ophthalmology are the other aspects that would fuel the market growth of artificial retina in coming years. Collaborations between major firms in retinal medical devices and governments has facilitated in the commencement of Artificial Retina Project by Department of Energy. This has shown promising results in developing innovative solutions to tackle vision-related disorders and would comfort many visually impaired individuals. Furthermore, innovative product launches and technological advancements would also contribute to the market development in near future.

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The key players profiled in this report include Second Sight, Nano Retina, Optobionics, Retina Implant AG, Bionic Vision Australia, Pixium Vision, Intelligent Medical implants, Nidek Co. Ltd., and Aetna Inc.

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  • This study presents the analytical depiction of the global artificial retina market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global artificial retina market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global artificial retina market growth scenario.
  • Porterโ€™s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global artificial retina market analysis based on competitive intensity and how the competition will take shape in coming years.

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๐Ž๐ญ๐ก๐ž๐ซ ๐“๐ซ๐ž๐ง๐๐ข๐ง๐  ๐‘๐ž๐ฉ๐จ๐ซ๐ญ๐ฌ:

North America and Europe Menstrual Cup Market:

Surgical Robotic System Market:

Surgical Drains Market:

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of โ€œMarket Research Reportsโ€ and โ€œBusiness Intelligence Solutions.โ€ AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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