Global artificial retina market accounted to $XX billion in 2021 to an estimated value of $XX billion in 2029, growing at a CAGR of xx% during the forecast period of 2022 to 2029.
The Artificial Retina market is expected to expand during the forecast period due to:
During the projected period between 2022 and 2029, the artificial retina market is estimated to grow at a CAGR of XX%.
The artificial retina is a type of minimally invasive device which is used to treat vision problems such as age-related macular degeneration and retinitis pigmentosa. The artificial retina which is implanted into the eye collects signals from the small camera located on the eyeglasses and wirelessly sends the signals to the microchip to create an image that the patient can see obviously.
The rapid increase in the prevalence of visually impaired patients combined with government expenditure on health care is among the significant factors fueling the growth and demand of the artificial retina market. In addition, the rapid technological advancements and high investment in R&D by key players, and increase in the geriatric population are also contributing to the growth in the global market over the forecast period.
Moreover, the rising cases of retinitis pigmentosa as well as the increasing healthcare expenditure and increase in the number of ophthalmic hospitals and clinics are also lifting the growth of the market. Furthermore, the increasing capita disposable income is also one of the significant factors flourishing the growth of the artificial retina market.