Bionic Eye Market reaching nearly USD 477.55 Million at a CAGR of 12.7% through 2022 to 2027

Bionic Eye Market Overview:

According to a new report published by Maximize Market Research titled Bionic Eye Market by Intelligent Virtual Assistant, End User, Distribution Channel, Price, and Geography: Industry Analysis and Forecast (2021-2027).

Research assists decision makers in devising strategies and plans for their regions by analysing trends in the market, the industry environment, dominant characteristics of the market, and their short- and long-term ramifications.

The research analyzes the impact of COVID-19 lock-down on the income of industry leaders, followers, and disruptors. The impact varies by region and segment because lockdown was implemented differently in different locations and countries. The current short and long term market impact has been covered in the research, which will assist decision makers in preparing the framework for short and long term strategies for enterprises by region.

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Bionic Eye Market Dynamics:

Product approvals are increasing, visual loss is becoming more common, and rigorous research and development focused on product innovation is driving demand for bionic eyes. As of October 2019, approximately 2.2 billion people worldwide were affected by vision impairment or blindness, with at least 1 billion suffering from untreated or preventable illnesses, according to the World Health Organization. Positive clinical outcomes associated with the use of bionic eyes have aided in the product's adoption among those suffering from incurable eye diseases and permanent vision loss.

According to the National Eye Institute, RP is a rare genetic condition that affects one in every 4,000 people worldwide. According to the Bright Focus Foundation, approximately 11 million Americans suffer from age-related macular degeneration, with the figure expected to double by 2050. The global population of people with macular degeneration is expected to reach 288.0 million by 2040, up from 196.0 million in 2020, according to the foundation.

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Bionic Eye Market Segmentation:

The market is divided into two types: external eyes and implanted eyes. By 2027, the External Eye segment is expected to have the largest market share. Market participants are concentrating on technological advancements in order to provide better patient outcomes. Second Sight introduced the Orion bionic eye in 2017, which includes an upgraded Video Processing Unit (VPU), a face detection system, and 3D vision via stereo cameras mounted on the eyewear. Patients can now use the revised version's obstacle detection and navigation features. The FDA granted the device Expedited Access Pathway Designation.

The use of bionic eyes is expected to rise as the prevalence of age-related vision loss caused by macular degeneration, which causes blurred vision, rises. According to the National Institutes of Health, macular degeneration will affect approximately three million Americans over the age of 40 by 2020.

Bionic Eye Market Key Players:

• Retina Implant Ag
• Second Sight Medical Products LLC
• Bionic Vision Australia
• Nidek Co. Ltd.
• Nano Retina Ltd.
• Biomedical Technologies S.L.
• Pixium Vision
• Monash Vision Group
• MetaModal LLC
• The Bionic Eye
• iBionics
• Zimmer Biomet
• Essilor and AAC Media
• Neostrata Company
• Berlin Heart

COVID-19 Impact Analysis on Bionic Eye Market:

Consumer and demand movements, purchasing behaviour, supply chain transformations, and current market power dynamics are examined in the report. The impact of COVID-19 on the Bionic Eye market, as well as insights, analyses, estimates, and predictions, are discussed in this updated report. In this report, we examine the impact of COVID-19 lockout on market leaders, followers, and disruptors. Based on the way the lockdown was implemented, the impact varies by location and region.

Bionic Eye Market, Key Highlights:

• The report provides analysis and projection of the Bionic Eye market in terms of value.
• Market drivers, constraints, and opportunities driving the growth of the Bionic Eye Market are all examined in depth.
• The Bionic Eye Market has been segmented based on Intelligent Virtual Assistant, End User, Distribution Channel, Price, and geography (country-wise).
• This report analyses the Bionic Eye Market with respect to individual growth trends, future prospects, as well as the contribution of various submarket stakeholders.
• Analysis and forecasts for the Bionic Eye market for five key regions: North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and Latin America, as well as country-level segmentation.
• A profile of key industry participants and an analysis of core competencies are included, in addition to strategic perspectives, market positioning, and analyses of core competencies.
• The top companies active in the Bionic Eye Market are profiled in terms of their competitive advancements, investments, strategic growth, and competitive landscape.

About Maximize Market Research:

Maximize Market Research, an industry research firm with a dedicated team of specialists and data, has conducted comprehensive research on the Bionic Eye market. Maximize Market Research provides B2B and B2C research on 6,500 high-growth, emerging technologies for the chemical, healthcare, pharmaceutical, electronics, Internet of Things, food and beverage, aerospace, and defence industries. Maximize Market Research analyses the competitive landscape of sectors in addition to evaluating and estimating market size.

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