Market Size (2016)
2016
$4.02B
Vertical: HealthcareBase Year: 201811 Sections
Market Size (2016)
2016
$4.02B
Projected (2025)
2025
$24.71B
CAGR (2016–2025)
22.4%
22.4%Key Players
103+
Artificial retina is a minimally invasive device used to treat vision problems such as age-related macular degeneration and retinitis pigmentosa. The artificial retina implanted into the eye receives signals from the small camera located on the eyeglasses and wirelessly sends signals to the microprocessor to create an image that the patient can see clearly.
Factors such as rapid growth in the geriatric population with vision problems, product launch and technological advancement in artificial retina products, and the growing population with retinitis pigmentosa diseases, are driving the growth of the artificial retina market. However, surgical complications of artificial implants and the availability of alternative treatment methods are hampering the market growth.
The Artificial Retina Market market is projected to grow at a CAGR of 22.4% from 2016 to 2025.
Historical performance and future projections (2020–2030, USD Billion)
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View Subscription PlansMarket Size (USD Mn)
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View Subscription PlansThe scope of the global artificial retina market study includes market size analysis and a detailed analysis of the manufacturer’s products and strategies. The market has been segmented based on type, indication, end user, and region.
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View Subscription PlansThis report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.
Base Year
2018
Historical Period
2016 – 2018
Forecast Period
2018 – 2025
Primary Interviews
150+
Historical data (2016–2018) and forecast period (2018–2025)
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
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View Subscription PlansBargaining Power of Suppliers
The bargaining power of suppliers in the artificial retina market is expected to be high. The number of raw material suppliers in the market is low, which limits the options for the market players. On the other hand, since high-quality materials are used in the manufacturing of artificial retina devices, only a few numbers of viable raw material suppliers are available, which further increases the bargaining power of suppliers in the market.
Bargaining Power of Buyers
The bargaining power of buyers is low in the artificial retina market. The market has a large number of buyers that are ophthalmic centers, hospitals, and individual professionals. On the other hand, the number of manufacturers is very low, due to which the buyers have limited options in the market. This decreases the bargaining power of buyers in the global artificial retina market.
Threat of New Entrants
The threat of new entrants is expected to be high in the artificial retina market. The new participants planning to enter the market are required to abide by the mandatory regulatory standards in the manufacturing of the artificial retina devices. Also, the market is characterized by brand loyalty, where establishing a brand name is difficult for the new entrants. However, the presence of very few players in the market offers lucrative opportunities for players to enter the market, which increases the threat of new entrants.
Threat of Substitutes
The threat of substitutes in the global artificial retina market is expected to be low as there are no relative substitutes available for the artificial retina.
Intensity of Rivalry
The degree of competition in the artificial retina market is medium. The modest degree of product differentiation among existing few players increases the intensity of rivalry in the market slightly. The company’s manufacturing artificial retina devices are working on developing cost-effective products, especially for use in developing countries. Moreover, the players are also developing advanced technology implants for differentiating their products.
Market estimates by geography (2025)
InsightAmericas leads with $11.87B by 2025.
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View Subscription Plans| REGION | 2016 | 2018 | 2025 | CAGR | SHARE |
|---|---|---|---|---|---|
| Middle East and Africa | $285.55M | $439.53M | $1.19B | 17.2% | 5% |
| Americas | $1.15B | $4.31B | $11.87B | 29.6% | 48% |
| Asia Pacific | $754.26M | $1.87B | $5.21B | 27.3% | 21% |
| Europe | $2.59B | $2.30B | $6.44B | 10.7% | 26% |
| Total | $4.78B | $8.92B | $24.71B | 22.4% | 100% |
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View Subscription PlansTotal Market Size
$24.71B
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| Epiretinal Implants | $19.57B | 22.4% | 47% |
| Subretinal Implants | $4.73B | 22.4% | 47% |
| Suprachoroidal Implants | $411.56M | 22.4% | 82% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
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Analytical insights on Artificial Retina Market covering market dynamics, competitive landscape, and strategic outlook.
The Artificial Retina Market market is projected to reach $24.71B by 2025, growing at 22.4% CAGR. The Epiretinal Implants segment holds the largest share.
Artificial retina implant is a bioelectric device which includes microelectronics and microchip electrodes that are surgically placed into the back of the eye to restore the function of damaged light cells (rods and corns). Artificial retina devices thus bypass defected photoreceptor cells and pass electrical signals directly to the retina and optical nerves which help patients in creating a visual image.
Factors such as growing geriatric population, which leads to age-related vision problems, an increasing number of people affected by retinitis pigmentosa diseases and increasing investment and research activities to develop eye care products drive the market growth. Additionally, the growing prevalence of diabetes causes vision problems boosting market growth. However, surgical complications of artificial implants and the presence of alternative treatment methods hamper market growth.
Likewise, the development of innovative products would serve as an opportunity for market growth.
The aging population is highly prone to degenerative diseases and eye problems, which eventually leads to a rise in diagnosis and treatment. Age-related macular degeneration (ARMD) also known as macular degeneration, is one of the serious eye diseases that may cause permanent vision loss in people above the age of 60. ARMD occurs when the retina gets damaged and the patient could not see clearly. The person having ARMD could get blurry images and faces difficulty in differentiating color. According to the National Center for Biotechnology Information, 2016 the prevalence of ARMD in the US is anticipated to increase to 22 million by 2050, and the global prevalence is expected to rise to 288 million by 2040.
Additionally, according to the BrightFocus Foundation fact sheet, 11 million people in the US has some form of age-related macular degeneration and it is expected to get double to nearly 22 million by 2050. Furthermore, BrightFocus Foundation reported that the estimated cost of visual loss due to ARMD in the US, Cuba, and Canada collectively is approximately USD 98 billion. The increasing spending on vision impairment treatment drives market growth.
Also, the rising aging population will lead to an increase in ARMD cases, which will eventually lead to growth in the artificial retina market.
The artificial retina itself is a new approach and an upcoming technology in the healthcare industry. There are various companies involved in developing a bionic eye as a treatment option for patients with vision problems. There are continuous funding and research support from various research organizations to develop these products. For instance, in August 2018, the American Chemical Society, a leading scientific society with more than 152,000 members in 120 countries, developed a new generation of artificial retina based on 2D material. Scientists from these organizations have developed ultrathin artificial retina using molybdenum disulfide and graphene as well as thin layers alumina, gold, and silicon nitrate to create a flexible, high-density and curved sensor array. Similarly, there are various other research organizations involved in developing these types of vision care products.
Hence, the rising need for the treatment of vision problems and increasing research activities act as an opportunity for the growth of the market.
Irrespective of innovative technology for the eye treatment artificial retina has some postoperative complications. Artificial retina involves the surgical process in which an electronic chip is implanted on the retina which causes eye problems. Post-operative complications include inflammation of intraocular fluids, conjunctival erosion, infection to the retina, and stimulation of nearby nerve cells as a side-effect. Additionally, patients suffering from glaucoma disease are not suitable for this product as it requires normal functioning optic nerve cells to receive signals.
Some of the other issues with electrical stimulation of the retina are that the electrodes need to be as small as possible only to stimulate a few nerve cells. These types of problems may lead to poor resolution and hamper market growth.
Near-term growth will likely concentrate in modular bioreactor lines and closed-system media workflows that shorten validation cycles while preserving batch traceability.
Partnerships between CDMOs and instrumentation vendors should accelerate standard datasets for comparability across sites, improving forecasting models used in capacity planning.
Longer horizon, organoid and microphysiological adoption may reshape segment mix; teams that invest early in assay interoperability and cloud QC hooks are better positioned to capture upside without fragmenting their analytics stack.
Profiles of 103 companies operating in the Artificial Retina Market market, including revenue, employee count, and market positioning where available.
Showing 103 of 103 companies
OPTOBIONICS
Company Headquarters: Illinois, US Company Working: Optobionics is the manufacturer of the Artificial Silicon Retina microchip (ASR). The chip was invented to stimulate damaged retinal cells from within the retina to allow the cells to recreate visual signals that are processed and sent to the brain. The device can be used in the treatment of retinitis pigmentosa.
PIXIUM VISION
Company Headquarters: France Founded: 2011 Workforce: ~30+ Company Working: Pixium Vision is a bioelectronics and brain-machine interface technology company. It connects rapid advances in visual processing, microelectronics, optoelectronics, neurobiology, and intelligent software algorithms to develop Bionic Vision Systems that utilize its competencies in machine brain interface and artificial intelligence. The company is supported by various international and multidisciplinary scientific advisory boards and partners, such as the National Health Service, Inserm, Moorfields Eye Hospital, Institut De La Vision, and The French National Center for Scientific Research (CNRS), among others.
SECOND SIGHT
Company Headquarters: California, US Founded: 1998 Workforce: ~123+ Company Working: Second Sight develops, manufactures, and markets prosthetic devices used as a treatment for blind individuals. Its principal office is in California, US. The company also has an office in Switzerland, which manages clinical and commercial operations in Europe, Asia, and the Middle East. It sells its products across Europe, Saudi Arabia, the US, Canada, Turkey, Iran, Taiwan, South Korea, Russia, and Singapore.
Novavax, Inc.
Company Headquarters: Maryland, US Founded: 1987 Workforce: ~2,500 Company Working: Novavax, Inc. is a biotechnology company that commercializes and develops vaccines to prevent a wide range of infectious diseases. It designs recombinant nanoparticle vaccine technology that produces a strong immune response against a variety of pathogens. It is partnered with leading biopharma organizations, government agencies, research institutions, and foundations, namely the Coalition for Epidemic Preparedness Innovations (US), the Joint Program Executive Office for Chemical, Biological, Radiological, and Nuclear Defense (US), the Serum Institute of India Pvt. Ltd. (India), SK Bioscience (South Korea), CPL Biological (India), and Takeda Pharmaceuticals (US). It has seven research and manufacturing facilities. It has presence in regions namely North America, Europe, and the Middle East and Africa
Ology Bioservices, Inc
Company Headquarters: Florida, US Founded: 1999 Workforce: ~800 Company Working: Ology Bioservices, Inc. is an integrated biopharmaceutical company that develops and manufactures biopharmaceuticals and medical devices. It specializes in cell therapy, gene therapy, viral vectors, antibodies, oncolytic viruses, biopharmaceutical manufacturing, and vaccines. It has collaboration and partnerships with recognized government agencies, namely the Department of Defense and Medical Countermeasures Advanced Development and Manufacturing, which support it in developing biodefense products. Moreover, it has decades of experience in developing, licensing, and manufacturing proteins, therapeutics, and vaccines. It develops products to offer both commercial customers and US governments. Furthermore, it is a wholly owned company of National Resilience, Inc. (US), and assisting Resilience through its services includes regulatory support from preclinical through licensure and cGMP manufacturing up to biosafety level 3 (BSL3).
Cleveland Biolabs, Inc
Company Headquarters: New York, US Founded: 2003 Workforce: ~150 Company Working: Cleveland Biolabs, Inc. is an innovative biopharmaceutical company developing products to address immune system diseases and serious medical needs. It is specialized in offering products such as radiation injury products, immune-oncology, and orphan drugs. It has nine product candidates in its pipeline that have been developing directly through itself or its wholly owned companies, namely Incuron, LLC (US) and Panacela Labs, Inc. (US). It has a proprietary platform, namely the Advanced Immunomodulating Multi-Receptor System (AIMS) platform, which is designed to restore immune homeostasis. Moreover, it has collaboration with government agencies which supports the advanced development and procurement of new medical countermeasures including drugs, vaccines, diagnostics, and medical supplies in order to protect public health from chemical, biological, radiological, and nuclear threats.
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Artificial Retina Market