Published: 2019 June 22
Updated : 2023 February 22

Retinal Implants Market Size, Competitive Landscape and Market Forecast - 2029

SKU : MD1303
180 pages
Report Summary
Table of Contents
List of Tables & Figures

Global Retinal Implants Market is segmented by Product Type (Retina Implant Alpha AMS, Implantable Miniature Telescope, Argus II, Others), By End User (Hospitals, Eye Care Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029


Retinal Implants Market Overview

The global retinal implants market size was valued at US$ 59.78 million in 2022 and is estimated to reach US$ 118.17 million by 2030, growing at a CAGR of 9.1% during the forecast period (2023-2030).

Retinal prostheses or implants, a kind of bionic eye, are electronic devices which are implantable  and are designed to stimulate vision sensation in the eyes of people with significant retinal disorders such as age-related macular degeneration or retinitis pigmentosa, where the visual cortex or optic nerve are unaffected.

                                                                                                      Source: DataM Intelligence Analysis (2022)

Retinal Implants Market Dynamics

The major factors driving the global retinal implants market are the rising demand for advanced devices owing to increasing incidences of ocular disorders requiring proper treatment, surging awareness initiatives, advancements in technologies leading to novel product launches.

The increasing number of retinal damages and rising geriatric populations are expected to drive the market’s growth.

The retinal implants market is driven by increasing demand of implants, rising advancements in technology, an increase in the geriatric population, a surge in research and development investments, an increasing number of ocular diseases and improvements in novel products using the latest technology along with improvements in medical infrastructure in emerging markets.  

The retinal implants are used widely for stimulating the eye vision sensation. The adoption of these devices is increasing, leading to rising government initiatives and funds. These funds will help produce more developed products such as PRIMA, IRIS V2 and Argus II for treating retinal pigmentosa. The market for these retinal implants is increasing worldwide due to the enhanced number of people suffering from retinal disorders. Moreover, the availability of technologically advanced products by key players is also expected to play a vital role in the market’s growth.

Various novel product launches, research studies, and rising awareness initiatives related to these Retinal Implants contribute to the market’s growth. For instance, in Jan 31, 2022, Bionic Vision Technologies (BVT) announced about world-first Bionic Eye System of Australia has received breakthrough device designation from the Food and Drug Administration in the United States. This ground-breaking technology provides functional vision to people who due to Retinitis Pigmentosa (RP), the genetic condition, lost their sight.

High cost of treatment associated with retinal disorders are expected to hamper the market’s growth.

However, uncertain reimbursement policies associated with these retinal implants is the key factor which may hamper the market growth. Due to the uncertainty clinicians as well as patients hesitate in adopting these devices. 

The high cost of treatments associated with these retinal disorders is also a factor hindering the growth of the retinal implants market. The highly advanced implants such as Argus II cost around $115,000 to $150,000. The people living in low or middle income countries can’t afford such expensive products.

COVID-19 Impact Analysis on Retinal Implants Market

The pandemic has negatively impacted global financial expectations, operations and crisis response strategy. The COVID-19 outbreak has severely impacted the healthcare industry. The retinal implants market has experienced huge losses due to COVID. Key manufacturers have started various research and clinical trials. 

Various initiatives, product launches, collaborations and mergers are happening worldwide, boosting the market’s growth. The increasing awareness among the population regarding the ocular disorders related to retina and their treatment will also drive the market in upcoming time.

Retinal Implants Market Segment Analysis

The Argus II retinal prosthesis systems segment is expected to grow at the fastest CAGR during the forecast period (2023-2030)

The Argus II Retinal Prosthesis System segment is the highest market holder in the global retinal implants market. The global retinal implants market is segmented based on product type as Argus II Retinal Prosthesis System, Retina Implant Alpha IMS, Photovoltaic Retinal Implant (PRIMA), EPI-RET3, Intelligent Retinal Implant System (IRIS V2), Suprachoroidal Retinal Prosthesis, Subretinal Retinal Prosthesis. The Argus II Retinal Prosthesis Systems segment is the largest market shareholder due to the increasing adoption of these devices globally as implants, increasing technological advancements and novel product launches. 

The Argus II is an epiretinal, micro-electrode array retinal prosthesis of second-generation developed and marketed by Second Sight Medical Products. It was approved for commercialization in both the United States and Europe, became the first device to receive that distinction. The design of it differs from the Argus I, the first generation model, in the spacing and number of microelectrodes on the array, the internal processing components placement (instead of subcutaneous placement in the temporal recess it is sutured onto the sclera), and the external transmission coil placement (instead of held magnetically by the internal components across the temporal bone it is built into the sidearm of the glasses). 

The growing number of regulatory approvals, technological advancements, product launches, and research/clinical trial studies drives the market’s growth. For instance, in March 5, 2021, Second Sight Medical Products, a developer and seller of implantable visual prosthetics intended to develop a useful vision’s artificial form for blind individuals, announced about receiving approval for the Argus 2s Retinal Prosthesis System by the U.S. Food and Drug Administration (FDA). Argus II is a redesigned external hardware (video processing unit) set initially for utilization for the treatment of retinitis pigmentosa (RP) in combination with already implanted Argus II systems.

                                                                                                     Source: DataM Intelligence Analysis (2022)

Retinal Implants Market Geographical Analysis

North America holds the largest market share in the global retinal implants market.

North America dominates the global retinal implants market primarily due to its large population, excellent medical infrastructure, and high-income levels. The market is expected to grow at a relatively moderate pace during the forecast period due to healthcare expenditure in the US. The market’s significant size is attributed to the high medical expenditure.

Increasing expenditure on healthcare and raising awareness among people is also contributing to the market’s growth in this region. Advancement of retinal implants such as Retina Implant Alpha IMS, Photovoltaic Retinal Implant (PRIMA) and EPI-RET3, increase in pharmaceutical establishment across the region and government approvals, and the presence of key players in the region are contributing to the growth of the retinal implants market. 

Moreover, the growing number of product launches is responsible for the market’s growth. Many key developments, technological advancements, collaborations, and agreements are taking place in this region. For instance, in September 6, 2021, Bionic Vision Technologies (BVT) announced its strategic partnership with Cirtec Medical, a US MedTech company. Under this partnership, Cirtec received a strategic stake in Bionic and will further assist them in developing and producing its next-generation bionic eye.

                                                                                                                       Source: DataM Intelligence Analysis (2022)

Retinal Implants Market Competitive Landscape

The retinal implants market is moderately competitive with local and global companies’ presence. Bionic Vision Technologies, Vivani Medical, Inc., Samsara Vision Inc., Visus Technology Inc., Pixium Vision, Nano Retina, Labtician Ophthalmics, Inc., VisionCare, Inc., Cicor Management AG, Second Sight Medical Products Inc. and more. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the market’s growth. For instance, in February 24, 2021, Diagnos Inc., a FLAIRE platform based on Artificial Intelligence (AI) developer, announced its strategic agreement of partnership with Labtician Ophthalmics, a Toronto-based company introducing and marketing DIAGNOS AI platform for ocular health monitoring and improve patient care.


Bionic Vision Technologies

Overview: Bionic Vision Technologies Pty Ltd is a medical device company based in Australia that is focused in preserving and restoring a sense of vision by creating a range of best technologies for meeting the needs of people having degenerative retinal conditions. BVT is marketing the technologies developed by Bionic Vision Australia (BVA).

Product Portfolio: 

Argus II Retinal Prosthesis: It is a redesigned external hardware (video processing unit) set initially for utilization for the treatment of retinitis pigmentosa (RP) in combination with already implanted Argus II systems


The global retinal implants market report would provide access to approx.: 45+market data table, 40+figures and 200 (approximate) pages.

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