Bionic Eye Market Size To Reach $699.5 Million By 2030

May 2024 | Report Format: Electronic (PDF)

Bionic Eye Market Growth & Trends

The global bionic eye market size is expected to reach USD 699.5 million by 2030, projected to grow at a CAGR of 13.3% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market players are rapidly developing technological advancements to the devices to cater to the unmet patient needs due to the lack of treatment options available for permanently blind individuals. The bionic eye uses a brain implant and camera to bypass the optic nerve in visually impaired patients. Also, researchers at Monash University, Australia, and Illinois Institute of Technology, Chicago, are working on similar devices that can connect to the brain directly.

Increasing research developments and advancements to develop novel solutions for the growing prevalence of rare genetic conditions causing vision loss and advancements in clinical trials are driving the market growth. According to the article published in MIT Technology, an estimated 1.5 million people worldwide, including around 100,000 people in the U.S., have retinitis pigmentosa (RP). In January 2018, Pixium Vision received the U.S. FDA approval to initiate the clinical trials for PRIMA, a sub-retinal implant. The implant was approved for trials in patients with atrophic dry age-related macular degeneration (AMD).

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Bionic Eye Market Report

Bionic Eye Market Report Highlights

List of Key Players in the Bionic Eye Market