Artificial Eye
The global artificial eye market, valued at USD 237.5 million in 2022, is projected to grow at a compound annual growth rate (CAGR) of 7.3% during the forecast period, according to a recent market analysis. The increasing prevalence of vision injuries and eye-related diseases are major factors driving this growth. Artificial eyes, also known as prosthetic eyes, are used as replacements for damaged or lost eyes due to various causes, including infections, workplace accidents, and exposure to harmful UV radiation.
According to the World Health Organization (WHO), 13 million people around the world suffer from work-related vision impairments, with approximately 3.5 million eye injuries occurring annually. These statistics underscore the growing need for artificial eyes to help individuals regain visual functionality.
Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/2859
Market Growth Drivers
One of the primary drivers of the artificial eye market is the rising incidence of vision impairment and blindness across the globe. Conditions such as cataracts, diabetic retinopathy, glaucoma, and macular degeneration are leading causes of blindness. The WHO reports that about 2.2 billion people worldwide experience vision impairment, and in at least 1 billion of these cases, vision loss could have been prevented. Additionally, only 17% of those affected by cataracts receive the necessary treatment, indicating a significant unmet need in the market.
The growing elderly population is another major factor boosting demand. Vision problems such as age-related macular degeneration (AMD), cataracts, and glaucoma are common among older adults. By 2030, one in six people globally will be over the age of 60, further driving demand for artificial eyes.
Recent regulatory developments have also played a key role in market growth. In July 2023, Eyenuk, a medical AI company, received approval from the U.S. Food and Drug Administration (FDA) for a groundbreaking technology that analyzes eye images to detect signs of diabetic retinopathy. Such innovations are expected to spur further growth in the artificial eye market.
Challenges Facing the Market
Despite the growing demand, the high cost of artificial eyes is a significant barrier to market growth. Customized artificial eyes are designed to fit individual needs, which makes them expensive and inaccessible to many patients. Developing cost-effective production methods will be essential for making artificial eyes more affordable and widening their accessibility.
Market Segmentation Insights
The artificial eye market is segmented based on materials and surgery types, both of which are showing promising trends.
Material Insights
In 2022, cryolite glass held the largest market share. This material is preferred due to its lightweight properties, which improve patient comfort and make the production of customized prostheses more efficient. Cryolite glass also requires fewer consultations for prosthesis development, streamlining the entire process.
Hard plastic acrylic is projected to see the highest growth during the forecast period. Its popularity stems from its lightweight, flexible, and translucent qualities, which are ideal for surgical applications.
Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/artificial-eye-market
Surgery Insights
The artificial eye market is also segmented by surgical procedures. Evisceration surgery, which involves removing all intraocular contents while leaving the scleral shell intact, accounted for the largest share of the market in 2022. This procedure is particularly useful in treating trauma and infections, and its growing acceptance in the medical community is driving market growth.
Enucleation surgery, another key segment, is expected to register the fastest growth rate. This surgery, which involves the removal of the entire eye, is often used to treat intraocular tumors and severe infections. It is also effective in preventing sympathetic ophthalmia, a dangerous autoimmune reaction following eye trauma.
Artificial Eye Top Companies and Competitive Landscape
The artificial eye market is consolidated, with few key players accounting for the majority of market revenue. Major players are deploying various strategies, entering mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing new products and solutions.
Some major players included in the artificial eye market report are:
Advanced Artificial Eyes
CosMedical Technologies, LLC
Erickson’s Eyes
International Prosthetic Eye Center
Marie Allen Ocularist Ltd
The National Artificial Eye Servic
Second Sight Inc
Retina Implant AG
Pixium Vision
Bionic Vision Technologies
Bionics Institute
Preceyes B.V
Optobionics
Ocumetics Technology Corp
Visioncare Optolab Pvt. Ltd
i-Optik
Vuzix
Mojo Vision Inc
SNG Labs
Wicab, Inc
Artificial Eye Latest Industry Updates
On 11th Juen 2023, The United States Food and Drug Administration (FDA) approved synthetic tissue substitute developed by Israel based startup CorNeat Vision. This groundbreaking synthetic tissue substitute represents the world’s inaugural non-degradable synthetic tissue for ophthalmic surgery. EverPatch was developed to supplant the utilization of donor tissue, mitigating the risk of disease transmission.
On 29th November 2021, Germany based applied research in visual computing company Fraunhofer technology developed several technologies that surpass the current method of manually producing individual prostheses. Fraunhofer’s Cuttlefish Eye software employs a 3D scan of the eye socket along with a colour-calibrated image of the healthy eye to generate a 3D model of the prosthetic eye. The model is then printed using Fraunhofer’s Cuttlefish 3D printing driver on a multicolour, multilateral 3D printer.
Artificial Eye Market Segmentation Analysis
For the purpose of this report, Emergen Research has segmented artificial eye market on the basis of product type, material type, surgery, and region:
Product Type Outlook (Revenue, USD Million; 2019-2032)
Moulded
Cosmetic shell
Others
Material Type Outlook (Revenue, USD Million; 2019-2032)
Cryolite glass
Hard Plastic acrylic
Others
Surgery Outlook (Revenue, USD Million; 2019-2032)
Evisceration surgery
Enucleation surgery
Others
Direct Order Can Be Placed Through This Link [Exclusive Copy] @ https://www.emergenresearch.com/select-license/2859
Regional Outlook (Revenue, USD Million; 2019-2032)
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA
Artificial Eye Market Snapshots
Artificial Eye Market Size: https://www.emergenresearch.com/industry-report/artificial-eye-market/market-size
Artificial Eye Market Share: https://www.emergenresearch.com/industry-report/artificial-eye-market/market-share
Artificial Eye Market Trends: https://www.emergenresearch.com/industry-report/artificial-eye-market/market-trends
Artificial Eye Regional Market Demand: https://www.emergenresearch.com/industry-report/artificial-eye-market/regional-market-demand
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: http://www.emergenresearch.com
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Visit for More Insights: https://www.emergenresearch.com/insights
About Us:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
This release was published on openPR.
