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Artificial Photoreceptors Market

Artificial Photoreceptors Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030

Artificial Photoreceptors: Introduction

  • Photoreceptors are the cells which respond to light. It contains tightly packed membranes in large amounts which contain photo pigment rhodopsin. The two types of photoreceptors are cones and rods. Cones provide daytime vision and rods are responsible for dark conditions.
  • Artificial photoreceptors use nanowire arrays. These convert light into a chemical and electrical signal. This signal is then sent to the brain through the optic nerve. Its ordered structure is equivalent to the structure of photoreceptors that allows for photo absorption and charge separation.
  • The nanowire arrays can carry the photocurrent for depolarizing the neurons, and do not require external power supply. Photoreceptive units enable enhanced resolution.

Rising Prevalence of Visually Impaired Patients

  • The increasing number of visually impaired people is driving the demand for artificial retina. According to studies, 1 out of every 4000 people are affected by the condition globally. Also, according to the World Health Organization, 1.3 billion individuals are affected by visual impairment.
  • These studies are showing the rising need for treatment of visual impairment, which is fueling the artificial photoreceptors market.

Huge investment in Research and Development

  • Manufacturers of artificial photoreceptors or retina are undertaking huge investment in research and development. The innovative developments are being spearheaded by various scientists to further support blind patients.
  • In April 2020, Lambda Vision won the NASA award for advanced development of artificial retina to help patients regain their sight. NASA has funded five million dollars which will help in development of protein based artificial retina.

High Costs Associated with Implementation and Government Regulations

  • Implementation of artificial retina or photoreceptors are not cost effective. Hence, it is unaffordable for the low and middle income group of people. Also, stringent government regulations may affect product approvals. This impacts the growth of the market.

North America to Lead the Global Market

  • In terms of region, the global artificial photoreceptors market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa
  • The artificial photoreceptors market in North America is anticipated to expand at the maximum CAGR during the forecast period. This growth can be attributed to increasing research and development by the United States government, multi institutional efforts, and growing awareness among the people. These factors are expected to increase the demand for artificial intelligence sensors products in the region.
  • The artificial photoreceptors market in Asia Pacific is likely to witness stagnant growth.

Key Players in the Global Market

The global artificial photoreceptors market was highly concentrated. Prominent players operating in the global market are focusing on technological developments and expansion to meet the growing demand for photoreceptors. Moreover, manufacturers are entering into partnerships for the development of innovative products and to gain higher profit margins.

Key players operating in the global artificial photoreceptors market include:

  • Nano Retina
  • Retina Implant AG
  • Pixium Vision
  • Bionic Vision Australia
  • Others

Global Artificial Photoreceptors Market: Research Scope

Global Artificial Photoreceptors Market, by End-users

  • Hospitals
  • Ophthalmic Clinics
  • Research Institutes
  • Others

Global Artificial Photoreceptors Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Mexico
    • Rest of South America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
Artificial Photoreceptors Market

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