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.
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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
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Global Artificial Photoreceptors Market: Research Scope
Global Artificial Photoreceptors Market, by End-users
- Ophthalmic Clinics
- Research Institutes
Global Artificial Photoreceptors Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.