ARTIFICIAL RETINA MARKET ANALYSIS

Market News

Key Developments

Research and development activities, coupled with technological innovations by key players is driving growth of the artificial retina market. For instance, in August 2018, researchers from the University of Texas at Austin and Seoul National University reported that they had successfully developed a novel ultrathin artificial retina based on thin 2D materials such as graphene and molybdenum disulfide.

Moreover, market players are focused on strategic collaborations and on obtaining funds to strengthen their position in the market. In July 2019, Singapore-based Leben Care, which specializes in automated analysis of retina image using AI algorithms, received funding from IP Ventures. Leben Care plans to utilize these funds to strengthen its product, sales and marketing teams.

Product approvals from regulatory authorities for marketing of products is expected to create growth opportunities for players operating in the global artificial retina market. For instance, in July 2019, Altris, Inc., an artificial intelligence (AI) healthcare company, announced that its product 'Standard Functionality' had received the CE Mark approval. The product will have application in preliminary screening of retinal diseases in clinical practice.