ARTIFICIAL RETINA MARKET ANALYSIS

Regional Analysis

Artificial Retina Market Regional Analysis

North America and Europe are expected to dominate the overall artificial retina market throughout the forecast period (2016–2024). This is primarily attributed to robust healthcare infrastructure and high spending on healthcare R&D in these regions. The healthcare industry in North America is undergoing major transformation following the implementation of various healthcare reforms. Moreover, the region is home to over 10 million visually impaired population seeking effective treatment. Every year, 50 thousand people go blind in North America. Advancements in development of artificial retina is projected to create lucrative growth opportunities for market players in the region. Most of the countries in Europe and North America have healthcare spending of over 10% of overall GDP.

Asia Pacific is projected to emerge as the next big market for industry players. The region is home to over 55% of the global visually impaired population. The rate of RP is highest in Asia Pacific compared to other regions. However, the artificial retina market in the region is projected to grow at relatively slower pace through the forecast period. The region is expected to be primarily driven by high demand in Japan, followed by China and India, respectively.