The artificial retina market is primarily driven by the increasing developments associated with sub retinal implants for the treatment of retinitis pigmentosa (RP). Sub retinal implants are placed behind the retina and have proven to be safe and restore useful vision to a majority of patients who are blind because of RP.
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Artificial retina is an implant which consists of an array of micro-electrodes and is used for the individuals who are visually impaired due to retinal diseases. The progress of artificial retina is to restore limited vision that enables people to read during mobility and to recognize individuals. Artificial retina has proved to be a breakthrough invention for the medical device industry, as it has provided hope to a large number of visually impaired patients globally.
Retinal implants hold the promise of restoring vision with tiny prosthetic devices that capture light, convert it into electrical signals and then stimulate the neurons in the retina so that the brain can form an image. Retinal implants are used to treat AMD and RP and are generally used in multi-speciality hospitals, ophthalmic clinics, and research institutes.
The growing market for retinal implants is helping several start-ups to invest in this sectors as this a very lucrative segment due to increasing retinal diseases. Moreover, several reimbursement policies are being provided for surgeries of retinal implant. For instance, Retina Implant AG, based in Reutlingen, Germany, is focused on sub retinal implant technology. The company claims to be the first to have a fully functioning electronic retinal prosthesis to restore partial sight to the blind. Also, in March, 2016, the company secured a 28.2 million (€26 million) financing to establish clinical centers globally and to pursue reimbursement for its CE marked Alpha IMS sub retinal microchip.
The players in artificial retina market are in the process of receiving the CE approval for the artificial retinal implants. For instance, in September 2017, Pixium Vision, announced that it has received CE approval from European Medicines Agency (EMA) on its epi-retinal IRISII system, for outer retinal degeneration, including Retinitis Pigmentosa.
Some of the key players operating in the artificial retina industry include Nano Retina, Second Sight Medical Products, Inc., Optobionics, Aetna Inc., Pixium Vision, Retina Implant AG and Bionic Vision Technologies Pty Ltd.
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