Artificial Eye Market Size was valued at USD 1.92 Billion in 2023. The Artificial Eye market industry is projected to grow from USD 2.05 Billion in 2024 to USD 3.33 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.21% during the forecast period (2024 - 2032). Ageing population, growing awareness and acceptance, increasing prevalence of eye disorders, customization and personalization, are the key market drivers enhancing the market growth.
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
In February 2024, Eye Prosthetics of Utah has been acquired by United Ocular, a move that will enhance the lives of people who have lost an eye through accident, trauma or illness.
India’s Clareon Monarch IV delivery system and Alcon India's Clareon Monofocal and Clareon Toric intraocular lenses (IOLs) were launched in August 2023; this is, thus far, the most sophisticated amalgamation of all cataract treatment options provided by Alcon Co Ltd.
In July 2023, Eyenuk, a company well-versed in medical AI, was approved by the US FDA for its innovative technology for retinopathy detection via back-of-the-eye imaging analysis.
In June 2023, Israel-based startup CorNeat Vision had its synthetic tissue product approved by the US FDA. The world’s first non-degradable synthetic tissue for use in ophthalmic surgery is embodied by this groundbreaking synthetic tissue substitute developed by the firm. In place of donor tissues, EverPatch was created to prevent disease transmission.
In June 2022, pSivida (an EyePoint Pharmaceuticals subsidiary) became the first Western pharma manufacturer to win regulatory approval from China using real-world data alone for an implant designed to treat one form of eye inflammation.The Food and Drug Administration (FDA) recently designated Australia's bionic eye as a "breakthrough device" in January 2022. It means that BVT will experience expedited development and review timelines along with greater interaction with the FDA regarding their innovation pathway toward market approval.
In March 2021, Acuvue Oasys Multifocal with Pupil Optimized Design was introduced by Johnson & Johnson using Acuvue Oasys material, which is made up of senofilcon A and has great convenience as well as vision correction properties when compared to other materials available on the market today.
In June 2020, the Hong Kong University of Science and Technology (HKUST) announced that it developed the world’s first 3D artificial eye with capabilities that surpass bionic eyes currently in use and, in some cases, even exceed those of human eyes, which may provide hope for android robots as well as sufferers of sight loss.
The rise in the elderly population, the rise in the number of people who are blind or partially blind, and the rise in illnesses that impair vision, such as diabetes and retinal cancer, are all factors contributing to the predicted notable growth of the artificial eye market size between 2023 and 2032.
Artificial eyes, also referred to as prosthetic eyes, enable those who have lost an eye due to disease or trauma seem better. The availability of comparably less expensive alternative treatments and the high cost of therapy are anticipated to limit market growth. However, low-cost processes for implanting artificial eyes as well as other technological advancements in the manufacture of these prosthetics will spur industrial growth in the years to come.
Industry leaders will conduct product development and other R&D activities to increase revenue in the artificial eye market. Millions of people are affected by the rising prevalence of eye problems, which is a major worry for the entire world. Eye disorders are a broad category of ailments that affect the structure and function of the eyes and can cause reduced vision or blindness. Numerous reasons, such as demographic shifts, way of life decisions, and the general ageing of the population, might be linked to this tendency.
The ageing population is one of the key factors contributing to the increased prevalence of eye problems. Age-related eye disorders are more likely to occur as people age. Among the most prevalent age-related eye conditions are cataracts, glaucoma, age-related macular degeneration (AMD), and diabetic retinopathy. If ignored, these disorders can result in gradual eyesight loss, impacting everyday activities and general quality of life.
Refractive errors, in addition to age-related eye problems, also considerably increase the likelihood of visual impairment. Many people around the world are affected by myopia (nearsightedness), hyperopia (farsightedness), astigmatism, and presbyopia. These problems result from anomalies in the eye's shape, which makes it difficult to focus on objects at different distances. While refractive defects can be addressed with eyeglasses, contacts, or refractive surgery, their rising prevalence emphasises the need for easy access to effective vision correction techniques. Thus, driving the Artificial Eye market revenue.
The Artificial Eye market segmentation, based on type includes non-integrated implants, integrated implants. The integrated implants segment dominated the market, accounting for 67.54% of market revenue Materials that are permeable, such as porous polyethylene, are used to create integrated implants. These polymers give the implant the ability to integrate with the eye socket's tissues, making it a functional body part. As a result, they might work as an essential component of the body.
The Artificial Eye market segmentation, based on technology, includes electronic and mechanical. The mechanical category generated the most income (65.25%). Segment progression may be impacted by rising ocular illness rates and an ageing population. By 2040, there will be an estimated 80 million Americans over the age of 65, according to a research. One of the primary factors driving demand for this technology is the cheap cost of mechanical prosthetic eye implantation and related procedures.
Figure 1 Artificial Eye Market, by Technology, 2022 & 2032 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
The Artificial Eye market segmentation, based on end users includes hospitals, clinics and others. The hospitals segment dominated the market, accounting for 57.54% of market revenue. Compared to other hospitals, these healthcare facilities have larger spending budgets. Hospital staff that is qualified, knowledgeable, and professional is another appealing feature. Additionally, the segment's share would be further increased by the substantial presence of numerous prosthetic eye hospitals and hospitals providing artificial eye treatment.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Artificial Eye Market dominated this market in 2022 (45.80%). The area boasts a strong healthcare infrastructure, cutting-edge prosthetics technology, and a high level of artificial eye alternatives awareness. The expansion of the market in this region is facilitated by the presence of renowned manufacturers, ocularists, and healthcare facilities. Further, the U.S. Artificial Eye market held the largest market share, and the Canada Artificial Eye market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2 ARTIFICIAL EYE MARKET SHARE BY REGION 2022 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Artificial Eye market accounts for the second-largest market share. This is due to the low cost of bariatric surgery and the rise in the number of diabetes people. Research and development are prioritised in this area, which leads to breakthroughs in artificial eye technology. Further, the German Artificial Eye market held the largest market share, and the UK Artificial Eye market was the fastest growing market in the European region
The Asia-Pacific Artificial Eye Market is expected to grow at the fastest CAGR from 2024 to 2032. The region's demand for artificial eyes is being fueled by a vast demographic base and a growing elderly population. Moreover, China’s Artificial Eye market held the largest market share, and the Indian Artificial Eye market was the fastest growing market in the Asia-Pacific region.
Artificial Eye Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Artificial Eye market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Artificial Eye industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Artificial Eye industry to benefit clients and increase the market sector. In recent years, the Artificial Eye industry has offered some of the most significant advantages to medicine. Major players in the Artificial Eye market, including Advanced Artificial Eye,The National Artificial Eye Services, Marie Allen Ocularist Ltd,COS-MEDIC PTY LTD,Retina Implant AG,Second Sight,Pixium Vision,Ericksons Custom Made Artificial Eye, and others, are attempting to increase market demand by investing in research and development operations.
Advanced Artificial Eye is a leading company in the artificial eye market, specializing in the development and manufacturing of cutting-edge prosthetic eyes. The business provides cutting-edge artificial eyes that closely resemble the appearance and performance of real eyes with a heavy emphasis on technological improvements. Their products blend cutting-edge materials, sophisticated imaging methods, and tiny electronics to produce stunning aesthetic and cosmetic results.The prosthetic eyes offered by the company are extremely individualised and may be precisely matched in terms of eye colour, size, and shape to give each wearer a distinctive and realistic appearance. The stringent quality control procedures and meticulous attention to detail at each stage of manufacturing demonstrate Advanced Artificial Eye's dedication to excellence and patient happiness.
Marie Allen Ocularist Ltd is a reputable company operating in the artificial eye market, specializing in the field of ocular prosthetics. With a lengthy history and extensive knowledge of the field, the business is renowned for its superb craftsmanship and patient-centric philosophy. In order to restore both vision and appearance, Marie Allen Ocularist is committed to provide high-quality and uniquely designed artificial eyes to people who have lost their eyes.A talented team of ocularists at the business blends traditional artistry with contemporary methods to produce individualised and realistic artificial eyes. They work closely with each patient to comprehend their specific requirements, guaranteeing a secure fit, a smooth appearance, and the best possible performance. Marie Allen Ocularist places a strong emphasis on a sympathetic and encouraging approach, guiding patients through the procedure and attending to any worries they might have.
Key Companies in the Artificial Eye market include
Artificial Eye Industry Developments
2020- A system for artificial eyes called "EYEMATE-IO" was introduced by the German company Osmed GmbH. Incorporating cutting-edge materials and design, this system offers a more natural and adaptable appearance, enhancing patient comfort.
2019-In order to investigate how their augmented reality contact lens technology might help people with visual impairments, Mojo Vision teamed up with the Vista Centre for the Blind and Visually Impaired. The goal of this partnership was to improve blind people's quality of life and vision.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 1.92 Billion |
| Market Size 2024 | USD 2.05 Billion |
| Market Size 2032 | USD 3.33 Billion |
| Compound Annual Growth Rate (CAGR) | 6.21% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Types, Technology, End Users, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Advanced Artificial Eye,The National Artificial Eye Services,Marie Allen Ocularist Ltd,COS-MEDIC PTY LTD,Retina Implant AG,Second Sight,Pixium Vision,Ericksons Custom Made Artificial Eye |
| Key Market Opportunities | Markets for Emerging Technologies |
| Key Market Dynamics | Eye disorders are becoming more common, and there are favourable reimbursement policies. |
Artificial Eye Market Highlights:
Frequently Asked Questions (FAQ) :
The Artificial Eye market size was valued at USD 1.92 Billion in 2023.
The market is projected to grow at a CAGR of 6.21% during the forecast period, 2024-2032.
North America had the largest share in the market
The key players in the market are Advanced Artificial Eye, The National Artificial Eye Services, Marie Allen Ocularist Ltd, COS-MEDIC PTY LTD, Retina Implant AG, Second Sight, Pixium Vision, Ericksons Custom Made Artificial Eye.
The Integrated category dominated the market in 2023.
The Mechanical had the largest share in the market.
Research Analyst Level I He is an extremely curious individual currently working in healthcare and medical devices domain. kinjoll is comfortably versed in data centric research backed by healthcare educational background. he leverages extensive data mining and analytics tools such as primary and secondary research, statistical analysis, machine learning, data modelling. his key role also involves technical sales support, client interaction and project management within the healthcare team. lastly, he showcases extensive affinity towards learning new skills and remain fascinated in implementing them.
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