Wireless Visual Cortical Stimulator Market Analysis
Wireless Visual Cortical Stimulator Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026
Wireless visual cortical stimulator devices are visual prosthetics used to restore functional vision of a blind user. It provides electrical stimulator that bypasses defected retinal cells and stimulates viable cells to induce visual perception. On October 26, 2016, Second Sight, announced its first implantation in a 30-year blind patient to provide human proof for the ongoing development of Orion I Visual Cortical Prosthesis (Orion I), wireless visual cortical stimulator. In 2013, the U.S. FDA approved Second Sight’s Argus II System, a visual cortical stimulator that provides electrical stimulation that bypasses defunct retinal cells to stimulate viable cells. The difference between Orion I and Argus II System is that Orion I uses wireless technology. The device allows restoring vision to patients completely blind due to glaucoma, cancer, diabetic retinopathy or trauma cases. The first implantation proved that the device perceive and localize individual light spots with no side effects associated with it. It is rare that all technological development offers string opportunity, though the first human test of Orion I, wireless visual cortical stimulator proved to be able to treat visually impaired patients with no side effects. The company expects to submit the application to the FDA in early 2017 for the initial completion of clinical trial of the complete system.
Wireless visual cortical stimulator market is segmented on the basis of indication type and end users. On the basis of indication type, the market is segmented into cancer, diabetic retinopathy, trauma, glaucoma, and other indication. Diabetic retinopathy and glaucoma segments are expected to contribute major share to the overall market. ON the basis of end user, the visual cortical stimulator market is segmented into hospital, ambulatory surgical centers, emergency care units, specialized clinics, and others
Global Wireless Visual Cortical Stimulator Market Taxonomy
The global market is classified on the basis of following segments:
Increasing Incidence of Diabetic Retinopathy Provides Positive Future Outlook for Wireless Visual Cortical Stimulator Market
The global wireless visual cortical stimulator is expected to witness significant growth in the near future due to increasing number of diabetic retinopathy cases reported worldwide. It is the fifth-most common cause of preventable blindness and moderate to severe visual impairment. In 2010, an estimated 285 million people worldwide suffered from diabetes. The increasing trauma cases and cancer cases are expected to create lucrative growth opportunity for wireless visual cortical stimulator manufacturers and developers.
The growing concern with blindness due to diabetes and governments or organizations initiatives to grow awareness among patients related to blindness treatment through campaigns and national diabetes awareness programs to act as a fuel to the growth of wireless visual cortical stimulator market. In October 2016, Kasturba Heath Society, Mahatma Gandhi Institute of Medical Sciences in India initiated diabetic care program to prevent blindness from diabetic retinopathy aimed to create awareness and prevent blindness from diabetic retinopathy. The CDC’s Vision Health Initiative (VHI) is one such initiative started by Center for Disease Control and Prevention aimed to create more effective network for vision loss prevention and eye health promotion. The presence of other alternative treatment methods like medication, visual cortical stimulator device will hamper the growth of wireless visual cortical stimulator. The time span for FDA approval and time required for adoption of device is expected to hamper the overall growth of wireless visual cortical stimulator industry. North America and Europe are expected to be major revenue contributors towards the market due to these regions being early adopters of novel technologies.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to: