Private Equity
Andrea Alms Video: Money In Motion 129 - Artificial And Bionic Eye Market
October 2024 - Private Equity
TRANSCRIPT: Hello, my name is Andrea Alms. I'm a technology investor and financial manager and this is your money in motion. What is it? The artificial eye, also known as prosthetic eye, is a custom made replacement for a natural eye that has been surgically removed due to injury, disease, cancer, diabetes, traffic accidents, and other reasons. It provides a natural look and contributes to the overall esthetics and emotional well-being of the individual.
The bionic eye is a type of electronic prosthetic surgically implant and comprises of external cameras and transmitters, as well as an inside CPU. Increasingly, more and more high tech devices are incorporated into artificial AI. AI and tech is everywhere, even in your new artificial eye. But just like your mobile phone, buyer beware. Check your model. Make software upgrades and longevity of the company.
About 2.2 billion people are either near or distant. Vision impaired. Rising incident of vision impairment due to increasing geriatric population. By 2030, 1 in 6 people in the world will be over 60 years old, according to the World Health Organization. At Allied Market Research, the artificial eye market was 2,000,000,000 in 2023 and forecast to grow to 3.6 billion in 2033 at a compound average growth rate of 6.6%.
At research and markets, the artificial eye market was 537,000,000 in 2024 and forecast to grow to 1.14 billion in 2030, at a average growth rate of 13.4%. At Insight is analytic. The bionic eye market was 264.87 million in 2022, and forecast to grow to 666.74 million in 2031, at a growth rate of 10.97%. Averaging the averages, the market is 0.9 billion with a growth rate of 10.3%. Let's keep an eye on this market. Thank you. This is your money. Your money in motion.