Electroretinography Market to Grow at a CAGR of 6.7% to reach US$ 62.72 Mn from 2018 to 2027

Electroretinography Market to 2027 - Global Analysis and Forecasts By Product (Fixed Electroretinography and Portable Electroretinography), Application (Clinical and Research), and Geography

  • Report Code : TIPRE00003514
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 125

Electroretinography Market to Grow at a CAGR of 6.7% to reach US$ 62.72 Mn from 2018 to 2027

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The electroretinography market was valued at US$ 35.79 million in 2018 and it is projected to reach US$ 62.72 million in 2027; it is expected to grow at a CAGR of 6.7% from 2019 to 2027.

Electroretinography (ERG) is a diagnostic test used to measure the electrical response of the light sensitive cells such as the cones and the rods present in the eyes. ERG is used for detecting eye disorders such as, retinitis pigmentosa, macular degeneration, retinoblastoma, glaucoma as well as diabetic retinopathy. Compared to the other methods of eye examination, ERG offers better results as well as causes less discomfort to the patients, hence is preferred widely for the diagnosis as well as treatment of various eye disorders. The growth of the global electroretinography market is attributed to the rising prevalence of glaucoma among individuals, increasing cases of eye disorders in developed economies and growing geriatric population worldwide. However, risks associated with the electroretinography is the major factor hindering the market growth.

The global electroretinography market is expected to witness substantial growth post-pandemic. The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. New technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected to witness more vertical integration and joint ventures in coming years. 

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Electroretinography Market: Strategic Insights

Electroretinography Market
  • CAGR
    CAGR (2018 - 2027)
    6.7%
  • Market Size 2018
    US$ 35.79 Million
  • Market Size 2027
    US$ 62.72 Million

Market Dynamics

GROWTH DRIVERS
  • Increase in eye-related diseases
  • Growing demand for diagnostic tools
FUTURE TRENDS
  • Advances in retinal diagnostics
  • Increasing use of technology in vision care
OPPORTUNITIES
  • Growth in ophthalmology research
  • Increase in demand for diagnostic devices

Key Players

  • LKC Technologies Inc
  • Diagnosys LLC
  • Electro Diagnostic Imaging Inc
  • Diopsys Inc
  • Roland Consult Stasche Finger GmbH
  • Metrovision
  • Costruzione Strumenti Oftalmici
  • Konan Medical USA Inc
  • Welch Allyn

Regional Overview

Regional Overview
  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Market SegmentProduct
  • Fixed Electroretinography
  • Portable Electroretinography
Market SegmentApplication
  • Clinical and Research
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Market Insights

Rising Prevalence of Glaucoma Among Individuals to Drive Global Electroretinography Market Growth

Glaucoma is a disease that damages the eye’s optic nerve. The condition occurs when a layer of fluid fills up on the outer side of the eye, creating a pressure and hence leading to damage to optic nerves. Glaucoma often leads to vision loss, eventually causing blindness. The World Health Organization estimates that 4.5 million people worldwide are blind due to glaucoma. In the United States, around 120,000 are blind from glaucoma, accounting for 9% to 12% of all cases of blindness. The population mostly susceptible to vision loss due to glaucoma includes the population aged above 60 years. However, if it is detected and treated at an early stage, one can avoid vision loss. The worldwide age- standardised prevalence of glaucoma in the population aged 40 years and above is estimated to be around 3·5%.

Glaucoma are basically of two types: open-angle glaucoma and closed-angle glaucoma. Open-angle glaucoma is the most common form and is denoted by various risk factors such as, sub-Saharan African ethnic origin, elevated intraocular pressure, older age, positive family history, and high myopia. Whereas, the risk factors for closed-angle glaucoma include, East Asian ethnic origin, hyperopia and older age.

As per Glaucoma Research Foundation, currently there are around 3 million people with glaucoma in the United States. The number is expected to reach up to 4.2 million by 2030, with an increase of almost 58 percent, as per the forecasts given by, The National Eye Institute. Moreover, among African American and Latino populations, glaucoma is more prevalent, being 6 to 8 times more common in African Americans than in the Caucasian population.

Pattern electroretinography (PERG) is considered to be an efficient method for the early detection and treatment of glaucoma. PERG offers a few advantages over other tests that are routinely use to diagnose and monitor glaucoma patients. Most particularly, PERG is able to detect functional abnormality very early in disease—in some cases possibly as much as eight years earlier than our other tests. PERG tests are sensitive in nature and hence allow early detection of abnormalities, hence timely avoiding the death of retinal ganglion cells (RGC). Hence, the rise in the cases of blindness owing to glaucoma and the ability of PERG to enable better detection is expected to significantly to drive the market during the coming years.

Product -Based Insights

In terms of product, the global electroretinography market is segmented into fixed electroretinography and portable electroretinography. In 2018, the fixed electroretinography segment held largest share of the market. However, the portable electroretinography segment is estimated to register the highest CAGR during the forecast period.

Application-Based Insights

Based on application, the global electroretinography market is segmented into clinical and research. The clinical segment held the largest market share in 2018. Also, the same segment is estimated to grow at the highest CAGR during the forecast period.

The global electroretinography market players are adopting the product launch and expansion strategies to cater to changing customer demands worldwide, which also allows them to maintain their brand name globally.

Electroretinography Market Report Scope

Report Attribute Details
Market size in 2018 US$ 35.79 Million
Market Size by 2027 US$ 62.72 Million
Global CAGR (2018 - 2027) 6.7%
Historical Data 2016-2017
Forecast period 2019-2027
Segments Covered By Product
  • Fixed Electroretinography
  • Portable Electroretinography
By Application
  • Clinical and Research
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • LKC Technologies Inc
  • Diagnosys LLC
  • Electro Diagnostic Imaging Inc
  • Diopsys Inc
  • Roland Consult Stasche Finger GmbH
  • Metrovision
  • Costruzione Strumenti Oftalmici
  • Konan Medical USA Inc
  • Welch Allyn
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

 

Global Electroretinography Market – by Product

  • Fixed Electroretinography
  • Portable Electroretinography 

Global Electroretinography Market – by Application

  • Clinical
  • Research

Global Electroretinography Market – by Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • UK
    • Spain
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of APAC
  • Middle East & Africa (MEA)

    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • South America and Central America (SCAM)

    • Brazil
    • Argentina
    • Rest of SCAM

Company Profiles

  • LKC Technologies, Inc
  • Diagnosys LLC
  • Electro-Diagnostic Imaging, Inc.
  • Diopsys, Inc.
  • Roland Consult Stasche & Finger GmbH
  • Metrovision
  • Costruzione Strumenti Oftalmici
  • Konan Medical USA, Inc.
  • Welch Allyn
Report Coverage

Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered

Segment Covered

Product , Application , and Geography

Regional Scope

Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope

Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

The List of Companies

  1. LKC Technologies, Inc
  2. Diagnosys LLC
  3. Electro-Diagnostic Imaging, Inc.
  4. Diopsys, Inc.
  5. Roland Consult Stasche & Finger GmbH
  6. Metrovision
  7. Costruzione Strumenti Oftalmici
  8. Konan Medical USA, Inc.
  9. Welch Allyn

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