The global Electroretinography market reached US$ 48.42 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 93.52 million by 2030. The market is growing at a CAGR of 7.2% during the forecast period (2023-2030).
An electrophysiological examination of the retina, the layer of the eye that detects light, is known as electroretinography. A plethora of objective, important knowledge regarding retinal function and health is available via electroretinography. ERG fuels research into the variables that affect the health of the retina or the visual pathways and is crucial in the diagnosis of inherited and acquired eye illnesses.
Metrics |
Details |
CAGR |
7.2% |
Size Available for Years |
2021-2030 |
Forecast Period |
2023-2030 |
Data Availability |
Value (US$) |
Segments Covered |
Type, Product, Application and Region |
Regions Covered |
North America, Europe, Asia-Pacific, South America and Middle East & Africa |
Fastest Growing Region |
North America |
Largest Region |
Asia Pacific |
Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
In the developing world, retinal disorders constitute a growing factor in visual impairment. Globally, retinal disorders play a significant role in ocular morbidity and visual impairment. The most frequent cause of permanent blindness in the elderly is age-related macular degeneration (AMD), and in industrialized nations, the most frequent cause of blindness in people in their working years is diabetic retinopathy (DR). In the developing world, retinal disorders are a growing cause of blindness. Systemic disorders including diabetes mellitus and hypertension as well as longer life expectancies and altered lifestyles are important causes.
For instance, the Prevalence statistics for the most prevalent eye conditions and diseases are provided by the Centers for Disease Control and Prevention (CDC). Refractive errors are the most typical eye diseases in the US. In adults, age-related macular degeneration is a primary factor in blindness. Large drusen deposits growing could make macular degeneration more likely. Over 12 million adults in the United States who are 40 years of age and older have vision impairment, and nearly a million of them are blind. Around 2.2 billion individuals worldwide have eye and visual issues, according to reports from the World Health Organization, which confirms comparable findings. Due to the rise in retinal illnesses, which fuels the market.
Since wealthy patients are frequently unable to access diagnostic tests, the market is harmed. The cost forecasts were computed using hospital data, national labor data, and government insurance reimbursement. The anticipated total cost of testing over a three-year period was $114 962, or $1716 per patient. The cost of the tests and procedures will also hamper the market.
The global Electroretinography market is segmented based on type, product, application, and region.
Based on product, the global Electroretinography market is segmented into fixed ERG machines and portable ERG machines. Among these, when compared to permanent devices, portable EGR machines are lightweight and can be moved more easily. Yet, the majority of portable equipment is less functional and has inferior to fixed equivalents.
They are ideal for mobile clinics and hospitals that operate in areas without a stable infrastructure. For instance, Early glaucoma detection is crucial, although it may be difficult due to media opacity or incorrect subjective testing. A new test is now available for physicians who are interested in employing electrodiagnostic testing to obtain objective results.
The electroretinography (ERG) measurement of the photopic negative response (PhNR) enables the examination of retinal ganglion cell activity. If the patient is thinking about adopting LKC Technologies' RetEval portable ERG, they should be aware that a new protocol has been added that brings PhNR to the device. The portable sector dominates the market due to its novel features.
Source: DataM Intelligence Analysis (2023)
North America has established itself as the dominant market participant in the Electroretinography market. The North American market, which benefits from a number of favorable aspects like the prevalence of glaucoma condition, the presence of significant competitors, and technological innovation, contributes the greatest share to the electroretinography market with a high compound annual growth rate globally.
The glaucoma condition damages the eye's optic nerve. A layer of fluid on the outside of the eye develops an issue when it swells, creating pressure and injuring the optic nerves as a result. Blindness typically follows glaucoma-related vision loss. The World Health Organization estimates that glaucoma is to blame for the blindness of 4.5 million people worldwide. Glaucoma, which results in blindness, affects about 120,000 Americans, or 9% to 12% of all instances of blindness. The group most susceptible to glaucomatous visual loss is people over the age of 60. But, if vision loss is detected and treated quickly, it can be avoided.
Source: DataM Intelligence Analysis (2023)
The major global players include Electro-Diagnostic Imaging, Inc., Roland Consult Stasche & Finger GmbH, Diagnosys LLC, Konan Medical USA, Inc., CSO Italia, LKC Technologies, Inc, Welch Allyn, Diopsys, Inc., Metrovision, Costruzione Strumenti Oftalmici.
Why Purchase the Report?
The global Electroretinographymarketreport would provide approximately 53 tables, 54 figures, and 195 Pages.
Target Audience 2023