Global Electroretinography Market - 2023-2030

Market Overview

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).

A diagnostic procedure called an electroretinogram (ERG) examines the retina's electrical reaction to a light stimulus. In addition to input from retinal glia, currents produced directly by retinal neurons are the source of the ERG. It's significant because the ERG is a reliable, non-invasive way to monitor retinal function in physiological settings. ERGs are frequently captured with the aid of a corneal contact lens electrode or a thin fiber electrode that is placed in contact with the cornea. These electrodes enable the ocular surface to record the electrical activity produced by the retina.

Market dynamics

Rising prevalence of retinal diseases

Market growth is predicted to increase with an increase in retinal disorders. For instance, over the forecast period, it is anticipated that the increased prevalence of retinal illnesses will fuel market expansion. For instance, 7.7 million people have diabetic retinopathy, according to the National Eye Institute. This figure is projected to rise to 11.3 million by the year 2030. Around 45% of patients with diabetes get diabetic retinopathy to some extent. Diabetic macular edema is the most typical type of diabetic retinopathy (DME). According to JAMA Ophthalmology, 745,000 Americans have DME.

For instance, according to the NCBI in 2020, the prevalence of retinal problems in persons over 40 ranges from 5.35% to 21.02%. While they are asymptomatic until the later stages of the disease, retinal diseases are the most frequent cause of irreversible blindness in affluent countries.

The high cost of treatment will hamper the growth of the market.

The market is hampered because wealthy patients typically cannot get diagnostic tests. Using hospital data, national labor statistics, and government insurance reimbursement, the cost projections were created.

COVID-19 Impact Analysis

Following the pandemic, the worldwide electroretinography market is anticipated to expand significantly. Due to lockdowns, travel restrictions, and business closures, the COVID-19 has had an impact on the economies and industries of many different nations. The COVID-19 problem has put an excessive strain on public health systems in several nations and emphasized the critical need for long-term investments in healthcare infrastructure. The healthcare sector's development is anticipated to slow as the COVID-19 pandemic spreads. The life sciences sector is thriving as a result of expanding global demand for in vitro diagnostic goods and R&D activity.

Yet, the medical technologies and imaging market is experiencing a decline in revenues as a result of fewer operations being performed and postponed or delayed equipment procurement. Also, after the pandemic, it is anticipated that virtual consultations between medical professionals will replace in-person consultations. Digital health will flourish in the years to come as telehealth transforms the way that healthcare is delivered.

Segment Analysis

The global Electroretinographymarket is segmented based type, Type, application and region.

The full-field flash ERG (ffERG) segment is anticipated to register the highest growth rate.

All through the projected period, the full-field flash ERG (ffERG) segment is anticipated to register the highest CAGR. The retina's mass response, known as the Full-field flash ERG (ffERG), is the aggregate of responses from different retinal sources. This is helpful for conditions like rod/cone dystrophies, cancer-associated retinopathy, and toxic retinopathies that cause widespread retinal impairment. It's important to note that the ffERG is ineffective for identifying tiny retinal lesions. The strength of the stimulus flash and the degree of adaptation both affect the components of the ffERG waveform and their underlying origins.

ffERG is an effective instrument to identify retinal pathology, track the level of retinal malfunction, and evaluate the effects of medical treatment on the retina in a clinical context. The examination of conditions including diabetic retinopathy, glaucoma, and retinitis pigmentosa, as well as the detection of toxic medication effects on the retina before serious, vision-threatening damage is done, have all been made possible by the use of ffERGs. The segment dominates the market because of the features.

Geographical Analysis

Rapid advancements in healthcare infrastructure drives the market

The market for electroretinography in North America is anticipated to have significant expansion over the ensuing years due to the region's high prevalence of retinal illnesses, expanding healthcare industry, and supportive governmental regulations.

For instance, around three million Americans, or 1% of the population, have glaucoma, according to the CDC 2021. This number is projected to rise as the American population ages; glaucoma is the third most common cause of blindness globally, contributing to up to 14% of the total number of blind people.

Optometrists and their colleagues will surely work to enhance and expand the range of services provided to glaucoma patients as the prevalence of the disease rises. We polled 667 optometrists in May 2021 to find out more about their methods for diagnosing, treating, and managing glaucoma. According to the respondents, 18% of their patients had glaucoma diagnoses, a disparity that only serves to highlight how crucial eyecare has become for the aging US population.

Competitive Landscape

The major global players 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?

• To visualize the global Electroretinography market segmentation based on Type, Product, Application and region,as well as understandkey commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of Electroretinography market-level with all segments.
• PDF report consists of a comprehensiveanalysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key Types of all the major players.

The global Electroretinography market report would provide approximately 61 tables,62figures and 195 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Emerging Companies