Electroretinography Market to Grow at 6.7% CAGR to Reach $62.72 Million by 2027 Led by Diopsys, Metrovision, Konan Medical USA, Welch Allyn, Costruzione Strumenti Oftalmici, LKC Technologies, Diagnosys, Electro-Diagnostic Imaging, Roland Consult Stasche &
The global electroretinography market accounted to US$ 35.79 Mn in 2018 and is expected to grow at a CAGR of 6.7% during the forecast period 2019 – 2027, to account to US$ 62.72 Mn by 2027.
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Europe is the second largest growing geographic market and it is expected to be the second largest revenue contributor throughout the forecast period. Europe is recognized as a developed market for the medical devices. The growth is driven by the factors such as rising prevalence of eye disorders in the region, along with the availability of advanced technologies for the diagnosis and the treatment of these eye disorders.
Market Insights: Rising Prevalence of Eye Diseases in Developing and Developed Nations
The prevalence of diabetes retinopathy, cataract, conjunctivitis, retinal disorders and age-relate macular degeneration are said to increase with the rising ageing population. In addition, findings also reveals that children are also more prone to develop eye disorders such as glaucoma, conjunctivitis and night blindness among others. Vision loss due to eye diseases is a major health problem, which immensely affects the quality of life.
In 2015, across the globe approximately 34.3 million people were registered as blind, an additional around 24.3 million had severe vision impairment, 214 million had moderate vision impairment, and 663 million had near vision impairment. Vision loss is the third largest cause of impairment after anaemia and hearing loss. Cataract is the other most commonly observed eye disorder that is found in the developing nations were the access to the qualified professionals are less. Therefore, the cataract is responsible for more than 50% of the cases of blindness in some of the areas which is likely to increase the demand for the ophthalmologists to grow. Thus, owing to the above mentioned factors the market for the electroretinography is likely to grow in the coming future.
Healthcare Market Across the Globes Owes Growth Opportunities:
The rise in the prevalence of the vision impairment and other eye diseases are leading to the increasing number of patients for diagnosis and treatments. The rise in the diagnosis and treatments are rowing due to the rising awareness and change in the healthcare facilities and services. The technological advancements are driving more research and developments across the medical device industries. Owing to the advancement in the medical device industry, the healthcare industry has witnessed significant growth due to transformations during the last few years.
Various technological advancements have been witnessed in the industry such as, scalp cooling technology, wearable contacts and use of 3D visualization for surgeries. Countries across the globe have been preferring advanced technologies in healthcare. With a need for better healthcare facilities, Technology-Enabled Care (TEC) solutions are being preferred to in the healthcare systems in the emerging economies. The increase in ageing population, incidences of chronic illnesses and pediatric care are the primary factors driving the growth of healthcare sector.
The global electroretinography market by product was led by fixed electroretinography segment. In 2018, the fixed electroretinography held a largest market share of 55.35% of the electroretinography market, by product. However, the portable electroretinography segment is expected to be the fastest growing segments the market in 2027 owing to ease in analysis of the results obtained as well as, limited discomfort caused to the patients during the test as compared to the fixed electroretinography.
The global electroretinography market by application segment was led by clinical. In 2018, the clinical held a largest market share of 79.2% of the electroretinography market, by application. The clinical segment is also expected to dominate the market in 2027. The prevalence of eye disorders on a large scale is expected to be a vital factor driving the growth of the segment during the forecast period.
Product launches were observed as the most adopted strategy in global electroretinography industry by the market players. For instance, Diopsys, Inc. launched two new additions to its portfolio at the American Society of Cataract and Refractive Surgery (ASCRS) meeting: the Diopsys Retina Plus, an advanced flicker electroretinography (ERG) system scalable to create a complete visual electrophysiology suite; and a multifocal electroretinography (mfERG) module for use with Diopsys NOVA, Diopsys ARGOS, or the new Retina Plus platforms. These innovative launches made by the company help in strengthening their market position as compared to other players operating in the market.
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ELECTRORETINOGRAPHY – MARKET SEGMENTATION
• Fixed Electroretinography
• Portable Electroretinography
• North America
• Asia Pacific (APAC)
• South Korea
• Middle East & Africa (MEA)
• Saudi Arabia
• South Africa
• South America (SAM)
• LKC Technologies, Inc
• Diagnosys LLC
• Electro-Diagnostic Imaging, Inc.
• Diopsys, Inc.
• Roland Consult Stasche & Finger GmbH
• Costruzione Strumenti Oftalmici
• Konan Medical USA, Inc.
• Welch Allyn
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Few Points from the Table of Content:
2. GLOBAL ELECTRORETINOGRAPHY MARKET – KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. GLOBAL ELECTRORETINOGRAPHY MARKET – MARKET LANDSCAPE
5. GLOBAL ELECTRORETINOGRAPHY MARKET – KEY INDUSTRY DYNAMICS
6. ELECTRORETINOGRAPHY MARKET – GLOBAL ANALYSIS
7. GLOBAL ELECTRORETINOGRAPHY MARKET ANALYSIS – BY PRODUCT
8. GLOBAL ELECTRORETINOGRAPHY MARKET ANALYSIS – BY APPLICATION
9. ELECTRORETINOGRAPHY MARKET REVENUE AND FORECASTS TO 2027 – GEOGRAPHICAL ANALYSIS
10. ELECTRORETINOGRAPHY MARKET – INDUSTRY LANDSCAPE
11. ELECTRORETINOGRAPHY MARKET –KEY COMPANY PROFILES
11.1 LKC TECHNOLOGIES, INC
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Financial Overview
11.1.4 Product Portfolio
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 DIAGNOSYS LLC
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Financial Overview
11.2.4 Product Portfolio
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 ELECTRO-DIAGNOSTIC IMAGING, INC.
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Financial Overview
11.3.4 Product Portfolio
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 DIOPSYS, INC.
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Financial Overview
11.4.4 Product Portfolio
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 ROLAND CONSULT STASCHE & FINGER GMBH
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Financial Overview
11.5.4 Product Portfolio
11.5.5 SWOT Analysis
11.5.6 Key Developments
Key Benefits of Buying this Research Study:
1. Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Electroretinography Market
2. Highlights key business priorities in order to assist companies to realign their business strategies
3. The key findings and recommendations highlight crucial progressive industry trends in the Electroretinography Market, thereby allowing players across the value chain to develop effective long term strategies
4. Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
5. Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
6. Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
7. Examine the political, economic, social and technology impact of the five regions namely: North America, Europe, Asia Pacific, Middle East & Africa and South America.
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