Electroretinography Market Ongoing Trends and Recent Development and Growth Till 2027

Global electroretinography market, based on product was segmented as, fixed and portable electroretinography. In 2018, the fixed electroretinography held the largest share of the market, by product. However, the portable electroretinography segment is expected to grow at a significant rate during the forecast period. Portable device is expected to witness increased growth during the coming years, since it causes limited discomfort to the patient along with better results.

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The key players influencing the market are:

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

The market for electroretinography is expected to grow due are rising prevalence of glaucoma among individuals and increasing cases of eye disorders in developed economies. In addition the growing geriatric population worldwide is likely to have a positive impact on the growth of the market in the coming years.

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.

Product Insights

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.

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This release was published on openPR.