Electroretinography Market

Electroretinography Market Size & Growth (2019 - 2024)

The size of the Global Electroretinography Market is expected to expand at a CAGR of 7.2% from 2019 to 2024.

Electroretinography is the study of electrical impulses sent by the retina in response to light. Electroretinogram is an eye test that tries to detect the abnormalities in the functioning of the retina. The retina is the innermost light-sensitive layer of cells that translates images into electrical impulses for the brain to create visual perception. The retina is comprised of many layers of cells with varied functionalities and purposes that coordinate with each other to make image recognition possible. There are photoreceptor cells (rods and cones) that detect light and transmit signals to intermediary cells (Muller cells and bipolar cells) and finally, the Ganglion cells transmit the impulses that are recorded by the brain as images. In this test, an electrode in the form of a thin wire or a contact lens is placed on the cornea(front part) of the eye after dilating the eyes of the patient and anesthetizing him/her. This electrode will register the electrical impulses while the eyes are subjected to various image and light inputs. This will help the physicians calibrate the exact nature of the retinal defect and prescribe the appropriate course of action.

There is a general growth in the medical and healthcare sector due to the increasing levels of around the world. Developed nations like Japan, Germany, Italy, Finland, and other European countries have an increasingly older demographic. Due to this population reason, many of these nations have resorted to importing younger people from less developed nations to balance the lack of taxpayers. This simultaneous rise in population due to immigration and an increase in the elderly population in these nations is expected to drive the healthcare sector and also the Electroretinography market. With the rapid industrialization and urbanization of many Asian economies, a number of people have jobs that are paying much more than they did a few decades ago. This increase in income has contributed to people being able to access better healthcare facilities for themselves and their loved ones. With the one-child policy of China, many young Chinese families have four parents and eight grandparents to take care of. With increased health complications due to old age, the market for Electroretinography seems to be very promising in China as well. Countries like India, Malaysia, Indonesia, Taiwan, and Australia are also anticipated to be key markets for electroretinography due to their burgeoning economies and growing populations.

However many people around the world are still stuck in abject poverty and cannot afford quality healthcare. Prohibitive pricing of diagnostic testing in many countries hurts the market by access to richer patients. Lack of awareness among people and the inability to afford the treatment are two main factors restraining the growth of the Electroretinography market.

Recent Key Happenings in this Market in the Recent Past:

• Scientists from Peking University, Beijing created a soft Graphene Contact lens Electrode (GRACEs) that addressed the problems of patient discomfort due to hard electrodes, limited types of electroretinograms with a single type of electrode, reduced signal amplitudes and stability, and excessive eye movement. They made sure that the lens did not have any wrinkles by growing it on curved quartz molds.
• Pattern Electroretinography was shown to be a very effective tool for evaluating patients with early-stage Glaucoma particularly Glaucoma suspects. According to the latest article published by the authors Porciatti and Ventura in Current Ophthalmology Reports, the Pattern Electroretinography of the patients at risk of progression from suspected to manifest glaucoma reveal alterations in signal even before they start to lose visual field and optic nerve tissue.
• A new technique invented by a team of researchers from the University of Bradford, UK lead by Dr. Declan McKeefry was able to 'silence' the L- and M-cones and the rods so only the signals from the S-cones are picked up by using stimuli at different wavelengths. This novel method addresses the shortcomings of the normal Electroretinography method that cannot distinguish between the different types of cones. Machines that integrate this facility can break ground into a virgin market.

REPORT COVERAGE:

The Global Electroretinography Market can be segmented on the basis of Product, Industry, and Geography.

Electroretinography Market Analysis – By Product Type:

• Portable ERG Machines
• Fixed ERG Machines

On the basis of product type, the Fixed ERG machines segment offers a full range of functionality in exchange for ease of movement and portability. These machines are suitable for large multi-specialty and single-specialty hospitals that can attract a large number of patients. Portable EGR machines are easy to carry and can be transported with the ease that is not possible with the fixed machines. However, most portable machines are not as good as fixed alternatives and have reduced functionality. These are most suitable for clinics and mobile hospitals that operate in regions that lack permanent infrastructure facilities. Since both the machines have different clientele they both have steady markets with healthy growth rates.

Electroretinography Market Analysis – By End Use:

• Clinical Use
• Research Use

While the machines are mostly used on humans in Clinical medicine, the research sector makes use of multiple animal species for understanding the structure eye and for developing new techniques and procedures. The machines used in research, as a result, are also quite different from their clinical brethren. Primates, Rodents and other small animals are routinely used in laboratories for research purposes.

Electroretinography Market Analysis – By Region:

• North America - US, Canada, Mexico and Rest of North America
• Europe - UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic and Rest of Europe
• APAC - India, China, Japan, South Korea,  Australia, New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore and Rest of APAC
• Latin America - Brazil, Argentina, Chile and Rest of Latin America
• Middle East and Africa -  KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA

North America and Europe are currently the largest markets for Electroretinography, with the rising population levels and decreasing unemployment in the countries in these regions the market has a bright future. The region of Asia Pacific is anticipated to grow with the highest CAGR during the upcoming years. This can be attributed to the region’s large population and growing economy.

List of key competitors leading the Global Electroretinography Market profiled in this report are:

• Konan Medical
• CSO Italia
• Diagnosys LLC
• LKC Technologies Inc.
• Electro-Diagnostic Imaging Inc.
• Roland-consult
• Diopsys Inc.
• Metrovision
• Others