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:
Market Size Available
2018 – 2024
2019 - 2024
By Product Type, End Use and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, APAC, Latin America, Middle East & Africa
Market Leaders Profiled
Konan Medical, CSO Italia, Diagnosys LLC, LKC Technologies Inc, Electro-Diagnostic Imaging Inc., Roland-consult, Diopsys Inc., Metrovision among others.
The Global Electroretinography Market can be segmented on the basis of Product, Industry, and Geography.
Electroretinography Market Analysis – By Product Type:
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:
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 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:
1.1 Scope of the report
1.2 Report Objectives
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 PEST Analysis
3.2 Drivers, Restraints, Opportunities
4. Market Classification
4.1 Electroretinography Market, By Product Type (2018-2023)
4.1.4 Year-on-Year Trends
4.1.5 Opportunity Index
4.2 Electroretinography Market, By End Use (2018-2023)
4.2.2 Clinical Use
4.2.3 Research Use
4.2.4 Year-on-Year Trends
4.2.5 Opportunity Index
5. Geographical Landscape
5.1 Global Scenario
5.2 North America Electroretinography Market (2018-2023)
5.1.2 United States
5.2 Europe Electroretinography Market (2018-2023)
5.2.6 Rest of Europe
5.3 Asia-Pacific Electroretinography Market (2018-2023)
5.3.6 South Korea
5.3.6 Rest of Asia-Pacific
5.4 Latin America Electroretinography Market (2018-2023)
5.4.5 Rest of Latin America
5.5 Middle East & Africa Electroretinography Market (2018-2023)
5.5.4 South Africa
5.5.5 GCC Countries
6. Key Player Analysis
6.1 Konan Medical
6.2 CSO Italia
6.3 Diagnosys LLC
6.4 LKC Technologies, Inc.
6.5 Electro-Diagnostic Imaging Inc
6.7 Diopsys Inc.
7. Competitive Analysis
7.1 Market share analysis
7.2 Product Landscape
7.3 Regional Landscape
7.4 Operations Landscape
8. Key Developments
8.1 New Product Launches
8.2 Merger and Acquisition Analysis
8.3 Agreements & collaborations
8. Industry Outlook
a) List of Tables
b) List of Figures