Visual electrophysiology is a procedure that involves the recording of the several electrical signals that come from the brain, optic nerve, and eye which is in response to the visual stimuli. This technology has quickly become famous all over the world in the ophthalmologist community. Though training the ophthalmologist of this new technology remains a constraint, it is rapidly being adapted all over the world.
Market Drivers and Restraints
Visual Electrophysiology Market Segmentation Analysis
Based on the test type, electroretinogram (ERG) is used most widely and has the largest market share during the forecast period. An ERG is advantageous in evaluating both hereditary and acquired disorders of the retina. The diagnoses commonly suspect the predominant conditions of the retina including retinitis pigmentosa, retinitis pigmentosa sine pigment, choroideremia, achromatopsia, and congenital stationary night blindness. The increasing government initiatives for the early diagnosis and treatment of visual and neurological disorders in the advanced economies are expected to upsurge the overall visual electrophysiology testing device market.
Based on Modality, Fixed visual electrophysiology has way higher market share and it is projected to remain so in the forecast period. It is because the machine is heavy and eye care is not an emergency situation so people prefer to go to clinics and hospitals in their time of appointment with the doctor.
Based on the end-user, hospitals have the highest market share followed by clinics. This is mainly because hospitals have higher disposable money to acquire new machinery. Many hospitals have their R&D department so they are better in sync with the latest technologies and training their doctors.
Visual Electrophysiology Market Geographical Analysis
North America and Western Europe are the biggest markets for visual Electrophysiology in 2018 and is expected to remain so during the forecast period. This is because of the high cost of equipment and the technology involved being relatively new, countries with people having higher disposable income are only adapting these technologies quickly.
In terms of the growth rate, the APAC region leads the pack. Japan and China lead the market share in the APAC region during the forecast period. Improving economic conditions and increasing disposable income in APAC will see a sharp rise in visual electrophysiology market in China, India, and Indonesia.
Visual Electrophysiology Market Key Players
Konan Medical USA, Inc., Diopsys, Inc, Nationwide Children's Hospital, LKC Technologies, Inc., Metrovision are some of the key players in the market.
In recent research, nanoparticles were injected in the mouse’s retina which enabled it to see near-infrared (near-IR) light at about half the resolution of visible light. This research has the potential to change visual electrophysiology in the coming years.
Visual Electrophysiology Market Report Key Highlights
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 Visual Electrophysiology Market, By Product Type (2018-2023)
4.1.4 Year-on-Year Trends
4.1.5 Opportunity Index
4.2 Visual Electrophysiology Market, By Test Type (2018-2023)
4.2.2 Electro-oculogram (EOG)
4.2.3 Electroretinogram (ERG)
4.2.4 Visual-evoked responses (EVR)
4.2.5 Multifocal Electroretinogram (mfERG)
4.2.6 Year-on-Year Trends
4.2.7 Opportunity Index
4.3 Visual Electrophysiology Market, By Channel (2018-2023)
4.3.3 Ophthalmic Clinics/Visual Electrophysiology Laboratory
4.3.4 Ambulatory Surgical Centres
4.3.6 Year-on-Year Trends
4.3.7 Opportunity Index
5. Geographical Landscape
5.1 Global Scenario
5.2 North America Visual Electrophysiology Market (2018-2023)
5.1.2 United States
5.2 Europe Visual Electrophysiology Market (2018-2023)
5.2.6 Rest of Europe
5.3 Asia-Pacific Visual Electrophysiology Market (2018-2023)
5.3.6 South Korea
5.3.6 Rest of Asia-Pacific
5.4 Latin America Visual Electrophysiology Market (2018-2023)
5.4.5 Rest of Latin America
5.5 Middle East & Africa Visual Electrophysiology Market (2018-2023)
5.5.4 South Africa
5.5.5 GCC Countries
6. Key Player Analysis
6.2 Konan Medical USA, Inc.
6.3 Diopsys, Inc, Nationwide Children's Hospital
6.4 LKC Technologies, 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