The global electroretinography market is expected to grow at a CAGR of 7.2% from 2023 to 2030, reaching a value of US$ 93.52 million by 2030. The market is being driven by the rising prevalence of retinal disorders, the increasing demand for minimally invasive diagnostic procedures, and the development of new and innovative ERG technologies.

Electroretinography (ERG) is a diagnostic procedure that measures the electrical activity of the retina. It is used to diagnose, monitor, and manage a variety of retinal disorders, including retinitis pigmentosa, macular degeneration, and diabetic retinopathy.

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A diagnostic procedure called an electroretinogram (ERG) examines the retina's electrical reaction to a light stimulus. In addition to input from retinal glia, currents produced directly by retinal neurons are the source of the ERG. It's significant because the ERG is a reliable, non-invasive way to monitor retinal function in physiological settings. ERGs are frequently captured with the aid of a corneal contact lens electrode or a thin fiber electrode that is placed in contact with the cornea. These electrodes enable the ocular surface to record the electrical activity produced by the retina.

The electroretinography market is expected to continue to grow in the coming years, driven by the factors mentioned above. The development of new technologies, such as multifocal ERG devices, is also expected to drive market growth.

Market Drivers:

  • Rising prevalence of retinal disorders: Retinal disorders are a leading cause of blindness worldwide, and their prevalence is expected to increase in the coming years due to an aging population and increasing rates of diabetes.
  • Increasing demand for minimally invasive diagnostic procedures: ERG is a non-invasive procedure that is well-tolerated by patients, which makes it an attractive option for diagnosing retinal disorders.
  • Development of new and innovative ERG technologies: New ERG technologies are being developed that are more accurate, faster, and easier to use.

Key Takeaways:

  • The global electroretinography (ERG) market is expected to reach US$ 93.52 million by 2030, growing at a CAGR of 7.2% from 2023 to 2030.
  • The increasing prevalence of retinal diseases, such as diabetic retinopathy and macular degeneration, is driving the growth of the market.
  • Technological advancements, such as the development of multifocal ERG and mobile ERG devices, are also contributing to market growth.
  • North America is the largest market for ERG devices, followed by Europe and Asia Pacific.

Regional Outlook:

  • North America is the largest market for ERG devices, accounting for over 40% of the global market share. This is due to the high prevalence of retinal diseases in the region, as well as the presence of a large number of ophthalmologists and optometrists.
  • Europe is the second largest market for ERG devices, followed by Asia Pacific. The market in Asia Pacific is expected to grow at the fastest CAGR during the forecast period, due to the increasing prevalence of retinal diseases and the growing adoption of ERG devices in the region.

Key Players:

The key players in the ERG market include LKC Technologies, Diagnosys, Topcon Healthcare, RETeval, and Nidek. These companies offer a variety of ERG devices, including multifocal ERG and mobile ERG devices.

Market Segmentation:

The electroretinography market can be segmented by product type, application, end user, and region.

Product Type:

  • Multifocal ERG
  • Full-field ERG
  • Pattern ERG

Application:

  • Diagnosis of retinal disorders
  • Monitoring of retinal disorders
  • Management of retinal disorders

End User:

  • Hospitals
  • Clinics
  • Ambulatory surgical centers
  • Research institutions

Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa