The global electroretinogram market size was estimated to be USD 0.652 billion in 2023 and is expected to reach at USD 1.63 billion by 2034 with a CAGR of 8.69% during the forecast period 2024-2034. Continuous advancements, an increase in the establishment of ophthalmology clinics & research centers, a growing incidence of eye conditions like diabetic retinopathy, glaucoma, retinitis pigmentosa, macular degeneration, cone-rod dystrophy, & other associated retinal disorders, a rising inclination towards early disease detection, elevated screen time, increasing elderly population, and surge in introduction of state-of-the-art electroretinogram platforms are among the key factors propelling market growth.
Surge in introduction of state-of-the-art electroretinogram platforms is predicted to boost the market growth during the forecast period. The Electroretinogram (ERG) is a diagnostic test employed in clinical ophthalmology to assess the retina's electrical activity in response to light stimulation. The electroretinogram originates from currents produced by retinal neurons, complemented by contributions from retinal glia. Ophthalmologists utilize these electroretinograms to assess the necessity for retinal surgery or other eye procedures like cataract surgery. It serves as a diagnostic tool for patients experiencing symptoms such as sensitivity to light, night blindness, diminished visual acuity, and field defects. For instance, in August 2023, During the 41st European Society of Cataract and Refractive Surgeons (ESCRS) congress held from September 8-12, 2023, Johnson & Johnson Vision introduced the ELITA Platform. This advanced laser vision correction solution has received 510(k) approval in the United States specifically for FLAP procedures.
By type, full-field flash ERG (ffERG) was the highest revenue-grossing segment in the global electroretinogram market in 2023 owing to the increasing favor of the utilization of full-field flash Electroretinogram (ffERG) by healthcare professionals. This method, known for its accuracy and widespread use, offers a comprehensive evaluation of overall retinal function. It can differentiate between different cell types, assess both right and left eyes, and reveal functional variations indicative of systemic conditions or advanced degeneration. For instance, in July, 2022, LKC Technologies, a global leader in electroretinography devices, has revealed the hiring of two experienced professionals as part of its strategy to enhance its presence in the optometric sector in the United States. With over 2,000 LKC handheld RETeval devices currently in operation worldwide, the company is gearing up to introduce these devices to optometric practitioners. This initiative aims to assist in the diagnosis and management of conditions that can lead to vision impairment. Additionally, multifocal ERG (mfERG) is predicted to grow at the fastest CAGR during the forecast period owing to the benefits of multifocal Electroretinogram (mfERG) are on the rise. This technique enables clinicians to assess the retinal response from numerous segments across the retina. The multifocal ERG holds significance in clinical applications, as it is effective in identifying abnormalities in specific regions. It serves as a valuable tool for separately evaluating central and peripheral retinal functions.
By product, tabletop was the highest revenue-grossing segment in the global electroretinogram market in 2023 owing to a significant emphasis by companies on the creation of tabletop devices in response to growing market demand. Tabletop electroretinograms, a conventional type of non-invasive device, are designed to gauge the retina's electrical activity in reaction to light stimuli. Research indicates that eye diagnoses performed with tabletop electroretinogram devices are more precise and accurate compared to other devices. Additionally, handheld electroretinogram devices is predicted to grow at the fastest CAGR during the forecast period owing to numerous companies are actively engaged in the research and development as well as the manufacturing of handheld and portable ERG machines. These portable devices are characterized by their lightweight nature and ease of portability. For instance, in January 2022, LKC Technologies is excited to introduce an upgraded PhNR protocol for their RETeval Device, the sole fully portable full-field ERG non-mydriatic testing device that has received FDA clearance.
By application, clinical diagnostic was the highest revenue-grossing segment in the global electroretinogram market in 2023 owing to the growing incidence of eye disorders, heightened attention to early disease detection, and an upsurge in the number of patients visiting eye clinics and ophthalmology centers. Additionally, research is predicted to grow at the fastest CAGR during the forecast period owing to the number of research activities is on the rise, supported by an increase in government funding for research and development, and a growing trend of collaborations among market players. For instance, in June 2023, DW Healthcare Partners, a private equity firm specializing in healthcare, has successfully concluded its investment in LKC Technologies, Inc. LKC is a manufacturer of electrophysiology testing devices that assist in diagnosing and managing retinal and optic nerve diseases, including conditions like diabetic retinopathy and glaucoma.
North America region is anticipated for the highest revenue share during the forecast period owing to the expanding elderly population, heightened occurrence of eye disorders, a growing number of regulatory approvals, increased investments in research and development, a rising trend in favor of embracing innovative products, and an increase in mergers & acquisitions among industry participants. For instance, in march 2022, LumiThera Inc., a medical device company in the commercial stage providing photobiomodulation (PBM) treatment for ocular damage and disease, has successfully finalized the acquisition of Diopsys, Inc. Diopsys is a prominent provider of contemporary visual electrophysiology medical devices that assist eye care professionals in analyzing the complete visual pathway for visual and neuro-visual disorders. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the widespread acceptance of cutting-edge technologies, the existence of a significant elderly demographic, an escalating incidence of chronic conditions like diabetes, heightened awareness about eye disorders, and a surge in the rollout of state-of-the-art systems. For instance, in October 2023, Baxter has introduced the iExaminer Pro system, which enables the digital capture of images for eye examinations through its current ophthalmoscope.
Surge in introduction of state-of-the-art electroretinogram platforms is predicted to boost the market growth during the forecast period. The Electroretinogram (ERG) is a diagnostic test employed in clinical ophthalmology to assess the retina's electrical activity in response to light stimulation. The electroretinogram originates from currents produced by retinal neurons, complemented by contributions from retinal glia. Ophthalmologists utilize these electroretinograms to assess the necessity for retinal surgery or other eye procedures like cataract surgery. It serves as a diagnostic tool for patients experiencing symptoms such as sensitivity to light, night blindness, diminished visual acuity, and field defects. For instance, in August 2023, During the 41st European Society of Cataract and Refractive Surgeons (ESCRS) congress held from September 8-12, 2023, Johnson & Johnson Vision introduced the ELITA Platform. This advanced laser vision correction solution has received 510(k) approval in the United States specifically for FLAP procedures.
By type, full-field flash ERG (ffERG) was the highest revenue-grossing segment in the global electroretinogram market in 2023 owing to the increasing favor of the utilization of full-field flash Electroretinogram (ffERG) by healthcare professionals. This method, known for its accuracy and widespread use, offers a comprehensive evaluation of overall retinal function. It can differentiate between different cell types, assess both right and left eyes, and reveal functional variations indicative of systemic conditions or advanced degeneration. For instance, in July, 2022, LKC Technologies, a global leader in electroretinography devices, has revealed the hiring of two experienced professionals as part of its strategy to enhance its presence in the optometric sector in the United States. With over 2,000 LKC handheld RETeval devices currently in operation worldwide, the company is gearing up to introduce these devices to optometric practitioners. This initiative aims to assist in the diagnosis and management of conditions that can lead to vision impairment. Additionally, multifocal ERG (mfERG) is predicted to grow at the fastest CAGR during the forecast period owing to the benefits of multifocal Electroretinogram (mfERG) are on the rise. This technique enables clinicians to assess the retinal response from numerous segments across the retina. The multifocal ERG holds significance in clinical applications, as it is effective in identifying abnormalities in specific regions. It serves as a valuable tool for separately evaluating central and peripheral retinal functions.
By product, tabletop was the highest revenue-grossing segment in the global electroretinogram market in 2023 owing to a significant emphasis by companies on the creation of tabletop devices in response to growing market demand. Tabletop electroretinograms, a conventional type of non-invasive device, are designed to gauge the retina's electrical activity in reaction to light stimuli. Research indicates that eye diagnoses performed with tabletop electroretinogram devices are more precise and accurate compared to other devices. Additionally, handheld electroretinogram devices is predicted to grow at the fastest CAGR during the forecast period owing to numerous companies are actively engaged in the research and development as well as the manufacturing of handheld and portable ERG machines. These portable devices are characterized by their lightweight nature and ease of portability. For instance, in January 2022, LKC Technologies is excited to introduce an upgraded PhNR protocol for their RETeval Device, the sole fully portable full-field ERG non-mydriatic testing device that has received FDA clearance.
By application, clinical diagnostic was the highest revenue-grossing segment in the global electroretinogram market in 2023 owing to the growing incidence of eye disorders, heightened attention to early disease detection, and an upsurge in the number of patients visiting eye clinics and ophthalmology centers. Additionally, research is predicted to grow at the fastest CAGR during the forecast period owing to the number of research activities is on the rise, supported by an increase in government funding for research and development, and a growing trend of collaborations among market players. For instance, in June 2023, DW Healthcare Partners, a private equity firm specializing in healthcare, has successfully concluded its investment in LKC Technologies, Inc. LKC is a manufacturer of electrophysiology testing devices that assist in diagnosing and managing retinal and optic nerve diseases, including conditions like diabetic retinopathy and glaucoma.
North America region is anticipated for the highest revenue share during the forecast period owing to the expanding elderly population, heightened occurrence of eye disorders, a growing number of regulatory approvals, increased investments in research and development, a rising trend in favor of embracing innovative products, and an increase in mergers & acquisitions among industry participants. For instance, in march 2022, LumiThera Inc., a medical device company in the commercial stage providing photobiomodulation (PBM) treatment for ocular damage and disease, has successfully finalized the acquisition of Diopsys, Inc. Diopsys is a prominent provider of contemporary visual electrophysiology medical devices that assist eye care professionals in analyzing the complete visual pathway for visual and neuro-visual disorders. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the widespread acceptance of cutting-edge technologies, the existence of a significant elderly demographic, an escalating incidence of chronic conditions like diabetes, heightened awareness about eye disorders, and a surge in the rollout of state-of-the-art systems. For instance, in October 2023, Baxter has introduced the iExaminer Pro system, which enables the digital capture of images for eye examinations through its current ophthalmoscope.
Segmentation: Electroretinogram Market Report 2023 - 2034
Electroretinogram Market Analysis & Forecast by Type 2023 - 2034 (Revenue USD Bn)
- Pattern ERG (PERG)
- Multifocal ERG (mfERG)
- Full-Field Flash ERG (ffERG)
Electroretinogram Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Handheld
- Tabletop
Electroretinogram Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Research
- Clinical Diagnostic
Electroretinogram Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Electroretinogram Market: Type Estimates & Trend Analysis
8. Electroretinogram Market: Product Estimates & Trend Analysis
9. Electroretinogram Market: Application Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Electroretinogram Market
12. Europe Global Electroretinogram Market
13. Asia Pacific Global Electroretinogram Market
14. Latin America Global Electroretinogram Market
15. MEA Global Electroretinogram Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Welch Allyn
- Diagnosys LLC
- CSO Italia
- Electro-Diagnostic Imaging Inc.
- LKC Technologies Inc.
- Roland-consul
- Metrovision
- Diopsys Inc.
- Konan Medical USA Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | March 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 0.65 Billion |
| Forecasted Market Value ( USD | $ 1.63 Billion |
| Compound Annual Growth Rate | 8.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
