Electroretinography Market Size to Hit USD 62.72 million by 2027

Fixed electroretinography segment is expected to grow the market for electroretinography over the forecast period for product segment.

NEW YORK, UNITED STATES, October 31, 2022 /EINPresswire.com/ -- According to The Insight Partners market research study titled "Electroretinography Market to 2027 - Global Analysis and Forecasts by Product and Application". The global electroretinography market is expected to reach US$ 62.72 Mn in 2027 from US$ 35.79 Mn in 2018. The market is estimated to grow with a CAGR of 6.7% from 2019 - 2027. The report highlights the trends prevalent in the global electroretinography market and the factors driving the market along with those that act as deterrents to its growth.

The market for electroretinography is expected to grow due are rising prevalence of glaucoma among individuals and increasing cases of eye disorders in developed economies. In addition the growing geriatric population worldwide is likely to have a positive impact on the growth of the market in the coming years.

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The major players operating in the electroretinography market include, LKC Technologies, Inc, Diagnosys LLC, Electro-Diagnostic Imaging, Inc., Diopsys, Inc., Roland Consult Stasche & Finger GmbH, Metrovision, Costruzione Strumenti Oftalmici, Konan Medical USA, Inc., and Welch Allyn among others. Product launches have been an essential strategy adopted by the industry players in the electroretinography market. For instance, during November, 2018, Diopsys introduced ARGOS at AAO, a Tabletop Version of Its Electroretinography (ERG) and Visual Evoked Potential (VEP) Testing Technology. These developments have helped the company in strengthening its existing product offering in the market, hence assuring a strong presence in the market.

Global electroretinography market, based on product was segmented as, fixed and portable electroretinography. In 2018, the fixed electroretinography held the largest share of the market, by product. However, the portable electroretinography segment is expected to grow at a significant rate during the forecast period. Portable device is expected to witness increased growth during the coming years, since it causes limited discomfort to the patient along with better results.

Rising Prevalence of Glaucoma Among Individuals to Drive Global Electroretinography Market Growth

Glaucoma is a disease that damages the eye’s optic nerve. The condition occurs when a layer of fluid fills up on the outer side of the eye, creating a pressure and hence leading to damage to optic nerves. Glaucoma often leads to vision loss, eventually causing blindness. The World Health Organization estimates that 4.5 million people worldwide are blind due to glaucoma. In the United States, around 120,000 are blind from glaucoma, accounting for 9% to 12% of all cases of blindness. The population mostly susceptible to vision loss due to glaucoma includes the population aged above 60 years. However, if it is detected and treated at an early stage, one can avoid vision loss. The worldwide age- standardised prevalence of glaucoma in the population aged 40 years and above is estimated to be around 3·5%.

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