LONDON--(BUSINESS WIRE)--The global electroretinograph market is expected to post a CAGR close to 7% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the growing aging population and the prevalence of eye diseases. Eye disease is a visual impairment condition that occurs due to deviation from the normal structure and function of the eye. Aging is one of the factors for eye diseases. Among various eye diseases, the high prevalence of AMD, glaucoma, cataract, and diabetic retinopathy causes visual impairment globally. Therefore, for such stages diagnosis at the initial stage is essential and ERG is used to access the status of the retina by measuring the electric response to photic stimulation. Thus, the growing aging population and the prevalence of eye diseases will drive the demand for global electroretinograph market during the forecast period.
As per Technavio, the growing popularity of mfERG will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global electroretinograph market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global electroretinograph market: Growing popularity of mfERG
Traditionally available full-field and single-point ERGs are insensitive and are limited to record only a part of the retina. In addition, these devices do not provide topographical information or assessment of non-foveal lesions. Therefore, mfERG is increasingly being used to record ERG responses simultaneously from many regions of the retina. They are used in cases where fundus appears to be normal, and it is difficult to distinguish between diseases of the ganglion cells and outer retina. mfERG is also used in the diagnosis of unknown visual loss, distinguish between the optic nerve and retinal disease, and to determine the hydroxychloroquine toxicity. For instance, Diopsys mfERG by Diopsys is used to diagnose the first signs of drug-induced retinopathy and retinal toxicities. Thus, due to such advantages of mfERG, the global electroretinograph market is expected to showcase a positive outlook during the forecast period.
“Apart from the growing aging population and prevalence of eye diseases and the increasing popularity of mfERG, the growing awareness of ERG is one of the main factors that is boosting the growth of the market. The rising incidence of various eye diseases led to an increase in awareness and adoption of ERG. Vendors in the market are also aimed to improve awareness through promotions and educational programs that emphasize the advantages of ERG device in evaluating the severity of retinal diseases and monitoring of retinal function to provide timely treatment. Thus, with such initiations, the growing awareness of ERG is expected to drive market growth during the forecast period,” says a senior analyst at Technavio.
Global electroretinograph market: Segmentation analysis
This market research report segments the global electroretinograph market by product (fixed ERG and portable ERG), by application (clinical and research) and geographical regions (North America, Europe, Asia, and ROW).
The North American region led the market in 2018, followed by Europe, Asia, and ROW respectively. However, during the forecast period, the Asian region is expecte to register the highest incremental growth due to rising healthcare expenditure, growing aging population, and increasing prevalence of retinal disorders in the region
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