According to a new 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.

Electroretinography (ERG) is a diagnostic test used to measure the electrical response of the light sensitive cells such as the cones and the rods present in the eyes. ERG is used for detecting eye disorders such as, retinitis pigmentosa, macular degeneration, retinoblastoma, glaucoma as well as diabetic retinopathy. Compared to the other methods of eye examination, ERG offers better results as well as causes less discomfort to the patients, hence is preferred widely for the diagnosis as well as treatment of various eye disorders.

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Global electroretinography market, based on application was segmented as, clinical and research. In 2018, clinical segment held the largest share of the market, by application. Moreover, the segment is expected to grow at the fastest rate during the coming years owing to the prevalence of eye disorders as well as the rising geriatric population.

The major players operating in the electroretinography market are, 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. Inorganic activities such as, partnership is a prominent parameter undertaken by industry players. For instance, in April, 2018, LKC Technologies, entered into a partnership with US Retina to provide valuable and immediate access to new technologies to advance quality patient care. The developments performed by the companies are helping the market to grow in the coming years.

Diagnosys LLC and Costruzione Strumenti Oftalmici - Notable Market Players in Electroretinography Market

The players in the market are adopting various inorganic and organic developments for the individual growth and thus the growth of the market is highly dependent on them. The vital players in the electroretinography devices market focus on various growth strategies to strengthen their presence and garner major market share across the globe. Some of the notable players in the global 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., Welch Allyn, and other companies. The major market players within the recent years, have been observed to invest a substantial amount towards the development of new products. This implies a bright picture on the type of strategies majorly incorporated by the market players to sustain their positions as well as to generate increased growth revenue in the electroretinography market. The global leaders in the market have been majorly adopting product launches and product up-gradation as one of the key strategy to improve its product lines in order to build up a customer centric benefits to its end users and enhance its geographic diversification.

The global leaders are expanding their activities across the world and are developing various innovative techniques to diagnose the eye conditions. For instance, during October, 2018, Diopsys, Inc. launched the Diopsys Chromatic Flash Vision Screener. It is a simple-to-use and easy-to-integrate protocol within the Diopsys ffERG / Full Field Electroretinography module. It is a new screening protocol designed to detect early retinal function changes in patients with diabetes. Additionally, another company in the electroretinography market, Konan Medical a global leader in innovative diagnostic devices for the ophthalmic industry, announced that it has attained the CE mark for its newest device, EvokeDx.

Apart from the developments for the electroretinography the players in the market are have been expanding their geographic presence by establishment of offices or new manufacturing facilities. For instance, during May, 2018, Hill Rom inaugurated its subsidiary, Welch Allyn’s new manujfacturing facility situated at Skaneateles Falls, NY. The new facility would help in better catering to the needs of the customers in the United States, hence enabling the company to hold a stronger position in the market.

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