Electroretinogram Market Size, Share, and Growth Forecast for 2024 - 2031

Electroretinogram Market Size and Share

The electroretinogram market is estimated to reach a value of US$ 94.3 Mn in 2031 from US$ 50.4 Mn recorded in 2024. It is anticipated to capture a CAGR of 9.4% during the forecast period from 2024 to 2031. Increasing prevalence of cone-rod dystrophy, macular degeneration, retinitis pigmentosa, and glaucoma is predicted to create new growth opportunities.

The Glaucoma Research Foundation mentions that around 80 million individuals worldwide suffer from glaucoma at the moment. The most intriguing fact is that nearly 50% of glaucoma sufferers are unaware of their condition. About more than 3 million individuals in the U.S. who suffer from glaucoma are unaware that they have the condition.

About 8.4 million people worldwide are thought to have lost their sight due to primary open-angle glaucoma in 2010. It is projected that 22 million people worldwide would be blind due to glaucoma by 2040. These rising numbers have created concerns among individuals to take better care of their eye health, thereby propelling demand for ERG tests in eye.

Key Highlights of the Market

• North America will likely hold a significant market share of 40.5% in 2024, driven by rising prevalence of retinal diseases and access to innovative diagnostic tools.
• By type, the flash ERG (ffERG) segment is set to account for a share of 45.8% in 2024 amid its quick and reliable retinal assessment capabilities.
• Based on application, the clinical diagnostic segment is projected to account for 61.2% of the market share in 2024, reflecting the demand for accurate and timely diagnostic tools in healthcare.
• Increasing awareness of retinal diseases and technological innovations are key factors driving demand for ERG devices.
• Developments in wearable ERG devices present new opportunities for homecare diagnostics, extending access to retinal health monitoring.
• Key players like LKC Technologies and Diagnosys LLC are set to focus on product innovation and partnerships to enhance their market presence.

Market Attributes	Key Insights
Electroretinogram Market Size (2024E)	US$ 50.4 Mn
Projected Market Value (2031F)	US$ 94.3 Mn
Global Market Growth Rate (CAGR 2024 to 2031)	9.4%
Historical Market Growth Rate (CAGR 2019 to 2023)	8.9%

North America Electroretinogram Market Leads with Surging Diabetic Retinopathy

North America electroretinogram market is expected to maintain a dominant share of 40.5% in 2024. This growth is driven by the rising prevalence of retinal diseases, increasing awareness of early diagnosis, and innovations in ERG technology. For instance,

• As per the Centers for Disease Control and Prevention (CDC), there were around 9.6 million cases of diabetic retinopathy and 1.84 million cases of vision-threatening diabetic retinopathy in the U.S. in 2021. Individuals under the age of 25 years had the lowest prevalence of diabetic retinopathy, whereas those between 65 and 79 years had the highest prevalence. This shows that the numbers are anticipated to rise in future, thereby pushing demand for electroretinogram interpretation.

North America’s well-established healthcare infrastructure and early adoption of innovative diagnostic tools also contribute to the continued expansion of the market.

India Sees Significant Growth Amid Rising Prevalence of Diabetes

In Asia Pacific electroretinogram market, India is projected to remain at the forefront in terms of market share. Diabetes is prevalent in India, and ERG testing is frequently necessary for the precise identification of diabetes-related eye conditions, such as diabetic retinopathy. The need for ERG as a method of evaluating retinal function is hence rising in the country. For example,

• Around 12.5% of adults 40 years or older had diabetic retinopathy, according to a study conducted in ten states and one union territory in India. The prevalence was higher among those with known diabetes (15.5%) than among those without a diagnosis (8.0%).

Flash ERG Gains Momentum due to its Non-invasive Nature

Category	Market Share in 2024
Type- Flash ERG (ffERG)	45.8%

The flash ERG (ffERG) segment maintains its dominance in the market. This growth is driven by the product’s ability to provide rapid and reliable retinal function assessments. This makes it a highly preferred choice for diagnosing retinal disorders. Its non-invasive nature, high sensitivity, and widespread adoption in both clinical and research settings also contribute to its continued market leadership and skyrocketing demand across various regions.

High Demand for Accurate Devices to Propel the Clinical Diagnostic Segment

Category	Market Share in 2024
Application- Clinical Diagnostic	61.2%

The clinical diagnostic segment continues to dominate the global market. This leadership is attributed to the increasing demand for accurate and timely diagnostic tools in healthcare settings. The segment benefits from innovations in diagnostic technologies, growing patient awareness, and rising healthcare expenditures. As healthcare providers emphasize early disease detection and personalized treatment, the clinical diagnostic segment remains a critical driver of market growth and innovation.

Electroretinogram Market Introduction and Trend Analysis

The electroretinogram market is an emerging industry in the field of ophthalmology, focused on the use of ERG tests to assess retinal function. These tests measure the electrical responses of the retina to light stimuli. They help in the diagnosis of various retinal disorders, including retinitis pigmentosa, macular degeneration, and diabetic retinopathy. With increasing awareness of retinal diseases and innovations in medical technology, demand for ERG devices is rising.

The market is further witnessing notable trends such as the development of portable and non-invasive ERG devices, which offer greater patient comfort and accessibility. Additionally, innovations in digital technology are enhancing the precision and efficiency of ERG testing.

Growing prevalence of retinal diseases and an aging population are key factors driving market growth. Moreover, healthcare professionals are increasingly adopting ERG tests as part of routine eye examinations, further contributing to market expansion. The trend toward integration with other diagnostic tools and AI-powered platforms is also anticipated to shape the future of the global market for photopic ERG.

Historical Growth and Course Ahead

The analysis of the electroretinogram (ERG) industry spans current, historical, and futuristic perspectives. The market witnessed steady growth at a CAGR of 8.9% from 2019 to 2023.

ERG testing has been a vital tool in diagnosing retinal disorders, but its adoption was limited due to the complexity and high cost of traditional devices. Innovations in technology have made ERG testing more accessible and accurate, with portable, user-friendly devices becoming more common. The growing prevalence of retinal diseases and a rising focus on early diagnosis contribute to the market’s ongoing expansion.

The ERG industry is poised for further innovation, with the integration of artificial intelligence (AI) and machine learning to enhance data analysis and diagnostic precision. There is also potential for greater automation and remote diagnostics, making ERG tests more widely available and convenient. As personalized healthcare and digital solutions continue to evolve, multifocal ERG tests will likely see continued growth and technological innovations.

Market Growth Drivers

Rising Prevalence of Eye Disorders to Fuel Demand for Multifocal Electroretinogram

The rising prevalence of eye disorders, such as retinitis pigmentosa, macular degeneration, and diabetic retinopathy, is significantly driving demand for cutting-edge electroretinogram (ERG) devices. As these conditions become increasingly common, especially with the aging global population, early and accurate diagnosis is critical for effective management and treatment. ERG tests play a crucial role in evaluating retinal function, providing valuable insights into the severity and progression of these disorders.

Innovative ERG devices, offering improved precision, portability, and ease of use, are increasingly being adopted by healthcare professionals to enhance diagnostic accuracy. This growing need for reliable retinal assessments is fueling demand for innovative ERG technologies, ensuring better outcomes for patients.

Emergence of Novel Ophthalmology Centers to Boost Demand

The expansion of healthcare infrastructure and increasing number of ophthalmology centers are significantly boosting demand for electroretinogram (ERG) diagnostic devices. As healthcare systems evolve and more specialized clinics are established, there is a growing need for unique diagnostic tools to address rising eye-related health issues.

ERG devices, essential in diagnosing retinal conditions like macular degeneration and diabetic retinopathy, are being integrated into ophthalmology centers to offer precise, early diagnosis and improve patient care. The ongoing development of more accessible, user-friendly ERG technologies is also supporting this growth. This is further making it easier for healthcare providers to adopt these devices in routine eye examinations, thereby driving market growth.

Market Restricting Factors

High Cost May Limit Accessibility and Adoption in Developing Countries

The high costs associated with electroretinography (ERG) devices pose a significant restraint for market growth. These are anticipated to limit access to diagnostic services. ERG equipment, especially advanced models, can be expensive, making it challenging for small-scale clinics, hospitals, and healthcare providers in low-resource settings to invest in such technologies.

The financial barrier restricts the widespread adoption of ERG testing, particularly in developing countries, where affordable alternatives are needed. The cost factor also affects insurance coverage, which may limit patient access to necessary retinal assessments. Consequently, while ERG is a significant diagnostic tool, its high cost can hinder accessibility and widespread use in routine eye care.

Key Market Opportunities

Launch of Wearable and Portable ERG Devices to Open New Avenues

Technological innovations in wearable and portable electroretinography (ERG) devices present significant opportunities for market expansion, particularly in homecare diagnostics. These innovations enable the development of compact, user-friendly ERG devices that can be easily used outside traditional healthcare settings. With the growing demand for remote healthcare solutions, portable ERG devices allow patients to monitor their retinal health from the comfort of their homes, reducing the need for frequent hospital visits.

Ongoing innovations are estimated to open new doors to opportunities, particularly in underserved regions, where access to specialized ophthalmology centers may be limited. As these devices become highly affordable and accessible, they are poised to revolutionize the way retinal conditions are diagnosed and managed.

Development of Healthcare Infrastructure to Forge Novel Opportunities

The expansion of healthcare facilities and services is significantly driving demand for advanced access devices, including ERG eye tests. As healthcare infrastructure develops, new hospitals, clinics, and specialized centers are increasingly adopting cutting-edge technologies to improve patient care and procedural efficiency. This expansion not only raises the volume of procedures performed but also surges the need for high-performance, minimally invasive access devices.

Enhanced medical facilities seek to offer the latest advancements to attract patients and ensure optimal outcomes, creating a robust market for unique access devices. Consequently, the growth of healthcare infrastructure directly fuels market expansion for these devices.

Competitive Landscape for the Electroretinogram Market

The competitive landscape of the electroretinogram (ERG) industry is characterized by the presence of several key players focusing on technological innovation and product development. Leading companies such as Diagnosys LLC, Roland Consult, and Electro-Diagnostic Imaging are actively enhancing the functionality and accessibility of ERG devices.

Key players are investing in portable, user-friendly devices and integrating unique features like AI-driven analysis for improved diagnostic precision. Additionally, partnerships, collaborations, and mergers are common strategies to extend market reach and enhance product offerings. These strategies are helping key players to foster a highly competitive environment in the ERG diagnostic space.

Recent Industry Developments in the Electroretinogram Market

• In November 2024, Evoq Technologies, headquartered in the U.S., bagged the U.S. Food and Drug Administration (FDA) registration for its first-ever SmartERG platform. Currently, the Biophotomer smartphone product is considered a Class I medical equipment with its ability to test for impairments in dark adaptation. To submit the ophthalmic biosensor and specialty stimulators as Class II medical devices the following year, Evoq plans to carry out clinical research.
• In May 2024, researchers from Waseda University, Japan introduced an innovative soft multi-electrode system for electroretinography (ERG). It is capable of measuring electrical potential from various retinal locations. Built on soft contact lenses, it helps improve comfort and diagnosis.
• In February 2024, LKC Technologies, based in Maryland, acquired RETeval®, bringing new management yet maintaining the same trusted technology. This strategic move positioned LKC to enhance ERG innovations, promising a robust future for vision diagnostics worldwide.

Electroretinogram Market Report Scope

Attributes	Details
Forecast Period	2024 to 2031
Historical Data Available for	2019 to 2023
Market Analysis	US$ Million for Value
Key Regions Covered	North America Latin America Europe East Asia South Asia The Middle East and Africa
Key Market Segments Covered	Type Product  Application   End User Region
Key Companies Profiled	LKC Technologies, Inc. Electro-Diagnostic Imaging, Inc Roland-consult Cadwell Industries Inc Diagnosys LLC Konan Medical USA, Inc CSOITALIA.IT Metrovision Ocular Instruments Haag-Streit Group Opto-Medic Co Pte Ltd Stereo Optical
Report Coverage	Market Forecast Company Share Analysis Competition Intelligence DROT Analysis Market Dynamics and Challenges Strategic Growth Initiatives
Customization and Pricing	Available upon request

Electroretinogram Market Segmentation

By Type  

• Flash ERG (ffERG)
• Pattern ERG (PERG)
• Multifocal ERG (mfERG)

By Product

• Handheld
• Tabletop

By Application 

• Clinical Diagnostic
• Research

By End User

• Hospitals
• Ophthalmic Clinics
• Academic and Research Institutes
• Others

By Region

• North America
• Latin America
• Europe
• East Asia
• South Asia
• The Middle East and Africa

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