The visual electrophysiology market is anticipated to flourish at a steady CAGR of 7.0% between 2023 and 2033. The market is expected to hold a market share of USD 458.9 million by 2033 while the market is likely to reach a value of USD 234.1 million in 2023.
New technology, materials, and techniques to produce innovative practice solutions significantly contribute to global market growth. In addition to this, the ease of handling visual electrophysiology devices is surging its adoption in home and alternate care settings.
There is spreading awareness of the requirement for occasional eye examinations for early diagnosis of visual disorders. Therefore retinal electrophysiology is expected to surge the demand for visual electrophysiology.
The market size is expected to increase due to the device’s portability and frequent technological advances. The versatility of visual electrophysiology devices for use on adults, children, or animals of all sizes for clinical and research purposes propels its demand.
| Attributes | Details |
|---|---|
| Visual Electrophysiology Market CAGR (2023 to 2033) | 7.0% |
| Visual Electrophysiology Market Size (2023) | USD 234.1 million |
| Visual Electrophysiology Market Size (2033) | USD 458.9 million |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
Rising technological developments and increasing investments in visual electrophysiology devices are expected to boost market growth. Furthermore, the increasing geriatric population in various parts of the world surges the demand for visual electrophysiology.
Rising expenditures in healthcare advancements and growing adoption practice for visual electrophysiology diagnosis are likely to expand the market size. Moreover, the rising prevalence of neurological and eye disorders are key factors that drive the market growth.
Influx funding for research studies, government initiatives, and awareness programs are growing awareness of the benefits of visual electrophysiology. Additionally, using an electroretinogram (ERG) to eliminate any ophthalmic diseases and establishing correct diagnoses are likely to drive the visual electrophysiology adoption trends.
High costs associated with the diagnosis and treatment procedures, along with the lack of experience in using advanced technologies, pose a threat to this market. Moreover, rigid regulations by the government for recording electrical signals in the electrophysiological test are further expected to hinder market growth.
The absence of skilled professionals and the availability of property healthcare infrastructure in developing economies might hamper the visual electrophysiology market.
Principal Consultant
Growing awareness about the adverse effects of visual and neurological disorders is likely to generate revenue opportunities for the market. Furthermore, increasing research and development (R&D) activities, and technological developments, are expected to accelerate market growth.
Modernization in healthcare devices creates significant opportunities for the market. Additionally, the increasing funding by various governments worldwide is expected to provide growth opportunities. It is important to note that authorities across the world are conducting awareness programs regarding such kinds of tests. This is expected to change the visual electrophysiology market outlook.
| Countries | Revenue Share % (2022) |
|---|---|
| The United States | 33.4% |
| Germany | 5.3% |
| Japan | 3.9% |
| North America | 36.1% |
| Europe | 25.9% |
| Countries | CAGR % (2023 to 2033) |
|---|---|
| China | 8.4% |
| India | 7.1% |
| The United Kingdom | 5.4% |
| Australia | 5.7% |
North America holds a notable share of the visual electrophysiology market with a significant revenue of 33%. During the forecast period, the market share is anticipated to expand. This is because of the increasing investments being made in research and development in the region.
There have been increasing cases of eye-related disorders in the region, which is expected to surge the market growth of visual electrophysiology further. Moreover, the ability to be used across age groups is expected to drive this market.
Europe’s visual electrophysiology market held a market share of 25.9% in 2022. Increasing cases of cancer in the region are expected to fuel the growth of the market. Moreover, the rapid advancements in technology are expected to further the rise of this market.
The government in this region is proactive when it comes to dealing with the physical well-being of the population. Therefore, awareness programs are expected to shape the visual electrophysiology market trends in the region.
Asia Pacific is a growing visual electrophysiology market. Improvement of healthcare facilities and economic conditions are likely to surge the market growth.
Japan is also likely to hold a significant market share, owing to the presence of a technologically developed structure. The growing awareness about the importance of eye health is anticipated to bolster the visual electrophysiology market share, in this region. In Asia Pacific as well, increasing investments are being made in research and development, which is expected to drive the market.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
| Category | By Test Type |
|---|---|
| Leading Segment | Electroretinogram (ERG) |
| Market Share% (2022) | 38.80% |
| Category | By Modality |
|---|---|
| Leading Segment | Fixed |
| Market Share% (2022) | 65.90% |
Based on test type, the electroretinogram segment leads the market as it held a market share of 38.80% in 2022. On the other side, the modality category is led by the fixed type segment due to the high consumption. The segment held a market share of 65.90% in 2022.
The ability to locate problems at the early stage and to eliminate specific conditions are increasing the popularity of visual electrophysiology. The startups are offering training to cover recent information on new technology, materials, and techniques for innovative practice solutions. Moreover, certain start-up companies are using traditional methods combined with substantial research and development (R&D) activities. For example,
How is the Competitive Landscape in the Visual Electrophysiology Market?
The extensive range of applications including diagnosis, elimination of specific conditions, locating problems at some level of the visual system, etc. is driving key players to improve devices for visual electrophysiology. This is done through research and development (R&D) activities, for clinical and research purposes.
Recent Developments
The market in China is expected to record a CAGR of 8.4% through 2033.
Abbott, Biosense Webster Inc., Biotronik are the prominent market players.
The industry is forecast to record a CAGR of 7.0% through 2033.
The industry is expected to reach USD 458.9 million by 2033.
Europe’s visual electrophysiology market held a market share of 25.9% in 2022.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Test Type 5.1. Electroretinogram (ERG) 5.2. Multifocal Electroretinogram (mfERG) 5.3. Electro-Oculogram (EOG) 5.4. Visual-Evoked Responses (VER) 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Modality 6.1. Fixed 6.2. Portable 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 7.1. Hospitals 7.2. Clinics 7.3. Ambulatory Surgical Centers 7.4. Diagnostic Imaging Centers 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Metrovision 18.2. Konan Medical USA 18.3. Diopsys Inc 18.4. Nationwide Children’s Hospital 18.5. The Royal College of Ophthalmologists 18.6. LKC Technologies Inc. 18.7. Boston Scientific Corporation 18.8. Abbott 18.9. Biosense Webster Inc. 18.10. Biotronik 18.11. General Electric Company 18.12. Siemens Healthcare GmbH 18.13. MicroPort Scientific Corporation 18.14. Koninklijke Philips N.V. 18.15. NIHON KOHDEN CORPORATION 18.16. CardioFocus 18.17. Stereotaxis Inc. 18.18. Molecular Devices LLC 19. Assumptions & Acronyms Used 20. Research Methodology
Explore Healthcare Insights
View Reports
Visual Electrophysiology Market
