Visual Electrophysiology Market Status and Prospects 2022-2032

Posted by Ganesh Shinde on December 26th, 2022

The global Visual Electrophysiology Market is currently valued at US$ 220.3 Mn and is expected to reach US$ 475.3 Mn by 2032, growing at a 7.2% CAGR between 2022 and 2032.

New materials and technology for creating innovative practise solutions are known to significantly contribute to global market growth. Furthermore, visual electrophysiology devices are simple to use, which is likely to lead to an increase in at-home adoption.

Numerous public awareness campaigns are being held to promote regular eye examinations and the early detection of visual disorders. As a result, retinal electrophysiology is expected to dominate the visual electrophysiology market in the not-too-distant future.

The current scenario also sees an increase in funding for government initiatives, research studies, and public awareness campaigns about the benefits of visual electrophysiology.

The ability to identify problems at an early stage is driving the popularity of the visual electrophysiology market. There are start-ups that offer training in techniques and materials for developing innovative solutions. Along these lines, LumiThera Inc. appears to be a medical device start-up specialising in visual electrophysiology.

The primary goal is to create PBM (photo-biomodulation) treatment protocols for patients infected with AMD (Age-related macular degeneration). According to research, AMD is one of the leading causes of blindness in people aged 65 and up. The company offers vision preservation and enhancement treatments, as well as PBM devices for treating ocular disorders and diseases.

At the same time, higher treatment and diagnosis costs, combined with a scarcity of experts, are expected to restrain the visual electrophysiology market. Future Market Insights' latest market study, titled 'Visual Electrophysiology Market,' includes these facts and insights.

Key Takeaways from Visual Electrophysiology Market

• North America controls 33% of the global market. This could be attributed to increasing research investments. In addition, ocular disorders are becoming more common in this region at an alarming rate.
• Europe controls more than a quarter of the global market. This could be explained by the rising number of cancer cases in the area. Furthermore, when the patient's physical well-being is at stake, the government is quite proactive.
• The Asia-Pacific market for visual electrophysiology is expected to grow at the fastest rate. It is led by Japan, where eye health is prioritised.
  

“The visual electrophysiology market is bound to grow on the back of growing expenditures in the healthcare advancements with an ever-increasing adoption of visual electrophysiology diagnostics procedures”, says an analyst from Future Market Insights.

Competitive Landscape

• NICE published the final draught guidance in June 2022, recommending 'Farcimab,' a new drug, to help treat visual impairment and sight loss.
• Konan Medical, in collaboration with Konan Medical USA Inc., announced the release of the 'CellChek 20' novel endothelial imaging system in September 2020, which includes single-button press exam capturing images of the eyes and automated analysis with the new, 100% automated Center Method.
• LKC Technologies offers its RETeval Device, which includes age-adjusted normative data.
• To treat cardiac arrhythmias, Biosense Webster, Inc. has visual electrophysiological devices that enable advanced mapping, technical innovation, and data integration.
• As per type of test, ERG holds the largest market share. This could be credited to advantages like evaluation of both – acquired and hereditary disorders of retina. These diagnoses generally suspect retinitis pigmentose, choroideremia, retinitis pigmentosa sine pigment, congenital stationary night blindness, and achromatopsia. Governments in the advanced economies are also supporting early diagnosis as well as treatment of neurological and visual disorders.
• By end-user, hospitals lead the visual electrophysiology market. Clinics come in second. This is due to the fact that hospitals can better cope up with new machinery. There are hospitals having an exclusive ‘R&D Department’. This renders them in line with the latest technologies.

Key Segments Profiled in the Visual electrophysiology market

By Test Type: 

• Electroretinogram (ERG)
• Multifocal Electroretinogram (mfERG)
• Electro-Oculogram (EOG)
• Visual-Evoked Responses (VER)

By Modality:

• Fixed
• Portable

By End User: 

• Hospitals
• Clinics
• Ambulatory Surgical Centers
• Diagnostic Imaging Centers

Get More Details@ https://www.futuremarketinsights.com/reports/visual-electrophysiology-testing-devices-market