Optical Coherence Tomography Market

Optical Coherence Tomography Market Size

The Optical Coherence Tomography Market was valued at 1.28 billion USD in 2021 and is expected to reach USD 4.5 billion by 2032, increasing at a CAGR of 12% during the forecast period, i.e., 2022-2032

Optical Coherence Tomography is a modern technique used for cross-sectional imaging with high resolution. Optical Coherence Tomography is a non-invasive imaging method which utilizes coherent light for capturing 2D and 3D pictures. Imaging with high depth of penetration and high resolution are the characteristics of optical coherence tomography. This method is use for examining transparent tissues and to analyse the retina condition by providing images of tissue in real time. This method is used in optical biopsy and assist in reducing the sampling errors involved with biopsy.

Market Highlights

Optical Coherence Tomography Market is expected to project a CAGR of 12% during the forecast period

The Optical Coherence Tomography Market was valued at 1.28 billion USD in 2021 and is expected to reach USD 4.5 billion by 2032, increasing at a CAGR of 12% during the forecast period, i.e., 2022-2032 owing to the factors like increasing geriatric population who require OCT in drug delivery. The rising advantages in developing economies by increasing the investments on for technical advancements is expected to drive the growth of optical coherence tomography (OCT) market.

Optical Coherence Tomography Market: Segments

Frequency Domain Optical Coherence Tomography (FD-OCT) segment is expected to dominate in the forecast period 

Optical Coherence Tomography Market is classified based on the Technology into Time Domain OCT (TDOCT), By Frequency Domain OCT (FD-OCT), Spatial Encoded Frequency Domain OCT. The Frequency Domain Optical Coherence Tomography (FD-OCT) segment dominated the market in 2021 and is also expected to dominate the market with high share during the forecast period. It works by measuring interference spectrum and so referred as Spectral-Domain OCT (SD-OCT) and is a traditional technique used for examining retina of eye.

Handheld OCT device type segment is expected to dominate in the forecast period  

Optical Coherence Tomography Market is classified based on the Type into Catheter Based OCT Devices, Doppler OCT Devices, Handheld OCT Devices, Table-top OCT Devices. The Handheld OCT device type segment dominated the market in 2021 and is expected to maintain the same in the forecast period. Handheld OCT devices are used to detect early symptoms of several eye disorders.

Market Dynamics                                                     

Growth Drivers

Rising Number Of Patients With Eye Disorders Will Propel The Market Growth

Increasing number of patients with eye disorders, rising geriatric population is expected to boost the growth of the market. Increasing OCT imaging techniques in dosage forms, rising medical centres and early diagnosis techniques are expected to dominate the Optical coherence tomography (OCT) market share in the forecast period.

Advancements In Healthcare Sector Is Expected To Boost The Market Growth

Novel advancements in healthcare systems, several initiatives of government to reinforce infrastructure and R&D operations to improve effectiveness of tomography devices aid in the growth of the market. An increase in optical coherence tomography (OCT) in various domains will help to boost the market growth.

Restraint

High Cost Of Optical Coherence Tomography (OCT) Will Restrain The Market Growth

The optical coherence tomography (OCT) devices related to ophthalmology are expensive and the lack of reimbursement policies will hamper the growth of the market.  The availability of competitive technologies and high cost of investment may restrain the growth of the optical coherence tomography (OCT) market.

Recent Developments

• ??In April 2022, Alcon along with Alcon Fidelis Virtual Reality (VR) Ophthalmic Surgical Simulator, reinforced training and education using portable VR tool.
• In January 2022, Haag-StreitUK (HS-UK) introduced its OptovueiScan80 in the country which is high-speed OCT system ideal to seek affordable and versatile OCT system.

Optical Coherence Tomography Market:

Key Players

• Carl Zeiss AG

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

• Heidelberg Engineering GmbH
• Agfa Healthcare India Pvt. Ltd
• Leica Microsystems
• TOPCON CORPORATION
• Michelson Diagnostics Ltd
• Abbott
• Agiltron Inc.
• Insight.
• Thorlabs Inc.
• HAAG-STREIT GROUP
• Miniprobes
• OPTOPOL Technology Sp. z o.o
• Shenzhen MOPTIM Imaging Technique Co., Ltd.
• Canon Inc.
• Novartis
• Edmund Optics Inc
• Other Prominent Players

Optical Coherence Tomography Market: Regions

Optical Coherence Tomography Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Based on regional analysis, North America dominated the market in 2021 and is expected to dominate the market share in the global Optical Coherence Tomography market in the forecast period owing to the rising investments in R&D, increasing geriatric population and adoption of new products in the region.

Impact of Covid-19 on Optical Coherence Tomography Market

COVID-19 pandemic led to the increased demand for medical supplies and respiratory support devices. Due to the pandemic, a huge demand for medical supplies was created as they were used by healthcare professionals and civil population for precautionary measures. COVID 19 pandemic had a slight positive impact on the growth of optical coherence tomography market.

Optical Coherence Tomography Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Optical Coherence Tomography Market report also contains analysis on:

Optical Coherence Tomography Market Segments:

• By Technology 
  • Time Domain OCT (TDOCT)
  • Frequency Domain OCT (FD-OCT)
  • Spatial Encoded Frequency Domain OCT 
• By Type  
  • Catheter Based OCT Devices
  • Doppler OCT Devices
  • Handheld OCT Devices
  • Table-top OCT Devices
• By Application
  • Clinical (Ophthalmology, Cardiology, Oncology, Dermatology, Dentistry)
  • Industrial (Industrial Quality Control, Non-Destructive Testing, Others) 
• By Scanning Speed  
  • 400 A-scans/sec
  • 4000 A-scans/sec
  • 20000 A-scans/sec
  • 32000 A-scans/sec
  • 40000 A-scans/sec
  • 70000 A-scans/sec
  • 80000 A-scans/sec
  • 100000 A-scans/sec
  • 250000 A-scans/sec
• Optical Coherence Tomography Market Dynamics
• Optical Coherence Tomography Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

Optical Coherence Tomography Market Report Scope and Segmentation

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