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Optical Coherence Tomography Market Size is projected to reach USD 5.45 billion by 2030, growing at a CAGR of 15.34%: Straits Research

Tuesday, June 06, 2023 12:00 PM | GlobeNewswire via QuoteMedia

Optical Coherence Tomography Market Size is projected to reach USD 5.45 billion by 2030, growing at a CAGR of 15.34%: Straits Research

The global optical coherence tomography market was valued at USD 1.51 billion in 2021 and is projected to reach USD 5.45 billion by 2030 at a CAGR of 15.34% 2022 to 2030, North America is growing at a CAGR of 14.70% during the forecast period.

New York, United States, June 06, 2023 (GLOBE NEWSWIRE) -- Optical coherence tomography is a cutting-edge technique used for cross-sectional imaging with high resolution. Similar to ultrasound imaging, optical coherence tomography is a type of non-invasive imaging technique. This technique uses coherent light to capture images in two and three dimensions. This technique is used to examine transparent tissues. In addition, this technique is employed in the field of ophthalmology to monitor the condition of the retina. During a biopsy, optical coherence tomography is distinguished by its high-resolution imaging and deep penetration. This method can provide live images of tissue. Consequently, it can be utilised in optical biopsies and can reduce sampling errors associated with biopsies.


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Cardiovascular Diseases are Driving the Market

The increasing prevalence of various cardiovascular diseases and eye disorders across the globe is a major factor driving the growth of the optical coherence tomography market, and this trend is anticipated to continue throughout the forecast period. According to the World Health Organization (WHO), approximately 2.2 billion people suffer from near or farsightedness due to eye diseases such as refractive error, cataracts, glaucoma, diabetic retinopathy , and other factors. Demand for advanced disease diagnostic tools, such as optical coherence tomography systems, is being driven by the escalation of these eye conditions.

A Rise in the Geriatric Population Is Driving the Market

Two of the most significant growth drivers for the global optical coherence tomography (OCT) market are the escalating incidences of cancer and the significant increase in the elderly population. In addition, an increase in the number of patients suffering from eye disorders and the growing adoption of advanced medical and healthcare facilities are driving demand within the global optical coherence tomography (OCT) market. In addition, the constant innovations in the healthcare sector and the increasing government funding and capital aimed at advancing research and development in the field are contributing to the growth of the global optical coherence tomography (OCT) market.

Technological Advancements Will Bring In New Opportunities

Leading manufacturers of optical coherence tomography devices continually invest in research and development to broaden OCT's applicability for various neoplastic and inflammatory skin diseases. They are introducing advanced OCT systems with the highest possible speed and resolution. This will continue to fuel market expansion for optical coherence tomography over the next few years.

In addition, the growing use of optical coherence tomography for analysis and quality control applications across industries as a result of its non-destructive and contactless nature, coupled with the rapid growth of the OCT imaging systems market, is anticipated to increase the optical coherence tomography market share in the coming years. Optical coherence tomography has demonstrated promising results in the inline examination of multilayered objects during manufacturing processes.


Report Scope

Report Metric Details
Market Size USD 5.45 billion by 2030
CAGR 15.34% (2022-2030)
Historical Data 2019-2020
Base Year 2021
Forecast Period 2022-2030
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Technology, Type, Application
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors Afga Healthcare, Carl Zeiss Meditec AG, Heidelberg Engineering GmbH, Imalux Corporation, Michelson Diagnostics, Novacam Technologies Inc., OPTOPOL Technology S.A., Topcon Medical Systems, and Thorlabs Inc.
Key Market Opportunities Technological Advancements
Key Market Drivers Cardiovascular Diseases
A Rise in the Geriatric Population

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Regional Analysis

North America Optical Coherence Tomography market is growing at a CAGR of 14.70% during the forecast period due to the increasing geriatric population, increasing approvals and R&D investments, inclination toward adopting newer products in the US, expansion of hospitals, and the presence of well-established healthcare infrastructure.

In 2021, Asia-Pacific held the second largest market share. During the forecast period, it is anticipated that this region will experience the highest growth rate, 16.70%. The growth can be attributed to a number of factors, including the rising prevalence of chronic disorders, the high adoption of advanced technologies, the presence of a large geriatric population, the rising reimbursement for surgical procedures, and the growing preference for minimally invasive procedures over conventional ones. In addition, growing awareness of eye disorders is anticipated to boost the growth of the optical coherence tomography (OCT) market in the region over the forecast period.

Key Highlights

  • The global optical coherence tomography market size was valued at USD 1.51 billion in 2021 and is projected to reach USD 5.45 billion by 2030 at a CAGR of 15.34% from 2022 to 2030.
  • A rise in cardiovascular diseases and the geriatric population are driving the market.
  • This market can be segmented on the basis of technology, type, application, regions and competitors .
  • By 2030, North America is anticipated to have the largest market share , with the Asia Pacific emerging as the fastest-growing market.

Competitors in Optical Coherence Tomography Market

With global competition being so intense, the market is fragmented. Global players have adopted a number of initiatives, including strategic alliances with regional distributors and regionally-based type variations. In order to meet market demand, major corporations are investing in research and development for the creation and introduction of new products.

  • Afga Healthcare
  • Carl Zeiss Meditec AG
  • Heidelberg Engineering GmbH
  • Imalux Corporation
  • Michelson Diagnostics
  • Novacam Technologies Inc.
  • OPTOPOL Technology S.A.
  • Topcon Medical Systems
  • Thorlabs Inc.


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Segmentation of Optical Coherence Tomography Market

Technology Outlook

  • Time Domain OCT (TDOCT)
  • Frequency Domain OCT (FD-OCT)
  • Spatial Encoded Frequency Domain OCT
    • Fourier Domain OCT (FDOCT)
    • Others

Type Outlook

  • Catheter-Based OCT Devices
  • Doppler OCT Devices
  • Handheld OCT Devices
  • Tabletop OCT Devices

Application Outlook

  • Ophthalmology
  • Cardiovascular
  • Oncology
  • Dermatology
  • Others

Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa


TABLE OF CONTENT

  1. Executive Summary
  2. Research Scope & Segmentation
    1. Research Objectives
    2. Market Definition
    3. Limitations & Assumptions
    4. Market Scope & Segmentation
    5. Currency & Pricing Considered
  3. Market Opportunity Assessment
    1. Emerging Regions / Countries
    2. Emerging Companies
    3. Emerging Applications / End Use
    4. Investment Landscape
    5. New Business Models / Revenue Streams
    6. TAM
  4. Market Trends
    1. Drivers
    2. Market Warning Factors
    3. Latest Macro Economic Indicators
    4. Geopolitical Impact
    5. Human Factors
    6. Technology Factors
  5. Market Assessment
    1. Porters Five Forces Analysis
    2. Value Chain Analysis
    3. Sales And Distribution Channel Analysis
    4. Trade Analysis
    5. Average Pricing Analysis
    6. Patent Analysis
    7. M & A Agreements & Collabration Analysis
    8. Cost Structure Analysis
  6. ESG TRENDS
  7. Global Optical Coherence Tomography Market Size Analysis
    1. Global Optical Coherence Tomography Market Introduction
    2. Technology Outlook
      1. Introduction
        1. Technology Outlook By Value
      2. Time Domain OCT (TDOCT)
        1. By Value
      3. Frequency Domain OCT (FD-OCT)
        1. By Value
      4. Spatial Encoded Frequency Domain OCT
        1. By Value
        2. Fourier Domain OCT (FDOCT)
          1. Fourier Domain OCT (FDOCT) By Value
        3. Others
          1. Others By Value
    3. Type Outlook
      1. Introduction
        1. Type Outlook By Value
      2. Catheter-Based OCT Devices
        1. By Value
      3. Doppler OCT Devices
        1. By Value
      4. Handheld OCT Devices
        1. By Value
      5. Tabletop OCT Devices
        1. By Value
    4. Application Outlook
      1. Introduction
        1. Application Outlook By Value
      2. Ophthalmology
        1. By Value
      3. Cardiovascular
        1. By Value
      4. Oncology
        1. By Value
      5. Dermatology
        1. By Value
      6. Others
        1. By Value
  8. North America Market Analysis
    1. Introduction
    2. Technology Outlook
      1. Introduction
        1. Technology Outlook By Value
      2. Time Domain OCT (TDOCT)
        1. By Value
      3. Frequency Domain OCT (FD-OCT)
        1. By Value
      4. Spatial Encoded Frequency Domain OCT
        1. By Value
        2. Fourier Domain OCT (FDOCT)
          1. Fourier Domain OCT (FDOCT) By Value
        3. Others
          1. Others By Value
    3. Type Outlook
      1. Introduction
        1. Type Outlook By Value
      2. Catheter-Based OCT Devices
        1. By Value
      3. Doppler OCT Devices
        1. By Value
      4. Handheld OCT Devices
        1. By Value
      5. Tabletop OCT Devices
        1. By Value
    4. Application Outlook
      1. Introduction
        1. Application Outlook By Value
      2. Ophthalmology
        1. By Value
      3. Cardiovascular
        1. By Value
      4. Oncology
        1. By Value
      5. Dermatology
        1. By Value
      6. Others
        1. By Value
    5. U.S.
    6. Canada
  9. Europe Market Analysis
    1. Introduction
    2. Technology Outlook
      1. Introduction
        1. Technology Outlook By Value
      2. Time Domain OCT (TDOCT)
        1. By Value
      3. Frequency Domain OCT (FD-OCT)
        1. By Value
      4. Spatial Encoded Frequency Domain OCT
        1. By Value
        2. Fourier Domain OCT (FDOCT)
          1. Fourier Domain OCT (FDOCT) By Value
        3. Others
          1. Others By Value
    3. Type Outlook
      1. Introduction
        1. Type Outlook By Value
      2. Catheter-Based OCT Devices
        1. By Value
      3. Doppler OCT Devices
        1. By Value
      4. Handheld OCT Devices
        1. By Value
      5. Tabletop OCT Devices
        1. By Value
    4. Application Outlook
      1. Introduction
        1. Application Outlook By Value
      2. Ophthalmology
        1. By Value
      3. Cardiovascular
        1. By Value
      4. Oncology
        1. By Value
      5. Dermatology
        1. By Value
      6. Others
        1. By Value
    5. U.K.
    6. Germany
    7. France
    8. Spain
    9. Italy
    10. Russia
    11. Nordic
    12. Benelux
    13. Rest Of Europe
  10. APAC Market Analysis
    1. Introduction
    2. Technology Outlook
      1. Introduction
        1. Technology Outlook By Value
      2. Time Domain OCT (TDOCT)
        1. By Value
      3. Frequency Domain OCT (FD-OCT)
        1. By Value
      4. Spatial Encoded Frequency Domain OCT
        1. By Value
        2. Fourier Domain OCT (FDOCT)
          1. Fourier Domain OCT (FDOCT) By Value
        3. Others
          1. Others By Value
    3. Type Outlook
      1. Introduction
        1. Type Outlook By Value
      2. Catheter-Based OCT Devices
        1. By Value
      3. Doppler OCT Devices
        1. By Value
      4. Handheld OCT Devices
        1. By Value
      5. Tabletop OCT Devices
        1. By Value
    4. Application Outlook
      1. Introduction
        1. Application Outlook By Value
      2. Ophthalmology
        1. By Value
      3. Cardiovascular
        1. By Value
      4. Oncology
        1. By Value
      5. Dermatology
        1. By Value
      6. Others
        1. By Value
    5. China
    6. Korea
    7. Japan
    8. India
    9. Australia
    10. Taiwan
    11. South East Asia
    12. Rest Of Asia-Pacific
  11. Middle East And Africa Market Analysis
    1. Introduction
    2. Technology Outlook
      1. Introduction
        1. Technology Outlook By Value
      2. Time Domain OCT (TDOCT)
        1. By Value
      3. Frequency Domain OCT (FD-OCT)
        1. By Value
      4. Spatial Encoded Frequency Domain OCT
        1. By Value
        2. Fourier Domain OCT (FDOCT)
          1. Fourier Domain OCT (FDOCT) By Value
        3. Others
          1. Others By Value
    3. Type Outlook
      1. Introduction
        1. Type Outlook By Value
      2. Catheter-Based OCT Devices
        1. By Value
      3. Doppler OCT Devices
        1. By Value
      4. Handheld OCT Devices
        1. By Value
      5. Tabletop OCT Devices
        1. By Value
    4. Application Outlook
      1. Introduction
        1. Application Outlook By Value
      2. Ophthalmology
        1. By Value
      3. Cardiovascular
        1. By Value
      4. Oncology
        1. By Value
      5. Dermatology
        1. By Value
      6. Others
        1. By Value
    5. UAE
    6. Turkey
    7. Saudi Arabia
    8. South Africa
    9. Egypt
    10. Nigeria
    11. Rest Of MEA
  12. LATAM Market Analysis
    1. Introduction
    2. Technology Outlook
      1. Introduction
        1. Technology Outlook By Value
      2. Time Domain OCT (TDOCT)
        1. By Value
      3. Frequency Domain OCT (FD-OCT)
        1. By Value
      4. Spatial Encoded Frequency Domain OCT
        1. By Value
        2. Fourier Domain OCT (FDOCT)
          1. Fourier Domain OCT (FDOCT) By Value
        3. Others
          1. Others By Value
    3. Type Outlook
      1. Introduction
        1. Type Outlook By Value
      2. Catheter-Based OCT Devices
        1. By Value
      3. Doppler OCT Devices
        1. By Value
      4. Handheld OCT Devices
        1. By Value
      5. Tabletop OCT Devices
        1. By Value
    4. Application Outlook
      1. Introduction
        1. Application Outlook By Value
      2. Ophthalmology
        1. By Value
      3. Cardiovascular
        1. By Value
      4. Oncology
        1. By Value
      5. Dermatology
        1. By Value
      6. Others
        1. By Value
    5. Brazil
    6. Mexico
    7. Argentina
    8. Chile
    9. Colombia
    10. Rest Of LATAM
  13. Competitive Assessment
    1. Adoption Matrix
    2. Optical Coherence Tomography Market Share By Manufacturers
    3. Optical Coherence Tomography Market Ranking By Revenue For Manufacturers
    4. Average Price By Manufacturers
    5. Vendor Footprint Analysis
  14. Market Players Assessment
    1. Afga Healthcare
      1. Overview
      2. Business Information
      3. Revenue
      4. ASP
      5. Gross Margin
      6. Swot Analysis
      7. Recent Developmments
    2. Carl Zeiss Meditec AG
    3. Heidelberg Engineering GmbH
    4. Imalux Corporation
    5. Michelson Diagnostics
    6. Novacam Technologies Inc.
    7. OPTOPOL Technology S.A.
    8. Topcon Medical Systems
    9. Thorlabs Inc.
  15. Research Methodology
    1. Research Data
      1. Secondary Data
        1. Major Secondary Sources
        2. Key Data From Secondary Sources
      2. Primary Data
        1. Key Data From Primary Sources
        2. Breakdown Of Primaries
      3. Secondary And Primary Research
        1. Key Industry Insights
    2. Market Size Estimation
      1. Bottom-Up Approach
      2. Top-Down Approach
      3. Market Projection
    3. Research Assumptions
      1. Assumptions
    4. Limitations
    5. Risk Assessment
  16. APPENDIX
    1. Discussion Guide
    2. Customization Options
    3. Related Reports
  17. DISCLAIMER


Table of Content and Figure @ https://straitsresearch.com/report/optical-coherence-tomography-market/toc


Recent Developments

  • In July of 2021 , Canon Singapore introduced the Xephilio OCT-S1, an innovative wide-field swept-source optical coherence topography capable of capturing high-resolution images of up to 23 mm by 20 mm in a single scan.
  • Perimeter Medical Imaging AI, Inc. announced in June 2021 that it had successfully transferred its manufacturing process for the production of its optical coherence tomography (OCT) imaging systems to Minnetronix Medical.
  • In November 2020 , Leica Microsystems will launch its next-generation EnFocus intraoperative Optical Coherence Tomography (OCT) solution to support surgical workflow and assist ophthalmic surgeons in concentrating on perfection during anterior and posterior segment surgeries.
  • The first optical coherence tomography virtual reality product will be announced by Abbott in 2020. Cardiologists will use this information for training purposes.


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About Straits Research Pvt. Ltd.

Straits Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision-making and ROI.

Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client’s purchase. We overcome our clients’ issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.


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GlobeNewswire
June 6, 2023 - 9:00 AM PDT
News by QuoteMedia
www.quotemedia.com

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