“The Global Optical Coherence Tomography Market was valued around US$ 735.3 Mn in 2017 and growing at a significant CAGR over ten years forecast period 2018-2027 owing to increase in the demand for non-invasive diagnostic methods ”
Optical Coherence Tomography Market: By Product Type (Portable/Handheld, Table Top) By Application (Ophthalmic Diagnosis, Dermatology) By Technology (Spectral Domain OCT, Swept Source OCT) By End-User (Hospitals, Clinics, Others) By Geography (North America , Europe , Asia-Pacific , Latin America , The Middle East and Africa (MEA)– Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013 to 2017 and Forecast 2018 to 2024
Market Dynamics: Optical Coherence Tomography Market
Optical Coherence Tomography (OCT) is an emerging innovative medical technology, which enables offer high resolution, cross sectional tomographic images of biological systems. OCT is a type of optical biopsy, does not require removal of tissue specimen as conventional histopathology. Burgeoning geriatric population around the world is expected to accelerate demand for OCT market. In accordance with WHO, population above 65 years were 13% in 2010, and expected to reach 53% by 2020. Furthermore, increase in prevalence of chronic diseases such as diabetes, diabetic retinopathy, cardiovascular diseases, skin cancers, and prostate cancer are witnessed to catapult the market growth of OCT. Moreover, presence of favorable reimbursements, advancements in the technology, and increase in R&D investments are further propels the OCT market. On the other hand, lack of awareness, high installation costs, high cost of testing, and dearth of skilled professionals restrains the growth of OCT market.
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Market Scope: Optical Coherence Tomography Market
Optical Coherence Tomography market is segmented on the basis of type and geographical regions
Based on the Technology, Optical Coherence Tomography market is segmented into the following
- Fourier Domain OCT
- Swept-Source OCT or Optical Fourier Domain Imaging
- Spectral Domain OCT
Based on the Device Type, Optical Coherence Tomography market is segmented into the following
- Tabletop OCT Devices
- Handheld OCT Devices
Based on the Application, Optical Coherence Tomography market is segmented into the following
- Glaucoma
- Diabetic Retinopathy
- Oncology
- Dermatology
- Others
Based on the End User, Optical Coherence Tomography market is segmented into the following
- Hospitals
- Ambulatory Surgical Centres
- Diagnostic Centres
- Research Institutes
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Regional Analysis: Optical Coherence Tomography Market
Geographically, Optical Coherence Tomography market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America is expected to account for major revenue share for OCT followed by Europe due to high adoption of state-of-art technologies, increase in the complications such as diabetic retinopathy, skin cancers, well established healthcare infrastructure, favorable reimbursement policies, and rapid increase in geriatric population. Asia Pacific and Latin America are anticipated to show unprecedented growth rate, owing to increase in awareness among people, huge population pool, rise in number of geriatric patients, presence of emerging economies such as Brazil, India, China, Japan.
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Competition Assessment: Optical Coherence Tomography Market
Key Players profiles in the global Optical Coherence Tomography market include
- Leica Microsystems (Germany)
- Carl Zeiss Meditec AG (Germany)
- Topcon Corporation (Japan)
- Novacam Technologies Inc. (Canada)
- Heidelberg Engineering GmbH (Germany)
- Thorlabs Inc. (U.S)
- OPTOPOL Technology S.A.
- Agfa Healthcare (Belgium)
- NIDEK CO., LTD (Japan)
- Optovue, Incorporated (U.S.)
Notable Market Developments: Optical Coherence Tomography Market
- In April 2017, Optovue launched OCT angiography for ophthalmology to provide high resolution and peripheral visualization of eye vasculature during detection of eye macular edema.
- In October 2016, Optopol Technology and BiB Ophthalmic Instruments, an UK based company entered into a partnership to distribute OCT systems in UK.
- In August 2016, Throlabs introduced two modified components for OCT super luminescent diode and polarization dependent isolator.
- In 2013, Car Zeiss launched HD-OCT 5000
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2012-2016) and forecast (2017-2023)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
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