Press Release

Optical Coherence Tomography Market to Grow with a CAGR of 7.25% Globally through 2028

Increasing prevalence of eye diseases and expanding research and development initiatives are factors driving the Global Optical Coherence Tomography Market in the forecast period 2024-2028.

According to TechSci Research report, “Optical Coherence Tomography Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Optical Coherence Tomography Market stood at USD 1.52 billion in 2022 and is anticipated to grow with a CAGR of 7.25% in the forecast period, 2024-2028. The Global Optical Coherence Tomography (OCT) market has been on a remarkable growth trajectory in recent years, and this trend is expected to continue in the foreseeable future. Optical Coherence Tomography, a non-invasive imaging technology, has gained significant traction in various medical applications, especially in ophthalmology and cardiology. One of the primary drivers for the growth of the Global OCT market is the rising prevalence of eye diseases, such as glaucoma, age-related macular degeneration, and diabetic retinopathy. As the global population ages and the incidence of diabetes continues to increase, the demand for early diagnosis and effective management of these eye conditions has surged. OCT technology has proven to be invaluable for the high-resolution imaging of ocular tissues, enabling early disease detection and monitoring. This has led to the increasing adoption of OCT devices in ophthalmology, boosting market growth.

 

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Global Optical Coherence Tomography Market

 

The OCT technology has evolved significantly in recent years, with continuous advancements in imaging quality, speed, and versatility. The development of spectral domain OCT (SD-OCT) and swept-source OCT (SS-OCT) has enhanced image resolution and reduced examination times, making OCT more efficient and accessible. Additionally, the integration of OCT with other imaging modalities, such as OCT angiography and adaptive optics, has expanded its capabilities, leading to increased adoption in various medical fields. OCT's applications have extended beyond ophthalmology to cardiology, where it plays a vital role in intravascular imaging. In the field of interventional cardiology, OCT is used for the assessment of coronary artery diseases and stent deployment. With a higher resolution than traditional angiography, OCT provides detailed insights into vessel pathology, plaque morphology, and stent apposition. The increasing prevalence of heart diseases, coupled with the need for precise diagnosis and treatment, has boosted the demand for OCT devices in the cardiology sector.

The OCT market has benefited from substantial investments in research and development. Academic institutions, medical device companies, and government agencies are actively involved in research to enhance OCT technology and explore new applications. These initiatives lead to the development of cutting-edge OCT systems, driving market growth. In addition, research collaborations and partnerships facilitate knowledge exchange and the development of innovative solutions.

The Global Optical Coherence Tomography Market is segmented into type, technology, application and company.

Based on type, the Handheld OCT Devices segment has emerged as the predominant market leader. The demand for handheld OCT devices is steadily rising. Medical professionals are keen on integrating OCT into their practice due to the convenience and mobility offered by these devices. This growing demand is a strong indicator of their market dominance. Handheld OCT device manufacturers have been able to capture a substantial portion of the market share. This has led to increased competition, fostering innovation and driving down the cost of these devices, making them more affordable and accessible.

Based on region, North America segment is expected to grow during the forecast period.  The prevalence of diseases that can be diagnosed and managed using OCT technology is on the rise in North America. For instance, in ophthalmology, conditions like age-related macular degeneration (AMD) and glaucoma are becoming increasingly common, creating a significant demand for OCT devices. Additionally, OCT's applications in cardiology for assessing coronary artery diseases and in dermatology for skin cancer diagnosis have led to an increased adoption of this technology. North America has been a hub for OCT-related research and development initiatives. Public and private organizations invest heavily in advancing OCT technology, which, in turn, has led to a wide range of innovative applications. These initiatives not only improve the quality of patient care but also help the OCT market grow by expanding its areas of application.

The Asia Pacific region is experiencing rapid market growth. Collaborations and partnerships between academic institutions, medical centers, and industry players have driven innovation in the OCT field. These partnerships have facilitated the exchange of knowledge and resources, resulting in the development of cutting-edge OCT technology. The collective efforts of academia and industry have played a crucial role in North America's leadership in the global OCT market.

Major companies operating in Global Optical Coherence Tomography Market are:

  • Agfa - Gevaert Group
  • Carl Zeiss Meditec AG
  • Heidelberg Engineering GmbH
  • Imalux Corp.
  • Michelson Diagnostics
  • Novacam Technologies, Inc.
  • OPTOPOL Technology S.A.
  • Metall Zug AG
  • Topcon Corporation
  • Thorlabs, Inc

 

Download Free Sample Report

Customers can also request for 10% free customization on this report

 

“The Global Optical Coherence Tomography market is witnessing remarkable growth, driven by a confluence of factors. The increasing prevalence of eye diseases, advancements in OCT technology, its expanding applications in cardiology, dermatology, and gastroenterology, as well as the growing geriatric population, all contribute to the robust growth of the market. Additionally, ongoing research and development initiatives continue to push the boundaries of OCT technology, ensuring its relevance in various medical fields. As the healthcare industry increasingly recognizes the value of OCT in early diagnosis and precise treatment, the global OCT market is poised for continued expansion in the coming years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Global Optical Coherence Tomography Market By Type (Catheter based OCT Devices, Doppler OCT Devices, Handheld OCT Devices, Tabletop OCT Devices), By Technology  (Time Domain OCT (TDOCT), Frequency Domain OCT (FD-OCT), Spatial Encoded Frequency Domain OCT), By Application (Ophthalmology, Cardiovascular, Oncology, Dermatology, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Optical Coherence Tomography Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Optical Coherence Tomography Market.

 

Contact Us-

TechSci Research LLC

420 Lexington Avenue, Suite 300,

New York, United States- 10170

M: +13322586602

Email: [email protected]

Website: www.techsciresearch.com

Relevant News