Global Optical Coherence Tomography Market By Technology Type (Time Domain OCT (TDOCT), Frequency Domain OCT (FD-OCT), and Others), By Type (Catheter Based OCT Devices, and Others), By Application Type (Ophthalmology, Cardiovascular, and Other Applications), and by Region and Companies Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032.

Optical Coherence Tomography Market Overview:

The global optical coherence tomography market value was USD 1,354 million by 2021. The compound annual growth rate (CAGR) of 16.51% is projected for 2022-2032.

OCT market growth will be driven by the constant innovation and development in new technologies, rising demand, diagnosis of eye diseases, and higher prices for drug delivery. Market growth may be limited by the lack of favorable reimbursement policies, clinical information, and other factors.

Global Optical Coherence Tomography Market Scope:

Technology Analysis

The largest revenue share was 37.2% for frequency-domain optical coordination tomography (FDOCT) in 2021. Frequency domain optical coherence tomography (FD-OCT) systems are primarily based on the measurement of the interference spectrum. They are also known as spectral-domain OCT or SD-OCT. The spectral-domain OCT utilizes interferometric signs to aid imaging, increasing the speed 50 times. This will allow for more images per unit area and increase market penetration in the future years.

The forecast period will see the highest CAGR at 15.94% for time-domain optical coordination tomography. Time-domain optical coherence tomography (TD-OCT) is the traditional method for examining the retinal screens of the eyes.

DOC is used for determining the retinal thickness. It measures the distance between a hyper-reflective and an internal limiting band. It can be used to diagnose macular holes and macular pucker and vitreomacular traction, and macular edema.

Type Analysis

Handheld OCTs are a combination of microelectromechanical systems (MEMS) with 3D imaging to help in the early detection of multiple eye disorders. This is useful in detecting macular degeneration and diabetic retinopathy. With 46.3% of the market, handheld OCTs accounted for the most significant portion in 2021.

Doppler OCT devices are projected to expand at the highest annual rate of 16.88% over the forecast period. This can be attributed to their widespread use in dermatology, ophthalmology, and gastrointestinal endoscopy and their ability to image dynamic flow parameters, such as pulsatility and reduced processing time.

The traditional OCT tabletop devices scan the retina to detect any eye diseases. Tabletop OCTs need proper infrastructure and are not portable.

Application Analysis

Ophthalmology had a 59.6% share in 2021. Ophthalmology is predicted to experience rapid growth because of increasing incidences of retinal and other choroidal diseases. This leads to increased use of optical coherent tomography (OCT) devices by ophthalmologists to diagnose and image. Due to the increasing prevalence of cataracts and glaucoma, more people will opt for OCT devices for diagnosis and treatment. This is expected to boost the market.

The fastest CAGR was recorded in dermatology at 21.37% during this forecast period. This is due to the rise in skin disorders, and OCT is used to diagnose conditions such as solid tumors.

Market Segments:

By Technology

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

By Type

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

By Application

• Ophthalmology
• Cardiovascular
• Oncology
• Dermatology
• Other Applications

Market Dynamics:

optical coherent tomography (OCT), a rapidly evolving technology that allows for high-resolution cross-sectional images, is growing. optical coherence tomography (OCT) uses light for cross-sectional imaging of tissue structures in situ and in real-time on the micron level.

OCT is a noninvasive imaging technique used to perform an optical biopsy. It can be used in areas where traditional imaging techniques may not work. OCT can be integrated with various instruments like laparoscopes and other medical devices such as catheters, surgical probes, endoscopes, and laparoscopes. It allows imaging of the entire body. OCT is a highly portable and lightweight device expected to be a driving force shortly.

The COVID-19 epidemic has caused an enormous increase in demand for medical supplies. These devices include oxygen generators, atomizers, monitors, and life-support machines. OCT angiography (or optical coherence tomography) visualizes the retinal vascular change in Covid-19 patients.

OCT system makers are struggling to maintain production. In addition to looking for new ways to grow their market presence, mergers and acquisitions are possible. These market players’ initiatives could be a positive factor for the market over the next year.

World Health Organization (WHO), estimates that almost 2.3bn people will experience vision loss from untreated medical conditions in 2019. These include cataracts and refractive errors as well as corneal opacities, glaucoma, diabetic retinopathy, glaucoma, trachoma, and corneal opacities. The increasing prevalence of eye conditions anticipates global optical coherence-tomography market growth.

Optic coherence tomography can help diagnose major health conditions, such as cardiovascular diseases and non-melanoma, sun cancer, prostate carcinoma, and age-rated Macular Disease. To diagnose and monitor these conditions, it is necessary to use non-invasive and in vivo image technology. The optical coherence photography market is expected to be driven by continuous innovation and strong demand from the developing world for OCT imagery.

Regional Analysis

North America is worth US$ 511.1 million in 2021. It will grow at a CAGR OF 14.70% in the forecast period. The Asia Pacific accounted for the second-largest market share in 2021.

The forecast period will see 16.70% growth in the region. It can be attributed to a variety of factors including the increasing incidence of chronic disorders, high use of advanced technology, large elderly population, increased reimbursement for surgical procedures, and growing demand for minimally invasive procedures. Further, the growing knowledge about eye diseases is expected to drive the growth of the OCT market in the region.

Кеу Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

It is a fragmented market with fierce competition at the global level. Global players have adopted a variety of initiatives, including strategic partnerships with local distributors and regional-based variants. In order to meet the market demand, large companies are investing in R&D.

Abbott 2020 announced the launch of the first optical coherent tomography virtual real product. This product was intended for cardiologists’ training. TOPCON Canada Inc. introduced 3D Maestro2, a new spectral-domain optical coherence tomography system with optional coherence tomography angiography, in 2019:

Market Key Players:

• 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.
• Other Key Players

For the Optical Coherence Tomography Market research study, the following years have been considered to estimate the market size: