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Home ➤ Life Science ➤ Medical Devices & Supplies ➤ Optical Coherence Tomography Market
Optical Coherence Tomography Market
Optical Coherence Tomography Market
Published date: Apr 2023 • Formats:
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  • Home ➤ Life Science ➤ Medical Devices & Supplies ➤ Optical Coherence Tomography Market

Global Optical Coherence Tomography Market, By Product Type (Handheld OCT Devices, Tabletop OCT Devices, Catheter-Based OCT Devices, Doppler OCT Devices, and Other Products), By Application (Dermatology, Ophthalmology, Cardiovascular, Oncology, and Other Applications), By Technology (Time Domain OCT (TD-OCT), Frequency Domain OCT (FD-OCT), Spatial Encoded Frequency Domain OCT (SD-OCT)), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

  • Published date: Apr 2023
  • Report ID: 50691
  • Number of Pages: 204
  • Format:
  • Overview
  • Table of Contents
  • Major Market Players
  • Request a Sample
  • Quick Navigation

    • Report Overview
    • Driving Factors
    • Restraining Factors
    • Growth Opportunities
    • Trending Factors
    • COVID-19 Impact Analysis
    • Product Type Analysis
    • Application Analysis
    • Technology Analysis
    • Key Market Segments:
    • Regional Analysis
    • Market Share & Key Players Analysis:
    • Report Scope:

    Report Overview

    In 2022, the Global Optical Coherence Tomography market was valued at US$ 3.0 Billion and expected to grow US$ 10.5 Billion in 2032.  Between 2023 and 2032, this market is estimated to register a CAGR of 13.7 %.

    OCT is a fibre-optics-based technology that can be integrated with tools such as catheters, endoscopes, laparoscopes, and surgical probes to provide body imaging. It is used to analyze deeper tissues found in the eyes, skin, and heart. The increasing population and growing demand for optical coherence tomography (OCT)  in drug delivery are significant factors anticipated to drive the expansion of the optical coherence tomography market. Growing global awareness of retinal disease will also likely create more chances for the optical coherence tomography (OCT) market to expand.

    Global Optical Coherence Tomography Market

    Driving Factors

    There are a number of factors that could propel the Optical Coherence Tomography (OCT) market expansion, such as increase in the cancer patient population, geriatric population, the addition of optical coherence imaging techniques into dosage forms, early diagnosis methods being added, advanced medical centers adopting OCT technologies and eye illnesses becoming more widespread. Furthermore, demand is being driven by expansion in applications such as crucial imaging procedures; sales agreements; collaborations; and takeovers by major Key market players.

    Restraining Factors

    The main inhibitors in the worldwide market for optical coherence tomography are the lack of a supporting medical reimbursement structure and the scarcity of clinical data. For businesses operating in the global market, a lack of effective tools and a paucity of qualified and competent personnel who are not familiar to utilize the tools of optical coherence tomography can also provide a significant barrier.

    Growth Opportunities

    New Opportunities will be created as Technological Advancements

    The range of neoplastic and inflammatory skin disorders for which optical coherence tomography (OCT) is effective is being expanded due to significant investments in research and development by major optical coherence tomography device manufacturers. Development in OCT systems with the best speed and resolution is being introduced. During the following few years, this will continue to fuel the growth of the Optical Coherence Tomography market. Due to its rising use for analytical and quality control applications across sectors and its non-destructive, contactless nature, as well as the swift growth of the OCT imaging systems market, optical coherence tomography is also anticipated to increase market share in the coming years. Inline optical coherence tomography examination of multilayered objects during production processes has produced encouraging results.

    Trending Factors

    New advances in optical coherence tomography technology are driving the market expansion. OCT, a rapidly growing high-resolution cross-sectional image processing, offers image processing at the micron scale. For in-situ and real-time cross-sectional imaging of tissue structure at the nanoscale, light is employed; providing non-invasive optical biopsies when other methods fail. OCT, which utilizes fiber optics-based technology, can be integrated into various medical instruments like laparoscopes, catheters, surgical probes, and endoscopes providing body imaging through small, portable devices.

    COVID-19 Impact Analysis

    Due to the decline in patients, more medical supplies are necessary. Respiratory support devices like oxygen generators, monitors, and atomizers are among the most frequently employed medical items during primary clinical care. The COVID-19 pandemic has had a devastating effect on the optical coherence tomography market, as healthcare facilities are currently focused on treating affected persons and stopping its spread. As a result, many people with various illnesses go untreated; production was even temporarily suspended due to an increase in COVID-19 cases. Despite these challenges, this sector will grow over the coming years despite increases in non-melanoma skin cancer, diabetic retinopathy, and cardiovascular disease cases.

    Product Type Analysis

    The market statistic for optical coherence tomography has been divided into Handheld OCT Devices, Catheter-based OCT Devices, Tabletop OCT Devices, Doppler OCT Devices, and Doppler OCT Devices. The Handheld category dominated the market in 2022 and is anticipated to expand at the fastest rate from 2022 to 2032. Microelectromechanical Systems (MEMS) and 3D imaging are used in handheld OCT devices to aid in the early diagnosis of a number of eye conditions, such as macular degeneration, diabetic retinopathy, and glaucoma. Hence, portable OCT devices will improve bedside monitoring management in the years to come. Due to the rising need for pharmacokinetic services to assist with toxicological testing for IND-enabling studies, this industry has experienced profitable expansion.

    Application Analysis

    Cardiovascular, ophthalmology, dermatology, and oncology are included in the market segmentation for optical coherence tomography based on application. The ophthalmology sector dominated the market in 2022 and is anticipated to expand at the fastest rate from 2022 to 2032. It is anticipated that as choroidal and retinal problems become more common, ophthalmologists will employ optical coherence tomography imaging and diagnostic tools more frequently. Moreover, the market will expand in the next years because of the rising significance and awareness of early illness identification and improved treatment choices using OCT devices. Ophthalmology is the most important application for OCT devices during the course of the research, and it is anticipated to account for the greatest market revenue share.

    Optical Coherence Tomography market share

    Technology Analysis

    The Sd-Oct and Swept-Source Oct market segments of optical coherence tomography are based on technology. By accounting for 65–67% of the revenue generated by the optical coherence tomography market in 2022, the Sd–Oct segment had the greater share. Sd-Oct is an interferometric technique that, by examining the spectrum of the sequence of the interference fringe, may deliver depth-resolved tissue data structures that are encrypted in the size and deferral of backscattered light. Moreover, Sd-Oct technology, unlike temporal domain (TD) OCT, provides extremely fast optical coherence tomographic imaging. The rapid operational speed and great sensitivity of Sd-Oct make it indispensable for biological imaging applications.

    Key Market Segments:

    Based on Product Type

    • Handheld OCT Devices
    • Tabletop OCT Devices
    • Catheter Bases OCT Devices
    • Doppler OCT Devices
    • Other Products

    Based on Application

    • Dermatology
    • Ophthalmology
    • Cardiovascular
    • Oncology
    • Other Applications

    Based on Technology

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

    Regional Analysis

    In North America optical coherence tomography market is forecasted to grow at a CAGR, reaching $1.05 billion by 2022. Due to factors such as an aging population, increasing approvals and R&D spending, an enthusiasm for adopting more recent products in the United States, hospital expansion plans, and strong healthcare infrastructure. Recently Topcon Canada Inc. (Canada) unveiled their 3D Maestro2 optical coherence tomography system with an ophthalmoscope function as one example; additionally, diabetic retinopathy rates and the abundance of wealthy business people make the United States one of the most sought-after markets for optical coherence tomography technology.

    Optical Coherence Tomography market region

    Key Regions and Countries Covered in this Report:

    • North America
      • The US
      • Canada
      • Mexico
    • Western Europe
      • Germany
      • France
      • The UK
      • Spain
      • Italy
      • Portugal
      • Ireland
      • Austria
      • Switzerland
      • Benelux
      • Nordic
      • Rest of Western Europe
    • Eastern Europe
      • Russia
      • Poland
      • The Czech Republic
      • Greece
      • Rest of Eastern Europe
    • APAC
      • China
      • Japan
      • South Korea
      • India
      • Australia & New Zealand
      • Indonesia
      • Malaysia
      • Philippines
      • Singapore
      • Thailand
      • Vietnam
      • Rest of APAC
    • Latin America
      • Brazil
      • Colombia
      • Chile
      • Argentina
      • Costa Rica
      • Rest of Latin America
    • Middle East & Africa
      • Algeria
      • Egypt
      • Israel
      • Kuwait
      • Nigeria
      • Saudi Arabia
      • South Africa
      • Turkey
      • United Arab Emirates
      • Rest of MEA

    Market Share & Key Players Analysis:

    Optical coherence tomography is a non-invasive optical diagnostic method. This OCT uses interferometry, a technique that uses near-infrared light to create a cross-sectional image of the retina. Optical coherence tomography, which is also employed in heart and vascular medicine for cardiac catheterization and cancer research, may assess the thickness of your retina and optic nerve. Moreover, it can be used to diagnose and manage conditions including glaucoma and diabetes-related retinopathy. OCT can aid in the diagnosis of conditions such as macular pucker, age-related macular degeneration, glaucoma, cystoid macular edema, etc.

    Recent Developments:

    • The Alcon Fidelis Virtual Reality (VR) Ophthalmic Surgical Simulator, a transportable VR tool for aspiring cataract surgeons, will be released in April 2022 as a supplement to Alcon’s existing training and educational programmers.
    • Haag-Streit UK (HS-UK) introduced its OptovueiScan80 in the nation in January 2022. It is a high-speed OCT system that is perfect for clinics looking for a cost-effective and adaptable OCT system. The iScan80’s compact form makes it perfect for tight places since it combines the operator console, display, patient console, and scan head into one console.

    Market Key Players:

    • Carl Zeiss AG
    • Alcon
    • Abbott Laboratories
    • Terumo Corporation
    • Koninklijke Philips N.V.
    • Braun Melsungen AG
    • Boston Scientific Corporation
    • Topcon Corporation
    • Nidek Co. Ltd
    • Novacam Technologies Inc
    • Agfa Healthcare
    • Heidelberg Engineering Gmbh
    • Imalux Corp
    • Michelson Diagnostics
    • Optopol Technology S.A.
    • Thorlabs, Inc.
    • Optovue Inc.
    • Moptim Imaging Technique
    • Sonostar Technologies Co. Limited
    • Canon Medical Systems
    • Excelitas Technologies Corp
    • Other Key Players

    Report Scope:

    Report FeaturesDescription
    Market Value (2022)US$ 3.0 Bn
    Forecast Revenue (2032)US$ 10.5 Bn
    CAGR (2023-2032)13.7%
    Base Year for Estimation2022
    Historic Period2016-2022
    Forecast Period2023-2032
    Report CoverageRevenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments
    Segments CoveredBy Product type, By Application, By Technology
    Regional AnalysisNorth America – The US, Canada, & Mexico; Western Europe – Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, & Rest of Western Europe; Eastern Europe – Russia, Poland, The Czech Republic, Greece, & Rest of Eastern Europe; APAC – China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, & Rest of APAC; Latin America – Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA
    Competitive LandscapeCarl Zeiss AG, Alcon, Abbott Laboratories, Terumo Corporation Koninklijke Philips N.V., Braun Melsungen AG, Boston Scientific Corporation, Topcon Corporation, Nidek Co. Ltd, Novacam Technologies Inc, Agfa Healthcare, Heidelberg Engineering Gmbh, Imalux Corp, Michelson Diagnostics, Optopol Technology S.A., Thorlabs, Inc., Optovue Inc., Moptim Imaging Technique, Sonostar Technologies Co. Limited, Canon Medical Systems, Excelitas Technologies Corp, Other Key Players.
    Customization ScopeCustomization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements.
    Purchase OptionsWe have three licenses to opt for: Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF)
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    Frequently Asked Questions (FAQ)

    Q: What is the optical coherence tomography market size in 2021?

    A: The market for optical coherence tomography size is $ 1,354 million for 2021.

    Q: What is the CAGR for the optical coherence tomography market?

    A: The optical coherence tomography market is expected to grow at a CAGR of 16.51% during 2023-2032.

    Q: What are the segments covered in the optical coherence tomography market report?

    A: Market.US has segmented the global optical coherence tomography Market Value (US$ Mn) Analysis by Region, 2022 market by geographic (North America, Europe, APAC, South America, and Middle East and Africa). By technology, market has been segmented into Time Domain OCT (TDOCT), Frequency Domain OCT (FD-OCT), Spatial Encoded Frequency Domain OCT, by type, market has been further divided into Catheter Based OCT Devices, Doppler OCT Devices, Handheld OCT Devices, Tabletop OCT Devices, by application market has been segmented into Ophthalmology, Cardiovascular Oncology, Dermatology, & Other Applications.

    Q: Who are the key players in the optical coherence tomography market?

    A: Bombardier Inc., Dassault Aviation, 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 are the key vendors in the optical coherence tomography market

    Q: Which region is more attractive for vendors in the optical coherence tomography market?

    A North America is expected to account the highest revenue share of 511.1 Mn among the other regions and it will grow at a CAGR OF 14.70% in the forecast period. Therefore, the optical coherence tomography market in North America is expected to garner significant business opportunities for the vendors during the forecast period.

    Q: What are the key markets for optical coherence tomography?

    A: Key markets for optical coherence tomography are the USA, India, China, and Germany.

    Q: Which segment has the largest share in the optical coherence tomography market?

    A: In the optical coherence tomography market, vendors should focus on grabbing business opportunities from the Frequency Domain OCT (FD-OCT) segment as it accounted for the largest market share in the base year.

    Optical Coherence Tomography Market
    Optical Coherence Tomography Market
    Published date: Apr 2023
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    • Carl Zeiss AG
    • Alcon
    • Abbott Laboratories
    • Terumo Corporation Company Profile
    • Koninklijke Philips N.V.
    • B. Braun Melsungen AG Company Profile
    • Boston Scientific Corporation Company Profile
    • Topcon Corporation
    • Nidek Co. Ltd
    • Novacam Technologies Inc
    • Agfa Healthcare
    • Heidelberg Engineering Gmbh
    • Imalux Corp
    • Michelson Diagnostics
    • Optopol Technology S.A.
    • Thorlabs, Inc.
    • Optovue Inc.
    • Moptim Imaging Technique
    • Sonostar Technologies Co. Limited
    • Canon Medical Systems
    • Excelitas Technologies Corp
    • Other Key Players
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