+91-8668442535

Optical Coherence Tomography Market By Application (Diagnosis, Life science Research), By Technology (Time-domain OCT (TD-OCT), Spectral-domain OCT (SD-OCT) or Fourier-domain OCT(FD-OCT), Others) - Growth, Future Prospects & Competitive Analysis, 2017 - 2025

Optical coherence tomography (OCT) is a non-invasive imaging technology to obtain detailed pictures of biological tissue, and this high-resolution procedure involves near-infrared light, unlike ultrasound. The wide range of applications of OCT has evolved with time from ophthalmology to cardiology, dermatology, and the research field of life sciences in order to study the internal structure. The OCT device's accurate and precise visualization increases its demand and, as a result, its market.

The increasing prevalence of chronic diseases and vision impairment needs detailed diagnosis involving an OCT device, which drives the growth of the optical coherence tomography market. The favorable medical reimbursement policy is also responsible for propelling the growth of the optical coherence tomography market. The increasing healthcare expenditure in R&D, along with rising competition among different manufacturers to develop innovative products, are the driving forces of the optical coherence tomography market and are expected to boost growth in the upcoming years. It is expected that advancements in existing technologies or a better version of the OCT device will drive the market in the future by removing current constraints.

The purpose of this research study titled "Optical Coherence Tomography Market: Growth, Future Prospects, and Competitive Analysis, 2017–2025" is to provide investors, developers, company executives, and industry participants with in-depth analysis to allow them to take strategic initiatives and decisions related to the prospects in the global optical coherence tomography market. This report presents and analyses the major trends prevalent in the global optical coherence tomography market and the market's size and forecast.

This report categorizes the global optical coherence tomography market in terms of technology type, application, and geographical distribution.

In terms of technology, the optical coherence tomography market is classified as follows:

  • Time-domain OCT (TD-OCT)
  • Spectral-domain OCT (SD-OCT) or Fourier-domain OCT (FD-OCT)
  • Others

Based on the applications of OCT, the optical coherence tomography market is categorized as follows:

Diagnosis

  • Ophthalmology
  • Cardiology
  • Bronchoscopy
  • Dermatology
  • Others

Life science research

Geographically, the optical coherence tomography market is best understood by segmenting it into five major regions and five major region-level markets, which are as follows:

North America

  • U.S.
  • Canada

Europe

  • U.K.
  • Germany
  • Rest of Europe

Asia Pacific

  • Japan
  • China
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Mexico
  • rest of Latin America

Middle East and Africa

  • GCC
  • Rest of the Middle East and Africa 

The market size and forecast for each considered geographical market for the period 2015-2025 are presented, along with CAGRs for the forecast period 2017-2025, and are further cross-sectional presented in terms of the type of technology, type of application, and constituent region/country level markets.

This report also includes qualitative assessment factors such as market dynamics (drivers, restraints, and opportunities) to have a good understanding of the current and anticipated trends in the global optical coherence tomography market. Competition assessment tools such as major agreements, partnerships, and collaborations, market attractiveness assessment, and competitive landscape analysis by key players are also demonstrated in the study. Furthermore, this report includes a profile of key market players currently enjoying prominent positions in the optical coherence tomography market. The major players profiled in this report are Carl Zeiss Meditec AG, Optovue, Michelson Diagnostics Ltd., Heidelberg Engineering GmbH, Topcon Medical Systems Inc., Novacam Technologies Inc., Agfa Healthcare, Thorlabs Inc., and others.

The diagnosis segment held the largest share of the optical coherence tomography market. The ophthalmology segment has been observed to contribute significantly to the growth of the optical coherence tomography market. The use of OCT devices among ophthalmologists is becoming more popular as it enables surgeons to make better surgical decisions and provides improved patient outcomes. Cardiovascular diseases are the most common cause of death across the globe. The application of OCT devices is increasing in cardiology with expanding cases of atherosclerosis or myocardial infarction in order to diagnose plaques at the earliest stage.

OCT has been shown to be a very useful tool in dermatology, especially in the diagnosis of skin cancer, skin infections, or any inflammatory skin diseases. The real-time structural images of the skin obtained from optical coherence tomography improve diagnostic procedures. The simple and efficient application of optical coherence tomography, along with high-resolution, detailed images of skin, makes the treatment easier and drives the optical coherence tomography market to grow significantly.

The optical coherence tomography market is predicted to witness substantial growth on account of emerging biomedical applications in the research field of life science.

B-domain OCT (SD-OCT) or Fourier-domain OCT (FD-OCT):

Time-domain OCT was the first optical coherence tomography to be invented and commercially available. Time-domain OCT is sensitive, but it is slow to acquire data. However, the latest emerging technology, spectral-domain OCT or Fourier-domain OCT, caused significant changes in the OCT market. The accuracy of data, improved image quality, and high-speed technology of SD-OCT all contribute to the growth of the optical coherence technology market. The advancement in recent technology of SD-OCT overcomes the limitations of TD-OCT and increases competition among manufacturers, which in turn drives the OCT market to grow substantially. Swept-source OCT is a type of SDOCT where a laser is deployed and is preferred in biomedical applications on account of its high speed and improved resolution. Micro OCT is one of the optical coherence tomography technologies commercially available with the highest image resolution, which is predicted to drive the OCT market in the upcoming years.

 By geography, the global optical coherence tomography (OCT) market is cumulative for North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.

Geographically, North America is anticipated to dominate the global market for optical coherence tomography, followed by Europe. The prevalence of diseases is proportionate to the growing geriatric population, which drives the optical coherence tomography market to grow. The increasing expenditure in R&D for innovative and improved optical coherence tomography devices is predicted to positively influence the optical coherence tomography market. Growing initiatives are taken by the healthcare system and various government organizations for the betterment of public health fuel the growth of the OCT market. Increasing health awareness among the public and favorable reimbursement are driving the optical coherence tomography market to grow in this region. The Asia-Pacific region is expected to witness lucrative growth in the forecast period due to increasing development in research, market penetration by manufacturers, and healthcare awareness promotion.

The detailed regional classification of the global optical coherence tomography market is as follows:

  • North America (U.S. and Canada)
  • Europe (Germany, U.K., France, Spain, Italy, and the Rest of Europe)
  • Asia Pacific (China, India, Japan, and the Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and the Rest of Latin America)
  • Middle East and Africa (GCC plus the rest of the Middle East and Africa)

Frequently Asked Question:

The market for Optical Coherence Tomography Market is expected to reach USD$ 1,666.6 Mn in 2025.

The Optical Coherence Tomography Market is expected to see significant CAGR growth over the coming years, at 6.75%.

The report is forecasted from 2017 -2025.

The base year of this report is 2016.

B. Braun Melsungen AG, Boston Scientific Corporation, BIOTRONIK SE & Co. KG, C.R. Bard, Cook Medical. are some of the major players in the global market.

Choose License Type
Trusted By
Godaddy
Published Date:  Oct 2017
Category:  Medical Devices
Report ID:   58767
Report Format:   PDF
Pages:   120
Rating:    4.8 (70)
Delivery Time: 24 Hours to 48 Hours   
Connect With Us
+91-8668442535
24/7 Research Support