Global Optical Coherence Tomography market trends 2024, Forecast To 2033
4 Mar, 2024
The optical coherence tomography market size has witnessed rapid growth in recent years, rising from$1.72 billion in 2023 to$1.94 billion in 2024 at a compound annual growth rate (CAGR) of 12.9%. The growth in the historic period can be attributed to the global pandemic impact, patient preferences, competitive landscape, rapid research & development, regulatory support, and the miniaturization of devices. Looking forward, the market is anticipated to experience rapid growth, reaching$3.17 billion in 2028 with a CAGR of 13.1%. The growth in the forecast period is driven by increasing healthcare expenditure, a patient-centric approach, and the rising prevalence of eye disorders. Noteworthy trends in the forecast period include OCT integration in surgeries, regulatory landscape changes, telemedicine and remote consultations, market competition, and innovation.
Global Optical Coherence Tomography Market Key Driver
The rising prevalence of eye disorders is expected to support the growth of the optical coherence tomography market. Globally, eye conditions, including cataract, glaucoma, diabetic retinopathy, and age-related macular degeneration (AMD) are leading causes of vision loss and blindness. The demand for advanced disease diagnostic tools like optical coherence tomography systems is growing due to the rise in eye ailments. For instance, according to the World Health Organization (WHO), a Switzerland-based specialized agency of the United Nations, near-or vision problems affect over 2.2 billion individuals worldwide due to eye conditions such as refractive error, cataract, glaucoma, diabetic retinopathy, and other conditions. Globally, age-related macular degeneration (AMD) ranks as the third cause of blindness after cataracts and glaucoma. In the European Union (EU), AMD is thought to impact 34 million individuals on average, including 22 million in just the five most populated nations. It is anticipated that there will be a 25% rise in the AMD patient population by 2050 owing to population growth and ageing. Primary open-angle glaucoma (POAG) is predicted to affect 7.32 million Americans by 2050, up from 3.15 million in 2015. Thus, the increasing prevalence of eye disorders is expected to drive the growth of the optical coherence tomography market. In 2023, the market size for optical coherence tomography is valued at X, and it is projected to reach Y by 2028.
Get A Free Sample Of The Global Optical Coherence Tomography Market ReportGlobal Optical Coherence Tomography Market Segments
The global optical coherence tomography market covered in this report is segmented –
1) By Type: Catheter-Based OCT Devices, Doppler OCT Devices, Handheld OCT Devices, Tabletop OCT Devices
2) By Technology: Time Domain OCT (TDOCT), Frequency Domain OCT (FD-OCT), Spatial Encoded Frequency Domain OCT
3) By Application: Ophthalmology, Cardiovascular, Oncology, Dermatology, Other Applications
By Geography: The regions covered in the optical coherence tomography market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the optical coherence tomography market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the optical coherence tomography market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Optical Coherence Tomography Industry Players
Agfa-Gevaert N.V., Carl Zeiss Meditec AG, Heidelberg Engineering GmbH, Imalux Corporation, Michelson Diagnostics Limited, Novacam Technologies Inc., OPTOPOL Technology Sp. z o.o., Topcon Healthcare Solutions Inc., Conavi Medical Inc., ZD Medical Inc., Excelitas Technologies Corp, Thorlabs Inc., Sonostar Technologies Co. Limited, NIDEK Co. Ltd., Leica Microsystems IR GmbH, Optovue Inc., Canon Inc., Optos Inc., Santec Corporation, Tomophase Corporation, Insight Photonic Solutions Inc., Wasatch Photonics Inc., Avinger Inc., AngioDynamics Inc., BaySpec Inc., Tornado Spectral Systems Inc., Lambda Solutions Inc., LightLab Imaging Inc., Infraredx Inc., Optoprobe Inc., Terumo Corporation, Optiscan Pty Ltd., NinePoint Medical Inc., Axsun Technologies Inc., AOT AG
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Optical Coherence Tomography Market Overview
Optical coherence tomography (OCT) is an optical biopsy and effective imaging technology for medical diagnostics that provides images of tissue in situ and in real-time. Optical coherence tomography is used for high-resolution cross-sectional imaging.
Optical Coherence Tomography Global Market Report 2023 provides data on the global optical coherence tomography market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The optical coherence tomography market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.