Optical Coherence Tomography Market

Optical Coherence Tomography Market by Types (Handheld, Catheter, Doppler OCT Devices, Tabletop, and Others), Applications (Cardiovascular, Ophthalmology, Gastroenterology, Urology, Rheumatology, Gynecology, Dental, Dermatology, Oncology, and Others), Technology (Spatially Encoded Frequency Domain Based, Frequency Domain Based, and Time Domain Based), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: HC-2045
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 2
  • No. Of Pages: 175
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The global optical coherence tomography market size is projected to register a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing demand from new biomedical applications and ongoing development of innovative technology.

Optical Coherence Tomography Market Key Takeaways

Optical coherence tomography (OCT) is a non-invasive optical diagnostic procedure. The notion of Interferometry is applied in OCT, which uses near infrared light to construct a cross-sectional picture of the retina. It produces three-dimensional pictures of biological tissue with a micrometer-resolution accuracy of 10 to 15 microns. Furthermore, the sample light and reference light are only coherent when the travel distances are tightly matched in OCT devices, which are designed to be precise. A sample arm and a reference arm are included in the devices. The system's sample arm shines light on the patient sample and captures the scattered light. The light gathered from the sample is then combined with light reflected from the device's reference arm.

OCT techniques are effective optical diagnostics that provide a two-dimensional picture of the retina to facilitate ophthalmological testing and therapies. OCT's application is not limited to ophthalmology as it is being used in various area such as cancer, nephrology, and dermatology. Moreover, OCT techniques are also used in the contemplative investigation of micro-level disorders. Furthermore, it is now being used to investigate disorders such as non-melanoma skin cancer, prostate cancer, cardiovascular disruptions, esophageal issues, and diabetes.

Market Trends, Drivers, Restraints, and Opportunities

  • Increasing burden of eye related disease and rising investment by key pharmaceutical companies in the development of advanced OCT imaging system are key factors propelling the market growth.
  • Ongoing development initiatives and early stage approvals for the advanced system of OCT imaging systems by regulatory bodies are estimated to fuel the market expansion.
  • Growing awareness for eye related disorders and increasing research & development activities for advanced OCT systems are expected to boost the market growth during the forecast period.
  • Lack of proper medical reimbursement facilities and insufficient clinical data are key factors hindering the market growth.
  • Absence of proper equipment and skilled professionals to handle sophisticated devices are another factors restraining the market expansion.
  • Developing & manufacturing of compact, low cost, and portable OCT systems by key pharmaceutical companies are expected to offer immense opportunity for the market expansion during the forecast period.

Scope of the Report

The report on the global optical coherence tomography market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Optical Coherence Tomography Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Types (Handheld, Catheter, Doppler OCT Devices, Tabletop, and Others), Applications (Cardiovascular, Ophthalmology, Gastroenterology, Urology, Rheumatology, Gynecology, Dental, Dermatology, Oncology, and Others), and Technology (Spatially Encoded Frequency Domain Based, Frequency Domain Based, and Time Domain Based)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

OPTOPOL Technology Sp. z o.o.; Optovue; Agfa Healthcare; Carl Zeiss Meditec AG; Michelson Diagnostics Inc.; Imalux Corp.; Topcon Medical Systems Inc.; Novacam Technologies Inc.; Agiltron Inc.; Thorlabs Inc.; and Leica Microsystems.

Market Segment Insights

Handheld segment is expected to grow at a rapid pace

Based on types, the global optical coherence tomography market is segmented into handheld, catheter, doppler OCT devices, tabletop, and others. The handheld segment is expected to grow at a rapid pace during the forecast period attributed to the greater product penetration in regions such as the U.S., the UK, Germany, and Brazil. Moreover, it replaces swept source OCT with a high-performance 880-nm micro-spectrometer, reducing volume without losing picture quality while lowering costs. Furthermore, it also features clever anti-shake image capture technology, allowing it to be used as a handheld device. Thus, aforementioned advantages are expected to boost the segment growth.

Optical Coherence Tomography Market By Types

Ophthalmology segment is projected to expand at a considerable CAGR

On the basis of applications, the market is segregated as cardiovascular, ophthalmology, gastroenterology, urology, rheumatology, gynecology, dental, dermatology, oncology, and others. The ophthalmology segment is projected to expand at a considerable CAGR in the coming years owing to the introduction of technological advanced devices. Moreover, these devices offer enhanced performance, accuracy, and ease of use along with the augmenting incidences of retinal and choroidal disorders.

However, the dermatology segment is projected to register a considerable growth rate during the forecast period. Since 1997, the devices have been utilized in dermatology and have undergone significant developments to fulfil the demand for non-invasive imaging and monitoring of various skin conditions.

Optical Coherence Tomography Market By Applications

Spatially encoded frequency domain based segment to gain a large revenue share

Based on technology, the global optical coherence tomography market is divided into spatially encoded frequency domain based, frequency domain based, and time domain based. The spatially encoded frequency domain based segment is estimated to gain a large revenue share during the forecast period. The growth of the segment is attributed to the advanced data collection and developed scanning capabilities. Furthermore, these eradicate the faults arising due to patient movement along with better slicing of the images.

On the other hand, time domain based segment is projected to account for a major share of the market in the coming years owing to wide use and rising popular of imaging technology for retinal problems diagnosis. However, this technology is losing revenue share over the recent years due to superior outcomes from spatially encoded frequency-based devices.

North America is anticipated to constitute a key market share

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key market share during the forecast period due to the rising investment in R&D activities and growing adoption of the new products from key regional players. Furthermore, rapid expansion of hospitals and laboratory facilities resulting in new product purchases in the region prove to be key factors driving the regional market growth. For example, Notal Vision has announced the introduction of its first self-operated OCT equipment with longitudinal research in the US in January 2021. Thus, all these factors are expected to upsurge the market expansion in the region.

However, the quicker processing of approvals and less documents required to enable automated devices in the region, Europe is likely to increase its market share significantly in the coming years. For example, the CEA expedited the distribution of Topcon's latest goods across the European Union, resulting in increased revenue of the regional market.

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Optical Coherence Tomography Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Optical Coherence Tomography Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Optical Coherence Tomography Market - Supply Chain
  4.5. Global Optical Coherence Tomography Market Forecast
     4.5.1. Optical Coherence Tomography Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Optical Coherence Tomography Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Optical Coherence Tomography Market Absolute $ Opportunity
5. Global Optical Coherence Tomography Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Optical Coherence Tomography Market Size and Volume Forecast by Types
     5.3.1. Handheld Catheter Doppler OCT Devices Tabletop Others
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Optical Coherence Tomography Market Analysis and Forecast by Applications
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Applications
     6.2.2. Y-o-Y Growth Projections by Applications
  6.3. Optical Coherence Tomography Market Size and Volume Forecast by Applications
     6.3.1. Cardiovascular Ophthalmology Gastroenterology Urology Rheumatology Gynecology  
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Optical Coherence Tomography Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Optical Coherence Tomography Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Optical Coherence Tomography Demand Share Forecast, 2019-2026
8. North America Optical Coherence Tomography Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Optical Coherence Tomography Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Optical Coherence Tomography Market Size and Volume Forecast by Types
     8.4.1. Handheld Catheter Doppler OCT Devices Tabletop Others
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Optical Coherence Tomography Market Size and Volume Forecast by Applications
     8.7.1. Cardiovascular Ophthalmology Gastroenterology Urology Rheumatology Gynecology  
  8.8. Basis Point Share (BPS) Analysis by Applications
  8.9. Y-o-Y Growth Projections by Applications
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Optical Coherence Tomography Demand Share Forecast, 2019-2026
9. Latin America Optical Coherence Tomography Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Optical Coherence Tomography Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Optical Coherence Tomography Market Size and Volume Forecast by Types
     9.4.1. Handheld Catheter Doppler OCT Devices Tabletop Others
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Optical Coherence Tomography Market Size and Volume Forecast by Applications
     9.7.1. Cardiovascular Ophthalmology Gastroenterology Urology Rheumatology Gynecology  
  9.8. Basis Point Share (BPS) Analysis by Applications
  9.9. Y-o-Y Growth Projections by Applications
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Optical Coherence Tomography Demand Share Forecast, 2019-2026
10. Europe Optical Coherence Tomography Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Optical Coherence Tomography Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Optical Coherence Tomography Market Size and Volume Forecast by Types
     10.4.1. Handheld Catheter Doppler OCT Devices Tabletop Others
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Optical Coherence Tomography Market Size and Volume Forecast by Applications
     10.7.1. Cardiovascular Ophthalmology Gastroenterology Urology Rheumatology Gynecology  
  10.8. Basis Point Share (BPS) Analysis by Applications
  10.9. Y-o-Y Growth Projections by Applications
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Optical Coherence Tomography Demand Share Forecast, 2019-2026
11. Asia Pacific Optical Coherence Tomography Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Optical Coherence Tomography Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Optical Coherence Tomography Market Size and Volume Forecast by Types
     11.4.1. Handheld Catheter Doppler OCT Devices Tabletop Others
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Optical Coherence Tomography Market Size and Volume Forecast by Applications
     11.7.1. Cardiovascular Ophthalmology Gastroenterology Urology Rheumatology Gynecology  
  11.8. Basis Point Share (BPS) Analysis by Applications
  11.9. Y-o-Y Growth Projections by Applications
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Optical Coherence Tomography Demand Share Forecast, 2019-2026
12. Middle East & Africa Optical Coherence Tomography Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Optical Coherence Tomography Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Optical Coherence Tomography Market Size and Volume Forecast by Types
     12.4.1. Handheld Catheter Doppler OCT Devices Tabletop Others
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Optical Coherence Tomography Market Size and Volume Forecast by Applications
     12.7.1. Cardiovascular Ophthalmology Gastroenterology Urology Rheumatology Gynecology  
  12.8. Basis Point Share (BPS) Analysis by Applications
  12.9. Y-o-Y Growth Projections by Applications
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Optical Coherence Tomography Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Optical Coherence Tomography Market: Market Share Analysis
  13.2. Optical Coherence Tomography Distributors and Customers
  13.3. Optical Coherence Tomography Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. OPTOPOL Technology Sp. z o.o. Optovue Agfa Healthcare Carl Zeiss Meditec AG Michelson Diagnostics Inc. Imalux Corp.  
Segments Covered in the Report
The global optical coherence tomography market has been segmented on the basis of

Types
  • Handheld
  • Catheter
  • Doppler OCT Devices
  • Tabletop
  • Others
Applications
  • Cardiovascular
  • Ophthalmology
  • Gastroenterology
  • Urology
  • Rheumatology
  • Gynecology
  • Dental
  • Dermatology
  • Oncology
  • Others
Technology
  • Spatially Encoded Frequency Domain Based
  • Frequency Domain Based
  • Time Domain Based
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • OPTOPOL Technology Sp. z o.o.
  • Optovue
  • Agfa Healthcare
  • Carl Zeiss Meditec AG
  • Michelson Diagnostics Inc.
  • Imalux Corp.
  • Topcon Medical Systems Inc.
  • Novacam Technologies Inc.
  • Agiltron Inc.
  • Thorlabs Inc.
  • Leica Microsystems.

Some of the major players competing in the market are OPTOPOL Technology Sp. z o.o.; Optovue; Agfa Healthcare; Carl Zeiss Meditec AG; Michelson Diagnostics Inc.; Imalux Corp.; Topcon Medical Systems Inc.; Novacam Technologies Inc.; Agiltron Inc.; Thorlabs Inc.; and Leica Microsystems.

These major players are engaged in various marketing strategies such as partnership & collaboration, fund infusion, merger & acquisitions, and new product launch to secure their market position in the regional as well as global competition. For instance, Optovue has introduced high-density OCT angiography for ophthalmology, which offered high-resolution and peripheral vision of the vasculature in the eyes. As a result, the expansion of the OCT market is expected to be aided by such product releases and innovation.

Optical Coherence Tomography Market By Key Players

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