The global optical coherence tomography market is projected to reach an approximate value of USD 1.2 billion by 2025, growing at a CAGR of 10.9%. Increasing incidences of ocular diseases, rising geriatric population suffering from diabetes and cardiac disorders and rapid technological advancements by key industry players are factors driving the global optical coherence tomography market.
Adroit Market Research report on global optical coherence tomography market gives a holistic view of the market from 2015 to 2025, which includes factors such as market drivers, restraints, opportunities and challenges. The market has been studied for historic years from 2015 to 2017, with the base year of estimation as 2018 and forecast from 2019 to 2025. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the market based on Porter's five forces analysis and positions the key players based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global optical coherence tomography market have been studied in detail.
Optical coherence tomography is widely used as a clinical standard in ophthalmology and helps in effective diagnostics and treatment of various retinal disorders including diabetic retinopathy, age-related macular degeneration, glaucoma, vitroretinal traction and macular holes. Optical coherence technology is a promising tool in many diverse fields including dermatology, oncology and cardiology. For instance, OCT is rapidly being adopted for the detection of skin abnormalities that are difficult to assess. It is also used in the diagnosis of non-melanoma skin cancer wherein it helps to reduce the number of invasive biopsies, assist in identifying location for biopsy and enables measurement of tumor thickness. These factors are anticipated to drive the demand for optical coherence tomography devices in the next few years.
The global optical coherence tomography market has been segmented based on type, technology, application, and region. Based on type, the global optical coherence tomography market is categorized into handheld OCT devices, catheter-based OCT devices, Doppler OCT devices, and tabletop OCT devices. Handheld OCT devices segment is expected to be the largest segment through 2025. On the basis of technology, the global optical coherence tomography market is segmented into time domain OCT, frequency domain OCT, and spatially encoded frequency domain OCT. Spatially encoded frequency domain OCT is further categorized into Fourier domain optical coherence tomography (FDOCT) and spectral domain optical coherence tomography (SDOCT).
Optical coherence tomography has wide application areas including ophthalmology, cardiology, dermatology, oncology and others. Ophthalmology segment held the largest share of the global optical coherence tomography market in 2018.
North America is the largest market for optical coherence tomography, which is closely followed by Europe. Presence of large geriatric patient pool, increase in prevalence of ocular and chronic disorders, high adoption of OCT devices are the key factors fueling growth in this region.
Major players operating in the global optical coherence tomography market include Optovue Inc., Carl Zeiss Meditec AG, Michelson Diagnostics Ltd., Heidelberg Engineering GmbH, Thorlabs Inc., Topcon Medical Systems Inc., Agfa Healthcare, Novacam Technologies Inc. among others.
Key Segments of the Global Optical Coherence Tomography Market
Type Overview, 2015-2025 (USD Million)
- Handheld OCT devices
- Doppler OCT devices
- Tabletop OCT devices
- Catheter-based OCT devices
Technology Overview, 2015-2025 (USD Million)
- Frequency Domain Optical Coherence Tomography (FD-OCT)
- Time Domain Optical Coherence Tomography (TDOCT)
- Spatially Encoded Frequency Domain Optical Coherence Tomography
- Fourier Domain Optical Coherence Tomography (FDOCT)
- Spectral Domain Optical Coherence Tomography (SDOCT)
Application Overview, 2015-2025 (USD Million)
Regional Overview, 2015-2025 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Middle East & Africa