The Optical Coherence Tomography Market is enjoying its growing popularity in the healthcare sector as physicians are relying more on imaging technology for accurate diagnosis. Optical coherence tomography, a non-invasive imaging technology, generates pseudo-color imaging of the tissue structure in real-time. It’s quite similar to ultrasound, but it uses light not sound. Spectral-domain OCT (SD-OCT) is almost 50-1000 times faster than the time-domain (TD) optical technology. The swept-source OCT (SS-OCT) is also riding high on the new-found popularity owing to its faster operational capabilities.
The Global Optical Coherence Tomography Market is expecting a rise of 8.9% CAGR during the forecast period (2017-2023), claims Market Research Future (MRFR). The published report includes an overall understanding of the segments, expert inputs, competitive scenario, and drivers that can influence the market in the coming years.
Among the major features, the optical coherence tomography market is gaining tailwind mainly from the regulatory bodies who are lenient in dealing with new products. At the same time, favorable reimbursements are influencing patients in having such tests which are spurring growth. The imaging technology that is now available is quite advanced which the major hospitals want as a part of their portfolio. Increasing investment from both the public and private sector is helping the optical coherence tomography market to expand more. In line with that, emerging countries have realized their prospect as medical tourism hub which is pushing those countries forward in allotting investments accordingly for an infrastructural upliftment.
Despite such advantages, the optical coherence tomography market can get bogged down owing to the high price of the machines which many cannot afford. However, it can be tackled by the participating NGOs, government initiatives, and private investments.
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Optical Coherence Tomography Market – Competitive Landscape
Optical Coherence Tomography market witnesses intensified completion owing to the several matured & small key players forming a competitive landscape. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players.
Optical Coherence Tomography Market – Key Players
Some of the fervent players operating in the market and profiled in MRFR analysis are Abbott Laboratories, Alcon, Carl Zeiss AG, B. Braun Melsungen AG, Terumo Corporation, Koninklijke Philips N.V, NIDEK Co., Ltd, Boston Scientific Corporation, Topcon Corporation, Heidelberg Engineering GmbH, Novacam Technologies Inc., OPTOPOL Technology S.A, Agfa Healthcare, Imalux Corporation, Thorlabs Inc., and Michelson Diagnostics. Profiling them in its analysis, MRFR finds out their strategies keeping them at the forefront of competition.
Industry/Innovation/Related News:
In January 2018, researchers from Sheridan University and Boston University have developed a fiber-based pull-back circumferential scanning OCT. The machine has an outer diameter of 6mm. With a bandwidth of 500-695 mm it can provide a high-resolution and contrasting image.
In November 2018, scholars from École Polytechnique de Montréal, Université de Montréal, and Université de Sherbrooke came up with automated dual-resolution serial optical coherence tomography (2R-SOCT) scanner, which has provided an image of the entire mouse brain with MRI inputs.
June 27, 2018 – Axsun Technologies, Inc. (US), one of the leading manufacturers of Swept Source Optical Coherence Tomography (SSOCT) engines, announced that it has shipped over 15,000 swept lasers for OCT imaging applications worldwide from the beginning of the year. The company further also stated that continuing expansion of its portfolio of Swept Laser Engines, it has added 140nm tuning bandwidth to its wide bandwidth 1060nm Swept laser. The new Swept Laser enables 3.5um axial resolution with superior speed and imaging depth over legacy OCT technologies.
May 30, 2018 – Heidelberg Engineering, Inc. (Germany), a high-tech imaging company specializing in the diagnostic equipment for ophthalmology announced that its next generation of its Spectralis imaging device OCT2 module is being sent into space by NASA. Since 2013, NASA researchers have been using the Spectralis optical coherence tomography (OCT) device to investigate the effects of a microgravity environment on vision. The OCT2 module will help retina specialist on the NASA space flight to image deeper structures in the eye that are affected by long-term space flight such as the posterior optic nerve head anatomy and the choroidal blood supply to the retina.
Optical Coherence Tomography Market – Key Finding
- The Global Optical Coherence Tomography Market is expected to reach USD 1483.49 million by 2023 at a CAGR of 8.9%.
- On the basis of the technology, Spectral-domain OCT (SD-OCT) is expected to command the largest market share of 60.1% over the review period, and Swept-source OCT is expected to grow at the fastest CAGR of 9.1% during the forecast period 2017-2023
- On the basis of the Application, ophthalmology segment is expected to command the largest market share of 53.6% over the review period, and Dermatology is expected to grow at the fastest CAGR of 9.3% during the forecast period 2017-2023
- The Americas hold the largest share of the global optical coherence tomography market and is expected to reach USD 558.34 million by 2023
- Asia Pacific is the fastest growing market, which is expected to grow at a CAGR of 9.4% over the 2017-2023
Optical Coherence Tomography Market – Segmentation
The global optical coherence tomography market is segmented on the basis of technology, application, and type of devices.
Based on the technology, the optical coherence tomography market includes swept-source OCT, spectral-domain OCT (SD-OCT), and others.
Application-wise the optical coherence tomography market can be segmented into oncology, ophthalmology, cardiology, dermatology, and others.
Based on the type of devices, the optical coherence tomography market comprises handheld OCT devices, catheter-based OCT devices, tabletop OCT devices, and others.
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