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Optical Coherence Tomography Market: By Technology (Time Domain OCT (TD-OCT), Frequency Domain OCT (FD-OCT), Spatial Encoded Frequency Domain OCT), By�Type (Catheter Based OCT Devices, Doppler OCT Devices, Handheld OCT Devices, Table-top OCT Devices), By Application (Clinical {Ophthalmology, Cardiology, Oncology, Dermatology, Dentistry}, Industrial {Industrial Quality Control, Non Destructive Testing, Others}), By Scanning speed (400 A-scans/sec, 4000 A-scans/sec, 20000 A-scans/sec, 32000 A-scans/sec, 40000 A-scans/sec, 70000 A-scans/sec, 80000 A-scans/sec, 100000 A-scans/sec, 250000 A-scans/sec), And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032
The Optical Coherence Tomography Market was valued at 1.28 billion USD in 2021 and is expected to reach USD 4.5 billion by 2032, increasing at a CAGR of 12% during the forecast period, i.e., 2022-2032
Optical Coherence Tomography is a modern technique used for cross-sectional imaging with high resolution. Optical Coherence Tomography is a non-invasive imaging method which utilizes coherent light for capturing 2D and 3D pictures. Imaging with high depth of penetration and high resolution are the characteristics of optical coherence tomography. This method is use for examining transparent tissues and to analyse the retina condition by providing images of tissue in real time. This method is used in optical biopsy and assist in reducing the sampling errors involved with biopsy.
Optical Coherence Tomography Market is expected to project a CAGR of 12% during the forecast period
The Optical Coherence Tomography Market was valued at 1.28 billion USD in 2021 and is expected to reach USD 4.5 billion by 2032, increasing at a CAGR of 12% during the forecast period, i.e., 2022-2032 owing to the factors like increasing geriatric population who require OCT in drug delivery. The rising advantages in developing economies by increasing the investments on for technical advancements is expected to drive the growth of optical coherence tomography (OCT) market.
Frequency Domain Optical Coherence Tomography (FD-OCT) segment is expected to dominate in the forecast period
Optical Coherence Tomography Market is classified based on the Technology into Time Domain OCT (TDOCT), By Frequency Domain OCT (FD-OCT), Spatial Encoded Frequency Domain OCT. The Frequency Domain Optical Coherence Tomography (FD-OCT) segment dominated the market in 2021 and is also expected to dominate the market with high share during the forecast period. It works by measuring interference spectrum and so referred as Spectral-Domain OCT (SD-OCT) and is a traditional technique used for examining retina of eye.
Handheld OCT device type segment is expected to dominate in the forecast period
Optical Coherence Tomography Market is classified based on the Type into Catheter Based OCT Devices, Doppler OCT Devices, Handheld OCT Devices, Table-top OCT Devices. The Handheld OCT device type segment dominated the market in 2021 and is expected to maintain the same in the forecast period. Handheld OCT devices are used to detect early symptoms of several eye disorders.
Rising Number Of Patients With Eye Disorders Will Propel The Market Growth
Increasing number of patients with eye disorders, rising geriatric population is expected to boost the growth of the market. Increasing OCT imaging techniques in dosage forms, rising medical centres and early diagnosis techniques are expected to dominate the Optical coherence tomography (OCT) market share in the forecast period.
Advancements In Healthcare Sector Is Expected To Boost The Market Growth
Novel advancements in healthcare systems, several initiatives of government to reinforce infrastructure and R&D operations to improve effectiveness of tomography devices aid in the growth of the market. An increase in optical coherence tomography (OCT) in various domains will help to boost the market growth.
Restraint
High Cost Of Optical Coherence Tomography (OCT) Will Restrain The Market Growth
The optical coherence tomography (OCT) devices related to ophthalmology are expensive and the lack of reimbursement policies will hamper the growth of the market. The availability of competitive technologies and high cost of investment may restrain the growth of the optical coherence tomography (OCT) market.
Recent Developments
Key Players
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Optical Coherence Tomography Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Based on regional analysis, North America dominated the market in 2021 and is expected to dominate the market share in the global Optical Coherence Tomography market in the forecast period owing to the rising investments in R&D, increasing geriatric population and adoption of new products in the region.
COVID-19 pandemic led to the increased demand for medical supplies and respiratory support devices. Due to the pandemic, a huge demand for medical supplies was created as they were used by healthcare professionals and civil population for precautionary measures. COVID 19 pandemic had a slight positive impact on the growth of optical coherence tomography market.
Optical Coherence Tomography Market is further segmented by region into:
Optical Coherence Tomography Market Segments:
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Report Attribute |
Details |
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Market size value in 2021 |
USD 1.28 billion |
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Revenue forecast in 2032 |
USD 4.5 billion |
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Growth Rate |
CAGR of 12% from 2022 to 2032 |
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Base year for estimation |
2021 |
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Quantitative units |
Revenue in USD billion and CAGR from 2022 to 2032 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Technology, Type, Application, Scanning Speed and Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
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Key companies profiled |
Carl Zeiss AG, Heidelberg Engineering GmbH, Agfa Healthcare India Pvt. Ltd, Leica Microsystems, TOPCON CORPORATION, Michelson Diagnostics Ltd, Abbott, Agiltron Inc., Insight., Thorlabs Inc., HAAG-STREIT GROUP, Miniprobes, OPTOPOL Technology Sp. z o.o., Shenzhen MOPTIM Imaging Technique Co., Ltd., Canon Inc., Novartis, Edmund Optics Inc and Other Prominent Players |
Optical Coherence Tomography Market size was estimated at USD 1.28 billion in 2021 and is expected to reach USD 4.5 billion in 2032.
Optical Coherence Tomography is a modern technique used for cross-sectional imaging with high resolution. Optical Coherence Tomography is a non-invasive imaging method which utilizes coherent light for capturing 2D and 3D pictures.
Frequency Domain Optical Coherence Tomography (FD-OCT) and Handheld OCT device type segment accounted for the largest Optical Coherence Tomography market share.
Key players: Carl Zeiss AG, Heidelberg Engineering GmbH, Agfa Healthcare India Pvt. Ltd, Leica Microsystems, TOPCON CORPORATION, Michelson Diagnostics Ltd, Abbott, Agiltron Inc., Insight., Thorlabs Inc., HAAG-STREIT GROUP, Miniprobes, OPTOPOL Technology Sp. z o.o., Shenzhen MOPTIM Imaging Technique Co., Ltd., Canon Inc., Novartis, Edmund Optics Inc and Other Prominent Players are the key players in the Optical Coherence Tomography Market.
Increasing Cancer Patients and Advancements in Healthcare are the factors driving the Optical Coherence Tomography market.
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