Global Optical Coherence Tomography Market is Expected to Increase around US$ XX Mn by 2024, Due to Increasing Disorders such as Glaucoma and Retinal Diseases Which Include Age-related Muscular Degeneration and Diabetic Eye
Analyst Speak:
“The Global Optical Coherence Tomography Market is anticipated to reach about US$ XX Mn by 2024, and anticipated to expand at a CAGR over six years of forecast period 2019-2024 due to increasing diseases and disorders which include glaucoma and age-related muscular degeneration
Precision Business Insights (PBI) in its report titled “Global Optical Coherence Tomography Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2018 and Forecast 2019-2024” assesses the market performance over six years forecast period from 2019 to 2024. The report covers in-detail insights about the competitor’s overview, key findings and their key strategies also it gives a detailed outline about drivers, restraints, challenges and trends that are faced by the industry.
The global optical coherence tomography market size was accounted for US$ XX Mn in 2018 and anticipated to account for US$ XX Mn by 2024. Increased diseases and disorders of eye will create demand for optical coherence tomography market in the forecasted years.
Global optical coherence tomography market is segmented on the basis of application, technology and device type.
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Spectral Domain Optical Coherence Tomography (SDOCT) is expected to dominate the market
Based on technology, spectral-domain optical coherence tomography (SD-OCT), swept-source optical coherence tomography (SS-OCT), and others. The SD-OCT segment accounted for largest revenue growth and is projected to dominate over the forecast period owing to demand for the non-radiation imaging modalities and rising awareness among the patients. However, insufficient clinical data and limited reimbursement facilities are hindering the growth of the market.
Ophthalmology segment dominates the revenue share
The ophthalmology segment is expected to show the significant growth due to an advancements in the technology in the ophthalmic devices and increase in the prevalence of eye diseases would enhance the growth of the ophthalmology market during the forecasted period.
North America shares major Revenue Share for Optical Coherence Tomography Market
PBI’s global optical coherence tomography market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to regional analysis, North America is expected to hold major share owing to high ubiquitousness of diseases and presence of leading manufacturers. Prevalence of diabetic retinopathy and other age-related macular degeneration (AMD) are likely to induce demand for the market in the coming years. Following North-America, Asia Pacific is anticipated to grow at a steady rate over the forecasted period owing to increased adoption towards OCT system for the diagnosis and increased number of market players and establishment of new manufacturing units in the Asian region.
Launch of new products and expansion of product portfolio are the key strategies adopted by the companies to enhance the growth of the market
Launch of new products are certain to get exposure owing to social media and prevalence of chronic diseases. This is evident by the launch of AngioVue by OptoVue in 2016. The trend is indicative of the pressing demand owing to launch of similar products such as AngioScan OCT by Nidek, DRI-Triton and 3D Oct-1 Maestro by Topcon.
Key players in the optical coherence tomography market include Nidek Co., Ltd., Carl Zeiss AG, Terumo Corporation, Agfa Healthcare, Koninklijke philips N.V, Imalux Corporation, Optovue, Abbott Laboratories, Boston Scientific Corporation, Optopol Technology S.A, B. Braun Melsungen AG, Michelson Diagnostics, Heidelberg Engineering GmbH, Alcon, Novacam Technologies Inc., Topcon Corporation, Thorlabs Inc., and others.
Detailed Segmentation
By Application Type
o Oncology
o Dermatology
o Cardiology
o Ophthalmology
o Others
By Technology Type
o Frequency Domain Optical Coherence Tomography (FD-OCT)
o Time domain Optical Coherence Tomography (TDOCT)
o Spatially Encoded Frequency Domain Optical Coherence Tomography
o Spectral Domain Optical Coherence Tomography (SDOCT)
o Fourier Domain Optical Coherence Tomography (FDOCT)
By Devices Type
o Table laptop OCT devices
o Catheter based OCT devices
o Hand held OCT devices
o Other devices
By Device Type
o Hospitals and clinics
o Physician offices
o Others
Geography
o North America
• U.S
• Canada
o Europe
• Germany
• France
• U.K
• Italy
• Spain
• Russia
• Poland
• Rest of Europe
o Asia-Pacific
• Japan
• China
• India
• Australia & New Zealand
• Rest of Asia-Pacific
o Rest of World
• Brazil
• South Africa
• Saudi Arabia
• Others
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