Optical Coherence Tomography (OCT) Market Forecast Analysis by Manufacturer, Types, Applications and Regions 2021 – 2024

Felton, Calif., USA, Feb. 19, 2021 — /EPR Network/ —

The global Optical Coherence Tomography (OCT) Market size is expected to value at USD 1.8 billion by 2024. The market is subject to witness a substantial growth due to the prevalence of ocular diseases and recent technological advancement in diagnostic techniques. In addition, increasing demand for optical coherence tomography (OCT) devices to carry out diagnosis of cardiology, dermatology, oncology and other type of disorders favor the market growth in upcoming years. Globally, the optical coherence tomography market is predicted to grow at CAGR of 11.2% in forecast period, providing numerous opportunities for market players to invest in research and development of the market.

Additionally, optical coherence tomography (OCT) devices are essential to perform advanced imaging and diagnostic for ophthalmology, thereby propelling market demand, in the recent years. Alterations in optical coherence tomography (OCT) devices to enhance their performance and design modification has led to vast set of applications in the areas of dermatology, cardiology and others. Such wide range of applications of the optical coherence tomography (OCT) devices are expected to fuel market growth over the forecast period.

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Global OCT Market by Technology, 2013 – 2024 (USD Million)

  • Time Domain OCT (TDOCT)
  • Frequency Domain OCT (FD-OCT)
  • Spatial Encoded Frequency Domain OCT
  • Fourier Domain OCT (FDOCT)
  • Others

Global OCT Market by Type, 2013 – 2024 (USD Million)

  • Catheter based OCT devices
  • Doppler OCT devices
  • Handheld OCT devices
  • Tabletop OCT devices

Global OCT Market by Application, 2013 – 2024 (USD Million)

  • Ophthalmology
  • Cardiovascular
  • Oncology
  • Dermatology
  • Others

The key players in the OCT Industry are Optovue, Inc., OPTOPOL Technology S.A., Carl Zeiss Meditec AG, Agfa Healthcare Pvt., Ltd., Imalux Co., Michelson Diagnostics Ltd., Novacam Technologies Inc., Topcon Medical Systems Inc., Leica Microsystems GmbH, Agiltron Inc., and Thorlabs Inc.

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The optical coherence tomography (OCT) industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North American and European region have shown major growth in recent years owing to the rise in the implementation of latest technologies in pharmaceutical & medicine sector, increasing in the research & development activities in the region, expansion of hospitals and laboratory facilities, and existence of well-established healthcare infrastructure.

Asia-Pacific region is predicted to hold major market share in the optical coherence tomography (OCT) market with massive growth in forecast period. Countries such as India, China and Japan are leading the Asia-Pacific market with rising healthcare expenditure, strong economic growth in the region and significant investment by leading industry players considering potential growth opportunities in the region.

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