Optical Coherence Tomography Market Report and Forecast

The OCT Worldwide Market is Projected to Exceed $1.2 Billion in 2024

Optical coherence tomography imaging technology has many distinct advantages that have driven commercialization. The primary benefits are real-time subsurface images with high resolution for biomedical and industry applications with no preparation of the target area or ionizing radiation required.

The market is expected to grow between 10% and 12% annually. The OCT market is projected to exceed $1.2 billion in 2024.

Optical Coherence Tomography Market Report and Forecast

The markets segments covered are defined below:

• Ophthalmology
• Cardiology
• Other medical
• Microscopy
• Pharmaceutical
• Industrial

It is anticipated that medical applications other than ophthalmology will have the fastest growth rate beyond 2020.

The market for OCT light sources and photonics components will represent about 20% and 18% of the total OCT systems market respectively in 2024.

SD-OCT is the dominant technology displacing the older TD-OCT. SS-OCT is the newest commercially available technology with advantages for deep tissue penetration.

22 companies have been identified as OCT system suppliers. More than half of the companies focus on ophthalmic applications. In general, the ophthalmic focused companies are well established with worldwide distribution. Emerging markets in other medical market segments include cardiology and dermatology as well as other areas. Other emerging markets are pharmaceuticals for drug discovery and non-destructive testing for industrial applications.