+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Global Optical Coherence Tomography Market - By Technology; By Device; By Application; By Region; Trend Analysis, Competitive Market Share & Forecast, 2018-2026

  • PDF Icon


  • 179 Pages
  • April 2021
  • Region: Global
  • Blueweave Consulting & Research Pvt Ltd
  • ID: 5321740

Global Optical Coherence Tomography Market Set for High Gains: Expected to Reach USD 1,865.6 Million in 2026

A study recently conducted recently revealed that the global optical coherence tomography market reached USD 1,110.9million in 2020 and is further projected to reach USD 1,865.6million by 2026, growing at a CAGR of 9.3% during 2018-2026 (forecast period). Optical Coherence Tomography (OCT) is a new technique that is used for high-resolution cross-sectional imaging. OCT imaging is similar to ultrasound imaging, but it uses light instead of sound. OCT has the potential to generate cross-sectional images of tissue structure on the micron scale in situ and in real-time.

OCT in combination with catheters and endoscopes allows for high-resolution intraluminal imaging of organ systems. OCT is a strong imaging technique for medical diagnostics. Unlike traditional histopathology, which involves the removal of a tissue specimen and processing for microscopic analysis, OCT provides images of tissue in situ and in real-time.OCT may be used in situations where regular excisional biopsy is dangerous or difficult. It is also beneficial in reducing sampling errors associated with excisional biopsy. It can also be used to direct interventional procedures.

Growth Driver: Technical Innovations

The growing technical innovations in OCT medical applications are expected to propel the market growth over the forecast period. Technical innovations in OCT have improved scanning speed, accuracy, resolution power, and multimodal imaging over the years. The combination of angiography and optical coherence tomography (OCT) for the advancement of OCT angiography devices has recently gained prominence in medicine, resulting in the emergence of new cardiovascular applications.Diabetic retinopathy, non-melanoma skin cancer, cardiovascular disease, age-related macular disease, prostate cancer, and Barett's esophagus are just a few of the public health problems that OCT can help with, thanks to technical advances. What’s more, it is also expected to find applications in medical fields other than ophthalmology, such as the life sciences industry.

For instance, on 15 December 2020, ZEISS launched ZEISS VISU360, a new digital platform that allows all eye care professionals, such as doctors, optometrists, and opticians, to communicate with their patients or customers through remote access. The new platform allows eye care specialists to carry out high-quality eye examinations remotely in a confidential and medically approved manner. Furthermore, in December 2020, RetinAI Medical AG collaborated with Novartis Pharma AG, which focuses on adopting RetinAI’s artificial intelligence tools to be deployed for supporting various projects in ophthalmology as well as digital health. Therefore, increasing technological innovations in the field of medical applications are propelling the OCT market forward.

Growth Driver: Increasing Prevalence of Diabetic Retinopathy

Diabetic retinopathy is the most common eye condition that can cause vision loss and blindness in people suffering from diabetes. This disease affects blood vessels in the retina which is the light-sensitive layer of tissue in the back of the eye. Medical professionals recommend that people with diabetes have a comprehensive dilated eye check at least once every year. Diabetic retinopathy does not appear to have any symptoms at all, but recognizing it early may help preserve one's vision. According to reports by World Health Organization (WHO), the number of people with diabetes rose from 108 million in 1980 to 422 million in 2014.

The global prevalence of diabetes among adults over 18 years of age rose from 4.7% in 1980 to 8.5% in 2014. There was an increase of 5% in premature mortality from diabetes between 2000 and 2016.According to the WHO, diabetic retinopathy is responsible for 4.8% of 37 million cases of blindness worldwide.The rise of diabetic retinopathy requires programs for early detection, accurate diagnosis, and timely treatment to reduce the impact of associated vision loss.The increase in the number of cases of diabetic patients may give rise to diabetic retinopathy, which further drives the market growth for OCT.

Spectral-Domain OCTsegment Holds the Largest Market Share

Based on technology, the Global Optical Coherence Tomography Market is categorized into Spectral-Domain OCT (SD-OCT) and Swept-Source OCT. Spectral-Domain OCT Segment dominated the market with a valuation of USD 691.7 Million in 2020.SDOCT is an interferometric technique that uses spectral analysis of the interference fringe pattern to provide depth-resolved tissue structure information encoded in the magnitude and delay of back-scattered light. SD-OCT can be categorized into two parts: with a broadband source and a spectrometer to measure the interference pattern as a function of wavelength, or with a narrowband tunable laser swept linearly in k ~ 1/? space during spectral fringe data acquisition. Both SD-OCT processes use a stationary reference arm, allowing for ultra-high-speed OCT imaging. SD-OCT has become indispensable in biomedical imaging applications due to its high speed and sensitivity.

Handheld OCT Devices Segment Dominates the Market

Based on devices, the global optical coherence tomography market is segmented into handheld OCT devices, tabletop OCT devices, and catheter-based OCT devices. Handheld OCT devices held the shares of 33.24% in 2020. Factors such as high product perforation, which propels the market across the developed regions such as the U.S, UK, Germany, and Brazil, aredrivingthe growth of the segment. Table Top segment is also leading the market with a valuation of USD 563.6 Million in 2020.

Global Optical Coherence Tomography Market: Regional Insights

Based on region, the Optical Coherence Tomography market has been segmented into North America, Europe, the Asia-Pacific, Latin America and Middle East & Africa. Due to the aging population, increased R&D spending, and adoption of new products in the United States, North America is projected to hold a significant market share in the global Optical Coherence Tomography market. Furthermore, hospital expansion, growing healthcare spending, and the presence of well-established healthcare infrastructure are all contributing to the overall regional market's growth.

Impact of COVID-19 Outbreak

As a result of COVID-19 outbreak, the global optical coherence tomography market saw a significant decrease in demand. The pandemic had a significant impact on the industry's regulatory parameters. As soon as the World Health Organization (WHO) declared the novel coronavirus (COVID-19) as a pandemic, countries across the globe were compelled to enforce nationwide lockdown to prevent the spread of the virus. Furthermore, the rules governing ophthalmologist visits were rigorous enough to eliminate any possibility of infection to the doctor if the patient was infected with the virus. Decreased clinic visits reduced the demand for OCT systems initially, which had a negative impact on the production of optical coherence tomography. Furthermore, delays in the production and procurement of high-performance and high-precision components used in the manufacturing and assembly of the OCT system are also impeding the market growth.

Key Market Players: Some of the leading market players areAlcon Vision LLC, Carl Zeiss Meditec AG, Terumo Corporation, Koninklijke Philips N.V., Michelson Diagnostics, Optovue, Abbott Laboratories, Topcon Corporation, Nidek Co. Ltd., B. Braun, Boston Scientific Corporation, Heidelberg Engineering GmbH, Novacam Technologies, Inc, OPTOPOL Technology Sp. z o.o.and other prominent players.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global optical coherence tomography market size & forecast. The report promises to provide recent technology trends of the global optical coherence tomography market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

This product will be delivered within 2 business days.
Frequently Asked Questions about the Global Optical Coherence Tomography Market

What is the estimated value of the Global Optical Coherence Tomography Market?

The Global Optical Coherence Tomography Market was estimated to be valued at $1110.9 Million in 2020.

What is the growth rate of the Global Optical Coherence Tomography Market?

The growth rate of the Global Optical Coherence Tomography Market is 9.3%, with an estimated value of $1865.6 Million by 2026.

What is the forecasted size of the Global Optical Coherence Tomography Market?

The Global Optical Coherence Tomography Market is estimated to be worth $1865.6 Million by 2026.

Who are the key companies in the Global Optical Coherence Tomography Market?

Key companies in the Global Optical Coherence Tomography Market include Carl Zeiss AG, Alcon, Topcon Corporation, Heidelberg Engineering, Optovue, Abbott Laboratories and B. Braun Melsungen AG.

Table of Contents

1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Research Methodology
2.1. Qualitative Research
2.1.1. Primary & Secondary Research
2.2. Quantitative Research
2.3. Market Breakdown & Data Triangulation
2.3.1. Primary &Secondary Research Application
2.3.2. Secondary Research
2.3.3. Primary Research
2.4. Breakdown of Primary Research Respondents, By Region
2.5. Assumption & Limitation
3. Executive Summary
4. Global Optical Coherence Tomography Market Insights
4.1. DROC Analysis
4.2. Growth Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
4.6. Macro Economics Indicator
5. Market Impact Analysis
5.1. Porter’s Five Forces Analysis
5.1.1. Bargaining Power of Suppliers
5.1.2. Bargaining Power of Buyers
5.1.3. Threat of New Entrants
5.1.4. Threat of Substitutes
5.1.5. Intensity of Rivalry
5.2. Value Chain
5.3. Demand & Supply: Gap Analysis
6. Global Optical Coherence Tomography Market Overview
6.1. Market Size & Forecast by Value, 2018-2026
6.1.1. By Value (USD Million)
6.2. Market Share & Forecast
6.2.1. By Technology Spectral-Domain OCT (SD-OCT) Swept-Source OCT
6.2.2. By Device Handheld OCT Devices Table Top OCT Devices Catheter Based OCT Devices
6.2.3. By Application Cardiology Ophthalmology Dermatology Oncology
6.2.4. By Region North America Europe AsiaPacific Latin America Middle East and Africa
7. America Optical Coherence Tomography Market
7.1. Market Size & Forecast by Value, 2018-2026
7.1.1. By Value (USD Million)
7.2. Market Share & Forecast
7.2.1. By Technology
7.2.2. By Device
7.2.3. By Application
7.2.4. By Country United States Canada South America
8. Europe Optical Coherence Tomography Market
8.1. Market Size & Forecast by Value, 2018-2026
8.1.1. By Value (USD Million)
8.2. Market Share & Forecast
8.2.1. By Technology
8.2.2. By Device
8.2.3. By Application
8.2.4. By Country Germany France U.K. Italy Spain Rest of Western Europe Rest of Europe
9. Asia PacificOptical Coherence Tomography Market
9.1. Market Size & Forecast by Value, 2018-2026
9.1.1. By Value (USD Million)
9.2. Market Share & Forecast
9.2.1. By Technology
9.2.2. By Device
9.2.3. By Application
9.2.4. By Country Japan China India South Korea Australia Rest of APAC
10. Middle East & AfricaOptical Coherence Tomography Market
10.1. Market Size & Forecast by Value, 2018-2026
10.1.1. By Value (USD Million)
10.2. Market Share & Forecast
10.2.1. By Technology
10.2.2. By Device
10.2.3. By Application
10.2.4. By Country UAE Saudi Arabia Oman Kuwait Qatar Rest of MEA
11. Competitive Landscape
11.1. Company Market Share Analysis, 2020
11.2. Competitive Benchmarking, By Operating Parameters
12. Impact of Covid-19 across Industry
13. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
13.1. Alcon Vision LLC
13.2. Carl Zeiss Meditec AG
13.3. Terumo Corporation
13.4. Koninklijke Philips N.V.
13.5. Michelson Diagnostics
13.6. Optovue
13.7. Abbott Laboratories
13.8. Topcon Corporation
13.9. Nidek Co. Ltd.
13.10. B. Braun
13.11. Boston Scientific Corporation
13.12. Heidelberg Engineering GmbH
13.13. Novacam Technologies, Inc
13.14. OPTOPOL Technology Sp. z o.o.
*Financial details of unlisted companies will be available as per data availability in final deliverable
**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Carl Zeiss AG
  • Alcon
  • Topcon Corporation
  • Heidelberg Engineering
  • Optovue
  • Abbott Laboratories
  • Terumo Corporation
  • B. Braun Melsungen AG