Optical Coherence Tomography Market Size and CAGR Comparison by Region with Worldwide Competitors like Abbott Laboratories, KONINKLIJKE PHILIPS N.V, Boston Scientific Co. etc.

Optical Coherence Tomography Market - Regional Analysis

Globally, North America region is expected to lead the Optical Coherence Tomography market accounting for a significant market share. Factors substantiating the market growth of this region include growing demand for the diabetic retinopathy, supported by the growing number of patients suffering from the chronic diseases such as diabetes, neurovascular and other eye diseases.

Simultaneously, augmenting demand for the minimally invasive procedures and technologically advanced treatments backed by the rising healthcare expenditures and government support are expected to drive the market growth in the region commutatively. Furthermore, the presence of the leading players is one of the key factors fostering the market growth in the region.

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Whereas the world’s second-largest market for OCT- Europe is expected to demonstrate a healthy growth during the review period. Factors such as the well-proliferated healthcare sector, witnessing the growing number of advanced treatment facilities fuelled by the growing demand for better healthcare infrastructure and increasing healthcare expenditures are driving the growth in the Europe market.

The Asia-Pacific market is emerging as a lucrative market for OCT owing to the rising number of diabetic retinopathy and other eye diseases coupled with the growing population that is increasingly adopting the sedentary lifestyle. Increasing funding support from the private and public bodies are paying off well, increasing R&D activities, and eventually are supporting the market growth in the region. Owing to the availability of new treatment methods that are increasingly meeting the growing demand for the treatments of prevailing optical diseases the APAC region is expected to become the fastest growing market for Optical Coherence Tomography.

The Middle East & Africa region perceive a moderate growth in the global Optical Coherence Tomography market. The contributions from the African region are negligible due to the low per capita healthcare expenditure and stringent government policies.

On the other hand, the Middle East market of OCT is growing leaps and bounds attributing to the spurting healthcare developments. Substantial investments coupled with the favorable governmental policies and initiatives are playing an integral role in ascending the market growth.

Optical Coherence Tomography Market - Competitive Landscape

Optical Coherence Tomography market witnesses intensified completion owing to the several matured & small key players forming a competitive landscape. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players.

Key Players:

Some of the fervent players operating in the market and profiled in MRFR analysis are Abbott Laboratories, Alcon, Carl Zeiss AG, B. Braun Melsungen AG, Terumo Corporation, Koninklijke Philips N.V, NIDEK Co., Ltd, Boston Scientific Corporation, Topcon Corporation, Heidelberg Engineering GmbH, Novacam Technologies Inc., OPTOPOL Technology S.A, Agfa Healthcare, Imalux Corporation, Thorlabs Inc., and Michelson Diagnostics. Profiling them in its analysis, MRFR finds out their strategies keeping them at the forefront of competition.

Industry/Innovation/Related News:

June 27, 2018 - Axsun Technologies, Inc. (US), one of the leading manufacturers of Swept Source Optical Coherence Tomography (SSOCT) engines, announced that it has shipped over 15,000 swept lasers for OCT imaging applications worldwide from the beginning of the year. The company further also stated that continuing expansion of its portfolio of Swept Laser Engines, it has added 140nm tuning bandwidth to its wide bandwidth 1060nm Swept laser. The new Swept Laser enables 3.5um axial resolution with superior speed and imaging depth over legacy OCT technologies.

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Optical Coherence Tomography Market - Highlights

Optical Coherence Tomography or Ocular Coherence Tomography (OCT) is an emerging technology delivering three dimensional (3D) eye scan useful in the advanced diagnostic of various optical diseases such as age-related macular degeneration (ARMD), cataracts, diabetes, glaucoma and retinal detachments, etc. Similarly, these observations of the retina are used to perform coronary artery.

Using the light instead of sound waves, the OCT technology provides a high-resolution 3D image of all the major structures in the eye. Thus, OCT devices assist the optometrist in the early detection of eye abnormalities along with the cardiovascular issues such as diabetes, high blood pressure or high cholesterol. Providing non-invasive imaging tests that are simple to understand, OCT devices help availing the fastest diagnosis save a huge amount of time, eliminating the need for further consecutive tests.

Additionally, the image captured by OCT devices can be studied and review on the screen itself, which enables the eye care professional to compare successive images to identify even small changes that can occur over time. Thus, the précised detailing the OCT scan allows pinpointing abnormalities in micrometers and particular areas of concern by digitally uncovering the layers of the eye. These are some of the advantages that OCT devices provide, which drive the demand and uptake of OCT, widening its market size extensively.

Optical Coherence Tomography Market - Segmentation

The market can be segmented into four key dynamics;

By Technologies: Spectral-Domain OCT (SD-OCT), Swept-Source OCT and others.

By Applications: Ophthalmology, Dermatology, Cardiology, and others.

By Type of Devices: Table-top, Handheld, Catheter-Based OCT Devices and others.

By Regions: North America, Europe, APAC, and Rest-of-the-World (RoW).

The SD-OCT segment by technologies is estimated to acquire over 60% of the market share during the review period.

The Swept-source -OCT segment will witness over 9% CAGR during the assessment period.

The Ophthalmology segment, by applications, will command over 53% of the market share during the forecast period.

The Dermatology segment, by applications, will perceive more than 9% CAGR during the said period.

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Major Table of Content

Chapter 1. Report Prologue

Chapter 2. Market Introduction

2.1 Definition

2.2 Scope of the Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

Chapter 3. Research Methodology

3.1 Introduction

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

Chapter 4. Market Dynamics

Continued….

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This release was published on openPR.