Optical Coherence Tomography Market Generate High Market Demand Represent CAGR 8.9% by 2023 | Top Key Players | Abbott Laboratories, KONINKLIJKE PHILIPS N.V, Boston Scientific Co. etc.

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.

Optical Coherence Tomography Market - 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.

May 30, 2018 – Heidelberg Engineering, Inc. (Germany), a high-tech imaging company specializing in the diagnostic equipment for ophthalmology announced that its next generation of its Spectralis imaging device OCT2 module is being sent into space by NASA. Since 2013, NASA researchers have been using the Spectralis optical coherence tomography (OCT) device to investigate the effects of a microgravity environment on vision. The OCT2 module will help retina specialist on the NASA space flight to image deeper structures in the eye that are affected by long-term space flight such as the posterior optic nerve head anatomy and the choroidal blood supply to the retina.

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Optical Coherence Tomography Market – Highlights

Optical Coherence Tomography (OCT), an emerging technology for performing high-resolution cross-sectional imaging analogous to ultrasound imaging, using light instead of sound. OCT non-invasive imaging test provide cross-section pictures retina, which helps diagnosis for glaucoma, AMD (age-related macular degeneration) and diabetic eye disease among other diseases of the retina. Similarly, these observations of retina are useful to perform coronary artery.

Acknowledging the traction, the market is vibrating with; Market Research Future (MRFR) in its recently published study report asserts that the global Optical Coherence Tomography market gaining further prominence will register a spectacular growth of USD 1483.49 million by 2023, posting a striking CAGR of 8.9% during 2017 – 2023.

Factors such as favorable reimbursement policies, coupled with the ongoing product development & commercialization help boosting the market growth. OCT has been evolved as one of the most important imaging techniques in various medical applications. Hence, increasing applications of OCT, and rising approval from regulatory bodies account for some of the predominant factors, fueling the market growth.

Growing prevalence of coronary, neurovascular and other retina related diseases fueled by the changing lifestyle, and sedentary lifestyle are increasing the demand for OCT, increasing its market growth. Therefore, the global Optical Coherence Tomography market is growing pervasively. Technological advancements that took place in the field of medical science is also one of the key factors fostering the market growth.

Optical Coherence Tomography Market - Key Finding

The Global Optical Coherence Tomography Market is expected to reach USD 1483.49 million by 2023 at a CAGR of 8.9%.

On the basis of the technology, Spectral-domain OCT (SD-OCT) is expected to command the largest market share of 60.1% over the review period, and Swept-source OCT is expected to grow at the fastest CAGR of 9.1% during the forecast period 2017-2023

On the basis of the Application, ophthalmology segment is expected to command the largest market share of 53.6% over the review period, and Dermatology is expected to grow at the fastest CAGR of 9.3% during the forecast period 2017-2023

The Americas hold the largest share of the global optical coherence tomography market and is expected to reach USD 558.34 million by 2023
Asia Pacific is the fastest growing market, which is expected to grow at a CAGR of 9.4% over the 2017-2023

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Optical Coherence Tomography Market - Segmentation

The Optical Coherence Tomography 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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This release was published on openPR.