Optical Coherence Tomography Market Insights 2019 | Dynamics, Trends, Size, Share and key Players, Forecast to 2023

Market Research Future (MRFR) has recently published a study report giving out the complete market forecast up to 2023. In its analysis, MRFR confirms that the Global Optical Coherence Tomography market will reach a valuation of USD 1483.49 million by 2023 with 8.9% CAGR throughout the review period (2017 – 2023).

The increasing prevalence of diseases and disorders related to the eyes coupled with the growing incidences of chronic diseases such as neurovascular or diabetes have impacted the market growth positively, pushing the demand for advent devices that can provide the faster diagnosis with higher accuracy. Also, technological advancements are another key factor driving the market growth of optical coherence tomography, globally.

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Also, factors such as the ongoing product development & commercialization led by the favorable reimbursement policies help boosting the market growth. Moreover, OCT has been evolved in various medical applications as one of the most critical imaging techniques. Therefore, increasing applications of OCT, coupled with the rising number of approvals from regulatory bodies account for some of the major factors, contributing to the growth of the market.

Major Players:

Key players leading the global OCT market include Abbott Laboratories, Carl Zeiss AG, Alcon, Terumo Corporation, B. Braun Melsungen AG, Koninklijke Philips N.V, Boston Scientific Corporation, NIDEK Co., Ltd, Topcon Corporation, Novacam Technologies Inc., Heidelberg Engineering GmbH, OPTOPOL Technology S.A, Imalux Corporation, Agfa Healthcare, Michelson Diagnostics, and Thorlabs Inc. among others.

Optical Coherence Tomography Market – Segments

For enhanced understanding, the report has been segmented into four key dynamics.

By Technology : Spectral-Domain OCT (SD-OCT) and Swept-Source OCT among others.

By Application : Dermatology, Ophthalmology, and Cardiology among others.

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

By Regions : Asia Pacific, North America, Europe, and the Rest-of-the-World.

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Optical Coherence Tomography Market – Regional Analysis

The North American region, heading with the large patient pool suffering from diabetes is expected to continue its dominance over the global optical coherence tomography market. Additional factors substantiating the growth of the regional market include growing the augmenting demand for the diabetic retinopathy that is supported by the growing number of diabetic patients and neurovascular and other eye-related diseases.

Moreover, factors such as the augmenting demand for the minimally invasive procedures and technologically advanced treatments, high healthcare expenditures, and government support foster the market growth in the region. Furthermore, the presence of a large number of leading players propels the growth in the regional market.

The optical coherence tomography market in the European region accounts for the second-largest market, globally. Factors supporting the growth in the regional market include the well-established healthcare sector and the growing number of advanced treatment facilities that are fuelled by the growing demand for better healthcare infrastructure and the rapidly increasing healthcare expenditures.

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