Optical Coherence Tomography Angiography (OCTA) Market Growth Is Attributed To The Increasing Demand For Tabletop Devices

According to Precision Business Insights (PBI), the latest report, the Optical Coherence Tomography Angiography (OCTA) market is expected to be worth USD 434.5 Million in 2022, growing at a 7.2% CAGR from 2022 to 2028. The global Optical Coherence Tomography Angiography (OCTA) market is segmented into the following types: By Equipment Type (Tabletop Type and Handheld Type), End User (Hospitals, Clinics, and Others), and Geography (North America, Europe, Asia Pacific, Latin America, and MEA) Forecast to 2028. Key players' profiles in the Optical Coherence Tomography Angiography (OCTA) market report are Nidek Co., Ltd., Carl Zeiss AG, Optovue, Incorporated, Canon Inc., Optopol Technolog Sp. Z O.O, Alcon Inc., Michelson Diagnostics Ltd., Topcon Corporation, Santec Corporation, and Heidelberg Engineering GmbH. Factors that could drive the OCTA market forward include an increase in the number of cancer patients, a rise in the geriatric population, the addition of optical coherence imaging techniques in dosage forms, an increase in the number of early diagnosis techniques, an increase in the adoption of advanced medical centers, and an increase in the number of patients with eye disorders. These gadgets provide higher pixel solutions, increasing the use of artificial intelligence in OCTA and the prevalence of eye-related illnesses. In addition, the growth of applications for optical coherence tomography, including critical imaging procedures, sales agreements, partnerships, and takeovers by major industry players, all contribute to the market's development. These factors include emerging advanced healthcare innovation in emerging regions, government initiatives and funding to strengthen infrastructure establishments, R&D operations to increase the effectiveness of these tomography devices, and an increase in the application domains for these devices.

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Tabletop Devices Sector Segment to Dominate the Optical Coherence Tomography Angiography (OCTA) Market:
The tabletop devices segment is expected to account for a larger revenue share in the global Optical Coherence Tomography Angiography (OCTA) market, with a value share worldwide. It is projected to grow at a 7.6% CAGR between 2022 and 2028. Most OCT systems are tabletop devices that need sitting, compliant individuals. In clinical and research studies, tabletop OCT angiography systems have produced reliable results; however, using these systems for pediatric applications is challenging.

Asia Pacific Optical Coherence Tomography Angiography (OCTA) Market:
The Asia Pacific market is expected to increase in the global Optical Coherence Tomography Angiography (OCTA) market over the forecast period. It is projected to grow at a CAGR of 8.1% in the coming years. A significant opportunity for the expansion of the OCTA market in Asia is being presented by technological advancements resulting in OCT product improvements. OCTA can help treat common diseases like choroidal neovascularization in AMD, microaneurysms, ischemia in diabetic retinopathy, occlusion and abnormalities of central and branch retinal veins, and idiosyncrasies of optic nerve vasculature through efficient research and development procedures.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Optical Coherence Tomography Angiography (OCTA) market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In September 2021, Canon Inc. acquired Redlen Technologies Inc. to make Redlen a wholly owned subsidiary. With the acquisition of Redlen, Canon will obtain advanced radiation detection and imaging technology used in CZT semiconductor detector modules, which play an important role in the development of Photon Counting CT (PCCT).

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Detailed Segmentation
Based on the Equipment type, the market is segmented into the following:
• Tabletop Type
• Handheld Type

Based on the end user, the market is segmented into the following:
• Hospitals
• Clinics
• Others


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