Optical Coherence Tomography Market Is Driven By Increasing Prevalence of Eye and Cardiovascular Diseases and Technological Advancements

The global optical imaging market was valued at USD 1.6 billion in 2021 and it is anticipated to grow up to USD 8.6 billion by 2031, at a CAGR of 18.3% during the forecast period.

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Optical imaging has become prevalent in the field of medical imaging over the past few years owing to its vast and constantly expanding applications in various therapeutic areas. Currently scientists and doctors use optical imaging widely for research and clinical purpose.

Market Trends and Drivers

Technological innovations to drive greater market penetration will fuel the industry growth. Optical coherence tomography (OCT) is a well-established technology, widely used in ophthalmology, employed by eye-care professionals as a tool to help understand and diagnose retinal conditions. Scientists are finding new applications in OCT - in dermatology, aesthetics, and cancer diagnosis & treatment. Over the years, there have been several advancements and innovations in the field of optical imaging. OCT technology has advanced from time-domain OCT to frequency-domain OCT, which offers higher speed and facilitates rapid 3D pullback imaging during the administration of a non-occlusive flush of an optically transparent medium or radiocontrast. Improved scanning speed, resolution, reproducibility, and availability of updated software and normative databases have further expanded the application areas of OCT systems in clinical diagnostics. This has enabled the imaging of cellular structures to the level of nerve fiber layers and ganglion cell complexes. The evolution of newer technologies, including optical coherence tomography angiography (OCTA), has added a whole new level of patient care and management to the spectrum.

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Market Restraints and Challenges

Lack of skilled operators may impede the market growth. Optical imaging is a specialized diagnostic imaging technique and needs skilled operators for effective utilization. At present, there is a dearth of skilled operators, especially in developing countries, thus being a major factor limiting the uptake of optical imaging for clinical diagnostic applications. Moreover, the technological landscape of the optical imaging market is changing rapidly, with a growing number of advanced products being launched every year. This necessitates physicians and other healthcare providers to acquire the necessary skills to operate advanced imaging systems effectively. Owing to these factors, physicians and healthcare providers are refraining from adopting advanced imaging systems, thereby affecting the growth of this market.

Major Players in the Global Optical Imaging Market

The key players in the market Carl Zeiss Meditec AG (Germany), Abbott (US), Topcon Corporation (Japan), Canon Inc. (Japan), PerkinElmer, Inc. (US), Koninklijke Philips N.V. (Netherlands), Heidelberg Engineering (US), Leica Microsystems (Germany), Headwall Photonics, Inc. (US), among others.

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Global Optical Imaging Market Segmentation

By Product

Imaging Systems
Illumination Systems
Cameras
Lenses
Software

By Techniques

Near-Infrared Spectrometry
Optical Coherence Tomography
Photoacoustic Imaging
Endoscopy
Hyperspectral Imaging

By Therapeutic Area

Ophthalmology
Neurology
Oncology
Cardiology
Dentistry
Dermatology
Others

By End-Use

Hospitals
Clinics
Research Laboratories
Diagnostic Imaging Center

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