Optical Coherence Tomography Market Growth Accelerates: Strategic Forecast Predicts $3.58 Billion by 2029

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What Will the Optical Coherence Tomography Industry Market Size Be by 2025?
The market size for optical coherence tomography has seen a swift increase in past years. The market which was worth $1.89 billion in 2024, is projected to expand to $2.12 billion in 2025. This translates to a compound annual growth rate (CAGR) of 12.1%. Factors contributing to this surge during the historic period include the impact of the global pandemic, patient preferences, a competitive environment, quick-paced research and development, regulatory backing, and device miniaturization.

What's the Long-Term Growth Forecast for the Optical Coherence Tomography Market Size Through 2029?
Expect a swift expansion in the market size of optical coherence tomography in the coming years, forecasted to reach $3.59 billion by 2029, with a compounded annual growth rate (CAGR) of 14.1%. Factors contributing to this growth over the forecast period include an increase in healthcare spending, a focus on patient-oriented services, and a rising number of eye disorders. The prediction period will likely see significant trends such as the integration of oct in surgeries, changes in regulatory landscape, growth in telemedicine and remote consultations, as well as market competitiveness and innovation.

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What Are the Key Growth Drivers Fueling the Optical Coherence Tomography Market Expansion?
Growing cases of eye diseases are anticipated to boost the development of the optical coherence tomography market. Worldwide, eye disorders like cataract, glaucoma, diabetic retinopathy, and age-related macular degeneration (AMD) are significant contributors to vision loss and blindness. The increasing incidence of eye diseases is leading to a higher demand for advanced diagnostic tools such as optical coherence tomography systems. For example, the World Health Organization (WHO), a Switzerland-based agency of the United Nations, reports that over 2.2 billion people globally live with near or vision problems due to a range of eye conditions like refractive error, cataract, glaucoma, diabetic retinopathy, and others. Age-related macular degeneration (AMD) is considered the third leading cause of blindness globally, following cataracts and glaucoma. In the European Union (EU), an estimated 34 million individuals are living with AMD, with 22 million located in the five most populous nations. Projections predict a 25% increase in the AMD patient pool by 2050 because of both population growth and ageing. Primary open-angle glaucoma (POAG) is forecasted to affect 7.32 million Americans by 2050. Consequently, the escalation in the occurrence of eye disorders is expected to fuel the development of the optical coherence tomography market.

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What Are the Key Trends Driving Optical Coherence Tomography Market Growth?
One of the ongoing trends in the optical coherence tomography industry is technological advancement. Top-tier companies are frequently unveiling products with enhanced technology, introducing cutting-edge advancements to augment their revenue contribution, maintain their competitiveness in this market, and expand their share. Abbott Laboratories, a leading medical device manufacturer based in the U.S., for instance, launched its latest vascular imaging system enriched with Ultreon 1.0 Software in India in October 2023. This system combines optical coherence tomography (OCT) with artificial intelligence (AI) to offer a complete evaluation of blood flow and obstructions in the coronary arteries. The sophisticated system can distinguish between calcified and non-calcified obstructions, calculate the severity of calcium-based occlusions, and measure vessel diameter. It further aids doctors in directing precise stent placement for optimal expansion and apposition, with real-time display of results for improved accuracy during coronary stenting procedures. A distinguishing feature of Abbott's OCT technology is the use of near-infrared light for precise imaging within blood vessels, empowering physicians to secure detailed data, even in complicated patient anatomies.

How Is the Optical Coherence Tomography Market Segmented?
The optical coherence tomography market covered in this report is segmented -

1) By Type: Catheter-Based OCT Devices, Doppler OCT Devices, Handheld OCT Devices, Tabletop OCT Devices
2) By Technology: Time Domain OCT (TDOCT), Frequency Domain OCT (FD-OCT), Spatial Encoded Frequency Domain OCT
3) By Application: Ophthalmology, Cardiovascular, Oncology, Dermatology, Other Applications

Subsegments:
1) By Catheter-Based OCT Devices: Intracoronary OCT, Intravenous OCT
2) By Doppler OCT Devices: Time-Domain Doppler OCT, Frequency-Domain Doppler OCT
3) By Handheld OCT Devices: Portable Retinal OCT, Portable Cardiovascular OCT
4) By Tabletop OCT Devices: Optical Coherence Tomography Angiography (OCTA), High-Resolution OCT For Research Applications

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Which Companies Are Leading the Charge in Optical Coherence Tomography Market Innovation?
Major companies operating in the optical coherence tomography market are Agfa-Gevaert N.V., Carl Zeiss Meditec AG, Heidelberg Engineering GmbH, Imalux Corporation, Michelson Diagnostics Limited, Novacam Technologies Inc., OPTOPOL Technology Sp. z o.o., Topcon Healthcare Solutions Inc., Conavi Medical Inc., ZD Medical Inc., Excelitas Technologies Corp, Thorlabs Inc., Sonostar Technologies Co. Limited, NIDEK Co. Ltd., Leica Microsystems IR GmbH, Optovue Inc., Canon Inc., Optos Inc., Santec Corporation, Tomophase Corporation, Insight Photonic Solutions Inc., Wasatch Photonics Inc., Avinger Inc., AngioDynamics Inc., BaySpec Inc., Tornado Spectral Systems Inc., Lambda Solutions Inc., LightLab Imaging Inc., Infraredx Inc., Optoprobe Inc., Terumo Corporation, Optiscan Pty Ltd., NinePoint Medical Inc., Axsun Technologies Inc., AOT AG

Which Regions Are Leading the Global Optical Coherence Tomography Market in Revenue?
North America was the largest region in the optical coherence tomography market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the optical coherence tomography market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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