Optical Coherence Tomography Angiography Equipment Market to Witness Increase in Revenues by 2024

Optical coherence tomography was introduced in 1991 and has established several applications apart from ophthalmology, as it is used to observe various non-transparent tissues. Optical coherence tomography angiography aka OCTA is a non-invasive, novel imaging system that generates volumetric data of choroidal and retinal layers. It is capable of showing both blood and structural flow information. Optical coherence tomography angiography is used to picture general retinal diseases such as age-related macular degeneration, choroideremia, and diabetic retinopathy that are the chief reasons to cause blindness. It is most commonly used imaging modality in the field of ophthalmology. Optical coherence tomography angiography is precise for guiding treatment and evaluating fluid accumulation in diseases related to the retina. Though, to identify neovascularization or capillary dropout in age-related macular degeneration or diabetic retinopathy, ophthalmologists favor fluorescein dye to observe the retinal vasculature and further use indocyanine green dye to visualize the choroidal vasculature. Dyes are intravenously administered, which is time-consuming and may cause adverse effects such as nausea and vomiting. Furthermore, the 2-D images obtained from this angiography might be blurred at the edges due to leakage of dye. 

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During recent years, optical coherence tomography angiography has received substantial attention and acceptance due to its greater convenience, safety, and precision. The optical coherence tomography angiography permits patients to be diagnosed with no threat of infection, in a comparatively painless way along with negligible discomfort, executed on an outpatient basis. Growing prevalence and incidence of several forms of disorders related to eye and affordable diagnosis costs are expected to fuel the growth of optical coherence tomography angiography among a large base of the population, particularly in aging population. 

Currently, optical coherence tomography angiography equipment market is driven by the technical innovation in healthcare industry, increasing geriatric population around the globe, technological advancements in handheld devices for detecting macular degeneration and glaucoma, improved adoption of retinal implants, developed consciousness through education, swift market approvals, and  growing research and development in field of optical coherence tomography angiography. The leading companies in the market are investing heavily in educating professionals about the benefits of optical coherence tomography angiography equipment; this is what is likely to have the optimistic impact on the growth of the optical coherence tomography angiography equipment market. Besides, the increasing interest of companies operating in the optical coherence tomography angiography equipment market segment will make the existing optical coherence tomography angiography equipment market more standardized and competitive regarding quality assurance. Lack of reimbursement and robust competition from domestic manufacturers will lead to falling average price of the optical coherence tomography angiography equipment worldwide impacting the overall market growth.

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Depending on geographic regions, the global optical coherence tomography angiography equipment market is segmented into five key regions: North America, Latin America, Europe, APAC and the Middle East & Africa.

Regarding geography North America dominates the optical coherence tomography angiography equipment market followed by Latin America and Europe. Asia Pacific is expected to raise at a high pace during the coming years. Also it is the fastest emerging market for optical coherence tomography angiography equipment market, owing to the reason that countries like China and India are more promising because of growing number of hospitals in these regions and large population pool fueled by rising incidence and prevalence of eye disorders related to age coupled with introduction of technologically advanced treatment options, better healthcare setup facilities, and rising awareness are some of factors expected to create revenue traction in market over North America and others.

Some of the key player in the optical coherence tomography angiography equipment market are Canon Inc., Nidek, OPTOPOL Technology, Carl Zeiss, Optovue, Inc, Heidelberg Engineering, Inc., among several others.

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