Optical Coherence Tomography Market Worth $5.28 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, April 25, 2022 /PRNewswire/ -- The global optical coherence tomography market size is expected to reach USD 5.28 billion by 2030 and is anticipated to expand at a CAGR of 15.41% during the forecast period. Rising demand for early diagnosis of the disease, constant innovation and development of newer technologies, higher demand for new biomedical applications such as drug delivery, and rising prevalence of eye disorders is expected to drive the optical coherence tomography (OCT) market growth. However, a lack of favorable reimbursement policies and clinical information can hamper the market growth in the coming years.

Key Insights & Findings from the report:

• The frequency-domain optical coherence tomography (FD-OCT) segment accounted for the largest revenue share in 2021 followed by time-domain optical coherence tomography (TD-OCT).
• Handheld OCT devices held the largest share in 2021 owing to a wide application in the detection of diabetic retinopathy, macular degeneration, and glaucoma.
• Ophthalmology is dominating the market owing to increasing incidences of choroidal and retinal disorders and increasing adoption of optical coherence tomography devices by an ophthalmologist for imaging and diagnosing purposes.
• North America held the largest share in the optical coherence tomography market and is expected to maintain its dominance during the forecast period.

Read 190-page market research report, "Optical Coherence Tomography Market Size, Share & Trends Analysis Report By Technology (Time Domain OCT, Frequency Domain OCT, Spatially Encoded Frequency Domain OCT), By Type, By Application, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Optical Coherence Tomography Market Growth & Trends

COVID-19 pandemic has led to a huge surge in demand for medical supplies and respiratory support devices such as life-support machines, atomizers, oxygen generators, and monitors. OCT angiography is used for the imaging of retinal vascular changes in fully recovered Covid-19 patients. The key manufacturers of OCT systems are struggling to maintain their production capacity, along with finding newer methods to strengthen their presence, such as mergers and acquisitions, and collaborations with suitable market players. These initiatives by market players can be positive for the optical coherence tomography market in the upcoming year.

Optical Coherence Tomography Market Segmentation

Grand View Research has segmented the global optical coherence tomography market on the basis of technology, type, application, and region:

Technology Outlook (Revenue in USD Million, 2017 - 2030)

• Time Domain OCT (TDOCT)
• Frequency Domain OCT (FD-OCT)
• Spatial Encoded Frequency Domain OCT
• Fourier Domain OCT (FDOCT)
• Others

Type Outlook (Revenue in USD Million, 2017 - 2030)

• Catheter Based OCT Devices
• Doppler OCT Devices
• Handheld OCT Devices
• Tabletop OCT Devices

Application Outlook (Revenue in USD Million, 2017 - 2030)

• Ophthalmology
• Cardiovascular
• Oncology
• Dermatology
• Others

Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia Pacific
• China
• Japan
• India
• Australia
• South Korea
• Latin America
  
• Brazil
• Mexico
• Argentina
• Colombia
• Middle East and Africa
• South Africa
• Saudi Arabia
• UAE

List of Key Players in Optical Coherence Tomography Market

• Afga Healthcare
• Carl Zeiss Meditec AG
• Heidelberg Engineering GmbH
• Imalux Corporation
• Michelson Diagnostics
• Novacam Technologies Inc.
• OPTOPOL Technology S.A.
• Topcon Medical Systems
• Thorlabs Inc.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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