Optical Coherence Tomography Market Projected to Expand at 8.9% CAGR To Reach USD1483.49 Million Due to Rising Healthcare Expenditure

Market Research Future (MRFR) asserts that the Global Optical Coherence Tomography Market is expected to mark a CAGR of 8.9% over the review period 2017 to 2023. The market’s valuation is projected to touch USD 1483.49 Mn mark by the end of the projection period.

Optical Coherence Tomography is a minimally invasive imaging technology that facilitates real-time representation of tissue structure. It is a comparatively newer technology and is expected to gain quick mileage in the years to come.

Technological advancements are projected to dictate the growth pattern of the optical coherence tomography market over the next couple of years. Case to the point is, the replacement of time-domain optical technology (TD-OCT) with Spectral-domain OCT (SD-OCT) is likely to accelerate adoption across the healthcare sector in the foreseeable future. The new technology is 50 to 1000 times faster than the previous one. It is anticipated to boost the expansion pace of the optical coherence tomography market over the assessment period.

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The rising prevalence of chronic diseases has intensified the need for more effective healthcare technologies. It is poised to provide impetus to market growth over the next couple of years. In addition, the increasing demand for minimally invasive technologies is prognosticated to catapult optical coherence tomography market on upward trajectory.

Increasing healthcare expenditure is favorable for the expansion of the market. In addition, the improvements in the healthcare infrastructure of developed and developing nations are projected to boost revenue growth for the market players.

The technology is likely to gain traction over the next couple of years. The support extended by the governments in conjunction with rising approvals is poised to favor the growth of the optical coherence tomography market in the foreseeable future.

Optical Coherence Tomography Market - Competitive Dashboard

The noted players profiled for share analysis of the Global Optical Coherence Tomography Market are

Carl Zeiss AG
Terumo Corporation
Abbott Laboratories
Boston Scientific Corporation
Braun Melsungen AG
Topcon Corporation
Novacam Technologies Inc
NIDEK Co., Ltd
OPTOPOL Technology S.A
Heidelberg Engineering GmbH
Michelson Diagnostics
Agfa Healthcare
Imalux Corporation
Thorlabs Inc.

Optical Coherence Tomography Market - Segmentation

On the basis of the technology, the Global Optical Coherence Tomography Market has been segmented into spectral-domain OCT (SD-OCT), swept-source OCT, and others.

Based on application, the optical coherence tomography market has been segmented into cardiology, dermatology, ophthalmology, oncology, and others.

On the basis of the type of devices, the global optical coherence tomography market is segmented into tabletop OCT devices, handheld OCT devices, catheter-based OCT devices, and others.

Optical Coherence Tomography Market - Regional Analysis

The Global Optical Coherence Tomography Market, by region, has been segmented into four regions, namely Asia Pacific, Europe, North America, and the Middle East & Africa (MEA). Americas is anticipated to reach a valuation of USD 558.34 Mn while retaining its dominant position through the forecast period. The increasing prevalence of retinal disorders in the region is poised to fuel demand for the technology over the next couple of years.

In addition, the quick adoption of next-gen healthcare technologies in the region is expected to unleash immense developmental opportunities to the optical coherence tomography market in the next few years. The growing healthcare expenditure of the region is anticipated to boost the revenue growth of the market in the forthcoming years.

Asia Pacific, on the other hand, is set to grow by leaps and bounds. The regional Optical Coherence Tomography Market is projected to scale a CAGR of 9.4% across the projection period. The rising patient population, in conjunction with growing developments in the medical tourism industry, is projected to catapult the regional market on upward trajectory.

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