USD 1.7 billion
Optical Coherence Tomography Market Size, Share, Growth Analysis, By Technology (Time Domain OCT (TDOCT), Frequency Domain OCT (FD-OCT)), By Type, By Application, By End User, By Region - Industry Forecast 2025-2032
Report ID:
SQMIG35B2114 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
66
|Figures:
75
Optical Coherence Tomography Market Insights
Optical Coherence Tomography Market size was valued at USD 1.96 Billion in 2023 and is poised to grow from USD 2.26 Billion in 2024 to USD 7.12 Billion by 2032, growing at a CAGR of 15.41% during the forecast period (2025-2032).
The global optical coherence tomography (OCT) market has experienced significant growth and advancements in recent years. The market is being driven by several factors, including increasing prevalence of ophthalmic and cardiovascular disorders, growing geriatric population, and technological advancements in OCT devices. One of the key drivers of the global OCT market is the rising prevalence of ophthalmic disorders, such as glaucoma, age-related macular degeneration (AMD), and diabetic retinopathy. These conditions require early detection and accurate diagnosis, which OCT enables through its ability to provide detailed images of the retina and optic nerve. Additionally, the increasing global geriatric population, who are more prone to age-related eye diseases, is boosting the demand for OCT devices. Furthermore, OCT is finding applications beyond ophthalmology in cardiology, dermatology, and oncology, among other fields.
The expanding range of applications is fueling the demand for OCT devices across various medical specialties. Moreover, technological advancements in OCT devices, such as the introduction of spectral-domain OCT (SD-OCT) and swept-source OCT (SS-OCT), have improved imaging speed and resolution, enabling more precise diagnoses. Despite the positive market outlook, the global OCT market also faces several challenges. One of the significant challenges is the high cost of OCT devices, which can limit their adoption in certain regions, especially in developing countries with limited healthcare budgets. Moreover, the lack of skilled professionals who can interpret OCT images accurately and make informed diagnoses poses a challenge to market growth.
Another challenge lies in the regulatory environment. Obtaining regulatory approvals for new OCT devices and applications can be time-consuming and expensive. This can hinder the introduction of innovative products into the market, impacting the pace of growth. Lastly, the COVID-19 pandemic has had a mixed impact on the OCT market. While there has been an increased demand for OCT devices in diagnosing and monitoring COVID-19-related complications, the overall market growth has been affected due to disruptions in the supply chain and reduced healthcare spending in certain regions.
US Optical Coherence Tomography Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
ophthalmology
Fastest Growth
ophthalmology
Growth Rate
15.4% CAGR
Global Optical Coherence Tomography Market ($ Bn)
Country Share for North America Region (%)
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Optical Coherence Tomography Market Segmental Analysis
Global Optical Coherence Tomography Market is segmented by technology, type, application, end user and region. Based on technology, the market is segmented into time domain OCT (TDOCT), frequency domain OCT (FD-OCT), spatial encoded frequency domain OCT, fourier domain OCT (FDOCT) and others. Based on type, the market is segmented into catheter based OCT devices, doppler OCT devices, handheld OCT devices and tabletop OCT devices. Based on application, the market is segmented into ophthalmology, cardiovascular, oncology and dermatology. Based on end user, the market is segmented into hospitals and clinics. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Optical Coherence Tomography Market Analysis By Type
The global optical coherence tomography (OCT) market can be segmented by type into catheter-based OCT devices, Doppler OCT devices, handheld OCT devices, and tabletop OCT devices. Among these segments, the dominant type in the market is tabletop OCT devices, while the fastest-growing segment is handheld OCT devices. Tabletop OCT devices are widely used in various medical specialties, including ophthalmology, cardiology, and dermatology. These devices are larger in size and typically used in hospitals, clinics, and specialised diagnostic centres. Tabletop OCT devices offer high-resolution imaging capabilities, allowing for detailed analysis and accurate diagnoses. They are favoured by healthcare professionals due to their versatility and advanced features, making them the dominant type in the OCT market.
On the other hand, handheld OCT devices are experiencing rapid growth and gaining popularity in recent years. These devices provide flexibility and portability, allowing healthcare practitioners to perform OCT imaging directly at the patient's bedside or in remote locations. Handheld OCT devices are particularly useful in ophthalmology for retinal imaging and in dermatology for skin examinations. The convenience and ease of use offered by handheld OCT devices have fueled their adoption, making them the fastest-growing segment in the OCT market.
Optical Coherence Tomography Market Analysis By Application
The global optical coherence tomography (OCT) market can be segmented by application into ophthalmology, cardiovascular, oncology, dermatology, and others. Among these segments, ophthalmology is the dominant application in the market, while oncology is the fastest-growing segment. Ophthalmology has been a prominent field for OCT applications, and it continues to hold a dominant position in the global market. OCT imaging plays a crucial role in the diagnosis and management of various ophthalmic conditions, such as glaucoma, age-related macular degeneration (AMD), diabetic retinopathy, and retinal disorders. The high-resolution imaging capabilities of OCT enable detailed visualisation of the retina and optic nerve, aiding in early detection, monitoring disease progression, and guiding treatment decisions. The widespread adoption of OCT technology in ophthalmology has solidified its position as the dominant application in the global market.
In recent years, oncology has emerged as the fastest-growing segment in the OCT market. OCT imaging is increasingly being utilised in the field of oncology for applications such as tumour margin assessment, tissue characterization, and monitoring treatment response. The ability of OCT to provide real-time, high-resolution, and non-invasive imaging of biological tissues makes it a valuable tool in cancer diagnosis and surgical interventions. The demand for OCT in oncology is driven by the growing need for accurate and efficient imaging techniques to aid in cancer detection, staging, and treatment planning. As the field of oncology continues to advance, the adoption of OCT in cancer care is expected to witness significant growth, making it the fastest-growing application segment in the global OCT market.
Global Optical Coherence Tomography Market By Application
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Optical Coherence Tomography Market Regional Insights
North America is the dominant market, while Asia Pacific is the fastest-growing region. North America holds a significant share in the global OCT market, primarily due to the presence of well-established healthcare infrastructure, advanced medical facilities, and a high adoption rate of innovative technologies. The region is home to several key players in the OCT industry, contributing to the dominance of North America in the market. Moreover, the rising prevalence of ophthalmic disorders, increasing geriatric population, and a strong focus on research and development activities further drive the demand for OCT devices in the region.
On the other hand, Asia Pacific is experiencing rapid growth and emerges as the fastest-growing region in the global OCT market. The region's growth can be attributed to various factors, including the expanding healthcare sector, improving healthcare infrastructure, increasing awareness about early disease diagnosis, and rising healthcare expenditure in countries like China, India, Japan, and South Korea. Additionally, the growing prevalence of chronic diseases, such as diabetes and cardiovascular disorders, is creating a demand for advanced diagnostic technologies like OCT in the region. The increasing investments by key market players and government initiatives to enhance healthcare facilities and access to advanced medical technologies are further propelling the growth of the OCT market in Asia Pacific.
Global Optical Coherence Tomography Market By Region
- Largest
- Fastest
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Optical Coherence Tomography Market Dynamics
Optical Coherence Tomography Market Drivers
Increasing Prevalence of Ophthalmic and Cardiovascular Disorders
- The rising incidence of ophthalmic diseases such as glaucoma, age-related macular degeneration (AMD), and diabetic retinopathy, as well as cardiovascular disorders like atherosclerosis and coronary artery disease, is driving the demand for optical coherence tomography (OCT) devices. OCT enables accurate diagnosis, monitoring, and treatment guidance for these conditions.
Technological Advancements
- Advances in OCT technology, such as the development of spectral-domain OCT (SD-OCT) and swept-source OCT (SS-OCT), have improved imaging speed, resolution, and depth penetration. These technological advancements have enhanced the capabilities of OCT devices, making them more efficient, user-friendly, and accurate. The continuous innovation in OCT technology is driving market growth.
Optical Coherence Tomography Market Restraints
Lack of Skilled Professionals
- Interpreting OCT images and making accurate diagnoses requires specialised training and expertise. The shortage of skilled healthcare professionals who are proficient in OCT image interpretation can impede the widespread adoption and utilisation of OCT devices. The need for trained personnel and ongoing education represents a restraint in the market.
Regulatory Challenges
- Obtaining regulatory approvals for new OCT devices and applications can be a complex and time-consuming process. Stringent regulatory requirements and varying approval timelines across different regions pose challenges for manufacturers, delaying the market entry of innovative OCT technologies and restricting market growth.
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Optical Coherence Tomography Market Competitive Landscape
The global optical coherence tomography (OCT) market features a competitive landscape characterised by a mix of established players, emerging companies, and technological advancements. The market is highly dynamic, driven by continuous research and development efforts to improve imaging capabilities and expand the range of applications for OCT devices. The competitive landscape of the global OCT market is shaped by factors such as product innovation, strategic partnerships, mergers and acquisitions, and regional expansions. Key players in the market strive to strengthen their market position by investing in research and development activities to launch technologically advanced OCT devices. These advancements include improvements in imaging speed, resolution, and functionality to meet the evolving needs of healthcare professionals and patients.
Emerging companies in the OCT market play a crucial role in driving innovation and bringing new solutions to the market. These companies focus on developing cost-effective and portable OCT devices to cater to the demands of smaller clinics, remote areas, and point-of-care settings. Their agility and ability to adapt quickly to market trends contribute to the competitive dynamics of the OCT market. Furthermore, strategic partnerships and collaborations between OCT device manufacturers and healthcare providers, research institutions, and academic centres help drive the adoption and application of OCT technology in various medical specialties. These partnerships facilitate knowledge sharing, clinical trials, and the development of new applications for OCT devices, strengthening the overall competitive landscape.
Optical Coherence Tomography Market Top Player’s Company Profile
- Agfa - Gevaert Group
- Carl Zeiss Meditec AG
- Heidelberg Engineering GmbH
- Imalux Corp
- Michelson Diagnostics
- Novacam Technologies Inc.
- OPTOPOL Technology S.A.
- Metall Zug AG
- Topcon Corporation
- Thorlabs Inc.
- Abbott.
- NIDEK Co., Ltd.
- Canon Medical Systems Corporation
- Optovue, Inc.
- Leica Microsystems GmbH
- Avinger, Inc.
- Santec Corporation
- Tomophase Corporation
- Insight Photonic Solutions Inc.
- Bioptigen, Inc.
Optical Coherence Tomography Market Recent Developments
- In January 2023, Haag-StreitUK (HS-UK) launched its OptovueiScan80 in the country. It is a high-speed OCT system ideal for practices seeking an affordable and versatile OCT system. The iScan80’s streamlined design integrates the operator interface, display, patient interface, and scan head into one console, making it ideal for small spaces.
- In February 2023, Alcon enhanced its training and educational efforts by introducing the Alcon Fidelis Virtual Reality (VR) Ophthalmic Surgical Simulator, a portable VR tool designed specifically for aspiring cataract surgeons. This simulator enables trainees to gain practical experience and skills in a virtual environment, improving their surgical proficiency and competence
Optical Coherence Tomography Key Market Trends
- Artificial Intelligence (AI) in OCT Analysis: AI and machine learning algorithms are being employed to analyse OCT images, aiding in automated segmentation, disease detection, and image interpretation. AI algorithms can assist healthcare professionals in making faster and more accurate diagnoses, improving efficiency and precision in OCT analysis.
- Telemedicine and Remote Monitoring: The COVID-19 pandemic has accelerated the adoption of telemedicine and remote monitoring solutions, including OCT. Tele-ophthalmology using OCT enables remote consultation, diagnosis, and monitoring of eye conditions, reducing the need for in-person visits and improving access to specialised care.
Optical Coherence Tomography Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global optical coherence tomography market analysis, North America dominates the global optical coherence tomography (OCT) market, driven by well-established healthcare infrastructure, advanced medical facilities, and a high adoption rate of innovative technologies. The Asia Pacific region is witnessing rapid growth and emerges as the fastest-growing market for OCT. The global optical coherence tomography (OCT) market is experiencing significant growth and innovation, driven by advancements in technology, expanding applications, and increasing demand for precise and non-invasive diagnostic imaging. OCT has established itself as a valuable tool in ophthalmology for diagnosing retinal and optic nerve conditions. However, its reach has extended beyond ophthalmology, finding applications in cardiology, dermatology, oncology, and other medical specialties.
Technological advancements have led to improved imaging capabilities, faster scanning speeds, and enhanced resolution, enabling more accurate diagnoses and treatment planning. The integration of OCT with other imaging modalities and the use of artificial intelligence in image analysis are further enhancing its diagnostic potential. The market is witnessing the development of portable and handheld OCT devices, enabling point-of-care imaging and expanding access to healthcare in remote areas. Additionally, the COVID-19 pandemic has accelerated the adoption of telemedicine and remote monitoring, with OCT playing a vital role in enabling remote consultations and monitoring of eye conditions. Overall, the global OCT market is poised for continued growth, driven by ongoing research, innovation, and the increasing recognition of OCT's value in various medical disciplines.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.7 billion |
| Market size value in 2031 | USD 6.17 billion |
| Growth Rate | 15.4% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Optical Coherence Tomography Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Optical Coherence Tomography Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Optical Coherence Tomography Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Optical Coherence Tomography Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Optical Coherence Tomography Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Optical Coherence Tomography Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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