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Optical Coherence Tomography (OCT) for Ophthalmology Market

Optical Coherence Tomography (OCT) for Ophthalmology Market

Optical Coherence Tomography (OCT) for Ophthalmology Market Analysis By Product (Conventional, Handheld & Integrated OCT Systems) By Application (Clinical & Industrial) and By End-User – Global Market Insights 2022 to 2026

Optical Coherence Tomography (OCT) for Ophthalmology Market
FACT7618MR
  • Aug-2022
  • List of Tables : 84
  • List of Figures : 112
  • 170 Pages
  • Healthcare

Optical Coherence Tomography (OCT) for Ophthalmology Market Outlook (2022-2026)

The global optical coherence tomography (OCT) for ophthalmology market is set to enjoy a valuation of US$ 580 million in 2022 and further expand at a CAGR of 6% to reach US$ 732 million by the year 2026.

Conventional OCT systems, one of the segments profiled in the report, are expected to exhibit demand growth at a CAGR of 6% from 2022 to 2026.

Report Attributes

Details

Optical Coherence Tomography (OCT) for Ophthalmology Market Size (2022E)

US$ 580 Million

Forecasted Market Value (2026F)

US$ 732 Million

Global Market Growth Rate (2022-2026)

6% CAGR

U.S. Market Value (2022)

US$ 178 Million

China Market Value (2026)

US$ 97 Million

Key Companies Profiled

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

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Optical Coherence Tomography System Sales Analysis (2017-2021) Vs. Market Forecasts (2022-2026)

To monitor the posterior portion of the eye, optical coherence tomography has emerged as the imaging technique of choice. It is a non-invasive imaging method that makes use of reflected light to produce two- and three-dimensional images of deep structures, such as the retina of the human eye.

Optical coherence tomography, a non-contact imaging method, is being used more frequently to diagnose and treat a variety of illnesses, such as diabetic retinopathy, glaucoma, and arterial disease. Due to its capacity to offer information and photos of posterior locations that cannot be accessible via conventional techniques, it is getting a lot of traction across a variety of end-use verticals.

Based on product, various types of optical coherence tomography are available such as conventional OCT systems, handheld OCT systems, and integrated OCT systems.

For tomographic imaging of biological tissues, a method of optical imaging known as ultrasound-modulated optical computed tomography is demonstrated. To offer projection information for the image reconstruction, dispersed light's ultrasound-modulated transmitted signals are recovered.

A high-resolution, automatic 'scan' of the fundus structures is carried out by posterior optical coherence tomography, an imaging technique. Thus, the most recent models enable the observation of the various retinal layers in vivo and with micrometric accuracy up to the choroid (the layer immediately beneath).

New avenues for intravascular coronary imaging have been made possible by intravascular optical coherence tomography. It makes use of near-infrared light to give a microscopic view of the disease of coronary arteries in living things.

Demand for medical supplies and respiratory support equipment, such as life support systems, atomizers, oxygen generators, and monitors, has significantly increased as a result of the COVID-19 pandemic. For the imaging of retinal vascular alterations in COVID-19 patients who have fully recovered, OCT angiography is used.

One of the main factors driving the OCT for ophthalmology market growth is the rising cases of various cardiovascular illnesses and eye ailments around the world, and this trend is projected to continue over the coming years as well.

  • The World Health Organization (WHO) estimates that over 2.2 billion individuals worldwide suffer from a near- or distance-vision impairment brought on by eye conditions such as cataract, refractive error, glaucoma, diabetic retinopathy, and other conditions.

Demand for cutting-edge illness diagnostic tools such as optical coherence tomography systems is expanding as a result of the rise in these eye ailments.

Similar to this, the growing demand for dynamic optical coherence tomography (D-OCT) systems, which enable in vivo assessment of blood vessels and their distribution within certain lesions, will present opportunities for the producers of OCT ophthalmology equipment during the next 4 years.

Expanding at a CAGR of 6%, the global optical coherence tomography for ophthalmology market is projected to reach US$ 732 million by 2026, predicts Fact.MR, a market research and competitive intelligence provider.

Optical coherence tomography oct for ophthalmology market forecast by Fact.MR

What Aspects are Positively Influencing Sales of Optical Coherence Tomography Machines?

“High Use of OCT Machines for Clinical Application”

Optical coherence tomography in cardiology is used for the diagnostic procedure during cardiac catheterization. The rise in the incidence of cardiac and ocular diseases, the need for earlier disease diagnosis, the demand for more sophisticated ophthalmic imaging devices, technological developments in OCT systems, and the increasing use of OCT equipment in industrial settings all contribute to the optical coherence tomography market's growth.

Optical coherence tomography, which provides two- and three-dimensional viewing of the interior structure and morphology of tissues, has grown in popularity as one of the most frequently used technologies for biomedical research and medical diagnostics.

In clinical settings, normal optical coherence tomography is increasingly employed to diagnose eye conditions such as diabetic retinopathy and optic neuritis. As a result, the market for optical coherence tomography for ophthalmology will eventually expand over the projected period due to the growth in these ocular disorders.

The microvasculature of the retina and the choroid can now be imaged non-invasively using optical coherence tomography angiography (OCT-A). In 2014, the first clinical studies utilizing this ground-breaking technique were revealed.

The global optical coherence tomography market size will increase over the forecast period as more medical procedures, such as angioplasty, using optical coherence tomography equipment. To focus on precision during challenging surgeries, medical personnel employ OCT to capture images of blood arteries and other tissues during surgical procedures.

“Technological Advancements in OCT Systems Expanding OCT Ophthalmology Market Size”

Leading producers of optical coherence tomography equipment are consistently investing in R&D initiatives to increase the application of OCT for various neoplastic and inflammatory skin conditions. They are introducing cutting-edge, swift, and accurate OCT technologies. In the coming years, this will support the expansion of optical coherence tomography in ophthalmology industry.

Due to its non-destructive and contactless nature as well as the rapidly expanding market for OCT imaging systems, optical coherence tomography is increasingly being used for assessment and quality control applications across industries, which is expected to increase the market share for the technology. During manufacturing processes, optical coherence tomography has demonstrated promising results in the inline inspection of multi-layered items.

An Adaptive Approach to Modern-day Research Needs

Which Factors are Adversely Affecting Sales of OCT Machines for Ophthalmology?

“High Cost of Optical Coherence Tomography Devices & Availability of Substitute Systems”

Despite optimistic growth predictions, several obstacles are preventing the optical coherence tomography business from expanding as much as it might otherwise. The high cost of optical coherence tomography devices, the absence of reimbursement regulations, and the availability of substitute technologies such as ultrasound biomicroscopy are a few of these challenges.

Which Regions are Expected to Generate High Revenue for OCT Ophthalmology Equipment Manufacturers?

“Asia Pacific Profitable Region for OCT Equipment Producers Due to Rapidly Developing Healthcare Sector”

The increasing cases of diabetic retinopathy in the North America region as well as the increased use of retinopathy for macular degeneration, retinal diseases, and glaucoma can be attributed to the region's dominant position in the global optical coherence tomography for ophthalmology market.

In Europe, vision impairment is a prevalent problem. The prevalence of such issues could rise in the future due to a rapidly increasing rate of the senior population in the region. The severity of vision impairments can range from minor vision anomalies to total blindness.

  • Refractive problems, cataracts, macular degeneration, and glaucoma are common causes of vision loss. Over 8.5 million persons in Western Europe alone suffered from moderate to severe vision loss as a result of refractive diseases. The increasing case of eye problems in Europe, especially in Eastern Europe, nearly 7.5 per cent of people in the region had near vision impairment, in 2020, it was found that 3.6 per cent had moderate-to-severe vision loss, and 2 per cent had mild vision impairment.

During the projected period, it is anticipated that the Asia Pacific regional market will continue to expand at the fastest rate. Numerous factors, including the rising prevalence of chronic diseases, the increased use of cutting-edge technologies, the presence of a sizable geriatric population, increasing surgical procedure reimbursement, and a strong preference for minimally invasive procedures over conventional techniques, all contribute to the regional market's rapid growth.

Furthermore, it is projected that during the forecast period, rising awareness of eye problems will fuel market expansion in this region.

Country-wise Analysis

Why is the United States a Profitable Market for Optical Coherence Tomography Devices?

“Rising Prevalence of Eye Disorders Such as Diabetic Retinopathy & Growing Adoption of Advanced Imaging Systems”

The U.S. market for OCT systems is valued at US$ 178 million, in 2022.

Rising prevalence of eye disorders, rising adoption of cutting-edge technologies such as Fourier domain OCT systems in industrial and clinical applications, favourable government support, and the presence of top optical coherence tomography machine manufacturers are all contributing factors to the growth of the U.S. optical coherence tomography for ophthalmology market.

Increasing rates of eye conditions such as diabetic retinopathy and glaucoma are anticipated to fuel the expansion of the optical coherence tomography for ophthalmology market in the United States over the forecast period.

  • By 2032, there will be 11.3 million and 4.3 million Americans suffering from diabetic retinopathy and glaucoma, respectively, according to the National Eye Institute (NEI).

As a result, there will be a huge market in the nation for cutting-edge diagnostic and therapeutic methods such as optical coherence tomography.

Similar to this, industrial growth applications for optical coherence tomography systems, such as non-destructive testing & industrial quality control, will increase the size of the optical coherence tomography for ophthalmology market in the nation.

Will China’s Market Be Profitable for Optical Coherence Tomography System Producers?

“Increased Sales of Optical Coherence Tomography Systems Being Driven by Growing Demand for Automated Healthcare Systems”

The market for OCT systems in China is expected to attain a valuation of US$ 97 million, in 2026.

The market for OCT imaging systems in China is expected to expand at a rapid CAGR during the forecast period as a result of the rising adoption of automated technologies for improved disease diagnosis and monitoring, the accessibility of high-end OCT machines at lower costs, the expansion of the OCT imaging systems market, and the growing popularity of OCT in industrial applications.

Category-wise Analysis

Who is the Leading End User in the OCT for Ophthalmology Market?

"Healthcare Industry Continues to Account for Majority of Sales of Optical Coherence Tomography Systems"

Based on end user, the segment is classified into hospitals, ambulatory surgical centres, ophthalmic clinics, semiconductor industries, chemical & polymer industries, automotive industry, and others.

The healthcare sector (especially hospitals, ambulatory surgical centres, and ophthalmic clinics) holds a dominant position in OCT for ophthalmology market, and is expected to expand at a high CAGR during the forecast period.

Increased utilization of OCT systems during diagnostic and surgical operations, rising cases of eye disorders including retinopathy, and the quickly growing healthcare sector are some of the reasons propelling the growth of OCT in ophthalmology market.

In addition, the increased acceptance of widefield imaging systems in the healthcare sector will accelerate segment expansion over the forecast period.

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Competitive Landscape

To increase their revenue share and gain an advantage in the global optical coherence tomography market, key players have adopted a variety of growth strategies, including investments in research and development, the introduction of new products, strategic collaborations, alliances, acquisitions, and the use of cutting-edge technologies.

  • Canon Singapore introduced the Xephilio OCT-S1 in July 2021. It is a cutting-edge wide-field sweeping source of optical coherence tomography that can take up to 2320 mm high-resolution photos in a single scan.
  • Perimeter Medical Imaging AI, Inc. declared in June 2021 that it has successfully finished the technology transfer of its manufacturing process with Minnetronix Medical for the creation of its optical coherence tomography imaging devices.

Segments of Optical Coherence Tomography for Ophthalmology Industry Research

  • By Product :

    • Conventional OCT Systems
    • Handheld OCT Systems
    • Integrated OCT Systems
  • By Application :

    • Clinical
    • Industrial
  • By End User :

    • Hospitals
    • Ambulatory Surgical Centres
    • Ophthalmic Clinics
    • Semiconductor Industries
    • Chemical & Polymer Industries
    • Automotive Industry
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

- FAQs -

The market for optical coherence tomography is majorly driven by the U.S., U.K., Germany, Canada, and Japan.
The global optical coherence tomography for ophthalmology market is valued at US$ 580 million in 2022.
By 2026, optical coherence tomography equipment demand is anticipated to reach US$ 732 million.
The global optical coherence tomography for ophthalmology market is estimated to expand at 6% CAGR through 2026.
The China market for optical coherence tomography devices is predicted to reach US$ 97 million by 2026.

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