Optical Coherence Tomography (OCT) Market Size Worth $ 2,061.0 Million By 2032 | CAGR: 7.2%

The global optical coherence tomography (OCT) market size is expected to reach USD 2,061.0 million by 2032, according to a new study by Polaris Market Research. The report “Optical Coherence Tomography (OCT) Market Share, Size, Trends, Industry Analysis Report, By Technology; By; Type; By Application (Ophthalmology, Cardiovascular, Oncology, Dermatology, Others); By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The market's expansion can be attributed to a rise in the prevalence of ophthalmic disorders such as macular degeneration, diabetic retinopathy, and glaucoma. OCT has emerged as a revolutionary technology in the field of ophthalmology, enabling early detection, accurate monitoring, and precise treatment planning for these conditions.

Furthermore, advancements in OCT technology have contributed to market growth. The introduction of spectral-domain OCT (SD-OCT) and swept-source OCT (SS-OCT) has improved imaging speed, resolution, and depth penetration, enhancing the clinical utility of the technology. Incorporating OCT with other imaging modalities, such as angiography and ultrasound, has expanded its applications and diagnostic capabilities.

Additionally, manufacturers in the field of tomography are actively working to boost their production capacity and explore innovative avenues for growth. They are adopting strategies like forming partnerships with companies outside their industry, promoting open-source technical equipment, and employing skilled healthcare professionals to address the increasing healthcare demands. These efforts, combined with the impact of the new coronavirus and the subsequent shutdown, are expected to positively impact the optical coherence tomography business during the forecast period.

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In recent years, technological advancements, such as improved imaging capabilities and faster scanning speeds, are enhancing the accuracy and efficiency of OCT systems. Moreover, OCT is expanding its applications beyond ophthalmology and finding utility in various medical specialties. Integration with artificial intelligence is also gaining traction, enabling automated diagnosis and analysis of OCT images.

Furthermore, the rising demand for miniaturized and handheld OCT devices allowing for point-of-care imaging and remote patient monitoring. Non-invasive imaging techniques like OCT are increasingly preferred, driving the market growth. Furthermore, emerging markets are witnessing a surge in adopting OCT technology, supported by improving healthcare infrastructure and rising disposable incomes. These trends indicate a promising future for the OCT market, characterized by technological advancements, expanded applications, and increased accessibility.

Optical Coherence Tomography (OCT) Market Report Highlights

• spatially encoded frequency domain optical coherence tomography (OCT) Segment is expected to hold the highest CAGR over the forecast period. Due to its advanced scanning capabilities and enhanced data collection features result in superior performance compared to other OCT technologies.
• Handheld OCT devices segment is anticipated to dominate the market over the forecast period due to the increased product availability and adoption lead to market expansion beyond established regions.
• Ophthalmology segment holds the largest revenue shares of the market in 2022, due to the development of higher-performing equipment, characterized by increased accuracy, enhanced efficiency, and improved ease of use.
• North America holding the largest shares dominated the market due to increased OCT usage in diagnosing and managing various retinal disorders, including diabetic retinopathy, due to the growing incidence of such conditions and the presence of affluent suppliers in the region.
• The global key market players include Braun Melsungen AG, Boston Scientific Corporation, Abbott Laboratories, Carl Zeiss AG, Alcon, Danaher Corporation, Heidelberg Engineering GmbH, OPTOPOL Technology S.A, NIDEK Co. Ltd, and others.

Polaris Market Research has segmented the optical coherence tomography (OCT) market report based on technology, type, application, and region:

Optical Coherence Tomography (OCT), Technology Outlook (Revenue - USD Million, 2019 - 2032)

• Time Domain Optical Coherence Tomography (TDOCT)
• Frequency Domain Optical Coherence Tomography (FD-OCT)
• Spatially Encoded Frequency Domain Optical Coherence Tomography

• Fourier Domain Optical Coherence Tomography (FDOCT)
• Spectral Domain Optical Coherence Tomography (SDOCT)

Optical Coherence Tomography (OCT), Type Outlook (Revenue - USD Million, 2019 - 2032)

• Catheter-based OCT Devices
• Doppler OCT Devices
• Handheld OCT Devices
• Tabletop OCT Devices

Optical Coherence Tomography (OCT), Application Outlook (Revenue - USD Million, 2019 - 2032)

• Ophthalmology
• Cardiovascular
• Oncology
• Dermatology
• Others

Optical Coherence Tomography (OCT), Regional Outlook (Revenue - USD Million, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Optical Coherence Tomography (OCT) Market Report Scope