Wilmington, Oct. 25, 2023 (GLOBE NEWSWIRE) -- Global Optical Coherence Tomography Market value is estimated at US$ 1.6 billion in 2023 and is expected to grow at a significant CAGR of over 9.8% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
The global optical coherence tomography market is expected to grow at a strong growth rate. The prevalence of eye diseases, such as glaucoma, age-related macular degeneration (AMD), and diabetic retinopathy, is increasing globally. This is due to factors such as the aging population, the rising prevalence of diabetes, and the increasing obesity rates. OCT is a valuable tool for the diagnosis and management of these eye diseases.
Moreover, OCT is a non-invasive, high-resolution imaging technique that provides detailed images of the retina and other structures in the eye. It is used to diagnose and monitor a wide range of eye diseases and conditions. As awareness of the benefits of OCT grows, more and more clinicians are using it in their practices.
Technological advancements are making OCT devices more compact, portable, and affordable. This is driving the adoption of OCT devices in a wider range of settings, including clinics, hospitals, and research institutions.
- According to a deep-dive market assessment by RationalStat, the global optical coherence tomography market has been analyzed on the basis of market segments, including type, crop type, application and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global optical coherence tomography market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global optical coherence tomography market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Optical Coherence Tomography Market: Segmental and Market Share Analysis
- On the basis of technology, the frequency domain optical coherence tomography (FD-OCT) segment is dominating the global optical coherence tomography market. FD-OCT devices have a faster imaging speed than time-domain OCT (TD-OCT) devices. This allows FD-OCT devices to capture high-resolution images of the retina and other structures in the eye in real-time.
- Based on type, Handheld OCT devices are more portable than tabletop OCT devices. This makes them more convenient to use in a wider range of settings, including clinics, hospitals, and remote locations.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 1.6 billion |
| Market Size Forecast | US$ 3.1 billion |
| Growth Rate | 9.8% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global optical coherence tomography market include,
- In September 2023, Orbis, a global charity dedicated to fighting avoidable blindness, announced a partnership program with Heidelberg Engineering. The announcement was made during the 41st ESCRS annual meeting.
- In January 2022, II‐VI Incorporated successfully completed the acquisition of Coherent, Inc., forming a global leader in materials, networking, and lasers. Both organizations bring their own formidable strengths. The combined business will be more distributed across the value chain from materials to components, subsystems, systems, and services.
Some of the prominent players and suppliers operating and contributing significantly to the global optical coherence tomography market growth include Carl Zeiss Meditec AG, Heidelberg Engineering, Topcon Corporation, NIDEK CO., LTD., Leica Microsystems, Optovue, Inc., Agfa Healthcare, Imalux Corporation, Michelson Diagnostics Ltd., and Raytheon Company, among others.
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RationalStat has segmented the global optical coherence tomography market based on type, technology, application, and region.
- Global Optical Coherence Tomography Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Technology
- TD-OCT
- FD-OCT
- Global Optical Coherence Tomography Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type
- Doppler
- Handheld
- Global Optical Coherence Tomography Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
- Ophthalmology
- Oncology
- Global Optical Coherence Tomography Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Optical Coherence Tomography Market
- US
- Canada
- Latin America Optical Coherence Tomography Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Optical Coherence Tomography Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Optical Coherence Tomography Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Optical Coherence Tomography Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Optical Coherence Tomography Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Optical Coherence Tomography Market
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Key Questions Answered in the Optical Coherence Tomography Report:
- What will be the market value of the global optical coherence tomography market by 2030?
- What is the market size of the global optical coherence tomography market?
- What are the market drivers of the global optical coherence tomography market?
- What are the key trends in the global optical coherence tomography market?
- Which is the leading region in the global optical coherence tomography market?
- What are the major companies operating in the global optical coherence tomography market?
- What are the market shares by key segments in the global optical coherence tomography market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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