According to estimates, the global Optical Coherence Tomography Market will be worth US$ 1.1 billion in 2021 and US$ 1.2 billion in 2022. Due to the expanding use of optical coherence tomography in clinical and industrial applications, it is anticipated that the global demand for the technology will rise at an exceptional CAGR of 9.8% from 2022 to 2032, reaching over US$ 3.0 Bn by the end of that year.
The global market for optical coherence tomography, which Future Market Insights estimates to be worth over US$ 1.1 billion in 2021, is anticipated to grow at a CAGR of 9.8% during the time of the forecast (2022-2032).
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Systems for optical coherence tomography have many uses in the technical, non-technical, and medical fields. Key manufacturers are concentrating on innovations to retain the new application specifications of their products in light of the growing uses, hence keeping a strong portfolio.
The development of intelligently made devices is receiving a boost from the incorporation of automated technology for early illness indication. The market value of optical coherence tomography systems will increase as a result.
According to FMI, the high cost of equipment construction and maintenance as well as the need for qualified personnel to operate such systems may limit the market's overall growth.
However, growing research efforts to expand the capabilities of various device characteristics to cover a variety of applications, together with the granting of pre-market clearances for such devices and systems, is expected to boost OCT system sales across the globe.
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Key Takeaways from Market Study
- Based on product type, fourier domain optical coherence tomography (FD-OCT) systems are expected to hold over 66.6% market value share by the end of 2032.
- Clinical applications held a market share value of 63.4% in 2021 owing to growing rate of eye disease and need for advanced clinical set up for patients.
- In terms of scanning speed, the 32000 A-scans/sec segment held maximum market share value of 15.6% in 2021.
- Healthcare settings held a market share value of 62.7%in 2021 and the trend is likely to continue in the future owing to the growing patient pool within the healthcare settings
- North America is slated to be the largest leading region with a value share of 44.2% at the end of the forecast period.“Wide applications of OCT systems within the medical sphere has encouraged the adoption of optical coherence tomography systems over the globe” says an analyst of Future Market Insights.
Market Competition
Key companies are rapidly advancing towards the design and development of OCT systems which will promote larger precision and lower time-related analysis of disease during, thus determining accuracy with swift metrics on patient health.
- In November 2020, NIDEK Co. Ltd. launched a Mirante SLO model with advanced functionality and imaging capabilities.
- In June 2021, Excelitas Technologies announced the acquisition of PCO AG to expand its portfolio of sensing, illumination, and optical products.
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What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the optical coherence tomography market in its latest study, presenting historical demand assessment of 2017 – 2021 and projections for 2022 – 2032.
The research study is based on the product (time-domain (TD-OCT) systems and Fourier domain optical coherence tomography (FD-OCT) Systems (spectral domain-OCT and swept source-OCT)), application (clinical(ophthalmology, cardiovascular, dermatology and dental) and industrial (non-destructive testing, industrial quality control and others)), scanning speed (400 A-scans/sec, 4000 A-scans/sec, 20000 A-scans/sec, 32000 A-scans/sec, 40000 A-scans/sec, 70000 A-scans/sec, 80000 A-scans/sec, 100000 A-scans/sec and 250,000 A-scans/sec), end user (healthcare settings (hospitals, ambulatory surgical centres and specialty clinics), food industry, semiconductor industries, chemical & polymer industries and automotive industry) and across seven key regions of the world.
Key Market Segments Covered in Optical Coherence Tomography Industry Research
By Product:
- Time-Domain Optical Coherence Tomography (TD-OCT) Systems
- Fourier Domain Optical Coherence Tomography (FDOCT) Systems
- Spectral Domain-OCT
- Swept Source-OCT
By Application:
- Clinical
- Ophthalmology
- Cardiovascular
- Dermatology
- Dental
- Industrial
- Non-destructive Testing
- Industrial Quality Control
- Others
By Scanning Speed:
- 400 A-scans/sec
- 4000 A-scans/sec
- 20000 A-scans/sec
- 32000 A-scans/sec
- 40000 A-scans/sec
- 70000 A-scans/sec
- 80000 A-scans/sec
- 100000 A-scans/sec
- 250,000 A-scans/sec
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By End User:
- Healthcare Settings
- Hospitals
- Ambulatory Surgical Centres
- Specialty Clinics
- Food Industry
- Semiconductor Industries
- Chemical & Polymer Industries
- Automotive Industry
