The Optical Coherence Tomography Market is enjoying its growing popularity in the healthcare sector as physicians are relying more on imaging technology for accurate diagnosis. Optical Coherence Tomography, a non-invasive imaging technology, generates pseudo-color imaging of the tissue structure in real-time. It’s quite similar to ultrasound, but it uses light not sound.
Spectral-domain OCT (SD-OCT) is almost 50-1000 times faster than the time-domain (TD) optical technology. The swept-source OCT (SS-OCT) is also riding high on the new-found popularity owing to its faster operational capabilities. The global optical coherence tomography market is expecting a rise of 8.9% CAGR during the forecast period (2017-2023), claims Market Research Future (MRFR). The published report includes an overall understanding of the segments, expert inputs, competitive scenario, and drivers that can influence the market in the coming years.
Among the major features, the optical coherence tomography market is gaining tailwind mainly from the regulatory bodies who are lenient in dealing with new products. At the same time, favorable reimbursements are influencing patients in having such tests which are spurring growth. The imaging technology that is now available is quite advanced which the major hospitals want as a part of their portfolio. Increasing investment from both the public and private sector is helping the optical coherence tomography market to expand more. In line with that, emerging countries have realized their prospect as medical tourism hub which is pushing those countries forward in allotting investments accordingly for an infrastructural upliftment.
Despite such advantages, the optical coherence tomography market can get bogged down owing to the high price of the machines which many cannot afford. However, it can be tackled by the participating NGOs, government initiatives, and private investments.
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Optical Coherence Tomography Market – Competitive Landscape
Prominent players to impact the optical coherence tomography market are Alcon, Carl Zeiss AG,Abbott Laboratories, Heidelberg Engineering GmbH, Terumo Corporation, B. Braun Melsungen AG, Boston Scientific Corporation, Topcon Corporation, KONINKLIJKE PHILIPS N.V, OPTOPOL Technology S.A, Optovue, Michelson Diagnostics, Thorlabs Inc., NIDEK Co., Ltd, Novacam Technologies Inc, Agfa Healthcare, Imalux Corporation, and others.
In January 2018, researchers from Sheridan University and Boston University have developed a fiber-based pull-back circumferential scanning OCT. The machine has an outer diameter of 6mm. With a bandwidth of 500-695 mm it can provide a high-resolution and contrasting image.
In November 2018, scholars from École Polytechnique de Montréal, Université de Montréal, and Université de Sherbrooke came up with automated dual-resolution serial optical coherence tomography (2R-SOCT) scanner, which has provided an image of the entire mouse brain with MRI inputs.
Optical Coherence Tomography Market – Segmental Analysis
The Global Optical Coherence Tomography Market is segmented on the basis of technology, application, and type of devices.
Based on the technology, the optical coherence tomography market includes swept-source OCT, spectral-domain OCT (SD-OCT), and others.
Application-wise the optical coherence tomography market can be segmented into oncology, ophthalmology, cardiology, dermatology, and others.
Based on the type of devices, the optical coherence tomography market comprises handheld OCT devices, catheter-based OCT devices, tabletop OCT devices, and others.
Optical Coherence Tomography Market – Regional Analysis
Region-specific analysis of the optical coherence tomography market includes the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas is dominating the global market with substantial market share. The market is quite superior to other regions when it comes to the infrastructure which gives the regional market an edge over the rest. In sync, with investment for technological upgradation, research and development sector is growing and is producing innovative products that can cement their foothold during the forecast period.
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Europe assumes the second place. Its features are quite similar to that of the Americas. The region has several market titans who are spending substantially to improve their market position. Prevalence of diabetic retinopathy and other eye diseases are triggering the regional market growth. The APAC market is expecting the fastest CAGR during the forecast period. Several countries are focusing on a technological upheaval that can transform their regional market.
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