Optical Coherence Tomography (OCT), is a non-invasive imaging test which uses light waves to take cross-sectional images of the eyes. These measurements help the ophthalmologist to view each distinctive layer of the eye, and map as well as measure the thickness. These measurements help with diagnosis and provide treatment guidance for glaucoma, age related macular degeneration (AMD), and diabetic eye disease. Carl Zeiss Meditec AG was the first manufacturer to launch the first commercial Zeiss OCT 1 in the market in 1996.
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Another manufacturer, Optovue, Incorporated launched iScan in 2014 in the U.S market which automatically performs all of the focus and alignment operations while taking the patient through the examination procedure. Other manufacturers operating in the global optical coherence tomography devices market are Carl Zeiss Meditec AG, Leica Microsystems, Bausch Health Companies Inc. and others.
Global Optical Coherence Tomography Devices Market Drivers
Leading manufacturers are focused on the manufacture of new products in the global optical coherence tomography devices market. For instance, clinical trials are being carried out by the University College, London and National Institute of Health Research, United Kingdom, (Trail start date – May 2018 and estimated study completion date- March 2020) to develop Binocular OCT imaging for the assessment of eye disease, eye infections, and eye inflammation. The device can be self-operated and will have the potential to perform automated, quantitative pupillary measurements which is a novel function that is not present in any conventional OCT.
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Moreover, in 2018, Perimeter Medical Imaging received U.S. Food and Drug Administration (U.S. FDA) approval for its Optical Tissue Imaging System (OTIS) which is used for the evaluation of human tissue microstructure by providing two-dimensional, cross-sectional, real-time depth visualization. In 2016, Michelson Diagnostics, a medical company integrated the dynamic OCT imaging technology with the VivoSight point-of-care scanner which can be used for visualizing the structure of blood vessels beneath the surface of the skin and the effects of the therapeutic agent on this vasculature in real time. This breakthrough development has the potential of assisting the dermatologist in detection and prognosis of melanoma, as well as monitoring the effectiveness of treatments for multiple skin conditions.
The advantages of OCT over other imaging techniques such as Magnetic Resonance Imaging (MRI), Computed Tomography (CT-Scan) etc. on the basis of quality images, imaging speed, label free imaging, and additional functionality (Time domain OCT, Fourier domain OCT, Doppler OCT, Polarization sensitive OCT, spectroscopic OCT), and cost effectiveness.
Prevalence of eye disorders and their impact on the population have been reported worldwide. For instance, according to the World Health Organization (WHO) statistics, 2019, world-wide, in 2016, around 2.2 billion people were suffering from vision impairment or blindness, out of which, blindness in 1 billion people could have been prevented. 1 billion people are suffering from vision impairment or blindness due to unaddressed refractive error (123.7 million), cataract (65.2 million), glaucoma (6.9 million), corneal opacities (4.2 million), diabetic retinopathy (3 million), and trachoma (2 million), as well as near vision impairment caused by unaddressed presbyopia (826 million). The above factors are expected to boost the global optical coherence tomography devices market growth over the forecast period.
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Global Optical Coherence Tomography Devices Market Restraints
Following factors are responsible for restraining the growth of the global optical coherence tomography devices over the forecast period. The penetration depth of OCT is very less as compared to other imaging techniques like Intravascular Ultrasound Systems (IVUS). For instance, the penetration depth of IVUS and OCT is around 4-8 mm and 2-3 mm respectively. This limitation does not allow lower tissue depth of penetration. Other limitations of using OCT is a limited field of view and bulky instrumentation which occupies half of the desk table.
Global Optical Coherence Tomography Devices Market Regional Analysis
North America is expected to hold the dominant position in the global optical coherence tomography devices market over the forecast period owing to a large customer base and increasing incidence of eye disorders among the population. For instance, in March 2019, Optvue launched AngioWellness at the Vision Expo East, New York. The AngioWellness scan utilizes Optovue’s advanced AngioVue OCT Angiography (OCTA) technology to quickly assess and diagnose new pathologies in patients suffering from diabetes and may be at a risk of developing glaucoma.
Another manufacturer Avinger, launched an enhanced version of company’s Lightbox L250 in U.S., in 2016. Lightbox L250 has modified HD output via HDMI which allows for deeper integration of Avinger’s OCT imaging technology into the Cath lab environment.
Highest prevalence of eye disorders have been reported in North America. For instance, according to National Center for Biotechnology Information, (NCBI), 2016, statistics, around 11 million Americans aged 12 years and above have vision impairment and they could improve their vision through proper refractive correction. Moreover, more than 3.3 million Americans aged 40 years and above are either completely blind or have low vision. The common causes of blindness and low vision in the U.S. are primarily age-related eye diseases such as age-related macular degeneration, cataract, diabetic retinopathy, glaucoma, amblyopia and strabismus.
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Incidences of eye disorders have also been reported in Europe. For instance, according to the National Center for Biotechnology Information (NCBI), 2018, in the year 2017, in Western Europe around 1.16 million and 9.47 million people were affected from blindness and low vision impairment respectively.
Most of the manufacturers have wide-spread presence in the North America and European regions, therefore, modifications as well as introduction of new technologies is expected to drive the optical coherence tomography devices market growth in these regions over the forecast period.
Global Optical Coherence Tomography Devices Market Key Players
Carl Zeiss Meditec AG, Leica Microsystems, Bausch Health Companies Inc., Teledyne UK Limited, Michelson Diagnostics Ltd, SCHWIND eye-tech-solutions, Wasatch Photonics, Enhanced Medical Services, Optovue, Incorporated and Ibsen Photonics A/S.
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Global Optical Coherence Tomography Devices Market: Taxonomy
By Product Type:
- Portable OCT Systems
- Catheter Based OCT Systems
- Tabletop OCT Systems
- Time Domain Optical Coherence Tomography (TDOCT)
- Frequency Domain Optical Coherence Tomography (FD-OCT)
- Spatially Encoded Frequency Domain Optical Coherence Tomography
- Spectral Domain Optical Coherence Tomography (SDOCT)
- Fourier Domain Optical Coherence Tomography (FDOCT)
By Distribution Channel:
- Ambulatory Surgical Centre
- Ophthalmic Clinics
- North America
- Latin America
- Asia Pacific
- Middle East
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