May 21, 2024
Optical Coherence Tomography Devices Market

Optical Coherence Tomography Devices Market is Estimated To Witness High Growth Owing To Adoption of Advanced Devices and Technologies.

The Optical Coherence Tomography Devices Market is estimated to be valued at US$ 1.7 billion in 2023 and is expected to exhibit a CAGR of 15.57% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Optical coherence tomography (OCT) is an interferometric medical imaging technique that uses light to capture micrometer-resolution, two-dimensional or three-dimensional images from within optical scattering media (in particular biological tissue). OCT enables visualization of tissue microstructure in situ and in real time through optical ‘cross sections’ of tissue, analogous to ultrasounds. It can image tissue structure on the micron scale. OCT is used in many medical fields including ophthalmology, cardiology, dermatology, and gastroenterology.

Market key trends:

One of the key trends in the Optical Coherence Tomography Devices market is the adoption of advanced devices and technologies. Manufacturers are focusing on developing advanced OCT devices with enhanced resolution, imaging speed and features. For instance, spectral domain OCT (SD-OCT) systems offer faster image acquisition over traditional time domain systems. SD-OCT systems are able to acquire images 20-100 times faster than TD-OCT systems. In addition, swept source OCT (SS-OCT) systems using long wavelength laser sources provide deeper tissue penetration and larger imaging ranges compared to SD-OCT. Manufacturers are also developing integrated OCT systems combining OCT with other modalities such as OCT angiography (OCTA) for microvascular imaging, OCT combined with fundus imaging, and handheld OCT devices for point-of-care use. Such advanced devices expand the clinical applications of OCT across various medical specialties.

The Optical Coherence Tomography Devices Market is estimated to be valued at US$ 1.7 billion or billion in 2023 and is expected to exhibit a CAGR of 15.57% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The Global Optical Coherence Tomography Devices Market Growth is witnessing significant owing to rising prevalence of ocular diseases such as glaucoma, diabetic retinopathy, and age-related macular degeneration. As per statistics by The World Health Organization (WHO), it is estimated that over 1.3 billion people worldwide are affected by some type of refractive error, while roughly 367 million have diabetic retinopathy, 216 million suffer from glaucoma, 190 million have cataracts, and 186 million are afflicted with age-related macular degeneration (AMD). This is expected to increase demand for early diagnosis using OCT devices. Additionally, increasing demand for non-invasive imaging technologies by ophthalmologists and patients for diagnosis and disease monitoring is also supporting market growth. Manufacturers are continuously focusing on developing advanced OCT devices with improved resolution and accuracy to diagnose a wide range of ocular diseases, which is further expected to drive the market during the forecast period.

 

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it