Optical Coherence Tomography (OCT) Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Optical coherence tomography is a form of non-invasive imaging test. This technique uses coherent light to capture two and three dimensional images. OCT is a technique to examine the transparent tissues. It is mostly used for analysis in the field of ophthalmology to monitor the condition of a retina. In recent days, there have been various technological developments in the field of OCT, hence increasing its scope of applications in the medical industry. OCT is used in biopsy due to benefits such as, High resolution, high penetration depth, and its potential for functional imaging.

MARKET SCOPE

The "Global Optical Coherence Tomography (OCT) Market Analysis to 2031" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Optical Coherence Tomography (OCT) market with detailed market segmentation by device type, technology, application, end user and geography. The report provides key statistics on the market status of the leading Optical Coherence Tomography (OCT) market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

• Based on Device Type, the global Optical Coherence Tomography (OCT) market is segmented into Doppler OCT devices, Handheld OCT devices, Catheter based OCT devices, and Tabletop OCT devices.
• Based on Technology, the global Optical Coherence Tomography (OCT) market is segmented into Spatially Encoded Frequency Domain Optical Coherence Tomography (OCT), Frequency Domain Optical Coherence Tomography (OCT) (FD-OCT), Time Domain Optical Coherence Tomography (OCT) (TDOCT)).
• Based on Application, the global Optical Coherence Tomography (OCT) market is segmented into Cancer detection, Cardiovascular, Dentistry, Dermatology, Oncology, and Ophthalmology
• Based on End Users, the global Optical Coherence Tomography (OCT) market is segmented into Hospitals, Specialized Clinics and Other End Users.

MARKET DYNAMICS

Drivers:

• Rise in the prevalence of cancer cases across the globe
• Increased demand for OCT technique

Restraints

• High Cost

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Optical Coherence Tomography (OCT) market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Optical Coherence Tomography (OCT) market in these regions.

IMPACT OF COVID-19 ON OPTICAL COHERENCE TOMOGRAPHY (OCT) MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. However, the demand for Optical Coherence Tomography (OCT) has decreased due to rising in COVID instances. According to the research led by Codice Viola, charity that supports pancreatic cancer patients found that more than 500 breast or pancreatic patients appointments for chemotherapy or radiotherapy were postponed. Additionally, 64% of surgical procedures were postponed and more than half have had follow-up appointments rescheduled.

Additionally, In UK, the practice of oncological surgery has been changed. Increasing COVID-19 has impacted the diagnosis and treatment of cancer due to the diversification of the medical work force and decision to focus on treating the critically ill. Due to the current pandemic, many cancer research organizations which are dealing with radiofrequency ablation devices treatment are not taking appointments to avoid anxiety associated with same. Due to new clinical practice are prioritizing their patients and making difficult choices by offering less treatment. Similarly, In the Netherlands, the healthcare system is under stress due to the rising number of COVID-19 patients. Family healthcare services providers are treating COVID-19 patient who has disrupted normal patient care.

MARKET PLAYERS

The report covers key developments in the Optical Coherence Tomography (OCT) market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Optical Coherence Tomography (OCT) market are anticipated to lucrative growth opportunities in the future with the rising demand for Optical Coherence Tomography (OCT) in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Optical Coherence Tomography (OCT) market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Alcon
•   Carl Zeiss Meditec AG
•   Leica Microsystems
•   Michelson Diagnostics Ltd
•   NIDEK CO., LTD.
•   OPTOPOL Technology Sp. z o.o.
•   Optovue, Incorporated
•   Thorlabs, Inc.
•   TOPCON CORPORATION
•   SANTEC CORPORATION

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Optical Coherence Tomography (OCT) Report Scope