The most recent study conducted by Report Ocean, titled “Global Optical Coherence Tomography Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Optical Coherence Tomography. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Optical Coherence Tomography Market is valued approximately USD 1.30 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 8.4 % over the forecast period 2021-2027. Optical Coherence Tomography (OCT) is a high-resolution imaging technique with great versatility of applications. In cardiology, OCT has remained hitherto as a research tool for characterization of vulnerable plaques and evaluation of neointimal healing after stenting.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Also, used in dermatology, ophthalmology etc. Increase in cancer patients , and cardiovascular diseases, eye disorders, technology advancement and strategic development between hospitals and urgent care providers are the factors led the adoption of Optical Coherence Tomography across the forecast period.
Technology advancement such as modern spectral-domain (SD) OCT devices are characterized by enhanced resolution, reduced acquisition time and less operator dependence than time-domain (TD) OCT. For Instance: as per the WHO (World Health Organization) Globally, at least 2.2 billion people have a near or distance vision impairment. In at least 1 billion – or almost half – of these cases, vision impairment could have been prevented or has yet to be addressed.
With regards to near vision, rates of unaddressed near vision impairment are estimated to be greater than 80% in western, eastern and central sub-Saharan Africa, while comparative rates in high-income regions of North America, Australasia, Western Europe, and of Asia-Pacific are reported to be lower than 10%. However, Low level of awareness impedes the growth of the market over the forecast period of 2020-2027. Also, with the increasing prevalence of injuries, diseases, increase investment in healthcare sector has led the adoption & demand for Optical Coherence Tomography is likely to increase the market growth during the forecast period.
The regional analysis of global Optical Coherence Tomography market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the significant region across the world in terms of market share owing to the growing prevalence of diabetic retinopathy and other eye diseases. Whereas, Asia-Pacific will exhibit highest growth rate over the forecast period 2020-2027. Constraints such as Government initiatives, rising disposable income, and improving healthcare infrastructure would make the profitable growth prospects for the Optical Coherence Tomography market across Asia-Pacific region.
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Major market player included in this report are:
Topcon Medical Systems Inc.
Heidelberg Engineering GmbH
Carl Zeiss Meditec AG
Michelson Diagnostics Ltd
Agfa Healthcare
Novacam Technologies Inc.
Thorlabs Inc.
Boston Scientific Corporation
Abbott Laboratories
Optovue, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Technology:
Frequency Domain OCT (FD-OCT)
Time Domain OCT (TDOCT)
Spatial Encoded Frequency Domain OCT
By Ownership:
Ophthalmology
Oncology
Cardiovascular
Dermatology
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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