The “Optical Coherence Tomography (OCT) for Ophthalmology – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Optical Coherence Tomography (OCT) for Ophthalmology Market to Reach $754.4 Million by the Year 2026
Amid the COVID-19 crisis, the global market for Optical Coherence Tomography (OCT) for Ophthalmology estimated at US$526.2 Million in the year 2020, is projected to reach a revised size of US$754.4 Million by 2026, growing at a CAGR of 6.3% over the analysis period.
An aging population, growing prevalence of ocular diseases, rapid increase in diabetic population and increasing focus on curbing healthcare expenditures continue to drive the demand for ophthalmic diagnostic equipment. With rise in the average life span, there is an increasing incidence of ophthalmic and ocular conditions which is a natural phenomenon of aging.
In addition, lifestyle trends and rising levels of pollution in developed and developing countries have put an ever-increasing number of people at risk of developing potential eye allergies, hypersensitivity to environmental elements such as pollen, dust, and dry eye syndrome among others.
A key trend in the space is integration of various devices into single equipment. The ongoing shift to spectral domain OCT technology from time domain OCT is spurring growth in the market. Spectral domain OCT, an advancement in imaging technology enables efficient examination of ocular pathologies.
Further infusing growth into the segment is the integration of built in devices such as fundus cameras and OCT scanning laser ophthalmoscopes. Software upgrades in OCT systems are introducing advanced disease-progression analysis featuring greater range in data capture and imaging.
Conventional OCT Systems, one of the segments analyzed in the report, is projected to grow at a 5.8% CAGR to reach US$667.4 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Handheld & Integrated Oct Systems segment is readjusted to a revised 8.9% CAGR for the next 7-year period.
This segment currently accounts for a 14.6% share of the global Optical Coherence Tomography (OCT) for Ophthalmology market. Handheld OCT systems are gaining traction in lieu of their affordability and portable design, and also due to their improved capabilities in resolving issues pertaining to image quality and dearth of technological infrastructure, a major reason that hampers adoption of traditional OCT systems.
Handheld instruments facilitate screening of large number of patients outside the traditional point-of-care facilities, in relatively much shorter period of time than conventional OCT systems.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- COVID-19 Impact on Ophthalmology Services
- Ophthalmologists Gear Up to Recoup Losses after COVID-19-Induced Harrowing Phase
- Optical Coherence Tomography (OCT): An Introduction
- Outlook: Focus on Preventative Healthcare to Improve Demand
- Developing Markets Drive Momentum
- Rise in Incidence of Ocular Diseases Drive Demand for OCT Devices
- Key Ophthalmic Disease Statistics
- Competitive Scenario
- Recent Industry Activity
- World Brands
2. FOCUS ON SELECT PLAYERS (Total 26 Featured)
- Carl Zeiss Meditec AG
- Danaher Corporation
- Heidelberg Engineering GmbH
- Nidek Co., Ltd.
- Optovue, Inc.
- Topcon Corporation
3. MARKET TRENDS & DRIVERS
- Adaptive Optics & OCT Achieve High-Resolution In-Vivo Retinal Imaging
- Enhancing Retinal Imaging Quality
- Ongoing Efforts to Improve Imaging
- Handheld Devices to Extend Clinical Acceptance of Optical Coherence Tomography
- Handheld OCT Devices Set to Make Big Gains
- Advances in OCT Systems for High-Quality Imaging of Anterior Segment of Eye
- OCT Angiography: A Growing Market with High Potential
- Intraoperative OCT Gains Importance as Valuable Tool for Image-Guided Surgical Care
- Intraoperative OCT Appears Poised to Transform Surgical Ophthalmic Care Domain
- Growing Incidence of Diabetic Retinopathy Unfolds Significant Opportunities
- OCT Revolutionizes Clinical Management of Diabetic Macular Edema
- Rising Prevalence of Diabetes Fuels Growth
- Growing Role of OCT in Evaluating Optic Neuropathies Bodes Well
- Combo OCT/Fundus Systems Widen Opportunities in Ophthalmology
- At-Home OCT Emerges as New Growth Vertical
- Integration of OCT in Surgical Microscopy: The Ongoing Trend
- OCT Devices Gain Demand as Diagnostic Application of Lasers Gain Significant Attention
- OCT Evolves as an Important Tool in Glaucoma Management
- Optical Coherence Tomography to Offer Significant Insights into AMD Progression
- Deep Learning Algorithms Step In to Widen the Scope & Span of OCT
- Spectral-Domain OCT for Prognostication & Management of Retinal Pathologies
- Rise in Aging Population and Related Eye Diseases Drive Demand
4. GLOBAL MARKET PERSPECTIVE
- World 11-Year Perspective for Optical Coherence Tomography (OCT) for Ophthalmology by Geographic Region – Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2016, 2021 & 2027
- World 11-Year Perspective for Conventional OCT Systems by Geographic Region – Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2016, 2021 & 2027
- TABLE 9: World 11-Year Perspective for Handheld & Integrated OCT Systems by Geographic Region – Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2016, 2021 & 2027
III. REGIONAL MARKET ANALYSIS
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