Optical Coherence Tomography (OCT) Devices Market Insights, Competitive Landscape and Market Forecast–2026

Optical Coherence Tomography (OCT) Devices Market Insights, Competitive Landscape and Market Forecast–2026

Optical Coherence Tomography (OCT) Devices Market By Product Type (Time-Dependent OCT And Fourier-Dependent OCT [Swept-Source OCT And Spectral-Domain OCT], And Others), By Medical Specialty (Opthalmology, Cardiology, And Others), By Application (Clinical Use And Research Use) By End User (Hospitals, Specialty Clinics, Research Institutes, And Others), By Geography is expected to grow at a steady CAGR forecast till 2026 owing to rising prevalence of ocular diseases such as cataracts and increasing prevalence of cardiovascular diseases such as acute myocardial infraction

Global optical coherence tomography (OCT) devices market was valued at USD 1.13 billion in 2020, growing at a CAGR of 8.55% during the forecast period from 2021 to 2026 to reach USD 1.85 billion by 2026. The OCT devices market is moving towards a positive market growth owing to the factors such as rising prevalence of ocular diseases such as cataracts, growing number of cardiovascular diseases such as myocardial infarction, increasing geriatric population across the globe, and increasing product development activities with respect to OCT devices among others.

OCT Devices Market Dynamics:

One of the main drivers of the OCT devices market is the rising prevalence of vision impairment owing to different disease etiologies. As per the data provided by The International Agency for the Prevention of Blindness (IAPB), in 2020, there were about 1.1 billion people across the globe who were suffering from blindness. It was estimated in their research that approximately 2 to 3 billion people require access to healthcare facilities pertaining to eye care in order to optimize their vision and ability to function in society.

Uncorrected refractive errors, cataracts, glaucoma, age-related macular degeneration, and diabetic retinopathy are considered to be the primary causes associated with vision loss. As per the data cited by the World Health Organization, in 2020, cataracts were the prime cause of vision loss in patients above the age of 50 with 15•2 million cases. The increase in the patient population suffering from cataracts is expected to boost the demand for OCT devices as well. This can be ascribed to the fact that OCT devices are heavily employed during cataract surgeries for preoperative planning, intraoperative image-based treatments, and postoperative care. Therefore, the rising prevalence of cataracts the growing need to reduce the disease burden of vision impairment is predicted to aid in the growth of the OCT devices market in the forecast period (2021-2026).

Another key factor contributing in the increasing demand for OCT devices is the rising prevalence of cardiovascular diseases. For instance, as per the data provided by the World Health Organization (2021), cardiovascular diseases (CVDs) account for the most number of deaths across the globe, accounting for an estimated 17.9 million lives each year. Some of CVDs include myocardial infarction, congestive heart failure, acute coronary syndrome, and other conditions. Furthermore, the same data by the WHO presented that over four out of five CVD deaths list strokes and heart attacks as the main cause, and one-third of these deaths are said to occur prematurely in people below 70 years of age.

In order improve the diagnosis of cardiovascular diseases and reduce the mortality rate, OCT technology is now being used in cardiovascular disease diagnosis as well. Optical coherence OCT being an intra-coronary diagnostic technique offers a detailed imaging of blood vessels in the current cardiac catheterization laboratory. The higher resolution of OCT provides superior delineation of each structure compared to other techniques and it can reliably visualize the microstructure of normal and diseased arteries, thereby contributing to the increased demand for OCT devices during the forecast period from 2021-2026.

However, technology-related limitations as well as high cost of devices compared to other counterparts may restrain the OCT devices market growth.

OCT Devices Market Segment Analysis:

Optical Coherence Tomography (OCT) Devices Market by Product Type (Time-Dependent OCT and Fourier-Dependent OCT [Swept-Source OCT and Spectral-Domain OCT], and Others), by Medical Specialty (Ophthalmology, Cardiology, and Others), by Application (Clinical Use and Research Use) by End User (Hospitals, Specialty Clinics, Research Institutes, and Others), and by Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the product type segment of OCT devices market, the swept source optical coherence tomography devices (SS-OCT) are estimated to hold a significant share in the OCT devices market in the forecast period (2021-2026). This can be attributed to the specific features associated with these devices. SS-OCT has the advantage that it works without a spectrometer or line camera. SS-OCT can operate at long wavelengths, achieve faster image speeds and capture a larger image area than SD-OCT. The devices based on this technology work on long wavelengths at 1050 nm which result in less ocular clouding attenuation and an improved depth of field. Commercial SS-OCT devices operate at more than 100,000 scans per second and are finding applications in other clinical specialties such as cardiology, dermatology, and gastroenterology. Moreover, technological advancements in the miniaturization of photonic integrated circuit technology have also contributed in the lowering of costs and compactness of devices as compared to SD-OCT systems. The growing popularity of SS-OCT systems across various medical specialties is further expected to propel the OCT devices market growth in the forecast period.

North America is expected to dominate the overall OCT Devices Market:

Among all the regions, North America is expected to account for the largest share in the OCT Devices market. Owing to significant growth factors such as rising prevalence of geriatric population, increasing prevalence of risk factors associated with cardiovascular as well as ocular diseases such as obesity, hypertension, and diabetes, rising government initiatives, and increased product launches are expected to aid in the growth of the North America OCT Devices Market. Furthermore, high disposable income, sophisticated healthcare infrastructure, new product approvals, and increased awareness also propelled the market growth in this region.

As per the data provided by the Centers for Disease Control and Prevention, in 2018, approximately 116 million people in the United States suffered from hypertension. Hypertension is considered to be one of the key risk factors for the development of both ocular diseases such as cataracts as well as cardiovascular diseases such as heart stroke among others. Therefore, the presence of large patient population suffering from hypertension correlates to the presence of a high patient population suffering from the progression of these diseases which would indicate the growing need for OCT devices that are employed in diseases diagnoses as well as treatment.

Besides the United States, product development activities in other North American countries such as Canada also presents a positive growth environment for the OCT devices market in the regions. For instance, in March 2019, Conavi Medical Inc received a Health Canada Medical Device License for their Novasight Hybrid System. This is the only clinical system that allows for the simultaneous imaging of coronary arteries with both intravascular ultrasound (IVUS) and optical coherence tomography (OCT). The product launches in the local markets result in significant reduction of costs thereby making them affordable for end users in turn resulting in their high uptake. Therefore, the interplay of various factors such as the presence of large patient population, encouraging reimbursement policies as well as new product launches in the region are going to boost the North America OCT devices market during the forecast period.

OCT Devices Market Key Players:

Some of the key market players operating in the OCT devices market includes Abbott, Terumo Corporation, ZEISS Group, Leica Microsystems, CANON MEDICAL SYSTEMS EUROPE B.V, Lumedica, Horiba Ltd, Optos (Nikon Co. Ltd), Huvitz Corp, Costruzione Strumenti Oftalmici, HAAG-STREIT GROUP, OPTOPOL Technology Sp. z o.o., Acqiris, Novacam Technologies, Inc., Thorlabs, Inc., Topcon Corporation, SANTEC CORPORATION, Optovue, Incorporated, NIDEK CO., LTD, TOMEY CORPORATION and others.

Recent Developmental Activities in OCT Devices Market:

In October 2021, NIDEK CO LTD. launched the Retina Scan Duo 2, a combined OCT and fundus camera system. The system comes equipped with new features designed to enhance screening and clinical efficiency, in addition to user-friendly features that were incorporated from the previous model.

In August 2021, Abbott received the product approval from the US Food and Drug Administration for their optical coherence tomography (OCT) imaging platform powered by the company’s new Ultreon imaging software.

In April 2021, Perimeter Medical Imaging received the Breakthrough Device Designation from the US FDA for their AI’s Optical Coherence Tomography (OCT) Imaging System coupled with ImgAssist AI.

Key Takeaways from the OCT Devices Market Report Study

Market size analysis for current OCT devices market size (2020), and market forecast for 5 years (2021-2026)

The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the OCT devices market.

Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years

Key companies dominating the global OCT devices market.

Various opportunities available for the other competitor in the OCT devices market space.

What are the top performing segments in 2020? How these segments will perform in 2026.

Which is the top-performing regions and countries in the current OCT devices market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for OCT devices market growth in the coming future?

Target Audience who can be benefited from this OCT Devices Market Report Study

OCT Devices products providers

Research organizations and consulting companies

OCT Devices-related organization, association, forum, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders dealing in OCT devices

Various End-users who want to know more about the OCT devices market and latest technological developments in the OCT devices market.

Frequently Asked Questions for OCT Devices Market:

1.


1. OCT Devices Market Report Introduction
2. OCT Devices Market Executive Summary
2.1. Scope of the Study
2.2. Market at Glance
2.3. Competitive Assessment
2.4. Financial Benchmarking
3. Regulatory and Patent Analysis
3.1. The United States
3.2. Europe
3.2.1. Germany
3.2.2. France
3.2.3. Italy
3.2.4. Spain
3.2.5. U.K.
3.3. Japan
4. OCT Devices Market Key Factors Analysis
4.1. OCT Devices Market Drivers
4.1.1. Increasing Prevalence of Ocular Diseases
4.1.2. Rising Geriatric Population
4.1.3. Rising Prevalence of Cardiovascular Disorders
4.1.4. Technological Advancements in Product Development
4.2. OCT Devices Market Restraints and Challenges
4.2.1. Technology-Related Limitation
4.2.2. High Cost of Devices
4.3. OCT Devices Market Opportunities
4.3.1. Improving on the Product Design
4.3.2. Targeting Emerging Markets for Product Launches
5. OCT Devices Market Porter’s Five Forces Analysis
5.1. Bargaining Power of Suppliers
5.2. Bargaining Power of Consumers
5.3. Threat of New Entrants
5.4. Threat of Substitutes
5.5. Competitive Rivalry
6. COVID-19 Impact Analysis on OCT Devices Market
7. OCT Devices Market Layout
7.1. By Product Type
7.1.1. Time-Dependent OCT Devices
7.1.2. Fourier-Dependent OCT Devices
7.1.1.1. Swept-Source OCT Devices
7.1.1.2. Spectral Domain OCT Devices
7.1.3. Others
7.2. By Medical Specialty
7.2.1. Ophthalmology
7.2.2. Cardiology
7.2.3. Others
7.3. By Application
7.3.1. Clinical Use
7.3.2. Research Use
7.4. By End User
7.4.1. Hospitals
7.4.2. Specialty Clinics
7.4.3. Research Institutes
7.4.4. Others
7.5. By Geography
7.5.1. North America
7.5.1.1. North America OCT Devices Market, by Product Type
7.5.1.2. North America OCT Devices Market, by Medical Specialty
7.5.1.3. North America OCT Devices Market, by Application
7.5.1.4. North America OCT Devices Market, by End User
7.5.1.5. North America OCT Devices Market, by Country
7.5.1.3.1. United States
7.5.1.3.2. Canada
7.5.1.3.3. Mexico
7.5.2. Europe
7.5.2.1. Europe OCT Devices Market, by Product Type
7.5.2.2. Europe OCT Devices Market, by Medical Specialty
7.5.2.3. Europe OCT Devices Market, by Application
7.5.2.4. Europe OCT Devices Market, by End User
7.5.2.5. Europe OCT Devices Market, by Country
7.5.2.3.1. France
7.5.2.3.2. Germany
7.5.2.3.3. United Kingdom
7.5.2.3.4. Italy
7.5.2.3.5. Spain
7.5.2.3.6. Russia
7.5.2.3.7. Rest of Europe
7.5.3. Asia-Pacific
7.5.3.1. Asia-Pacific OCT Devices Market, by Product Type
7.5.3.2. Asia-Pacific OCT Devices Market, by Medical Specialty
7.5.3.3. Asia-Pacific OCT Devices Market, by Application
7.5.3.4. Asia-Pacific OCT Devices Market, by End User
7.5.3.5. Asia-Pacific OCT Devices Market, by Country
7.5.3.3.1. China
7.5.3.3.2. Japan
7.5.3.3.3. India
7.5.3.3.4. Australia
7.5.3.3.5. South Korea
7.5.3.3.6. Rest of Asia Pacific
7.5.4. Rest of the World (RoW)
7.5.4.1. RoW OCT Devices Market, by Product Type
7.5.4.2. RoW OCT Devices Market, by Medical Specialty
7.5.4.3. RoW OCT Devices Market, by Application
7.5.4.4. RoW OCT Devices Market, by End User
7.5.4.5. RoW OCT Devices Market, by Region
7.5.4.3.1. Middle East
7.5.4.3.2. Africa
7.5.4.3.3. South America
8. OCT Devices Market Global Company Share Analysis – Key 3-5 Companies
9. OCT Devices Market Company and Product Profiles
9.1. Abbott
9.1.1. Company Overview
9.1.2. Company Snapshot
9.1.3. Financial Overview
9.1.4. Product Listing
9.1.5. Entropy
9.2. Terumo Corporation
9.2.1. Company Overview
9.2.2. Company Snapshot
9.2.3. Financial Overview
9.2.4. Product Listing
9.2.5. Entropy
9.3. ZEISS Group
9.3.1. Company Overview
9.3.2. Company Snapshot
9.3.3. Financial Overview
9.3.4. Product Listing
9.3.5. Entropy
9.4. Leica Microsystems
9.4.1. Company Overview
9.4.2. Company Snapshot
9.4.3. Financial Overview
9.4.4. Product Listing
9.4.5. Entropy
9.5. CANON MEDICAL SYSTEMS EUROPE B.V
9.5.1. Company Overview
9.5.2. Company Snapshot
9.5.3. Financial Overview
9.5.4. Product Listing
9.5.5. Entropy
9.6. Lumedica
9.6.1. Company Overview
9.6.2. Company Snapshot
9.6.3. Financial Overview
9.6.4. Product Listing
9.6.5. Entropy
9.7. Horiba Ltd
9.7.1. Company Overview
9.7.2. Company Snapshot
9.7.3. Financial Overview
9.7.4. Product Listing
9.7.5. Entropy
9.8. Optos (Nikon Co. Ltd)
9.8.1. Company Overview
9.8.2. Company Snapshot
9.8.3. Financial Overview
9.8.4. Product Listing
9.8.5. Entropy
9.9. Huvitz Corp.
9.9.1. Company Overview
9.9.2. Company Snapshot
9.9.3. Financial Overview
9.9.4. Product Listing
9.9.5. Entropy
9.10. Costruzione Strumenti Oftalmici
9.10.1. Company Overview
9.10.2. Company Snapshot
9.10.3. Financial Overview
9.10.4. Product Listing
9.10.5. Entropy
9.11. HAAG-STREIT GROUP
9.11.1. Company Overview
9.11.2. Company Snapshot
9.11.3. Financial Overview
9.11.4. Product Listing
9.11.5. Entropy
9.12. OPTOPOL Technology Sp. z o.o
9.12.1. Company Overview
9.12.2. Company Snapshot
9.12.3. Financial Overview
9.12.4. Product Listing
9.12.5. Entropy
9.13. Acqiris
9.13.1. Company Overview
9.13.2. Company Snapshot
9.13.3. Financial Overview
9.13.4. Product Listing
9.13.5. Entropy
9.14. Novacam Technologies Inc
9.14.1. Company Overview
9.14.2. Company Snapshot
9.14.3. Financial Overview
9.14.4. Product Listing
9.14.5. Entropy
9.15. Thorlabs Inc
9.15.1. Company Overview
9.15.2. Company Snapshot
9.15.3. Financial Overview
9.15.4. Product Listing
9.16. Topcon Corporation
9.16.1. Company Overview
9.16.2. Company Snapshot
9.16.3. Financial Overview
9.16.4. Product Listing
9.16.5. Entropy
9.17. SANTEC CORPORATION
9.17.1. Company Overview
9.17.2. Company Snapshot
9.17.3. Financial Overview
9.17.4. Product Listing
9.17.5. Entropy
9.18. NIDEK CO., LTD
9.18.1. Company Overview
9.18.2. Company Snapshot
9.18.3. Financial Overview
9.18.4. Product Listing
9.18.5. Entropy
9.19. Optovue, Incorporated
9.19.1. Company Overview
9.19.2. Company Snapshot
9.19.3. Financial Overview
9.19.4. Product Listing
9.19.5. Entropy
9.20. TOMEY CORPORATION
9.20.1. Company Overview
9.20.2. Company Snapshot
9.20.3. Financial Overview
9.20.4. Product Listing
9.20.5. Entropy
10. Project Approach
10.1. Secondary Sources
10.2. Primary Sources
10.3. Data Triangulation
10.4. Key Expert Opinions
11. KOL Views
12. DelveInsight Capabilities
13. Disclaimer
14. About DelveInsight
Table 1: Competitive Analysis
Table 2: COVID-19 Impact Analysis
Table 3: OCT Devices Market in Global (2018-2026)
Table 4: OCT Devices Market in Global by Product Type (2018-2026)
Table 5: OCT Devices Market in Global by Medical Specialty (2018-2026)
Table 6: OCT Devices Market in Global by Application (2018-2026)
Table 7: OCT Devices Market in Global by End User (2018-2026)
Table 8: OCT Devices Market in Global by Geography (2018-2026)
Table 9: OCT Devices Market in North America (2018-2026)
Table 10: OCT Devices Market in North America by Product Type (2018-2026)
Table 11: OCT Devices Market in North America by Medical Specialty (2018-2026)
Table 12: OCT Devices Market in North America by Application (2018-2026)
Table 13: OCT Devices Market in North America by End User (2018-2026)
Table 14: OCT Devices Market in North America by Country (2018-2026)
Table 15: OCT Devices Market in the US (2018-2026)
Table 16: OCT Devices Market in Canada (2018-2026)
Table 17: OCT Devices Market in Mexico (2018-2026)
Table 18: OCT Devices Market in Europe (2018-2026)
Table 19: OCT Devices Market in Europe by Product Type (2018-2026)
Table 20: OCT Devices Market in Europe by Medical Specialty (2018-2026)
Table 21: OCT Devices Market in Europe by Application (2018-2026)
Table 22: OCT Devices Market in Europe by End User (2018-2026)
Table 23: OCT Devices Market in Europe by Country (2018-2026)
Table 24: OCT Devices Market in France (2018-2026)
Table 25: OCT Devices Market in Germany (2018-2026)
Table 26: OCT Devices Market in the United Kingdom (2018-2026)
Table 27: OCT Devices Market in Italy (2018-2026)
Table 28: OCT Devices Market in Spain (2018-2026)
Table 29: OCT Devices Market in Russia (2018-2026)
Table 30: OCT Devices Market in Rest of Europe (2018-2026)
Table 31: OCT Devices Market in APAC (2018-2026)
Table 32: OCT Devices Market in APAC by Product Type (2018-2026)
Table 33: OCT Devices Market in APAC by Medical Specialty (2018-2026)
Table 34: OCT Devices Market in APAC by Application (2018-2026)
Table 35: OCT Devices Market in APAC by End User (2018-2026)
Table 36: OCT Devices Market in APAC by Country (2018-2026)
Table 37: OCT Devices Market in China (2018-2026)
Table 38: OCT Devices Market in Japan (2018-2026)
Table 39: OCT Devices Market in India (2018-2026)
Table 40: OCT Devices Market in Australia (2018-2026)
Table 41: OCT Devices Market in South Korea (2018-2026)
Table 42: OCT Devices Market in Rest of APAC (2018-2026)
Table 43: OCT Devices Market in Rest of World (2018-2026)
Table 44: OCT Devices Market in RoW by Product Type (2018-2026)
Table 45: OCT Devices Market in RoW by Medical Specialty (2018-2026)
Table 46: OCT Devices Market in RoW by Application (2018-2026)
Table 47: OCT Devices Market in RoW by End User (2018-2026)
Table 48: OCT Devices Market in RoW by Region (2018-2026)
Table 49: OCT Devices Market in Middle East (2018-2026)
Table 50: OCT Devices Market in Africa (2018-2026)
Table 51: OCT Devices Market in South America (2018-2026)
Figure 1: Competitive Analysis
Figure 2: COVID-19 Impact Analysis
Figure 3: OCT Devices Market in Global (2018-2026)
Figure 4: OCT Devices Market in Global by Product Type (2018-2026)
Figure 5: OCT Devices Market in Global by Medical Specialty (2018-2026)
Figure 6: OCT Devices Market in Global by Application (2018-2026)
Figure 7: OCT Devices Market in Global by End User (2018-2026)
Figure 8: OCT Devices Market in Global by Geography (2018-2026)
Figure 9: OCT Devices Market in North America (2018-2026)
Figure 10: OCT Devices Market in North America by Product Type (2018-2026)
Figure 11: OCT Devices Market in North America by Medical Specialty (2018-2026)
Figure 12: OCT Devices Market in North America by Application (2018-2026)
Figure 13: OCT Devices Market in North America by End User (2018-2026)
Figure 14: OCT Devices Market in North America by Country (2018-2026)
Figure 15: OCT Devices Market in the US (2018-2026)
Figure 16: OCT Devices Market in Canada (2018-2026)
Figure 17: OCT Devices Market in Mexico (2018-2026)
Figure 18: OCT Devices Market in Europe (2018-2026)
Figure 19: OCT Devices Market in Europe by Product Type (2018-2026)
Figure 20: OCT Devices Market in Europe by Medical Specialty (2018-2026)
Figure 21: OCT Devices Market in Europe by Application (2018-2026)
Figure 22: OCT Devices Market in Europe by End User (2018-2026)
Figure 23: OCT Devices Market in Europe by Country (2018-2026)
Figure 24: OCT Devices Market in France (2018-2026)
Figure 25: OCT Devices Market in Germany (2018-2026)
Figure 26: OCT Devices Market in the United Kingdom (2018-2026)
Figure 27: OCT Devices Market in Italy (2018-2026)
Figure 28: OCT Devices Market in Spain (2018-2026)
Figure 29: OCT Devices Market in Russia (2018-2026)
Figure 30: OCT Devices Market in Rest of Europe (2018-2026)
Figure 31: OCT Devices Market in APAC (2018-2026)
Figure 32: OCT Devices Market in APAC by Product Type (2018-2026)
Figure 33: OCT Devices Market in APAC by Medical Specialty (2018-2026)
Figure 34: OCT Devices Market in APAC by Application (2018-2026)
Figure 35: OCT Devices Market in APAC by End User (2018-2026)
Figure 36: OCT Devices Market in APAC by Country (2018-2026)
Figure 37: OCT Devices Market in China (2018-2026)
Figure 38: OCT Devices Market in Japan (2018-2026)
Figure 39: OCT Devices Market in India (2018-2026)
Figure 40: OCT Devices Market in Australia (2018-2026)
Figure 41: OCT Devices Market in South Korea (2018-2026)
Figure 42: OCT Devices Market in Rest of APAC (2018-2026)
Figure 43: OCT Devices Market in Rest of World (2018-2026)
Figure 44: OCT Devices Market in RoW by Product Type (2018-2026)
Figure 45: OCT Devices Market in RoW by Medical Specialty (2018-2026)
Figure 46: OCT Devices Market in RoW by Application (2018-2026)
Figure 47: OCT Devices Market in RoW by End User (2018-2026)
Figure 48: OCT Devices Market in RoW by Region (2018-2026)
Figure 49: OCT Devices Market in Middle East (2018-2026)
Figure 50: OCT Devices Market in Africa (2018-2026)
Figure 51: OCT Devices Market in South America (2018-2026)
Figure 52: Market Drivers
Figure 53: Market Barriers
Figure 54: Marker Opportunities
Figure 55: PORTER'S Five Force Analysis

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