global Optical Coherence Tomography (OCT) Market size is expected to value at USD 1.8 billion by 2024. The market is subject to witness a substantial growth due to the prevalence of ocular diseases and recent technological advancement in diagnostic techniques. In addition, increasing demand for optical coherence tomography (OCT) devices to carry out diagnosis of cardiology, dermatology, oncology and other type of disorders favor the market growth in upcoming years. Globally, the optical coherence tomography market is predicted to grow at CAGR of 11.2% in forecast period, providing numerous opportunities for market players to invest in research and development of the market.
Additionally,
optical coherence tomography (OCT) devices are essential to perform advanced
imaging and diagnostic for ophthalmology, thereby propelling market demand, in
the recent years. Alterations in optical coherence tomography (OCT) devices to
enhance their performance and design modification has led to vast set of
applications in the areas of dermatology, cardiology and others. Such wide
range of applications of the optical coherence tomography (OCT) devices are
expected to fuel market growth over the forecast period.
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Adoption
of optical coherence tomography (OCT) imaging and diagnostic devices by
cardiologist in order to locate and treat coronary artery disease is expected
to play critical role in the robust growth of optical coherence tomography
(OCT) industry in the near future. The recent technological advancement in the
healthcare sector coupled with development of novel products& techniques to
perform tissue imaging and endoscopy are anticipated to foster market growth in
the upcoming years.
Introduction
of hybrid technologies by industry participant and increase in the research
& development activities in North America and European region coupled are
anticipated to stimulate market growth in the years to come. Advent of optical
coherence tomography angiography (OCTA) devices is expected to improve overall
resolution and isolation properties of diagnostic images. Increasing adoption
of optical coherence tomography angiography (OCTA) devices offer 3D imaging,
thus helping healthcare professionals to isolate the region of interest during
critical surgical procedures. These factors are expected to boost market
expansion in the forecast period.
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Asia-Pacific
region is predicted to hold major market share in the optical coherence
tomography (OCT) market with massive growth in forecast period. Countries such
as India, China and Japan are leading the Asia-Pacific market with rising
healthcare expenditure, strong economic growth in the region and significant
investment by leading industry players considering potential growth
opportunities in the region.
The
key players in the OCT Industry are Optovue, Inc., OPTOPOL Technology S.A.,
Carl Zeiss Meditec AG, Agfa Healthcare Pvt., Ltd., Imalux Co., Michelson
Diagnostics Ltd., Novacam Technologies Inc., Topcon Medical Systems Inc., Leica
Microsystems GmbH, Agiltron Inc., and Thorlabs Inc.
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