Market Overview

The optical coherence tomography market was valued at USD 2.3 billion in 2022 and is expected to increase at a compound yearly growth rate (CAGR) of 15.1% between 2023 and 2030, from USD 2.64 billion in 2023 to USD 6.23 billion by 2030.

Optical coherence tomography is a micrometre-resolution imaging technology that uses low coherence light. This approach is utilized for tissue imaging and endoscopy in ophthalmology, dermatology, cardiology, and other fields.

Furthermore, the ageing population, together with technical benefits such as the capacity to visualize the in-depth structure of the eye, mucosal membranes, surface tissue, and vascular system, are driving the entire market. Furthermore, optical coherence tomography is useful in diagnosing and monitoring a variety of major health issues such as non-melanoma skin cancer, cardiovascular diseases, age-rated macular disease, prostate cancer, and other conditions where a non-invasive, label-free, and in vivo imaging technique is required. This can be done with OCT, and the market will be driven to some part by the continuing development of revolutionary technology, strong demand for new biomedical applications, and strong demand from nations such as India, China, and Japan.

Market Segmentation

The optical coherence tomography market outlook can be divided into swept-source OCT, spectral-domain OCT (SD-OCT), and others, depending on technology. Spectral-domain optical coherence tomography (SD-OCT) is expected to have the largest market share of 60.1 per cent over the forecast period, while the swept-source OCT segment is expected to develop at the quickest rate of 9.1 per cent.

Oncology, cardiology, dermatology, ophthalmology, and other fields benefit from OCT. The ophthalmology segment is expected to take the lead with a market share of 53.6 per cent, while the dermatology segment is expected to grow at the quickest rate of 9.3 per cent from 2017 to 2023.

Regional Classification

By 2023, the Americas might be worth USD 558.34 million, making it the most profitable market for optical coherence tomography, because of the increased prevalence of diabetic retinopathy and a large number of rich vendors in the region. The regional market benefits from increased usage of OCT macular degeneration, glaucoma, and retinal disorders such as vitreous traction and central serous retinopathy in the region. Due to the rise in numerous eye and heart-related ailments in the United States in recent years, retinal optical coherence tomography and optical coherence tomography cardiology have emerged as extremely profitable areas in the American market. Additionally, attractive medical insurance systems that assist patients in covering the cost of optical coherence tomography treatment have boosted the optical coherence tomography market report growth.

Because of the growing obesity population, increased stress, and the prevalence of unhealthy lifestyles among people, Asia Pacific is the fastest emerging market, with a CAGR of 9.4% expected between 2017 and 2023. As a result of these circumstances, the region is seeing an increase in diabetes and other chronic illnesses, which is driving up the demand for optical coherence tomography equipment.

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