Global Optical Coherence Tomography (OCT) For Healthcare And Life Science Market Generated Opportunities, Future Scope 2024-2032

Optical Coherence Tomography (OCT) For Healthcare And Life Science Market Size And Forecast

Optical Coherence Tomography (OCT) For Healthcare And Life Science Market size is growing at a moderate pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2022 to 2030.

Factors such as the increase in the necessity for more complex instruments in the healthcare and life science industries as well as the increase in the awareness concerning diseases of the retina are driving the market growth for Optical Coherence Tomography (OCT). The Global Optical Coherence Tomography (OCT) For Healthcare And Life Science Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Optical Coherence Tomography (OCT) For Healthcare And Life Science Market Definition

Optical coherence tomography is a high-resolution cross-sectional imaging technique that is still evolving. OCT is a technique for imaging tissue structure on a micron scale in situ and in real-time using light. An optical biopsy is performed using an OCT, which is a non-invasive imaging technique. It’s used in situations where traditional imaging techniques aren’t appropriate. OCT is based on fiber optics and can be used in conjunction with instruments such as endoscopes, catheters, surgical probes, and laparoscopes to image the body.

Several functional OCT methods are being investigated to provide quantitative information and improve diagnosis performance, including polarization-sensitive OCT, Doppler OCT, and OCT combined with fluorescence. The goal is to enable the production of compact, low-cost, and portable OCT systems for use in basic applications such as dermatology and dentistry.

Global Optical Coherence Tomography (OCT) For Healthcare And Life Science Market Overview

OCT is becoming more popular as the demand for non-invasive, label-free in vivo imaging methods for diagnosing and monitoring various pathologies grows. This demand is particularly high in developing countries like China and India. The latest Optical Coherence Tomography (OCT) For Healthcare And Life Science Market trends include players putting more emphasis on developing low-cost, portable, and compact OCT systems with basic applications in dentistry, dermatology, and other fields.

With miniaturization and improvements in device design currently being the main focus areas, the growing popularity of micro-optical coherence tomography could be a huge opportunity in the coming years. Market participants are focusing their efforts on developing “OCT in a chip,” which is expected to hit the market in the next few years, depending on regulatory compliance and approval procedures. Micro-optical coherence tomography is currently one of the most popular market trends in the global industry. However, in the market, a lack of favorable medical reimbursement schemes, as well as limited clinical data, are major deterrents.

Global Optical Coherence Tomography (OCT) For Healthcare And Life Science Market: Segmentation Analysis

The Global Optical Coherence Tomography (OCT) For Healthcare And Life Science Market is Segmented on the basis of Technology, Type, Application, And Geography.

Optical Coherence Tomography (OCT) For Healthcare And Life Science Market, By Technology

• Time Domain OCT (TDOCT)
• Frequency Domain OCT (FD-OCT)
• Spatial Encoded Frequency Domain OCT

Based on Technology, the market is bifurcated into Time Domain OCT (TDOCT), Frequency Domain OCT (FD-OCT), and Spatial Encoded Frequency Domain OCT. The most revenue was generated by the frequency domain optical coherence tomography (FD-OCT) segment. Frequency-domain OCT systems, also known as spectral-domain OCT, are primarily based on the measurement of the interference spectrum (SD-OCT). Interferometric signals are used as an imaging aid in the spectral domain OCT, which helps to increase imaging speed by up to 50 times. As a result, there will be more images per unit area, increasing market penetration in the forecast years.

Optical Coherence Tomography (OCT) For Healthcare And Life Science Market, By Type

• Catheter-Based OCT Devices
• Doppler OCT Devices
• Handheld OCT Devices
• Tabletop OCT Devices

Based on Type, the market is bifurcated into Catheter-Based OCT Devices, Doppler OCT Devices, Handheld OCT Devices, and Tabletop OCT Devices. Handheld OCT devices account for the majority of the market. Microelectromechanical systems (MEMS) and 3D imaging are combined in handheld OCTs to aid in the early detection of a variety of eye disorders. Diabetic retinopathy, macular degeneration, and glaucoma can all be detected using this method.

Optical Coherence Tomography (OCT) For Healthcare And Life Science Market, By Application

• Ophthalmology
• Cardiovascular
• Oncology
• Dermatology
• Others

Based on Application, the market is bifurcated into Ophthalmology, Cardiovascular, Oncology, Dermatology, and Others. The most popular specialty is ophthalmology. Because of the rising incidences of choroidal and retinal disorders, ophthalmology is expected to grow rapidly in the future, leading to an increase in the use of optical coherence tomography devices by ophthalmologists for imaging and diagnosis. Furthermore, as the prevalence of cataracts and glaucoma rises, people will seek out early disease detection and better treatment options with OCT devices, boosting the market.

Optical Coherence Tomography (OCT) For Healthcare And Life Science Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Regional Analysis, the Global Optical Coherence Tomography (OCT) For Healthcare And Life Science Market is classified into North America, Europe, Asia Pacific, and Rest of the world. NA dominates the market due to the rise in eye diseases. Moreover, during the forecast period, the emergence of major players will further boost the growth of the market in the region. The Market in Asia-Pacific is expected to grow significantly due to rising healthcare costs. Furthermore, the growing awareness of eye disorders is expected to drive the growth of the market in the region over the forecast period.

Key Players

The “Global Optical Coherence Tomography (OCT) for Healthcare & Life Science Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as Abbott, Canon, OptoMedical Technologies, Santec, NinePoint Medical, Carl Zeiss Meditec, Alcon, Thorlabs, Agfa-Gevaert Group, etc.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.

Key Developments

• November 2020 – A team of researchers from the Severance Hospital in the United States has developed a machine learning-based fractional flow reserve prediction technology that heavily relies on optical coherence tomography images and patient biometric data. This technology aids in the treatment of patients undergoing coronary intervention surgery and has the potential to become a major player in the intravascular optical coherence tomography OCT imaging systems market in the coming years.
• December 2020 – RetinAI Medical has announced a partnership with Novartis Pharma, which will see RetinAI’s artificial intelligence tools used to support a variety of ophthalmology and digital health projects. The agreement supports a multi-center clinical trial examining the effects of using Artificial Intelligence (AI) to analyze optical coherence tomography images.

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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