Global Optical Coherence Tomography Market Report and Forecast 2024-2032

Global Optical Coherence Tomography Market Outlook

The global optical coherence tomography market size attained a value of USD 1,632.23 million in 2023. The market is anticipated to grow at a CAGR of 10.1% during the forecast period of 2024-2032 to attain a value of USD 3,880.32 million by 2032.

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Rising Use of Optical Coherence Tomography in Dermatological Applications Boosting the Market Growth

As optical coherence tomography can provide high-resolution images without gels or pre-treatments, it is increasingly used as a substitute for skin biopsy, which is aiding the market growth. It can effectively diagnose various skin-related complications such as skin cancer, psoriasis, and systemic sclerosis, among others, by differentiating various tissues, due to which it is extensively deployed in the dermatology industry. In addition, optical coherence tomography is used in various cosmetic applications to measure and monitor the effects of ultraviolet (UV) radiation, collagen density, and wrinkle stretching, among others in the dermatology industry. Hence, the rising skin-consciousness is expected to augment the market growth in the coming years. Furthermore, the increasing research and development (R&D) activities to improve imaging capabilities by enhancing the range and details of optical coherence tomography are further expected to invigorate the market growth. The surging demand for optical coherence tomography to diagnose neurogenerative disorders such as Alzheimer’s disease and Parkinson’s disease is also expected to significantly contribute  to the industry growth.

Optical Coherence Tomography: Market Segmentation

Optical coherence tomography is a non-invasive imaging technique that captures high-resolution images to diagnose and treat various complications. It is used to diagnose and treat various cardiovascular, oncological, and dermatological-related complications. It is most extensively used in the treatment of various eye conditions.

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The major technologies of optical coherence tomography are:

• Time Domain OCT
• Frequency Domain OCT
• Spatial Encoded Frequency Domain OCT
• Fourier Domain OCT
• Others

The market can be broadly categorised on the basis of its types into:

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

Based on applications, the market is divided into:

• Ophthalmology
• Cardiovascular
• Oncology
• Dermatology
• Others

The EMR report looks into the regional markets of optical coherence tomography like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Development of Innovative Optical Coherence Tomography Systems to Bolster the Optical Coherence Tomography Industry

The extensive use of optical coherence tomography as a diagnostic tool in various ophthalmic applications, such as age-related macular degeneration and management of diabetic retinopathy, among others, is propelling the market growth. The development of innovative optical coherence tomography that can measure slight changes in the retinal capillaries while quantifying retinal vascular changes to ensure early detection and reliable treatments of patients, is projected to augment the industry growth. Such development can also eliminate the requirement of invasive procedures, hence increasing the accessibility of diagnosis and treatment and further projected to catalyse the market growth.

The advent of smart optical coherence tomography that uses artificial intelligence (AI) and machine learning (ML) algorithms is enhancing the decision-making process of healthcare professionals during angioplasty, which is projected to favourably aid the market growth. It enables precise identification of tissues during a surgical process, which is estimated to fuel the market growth. Moreover, increasing research activities to develop optical coherence tomography devices featuring automated analytical and diagnostic capabilities is anticipated to further propel the market growth in the forecast period.

Key Industry Players in the Global Optical Coherence Tomography Market

The report presents a detailed analysis of the following key players in the global optical coherence tomography market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Novacam Technologies, Inc.
• ZEISS Medical Technology
• Heidelberg Engineering GmbH
• Imalux Corporation
• Michelson Diagnostics Ltd
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report