Global Optical Coherence Tomography Market Set for High Gains: Expected to Reach USD 1,865.6 - PDF document

Global Optical Coherence Tomography Market Set for High Gains: Expected to Reach USD 1,865.6 Million in 2026 Global Optical Coherence Tomography Market Set for High Gains: Expected to Reach USD 1,865.6 Million in 2026 Summary Global Optical Coherence Tomography Market- By Technology (Spectral-Domain OCT (SD-OCT) and Swept-Source OCT);By Device (Handheld OCT Devices, Tabletop OCT Devices, and Catheter-Based OCT Devices); By Application (Cardiology, Ophthalmology, Dermatology, and Oncology); By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa); Trend Analysis, Competitive Market Share & Forecast, 2018-2026 Global Optical Coherence Tomography Market- Industry Trends & Forecast Report 2026 A study recently conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global optical coherence tomography market reached USD 1,110.9million in 2020 and is further projected to reach USD 1,865.6million by 2026, growing at a CAGR of 9.3% during 2018-2026 (forecast period). Optical Coherence Tomography (OCT) is a new technique that is used for high-resolution cross-sectional imaging. OCT imaging is similar to ultrasound imaging, but it uses light instead of sound. OCT has the potential to generate cross-sectional images of tissue structure on the micron scale in situ and in real-time. View report Press release Sample report Global Optical Coherence Tomography Market Set for High Gains: Expected to Reach USD 1,865.6 Million in 2026 Global Optical Coherence Tomography Market Overview Optical Coherence Tomography (OCT) is a new technique that is used for high-resolution cross-sectional imaging. OCT imaging is similar to ultrasound imaging, but it uses light instead of sound. OCT can provide cross-sectional images of tissue structure on the micron scale in situ and in real-time. High-resolution intraluminal imaging of organ systems is possible using OCT in conjunction with catheters and endoscopes. OCT is a strong imaging technology for medical diagnostics because, unlike traditional histopathology, which involves the removal of a tissue specimen and processing for microscopic examination, OCT can provide images of tissue in situ and in real-time. Thus, it can be used as a type of optical biopsy, OCT can be used where standard excisional biopsy is hazardous or impossible. It can be used to reduce sampling errors associated with excisional biopsy, as well as to guide interventional procedures. Based on technology, the global optical tomography market can be segmented into spectral-domain OCT (SD-OCT) and swept-source OCT. By device, it can be segmented into handheld OCT devices, tabletop OCT devices, and catheter-based OCT devices. By application, it can be grouped into cardiology, ophthalmology, dermatology, and oncology. Global Optical Coherence Tomography Market Forecast and Trends Driver: Multipurpose Application of OCT in Medical Field OCT's use is no longer restricted to eye disorders. It has been adopted in other applications as well, as a result of growing technological advances in this area. OCT’s top applications are oncology, cardiology, dermatology, ophthalmology, and others. Based on the coherence of light, OCT is a method of obtaining tomographic images of a human organ. OCT is an optical analog of intravascular ultrasound (IVUS), which is used to investigate the coronary arteries in cardiology. Coronary vasculature and, coronary graft assessment are the most common applications in cardiovascular medicine right now. Transplant vasculopathy, pulmonary hypertension, and the evaluation of radial arteries as grafts are among the other areas of study. According to the WHO, cardiovascular diseases (CVDs) are the leading cause of death globally. More people die annually from CVDs than from any other cause. In 2016, 17.9 million people were estimated to have died as a result of cardiovascular disease (CVD) representing 31% of all global deaths. Of these deaths, 85% are due to heart attack and stroke. Three-quarters of CVD deaths are reported from low and middle-income countries. Therefore, the adoption of OCT in different applications in the medical field like cardiology, dermatology, ophthalmology, oncology, and others likely to drive the market growth of OCT. In addition, the rising need for non-invasive, label-free, in vivo imaging methods for diagnosing and monitoring various pathologies is fueling the demand for OCT. This demand is especially strong in developing economies like China and India. Global Optical Coherence Tomography Market Set for High Gains: Expected to Reach USD 1,865.6 Million in 2026 Driver: Increase in the Number of Patients with Eye Disease The market is also witnessing increased demand for OCT due to the increasing occurrence of eyesight disorders, such as hyperopia, myopia, astigmatism, and presbyopia. Besides, Vitamin A deficiency and accident cases are rising profusely over the past few years. The OCT is an excellent way to visualize the different layers of the retina and optic nerve in a living eye. Before these incredible technologies were discovered, we were only able to see the view of an eye with tissue sections after the death of the patient or if the eye was removed. According to a report released by the WHO in October 2020, a minimum of one billion people have a near or distance vision impairment across the globe. These 1 billion people consist of those with acute or moderate distance vision impairment or blindness caused by unaddressed refraction error (123.7 million), glaucoma (6.9 million), cataract (65.2 million), diabetic retinopathy (3 million), trachoma (2 million), corneal opacities (4.2 million), as well as near vision impairment caused by unaddressed presbyopia (826 million). The rising occurrence of myopia, diabetic retinopathy, and increased spending on OCT for detection as a remedial measure for refractive errors, are likely to drive the OCT market's progress in the coming times. Restraint: Unfavorable Medical Reimbursement Schemes Several countries attempted to enact mandatory health insurance in the early 20thcentury, but all of their attempts failed due to a lack of public backing. Physicians were against the insurance because they felt it would limit their earning potential. Pharmacists were against it because they believed it would hurt their business. Commercial insurance companies opposed medical reimbursement schemes because a majority of proposed legislation included exclusions for companies that carried burial insurance. At the time, it was a substantial part of the insurance company’s business portfolio. Many companies claimed that having no signature from a physician, having late or forged signatures, or approving fewer hours of treatment than claimed for patients for which the company requested reimbursement resulted in fraud and unethical business practices, which hindered the market growth of OCT. As a result, the demand for OCTs is being hampered by unfavorable medical reimbursement policies. Impact of COVID-19 on Global Optical Coherence Tomography Market The global optical coherence tomography market saw a significant decrease in demand as a result of COVID-19 in the year 2020. The pandemic had a significant impact on the industry's regulatory parameters. As soon as the World Health Organization (WHO) declared the novel coronavirus (COVID-19) as a pandemic, countries across the globe were compelled to enforce nationwide lockdown to prevent the spread of the virus. Due to restrictions and lockdowns, market suppliers initially faced difficulties in supplying their goods to end-users. As a result, optical coherence tomography was not being delivered to its full potential. However, this trend waned during the post-COVID era and the market began to expand, ultimately leading to surplus demand. Global Optical Coherence Tomography Market Set for High Gains: Expected to Reach USD 1,865.6 Million in 2026 The demand for OCT technology increased owing to its effectiveness in the diagnosis of diseases in emergency conditions. In addition to this, according to some studies, patients who recovered completely from the COVID-19 virus experienced some vision problems. Studies found that patients had alterations in the retinal microvasculature. The rise in such complications fueled the demand for OCT technologies, which resulted in a boom in the market. The screening systems including Ophthalmology, Cardiology, and intravascular applications, had experienced better growth results in comparison to their counterparts like dentistry and oncology (image screening for cancer diagnostics). Global Optical Coherence Tomography Market- By Technology Based on technology, the global optical coherence tomography market is categorized into Spectral-Domain OCT (SD-OCT) and Swept-Source OCT. SD-OCT is an interferometric technique that uses spectral analysis of the interference fringe pattern to provide depth-resolved tissue structure information encoded in the magnitude and delay of back-scattered light. Swept Source optical coherence tomography (OCT) is the most recent advancement in retinal and choroidal imaging. In Swept-Source OCT, the interference patterns are subjected to a process known as Fourier transformation in this technology, which allows for simultaneous measurement of all light echoes. Spectral-Domain OCT Segment is leading the market with a valuation of over USD 690million in 2020.Recent hybridization of OCT with angiography forming the OCT angiography devices are gaining popularity in the medical field which finds application in cardiovascular conditions. For instance, Optovue, Leica Microsystems, and companies such as IBM are developing OCT angiography devices incorporated into analytics to provide a complete quantitative picture of the scans, thereby promoting better diagnosis. Global Optical Coherence Tomography Market- By Device Based on devices, the global optical coherence tomography market is segmented into handheld OCT devices, tabletop OCT devices, and catheter-based OCT devices. Handheld OCT devices used for early detection of some eye diseases may be as simple as scanning a bar code. Tabletop OCT devices work for distances of about 25 mm. Additionally, the patient must be immobilized with a chinrest while using tabletop OCT. These systems require upright and cooperative patients who can fixate for seconds at a time with extensive instrumentation close to their face in order to obtain high-quality OCT images. Catheter-based optical coherence tomography uses intravascular imaging technology that uses low-coherence light interferometry and near-infrared light to capture high-resolution 2-D and 3-D image reconstructions of coronary arteries. During the forecast period, handheld OCT devices held 33.24% of the optical coherence market in 2020. Factors such as high product perforation in markets across the developed regions such as the U.S, UK, Germany, and Brazil, have been driving the growth of the segment. Additionally, the Tabletop segment is leading the market with a valuation of USD 563.6 Million in 2020. Global Optical Coherence Tomography Market Set for High Gains: Expected to Reach USD 1,865.6 Million in 2026 Global Optical Coherence Tomography Market- By Application Based on application, the global optical coherence tomography market is segmented into cardiology, ophthalmology, dermatology, and oncology. Cardiology is the study and treatment of heart and blood vessel disease. Ophthalmology is a medical and surgical specialty that focuses on the diagnosis and treatment of eye diseases. Dermatology is a branch of medicine that focuses on skin conditions and diseases. It is concerned with the study, research, and diagnosis of normal and abnormal skin. Oncology, on the other hand, is a medical specialty that focuses on the detection and treatment of cancer. Due to rising incidences of retinal and choroidal disorders, the demand for ophthalmology is expected to rise in the future. According to the World Health Organization (WHO), an estimated 2.2 billion people worldwide had visual impairments in 2019, with 1 billion of them preventable. This is leading to an ophthalmologist using optical coherence tomography for screening and diagnosing purposes. The advent of higher-performing instruments, as well as multiple advantages of optical coherence tomography, such as accuracy and ease of use, have made it more appealing to use in ophthalmology, boosting the segment's development. Global Optical Coherence Tomography Market- By Region Based on region, the optical coherence tomography market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Due to the aging population, increased R&D spending, and adoption of new products in the United States, North America is projected to hold a significant market share in the global optical coherence tomography market. Furthermore, hospital expansion, growing healthcare spending, and the presence of well-established healthcare infrastructure are all contributing to the overall market's growth in all regions. Competitive Landscape The OCT the market is consolidated with the presence of prominent players such as Carl Zeiss AG, Alcon, Topcon Corporation, Heidelberg Engineering, Optovue, Abbott Laboratories, Terumo Corporation, B. Braun Melsungen AG, and other prominent players. Among the main strategies adopted by these players for gaining a competitive advantage are investments in R&D, partnerships with other market participants, and mergers & acquisitions. For example, Carl Zeiss presents its new solution enhancements to help doctors maximize clinical efficiency and improve patient care ranging from assessment, and diagnosis, to treatment. The latest digital solutions from Carl Zeiss are simple to set up, simple to use, and provide amazing insights across the full spectrum of care. Recent Developments  In March 2020, Alcon announced that Vivity, the availability of the first presbyopia-correcting intraocular lens with X-WAVE technology, in Europe.  In March2020, ZEISS completed its acquisition of Saxonia Systems AG, a pioneer in bespoke software solutions. The fully acquired company, which is now known as Carl Zeiss Digital Innovation will continue to support the ZEISS segments' digital projects and will play a leading role in innovation. It will also Global Optical Coherence Tomography Market Set for High Gains: Expected to Reach USD 1,865.6 Million in 2026 keep doing business with non-ZEISS customers. Using new technologies is an integral part of ZEISS's long-term growth strategy. Scope of Report Attribute Details Years considered Historical data- 2018-2020 Base Year- 2021 Forecast- 2021-2026 Facts covered Revenue in USD Million Market coverage United States, Canada, South America, Germany, France, U.K., Italy, Spain, Rest of Western Europe, Rest of Europe, Japan, China, India, South Korea, Australia, Rest of APAC, UAE, Saudi Arabia, Oman, Kuwait, Qatar and Rest of MEA. Product/ Service segmentation By Technology, By Device, By Application, By Region Key Players Alcon Vision LLC , Carl Zeiss Meditec AG, Terumo Corporation, Koninklijke Philips N.V., Michelson Diagnostics, Optovue, Abbott Laboratories, Topcon Corporation, Nidek Co. Ltd., B. Braun, Boston Scientific Corporation, Heidelberg Engineering GmbH, Novacam Technologies, Inc, OPTOPOL Technology Sp. z o.o.and other prominent players. By Technology Ø Spectral-Domain OCT (SD-OCT) Ø Swept-Source OCT By Device Ø Handheld OCT Devices Ø Tabletop OCT Devices Ø Catheter Based OCT Devices Global Optical Coherence Tomography Market Set for High Gains: Expected to Reach USD 1,865.6 Million in 2026 By Application Ø Cardiology Ø Ophthalmology Ø Dermatology Ø Oncology By Region Ø North America Ø Europe Ø The Asia-Pacific Ø Latin America Ø The Middle East and Africa Global Optical Coherence Tomography Market Set for High Gains: Expected to Reach USD 1,865.6 Million in 2026 About us Blueweave Consulting offers a one-stop solution for your market intelligence needs for any service or product. You get well-researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well informed and timely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk-return trade-off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavours successful. For more information, kindly visit our Website www.blueweaveconsulting.com contact us at info@blueweaveconsulting.com Global Optical Coherence Tomography Market Set for High Gains: Expected to Reach USD 1,865.6 Million in 2026