Unlocking the Future of the Optical Coherence Tomography (OCT) For Healthcare And Life Science Market: Growth Rate, Key Trends, and Opportunities for 2025-2034
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Analyzing the Growth Rate of the Optical Coherence Tomography (OCT) For Healthcare And Life Science Market: What’s the Expected CAGR for the Next Decade?
The market size for optical coherence tomography (OCT), utilised in healthcare and life science, has experienced a fast-paced growth in the recent past. The market, which was valued at $1.96 billion in 2024, is projected to expand to $2.28 billion in 2025, growing at a compound annual growth rate (CAGR) of 16.3%. This upward trend during the historical period is linked to factors such as the increasing incidences of eye diseases, an expanding elderly population, heightened government health-focused initiatives, extended healthcare infrastructure, the growing use of non-invasive diagnostic tools, and an increase in research and development in the medical imaging field.
The market size of optical coherence tomography (OCT) for healthcare and life science is projected to experience substantial expansion in the following years. By 2029, the market is anticipated to reach $4.13 billion, with a compound annual growth rate (CAGR) of 16.0%. Several factors contribute to this predicted growth during the forecast period, including a surge in early diagnosis and treatment demands, an increase in chronic diseases that necessitate the use of OCT, a rising elderly population, growing investments in research for medical imaging, and escalating incidence of retinal disorders. Key trends anticipated during the forecast period encompass the merging of OCT with different imaging techniques, the advent of portable and handheld OCT gadgets, enhancements in OCT software and data scrutiny, and improvements in pediatric diagnostic OCT.
How Are the key drivers expanding the growth of the Optical Coherence Tomography (OCT) For Healthcare And Life Science Market?
The escalating occurrence of eye-related diseases is predicted to stimulate the expansion of the optical coherence tomography (OCT) among healthcare and life science markets. These diseases, which involve the eyes and related structures, could cause serious vision impairment or blindness. Notably, the aging demographic and the increased occurrence of sustained conditions such as diabetes are key contributors to the spread of these diseases. OCT offers in-depth, sectional visuals of the retina and optic nerve, assisting in the detection and observation of ocular disorders. For instance, the Review of Optometry reported in December 2022 that an estimated 80 million individuals around the globe have been impacted by glaucoma, with open-angle glaucoma (OAG) comprising 95% of these instances. More than three million people in the U.S are presently afflicted with this condition, and this figure is estimated to surge past 111 million by 2040. Thus, the growing rate of ocular diseases will catalyze the expansion of the optical coherence tomography (OCT) in the healthcare and life science market.
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What Are the Leading Organizations Impacting the Optical Coherence Tomography (OCT) For Healthcare And Life Science Market’s Growth?
Major companies operating in the optical coherence tomography (OCT) for healthcare and life science market are Abbott Laboratories, Canon Inc., Carl Zeiss Meditec AG, Leica Microsystems GmbH, Thorlabs Inc., Edmund Optics Inc., Huvitz Co. Ltd., Santec Corporation, Topcon Medical Systems Inc., OPTOPOL Technology SA, NinePoint Medical, AGFA Healthcare, Wasatch Photonics Inc., Perimeter Medical Imaging AI Inc., Nidek Co Ltd., Novacam Technologies Inc., DermaLumics, BaySpec Inc., Imalux Corporation, Lumedica, Phoenix-Micron Inc
What Are the Most Prominent Trends Driving Change in the Optical Coherence Tomography (OCT) For Healthcare And Life Science Market?
Key businesses in the optical coherence tomography (OCT) sector for healthcare and life sciences are concentrating their efforts on incorporating Artificial Intelligence technology to automate and enhance the performance of OCT scan assessments, ultimately aiming for improved diagnostic precision and patient outcomes. Employing AI platforms for OCT intensifies the diagnostic accuracy and efficiency by automating the process of analyzing and interpreting the scan results, thereby uplifting patient outcomes in fields of healthcare and life sciences. For instance, in October 2022, Altris Inc., a company specializing in medical technology based in the US, released Altris AI, an AI platform specifically customized to make OCT scans easier by offering swift analysis and visualization of 100 types of retinal pathologies. This software, which is cloud-based, facilitates the automated screening, division, and categorization of OCT scans, differentiating between normal and pathological scans. It provides quick examination of macula scans, taking about a minute on average to process, and has compatibility with all OCT devices and file formats.
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What Are the Major Segments of the Optical Coherence Tomography (OCT) For Healthcare And Life Science Market and Their Role in Driving Growth?
The optical coherence tomography (OCT) for healthcare and life science market covered in this report is segmented –
1) By Type: Catheter Based Optical Coherence Tomography (OCT) Devices, Doppler Optical Coherence Tomography (OCT) Devices, Handheld Optical Coherence Tomography (OCT) Devices, Tabletop Optical Coherence Tomography (OCT) Devices
2) By Technology: Time Domain Oct (TdOct), Frequency Domain Oct (FdOct), Other Technologies
3) By Application: Ophthalmology, Cariology, Dermatology, Gastroenterology, Other Applications
4) By End Users: Hospitals, Specialty Clinics, Research Institutes, Other End Users
Subsegments:
1) By Catheter Based Optical Coherence Tomography (OCT) Devices: Intravascular OCT (IV-OCT), Endoscopic OCT, Other Catheter-Based Devices
2) By Doppler Optical Coherence Tomography (OCT) Devices: Speckle-Tracking Doppler OCT, Phase-Resolved Doppler OCT
3) By Handheld Optical Coherence Tomography (OCT) Devices: Portable Handheld OCT Systems, Compact Handheld Devices
4) By Tabletop Optical Coherence Tomography (OCT) Devices: Standalone Tabletop Systems, Modular Tabletop Devices
What Regions Are Leading the Charge in the Optical Coherence Tomography (OCT) For Healthcare And Life Science Market?
North America was the largest region in the optical coherence tomography (OCT) for healthcare and life science market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the optical coherence tomography (OCT) for healthcare and life science market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Key Parameters Define the Optical Coherence Tomography (OCT) For Healthcare And Life Science Market’s Scope?
Optical coherence tomography (OCT) is a non-invasive imaging technique that uses light to capture high-resolution cross-sectional images of tissues. It is widely used in ophthalmology to view the retina and detect eye conditions, and it also has applications in other medical fields for detailed tissue imaging and assessment. It provides high-resolution, non-invasive imaging of tissues, offering detailed insights for diagnosing and monitoring conditions in ophthalmology and other medical fields.
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