The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s optical coherence tomography market report forecasts the optical coherence tomography market size to grow to $2.61 Billion by 2027, with a CAGR (compound annual growth rate) of more than 11%.

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Optical Coherence Tomography Market Size Forecast
The global optical coherence tomography market is expected to grow from $1.54 billion in 2022 to $1.71 billion in 2023 at a compound annual growth rate (CAGR) of 11.16%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The optical coherence tomography market is expected to grow to $2.61 billion in 2027 at a CAGR of 11.22%.

North America held the largest optical coherence tomography market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Optical Coherence Tomography Market Driver ­– Rise In The Prevalence Of Eye Disorders
For instance, according to the World Health Organization (WHO), a Switzerland-based specialized agency of the United Nations, near-or vision problems affect over 2.2 billion individuals worldwide due to eye conditions such as refractive error, cataract, glaucoma, diabetic retinopathy, and other conditions. Globally, age-related macular degeneration (AMD) ranks as the third cause of blindness after cataracts and glaucoma. In the European Union (EU), AMD is thought to impact 34 million individuals on average, including 22 million in just the five most populated nations. It is anticipated that there will be a 25% rise in the AMD patient population by 2050 owing to population growth and ageing. Primary open-angle glaucoma (POAG) is predicted to affect 7.32 million Americans by 2050, up from 3.15 million in 2015. Thus, the increasing prevalence of eye disorders is expected to drive the optical coherence tomography market.

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Key Optical Coherence Tomography Market Trend – Technological Innovations
Major players are releasing technologically upgraded products. They are also introducing sophisticated technologies to boost their revenue share, stay competitive in the optical coherence tomography market and to grow their market share. For instance, in November 2020, Leica Microsystems launched its next-generation EnFocus intraoperative Optical Coherence Tomography (OCT) solution that is built into the Proveo 8 ophthalmic microscope. The innovative ophthalmology portfolio has been developed to support surgical workflow and help ophthalmic surgeons focus on perfection during posterior and anterior segment surgery.

Optical Coherence Tomography Market Segment
1) By Type: Catheter-Based OCT Devices, Doppler OCT Devices, Handheld OCT Devices, Tabletop OCT Devices
2) By Technology: Time Domain OCT (TDOCT), Frequency Domain OCT (FD-OCT), Spatial Encoded Frequency Domain OCT
3) By Application: Ophthalmology, Cardiovascular, Oncology, Dermatology, Other Applications

Optical Coherence Tomography Market Major Players and Strategies
Major players in the optical coherence tomography market are Agfa HealthCare; Carl Zeiss Meditec AG, Heidelberg Engineering GmbH, Imalux Corporation, Michelson Diagnostics Limited, Novacam Technologies, Inc., OPTOPOL Technology Sp. z o.o., Topcon Healthcare, Conavi Medical Inc., ZD Medical Inc., Excelitas Technologies Corp, Imalux Corporation, Thorlabs Inc., Sonostar Technologies Co. Limited, and NIDEK Co. Ltd.

In December 2020, ZEISS, an internationally leading technology enterprise operating in optics and optoelectronics, acquired a majority stake in the imaging business of Arivis AG, for an undisclosed amount. The acquisition supports research pursuits in ZEISS’ microscopy business. Arivis AG is a German developer and designer visualization and analysis software of 2D, 3D, and 4D image data.

The Optical Coherence Tomography Global Market Report 2023 covers regional data on optical coherence tomography market size, optical coherence tomography market trends and drivers, opportunities, strategies, and optical coherence tomography market competitor analysis. The countries covered in the optical coherence tomography market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Optical coherence tomography (OCT) is an optical biopsy and effective imaging technology for medical diagnostics that provides images of tissue in situ and in real-time. Optical coherence tomography is used for high-resolution cross-sectional imaging.

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