The Global Optical Coherence Tomography Market is expected to grow at a CAGR of 8.9% during the forecast period 2017-2023. The non-invasive nature of optical coherence tomography (OCT) and its ability to generate a false-color depiction of tissue structure has made the global market for OCT highly lucrative. OCT is comparable to ultrasound imaging, with the principal difference that the technology uses light instead of sound.

Research & development of the technology has led to efficient, fast and accurate OCT devices which have branched out from ophthalmology to include medical applications in dermatology, and cardiology among others, thus facilitating growth. Market Research Future's report on OCT predicts an estimated evaluation of USD 1.48 billion by 2023 and an impressive CAGR of 8.9% during the forecast period of 2017 to 2023.

Increasing application of optical coherence tomography, rising approval from regulatory bodies, and favorable reimbursements are also fueling the market growth. OCT has been evolved as one of the most important imaging technique in various medical applications. OCT is an optical analog of intravascular ultrasound in cardiology, used to examine the coronary arteries. There are various products in the market for cardiovascular applications such as Dragonfly imaging catheter and C7-XR OCT system by Abbott, Lunawave - Coronary imaging console by Terumo, and others. But despite various applications, Ophthalmology is still the dominating field of biomedical OCT due to the precision of OCT that fits well the near-optical quality of many ophthalmological structures.

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Optical Coherence Tomography Market Key Players:

Market leaders have been featured in the report to provide a comprehensive understanding of the competitive landscape. Prominent players included in the report are Imalux Corporation, Optovue, Michelson Diagnostics, Carl Zeiss AG, Alcon, Abbott Laboratories, Terumo Corporation, KONINKLIJKE PHILIPS N.V, B. Braun Melsungen AG, Boston Scientific Corporation, OPTOPOL Technology S.A, Heidelberg Engineering GmbH, Topcon Corporation, NIDEK Co., Ltd, Novacam Technologies Inc, Thorlabs Inc., and Agfa Healthcare

Optical Coherence Tomography Market Regional Analysis:

The Americas hold the largest share with nearly 37% of the global market share. Increasing occurrence of diabetic retinopathy and other eye diseases is one of the key factors driving the growth of the market. Moreover, there is a strong presence of market leaders. MRFR as predicted that region will reach an evaluation of approximately USD 558.34 million by 2023.

Europe follows the Americas lead and is expected to maintain a strong second lead due to supportive government policies and research & development carried out by private players is the primary propeller for the growth of the OCT market over the forecast period. The region is expected to closely follow the growth pattern of the Americas.

The Asia-Pacific region, is predicted to be the fastest growing region with a CAGR of 9.4% during the forecast period. A massive patient population in the region with a rising incidence of eye diseases and diabetic retinopathy is expected to fuel rapid growth for the region. International market leaders are trying to enter this region, and this is likely to facilitate growth in the coming years further.

The Middle East & Africa are expected to experience limited growth. This is primarily due to the passive development in the African continent.

Global Optical Coherence Tomography Market Segmentation:

The Global Optical Coherence Tomography Market is segmented on the basis of technology, application, and type of devices.

On the basis of the technology, the market is classified into spectral-domain OCT (SD-OCT), swept-source OCT, and others.

On the basis of the application, the market is segmented into cardiology, ophthalmology, dermatology, oncology, others.

On the basis of the type of devices, the market is segmented into handheld OCT devices, tabletop OCT devices, catheter-based OCT devices, and others.

Major TOC For Optical Coherence Tomography Market Research Report Forecast to 2023:

1  REPORT PROLOGUE

2  MARKET INTRODUCTION

2.1 Assumptions & Limitations

2.1.1 Assumptions

2.1.2 Limitations                         

3  RESEARCH METHODOLOGY

3.1 Primary Research Methodology

3.2 Secondary Research Methodology

3.3 Market Share Analysis

3.4 Trade Analysis

3.5 Market Pricing Approach

4  MARKET DYNAMICS

4.1 Introduction

4.2 Drivers

4.2.1 Increasing Prevalence Of Diabetic Retinopathy And Other Eye Diseases

4.2.2 Increasing Technological Advancements

4.2.3 Multipurpose Application, Which Goes Beyond Ophthalmology Use To Other Diseases

4.3 Restraint

4.3.1 High Cost

4.4 Opportunities

4.4.1 Rising Approval From Regulatory Bodies

4.4.2 Favourable Reimbursements

4.5 Macroeconomic Indicators

TOC Continued…!

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