Optical Coherence Tomography Market Growth & Trends
The global optical coherence tomography market size is expected to reach USD 5.28 billion by 2030 and is anticipated to expand at a CAGR of 15.41% during the forecast period. Rising demand for early diagnosis of the disease, constant innovation and development of newer technologies, higher demand for new biomedical applications such as drug delivery, and rising prevalence of eye disorders is expected to drive the optical coherence tomography (OCT) market growth. However, a lack of favorable reimbursement policies and clinical information can hamper the market growth in the coming years.
COVID-19 pandemic has led to a huge surge in demand for medical supplies and respiratory support devices such as life-support machines, atomizers, oxygen generators, and monitors. OCT angiography is used for the imaging of retinal vascular changes in fully recovered Covid-19 patients. The key manufacturers of OCT systems are struggling to maintain their production capacity, along with finding newer methods to strengthen their presence, such as mergers and acquisitions, and collaborations with suitable market players. These initiatives by market players can be positive for the optical coherence tomography market in the upcoming year.
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Optical Coherence Tomography Market Report Highlights
The frequency-domain optical coherence tomography (FD-OCT) segment accounted for the largest revenue share in 2021 followed by time-domain optical coherence tomography (TD-OCT)
Handheld OCT devices held the largest share in 2021 owing to a wide application in the detection of diabetic retinopathy, macular degeneration,and glaucoma
Ophthalmology is dominating the market owing to increasing incidences of choroidal and retinal disorders and increasing adoption of optical coherence tomography devices by an ophthalmologist for imaging and diagnosing purposes
North America held the largest share in the optical coherence tomography market and is expected to maintain its dominance during the forecast period
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