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). The overall demand is being boosted by the growing aging
population combined with advancements in technology, such
as the ability to imagine the in-depth structure of the eye, mucosal membranes,
surface tissue, and vascular system. Furthermore, optical coherence tomography
is advantageous in addressing a variety of major health issues, including
non-melanoma skin cancer, cardiovascular diseases, age-rated macular disease,
prostate cancer, and others, where a non-invasive, label-free, and in vivo
imaging technique for diagnosing and monitoring is required.
Global Optical Coherence
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
Coherence TomographyMarket Forecast and Trends
Driver: Multipurpose Application of OCT
in Medical Field
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.
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.
Driver: Increase in the
Number of Patients with Eye Disease
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.
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.
Medical Reimbursement Schemes
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.
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
Impact of COVID-19
on Global Optical Coherence TomographyMarket
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.
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).
Coherence TomographyMarket- 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.
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.
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.
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.
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.
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
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.
- 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 keep doing business with
non-ZEISS customers. Using new technologies is an integral part of ZEISS's
long-term growth strategy.
Scope of Report
Historical data- 2018-2020
Base Year- 2021
Revenue in USD Million
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.
By Technology, By Device, By Application, By Region
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
Ø Spectral-Domain OCT (SD-OCT)
Ø Swept-Source OCT
Ø Handheld OCT Devices
Ø Tabletop OCT Devices
Ø Catheter Based OCT Devices
Ø North America
Ø The Asia-Pacific
Ø Latin America
Ø The Middle East and Africa
1. What is the current
size of the global optical coherence tomography market?
Answer: The global optical coherence tomographymarket
has reached USD 1,110 Million in 2020.
What are the major factors driving the growth of the global
optical coherence tomography market?
major factor propelling the growth of the global optical coherence tomography market is technical innovations.
3. Who are the key
players in the global optical coherence tomography market?
Answer: The key players in the global optical
coherence tomographymarket include: 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.
Which technology accounted for the largest share in the
global optical coherence tomography market?
Answer: Spectral-Domain OCTaccounted for the largest
share in the global optical coherence tomography market.
5. Which device is
dominating the global optical coherence tomography market?
Answer: Handheld OCT Devices dominating the global optical
coherence tomography market.