Global Optical Coherence Tomography market size will reach xx million US$ by 2025, from xx million US$ in 2018, at a CAGR of xx% during the forecast period. In this study, 2018 has been considered as the base year and 2019-2025 as the forecast period to estimate the market size for Optical Coherence Tomography .
This industry study presents the global Optical Coherence Tomography market size, historical breakdown data (2014-2019) and forecast (2019-2025). The Private Plane production, revenue and market share by manufacturers, key regions and type; The consumption of Optical Coherence Tomography market in volume terms are also provided for major countries (or regions), and for each application and product at the global level.
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Global Optical Coherence Tomography market report coverage:
The Optical Coherence Tomography market report covers extensive analysis of the market scope, structure, potential, fluctuations, and financial impacts. The report also enfolds the precise evaluation of market size, share, product & sales volume, revenue, and growth rate. It also includes authentic and trustworthy estimations considering these terms.
The Optical Coherence Tomography market has been reporting substantial growth rates with considerable CAGR for the last couple of decades. According to the report, the market is expected to grow more vigorously during the forecast period and it can also influence the global economic structure with a higher revenue share. The market also holds the potential to impact its peers and parent market as the growth rate of the market is being accelerated by increasing disposable incomes, growing product demand, changing consumption technologies, innovative products, and raw material affluence.
The following manufacturers are covered in this Optical Coherence Tomography market report:
Spectral Domain-OCT is the most attractive segment in the global optical coherence tomography market with an attractiveness index of 2.9 over the forecast period
Spectral Domain-OCT segment by product type is projected to dominate the global optical coherence tomography market in terms of value and is expected to gain 161 BPS in 2027 as compared to that in 2017. The Swept Source-OCT segment is estimated to account for 29.2% revenue share of the global optical coherence tomography market by 2017 end and is expected to lose 122 BPS in its market share by 2027 over 2017. The Spectral Domain-OCT segment is estimated to create absolute $ opportunity of close to US$ 30 Mn in 2017 over 2016. Revenue from the Spectral Domain-OCT segment is anticipated to increase at a CAGR of 7.0% over 2017–2027, to reach more than US$ 900 Mn by 2027 end. Swept Source-OCT segment is estimated to create absolute $ opportunity of more than US$ 10 Mn in 2017 over 2016.
Spectral Domain-OCT dominated the North America optical coherence tomography market by product type in terms of revenue in 2016, and the trend is projected to grow throughout the forecast period. The segment is the most attractive segment, with an attractiveness index of 2 over the forecast period. In Western Europe, the Spectral Domain-OCT segment is expected to grow during the projected period with an attractiveness index of 2.1.
Increasing number of start-ups in the OCT market and rising number of agreements with distributors to increase product reach likely to boost revenue growth of the global optical coherence tomography market
Applications of OCT are growing as research and innovation are continuously paving way for the development of solutions for various disease treatments and medical diagnoses. OCT is used to examine tumours in the human body in real time, which will help in identification and treatment. It is also used in dental medicine for the estimation of the mineral density of teeth and observation of various dental surgeries. Dermatology and Ophthalmology are the two branches of medical science that use OCT applications. OCT is used in dermatology to identify skin cancer and visualise the different layers of the skin, while it is used in ophthalmology for the diagnosis of various diseases. OCT is also used in non-medical applications for identifying the layers, dimensions and characters of semi-conductor chips and LCD layers. This frequent usage of OCT applications is driving its growth in the global optical coherence tomography market.
Optical coherence tomography has covered a long journey from lab valve to commercialised devices as the first device introduced in the market in 1996 was a basic model working with the technology on Time Domain OCT. Now-a-days, OCT devices work on various technologies such as Fourier domain OCT. There are various medical innovations such as in April 2017, Optovue launched high-density OCT angiography for ophthalmology to provide high resolution and peripheral visualisation of the vasculature in eyes, while detection of macular edema of eye and identification of blood and cardiac walls in beating embryonic hearts are under innovation. Product innovation is also boosting the global optical coherence tomography market.
Companies are collaborating with a number of distribution channel partners in different locations to provide their products and services. This concept of partnering with regional distributors saves the company revenue and time spent in understanding local markets. For instance, in October 2016, Optopol Technology announced a partnership with BiB Ophthalmic Instruments, U.K for the distribution of OCT systems in the U.K. market. Another example is the partnership of Optovue with ROCOL SA for the marketing and distribution of medical and ophthalmology equipment. Agreements with distributers to increase product reach is creating a positive impact on the global optical coherence tomography market.
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The study objectives are Optical Coherence Tomography Market Report:
- To analyze and research the global Optical Coherence Tomography status and future forecast involving, production, revenue, consumption, historical and forecast.
- To present the key Optical Coherence Tomography manufacturers, production, revenue, market share, SWOT analysis and development plans in next few years.
- To segment the breakdown data by regions, type, manufacturers and applications.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends, drivers, influence factors in global and regions.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market.
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
In this study, the years considered to estimate the market size of Optical Coherence Tomography Market:
History Year: 2014 – 2018
Base Year: 2018
Estimated Year: 2019
Forecast Year: 2019 – 2025
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This report includes the estimation of market size for value (million USD) and volume (K Units). Both top-down and bottom-up approaches have been used to estimate and validate the market size of Optical Coherence Tomography market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.
For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.