Global Optical Coherence Tomography Market to Grow at 7% CAGR through 2027

The global optical coherence tomography market is projected to grow at a CAGR of nearly 7% to surpass US$ 1.3 billion in revenues. The key factors driving growth of the market include increasing prevalence of ophthalmological disorders, owing to which government and healthcare providers are focusing on offering effective and safe treatment options. These insights are according to a latest research report added to the database of Market Research Reports Search Engine (MRRSE). The report titled, “Optical Coherence Tomography Market: Global Industry Analysis and Opportunity Assessment, 2017-2027”, is a comprehensive source of information on the key trends and future direction of this market.

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According to the report, the popularity and adoption of optical tomography is likely to witness an increase in developing countries, owing to which the market is expected to witness steady growth. Governments in emerging countries are prioritizing healthcare services, as years of steady economic growth has given them the means to offer effective services at low costs.

In a bid to consolidate their position in the global optical coherence tomography market, manufacturers are focusing on offering innovative and advanced products to end-users. The focus is on developing machines that offer high-resolution images, along with being user-friendly and portable. In the next ten years, it is highly likely that focus on functionality will witness gain more prominence.

North America is the largest market for optical coherence tomography market globally. Higher awareness among healthcare providers and patients remains one of the key factors for higher adoption of this treatment option. The North America optical coherence tomography market is valued at over US$ 200 million in 2017; it is likely to continue on its growth path during the forecast period. In addition to North America, Asia Pacific excluding Japan (APEJ) remains another lucrative market for optical coherence tomography market. Sales of optical coherence tomography equipment in these countries is likely to witness a spike during the forecast period in APEJ. Owing to the increasing adoption of this treatment option, leading companies in the global market are focusing on consolidating their position by expanding into APEJ.

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Demand for optical coherence tomography equipment is currently the highest among hospitals. The hospitals segment accounts for nearly 40% revenue share of the global market. Use of optical coherence tomography for treating eye disorders will continue to account for bulk of revenues.

The key companies profiled in the report include Sonostar Technologies Co., Limited, NIDEK CO. LTD., Moptim Imaging Technique, Tomophase Inc., Michelson Diagnostics Ltd, Topcon Corporation, OPTOPOL Technology Sp. z o.o. (Sub. Canon Inc.), Heidelberg Engineering GmbH, Santec Corporation, Carl Zeiss Meditec AG, Optovue Inc., Leica Microsystems (Sub. Danaher).

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