Optical Coherence Tomography Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Optical Coherence Tomography Market Analysis

The Optical Coherence Tomography Market is expected to register a CAGR of 10.2% during the forecast period (2022-2027).

The supply chain disruption caused due to the COVID-19 pandemic has led to a shortage of critical medical devices for diagnosis and treatments across the world. Therefore, many countries have taken definite measures to ease the shortages through domestic manufacturing of the products. In addition, domestic manufacturing of essential products is expected to overcome trade barriers and ensure product quality and market stability. Several precautions were taken in providing services to glaucoma patients during the COVID-19 pandemic. For instance, during the COVID-19 pandemic 2020, there were numerous incidences of pathogen transmission, specifically COVID-19, during the patient visit to an outpatient glaucoma clinic, according to a research article by Julie M. Shabto et al., published in the Journal of Glaucoma Journal in April 2020. The number of patients in these clinics even during periods of constrained patient flow and the number of tools that may be used during a single-patient examination were given effective infection control techniques during the COVID-19 pandemic. Carl Zeiss market devices, equipment, systems, and others for ophthalmology saw a severe reduction in revenue during the COVID-19 pandemic 2020, especially in the spring. For instance, the Carl Zeiss Annual Report 2019-2020 reported that the second quarter's revenue decreased by about 40%. (April-June 2020). Additionally, compared to 2019, income for the year 2020 decreased. Additionally, the COVID-19 pandemic caused a large drop in revenue in the first quarter of 2020, according to iCare Finland OY's annual report for 2020. Later, the second quarter of 2020 proved to be successful given the conditions, especially given the rise in demand for the market under study. As a result, there was a minor short-term negative impact on the market, particularly as a result of the decreased ophthalmological services during the COVID-19 outbreak in 2020. The market's growth has improved, nevertheless.

The demand for ophthalmic devices is rising as eye-related disorders are becoming more common. The aging population has begun to face possible hazards from eye diseases in many industrialized and emerging nations. The prevalence of serious eye conditions is rising worldwide, and vision loss is turning into a significant public health issue. 35,873 adults with diabetes underwent at least one examination for diabetic retinopathy, according to the study "Prevalence and incidence of diabetic retinopathy (DR) in the UK population of Gloucestershire" released in May 2021. The average age of those who had diabetic retinopathy was 66, and 57% of them were men. 93% of those who had type 2 diabetes also had diabetic retinopathy. According to this study article, the prevalence of diabetic retinopathy is rising throughout the nation, increasing the demand for ophthalmic devices. The association between diabetes and the disease is also supported by this study. As a result, the market will benefit from the country's rising diabetes prevalence. An estimated 2,680,500 people in the United Kingdom have been diagnosed with diabetes, according to data released by the International Diabetes Federation in February 2020. Diabetes prevalence among adults in the nation was 5.6%. The burden of diabetic retinopathy in the nation is predicted to rise as a result over time. This will drive the market by driving demand for coherence tomography. Thus, the abovementioned factors are expected to increase market growth.

However, reimbursement policies are expected to hinder market growth.

Optical Coherence Tomography Market Trends

This section covers the major market trends shaping the Optical Coherence Tomography Market according to our research experts:

Opthalmology by Application in Optical Coherence Tomography Market is Expected to Witness a Healthy Growth in Future.

Optical Coherence Tomography Industry Segmentation

As per the Scope, Optical coherence tomography is a noninvasive imaging technique that provides high-resolution, cross-sectional images of the retina, retinal nerve fiber layer, and the optic nerve head. The Optical Coherence Tomography Market is segmented By Type (Handheld OCT devices, and Tabletop OCT devices), Application (Dermatology, Ophthalmology, Cardiovascular, and Others), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.