Ocular Coherence Tomography Market to Generate $697 Million in 2017
Source: Market Scope
Monday, July 10, 2017 | Medical Studies ,
Market Scope estimates that the optical coherence tomography (OCT) market will generate $697 million in total manufacturer revenues in 2017, and the market will grow to $865 million by 2022 at a compounded annual growth rate of 4.4 percent.
OCTs are employed by eye care professionals as a tool to help understand and diagnose retinal conditions. The ophthalmic diagnostic market as a whole is a $3.3 billion market, of which OCTs make up one-fifth of overall revenues.
We expect much of this growth to come from software upgrades and demand for newer, more featured devices to replace those currently in use, as well as expansion of eye care services in developing markets. Recent innovations, such as systems combining OCT technology with fundus imaging or scanning laser ophthalmoscope (SLO) technology, are growing in popularity. In addition, more companies are offering OCT angiography software.
The US market represents more than a third of global market revenues, largely due to lucrative markets for retinal evaluation and intraoperative surgical equipment. We anticipate faster growth over the next five years in emerging markets, including China and India, where we will see a slight increase in their share of overall revenues. Growth in these emerging markets will be due largely to expansion of advanced eye care services, resulting from demand from a growing middle class, and general expansion in medical systems to address a largely underserved population.
Carl Zeiss Meditec is the market leader in this segment, capturing an estimated 34 percent of global OCT revenues. Other market leaders include Heidelberg, Topcon, and Optovue. Traditional ophthalmic market leaders Alcon, J&J Vision (formerly AMO), and Bausch + Lomb do not have equipment in this segment and play a minor role in the diagnostic equipment market.
Market Scope published its 2017 Optical Coherence Tomography Report: An Analysis for 2016 to 2022 in May 2017. Our report on the optical coherence tomography market is a leading industry source for accurate and relevant information on all aspects of the global OCT market. We cover background information about OCT equipment and have grouped devices into five categories, including basic OCT models, advanced OCT models, combination OCT/fundus systems, combination OCT/SLO systems, and intraoperative OCT. Estimates include unit sales, installed equipment base, average prices, and information about the manufacturers who participate in the market.
You must be logged in to leave a comment.