The global market for optical coherence tomography technologies is expected to reach $1.2 billion in 2019.
Wellesley, Mass. (PRWEB) July 09, 2015
The global optical coherence tomography (OCT) market is growing mainly due to the extensive applicability and potential that OCT techniques have shown through their successes in the commercial market and investigational studies. BCC Research reveals in its new report that emerging OCT technologies are poised to expand the scope of OCT imaging as demand increases for technologies that offer advanced, non-invasive, high-resolution and deep penetration in the structural analysis of tissues and other materials.
The global market for optical coherence tomography reached $79.4 million in 2014. Forecast to grow at a five-year compound annual growth rate (CAGR) of 7.9%, the market should reach $1.2 billion in 2019. Frequency domain (FD)-OCT, the largest segment, totaled $691.1 million in 2014, and should reach about $1 billion in 2019 with an anticipated CAGR of 7.8%. Full-field OCT is expected to register the highest CAGR of all the segments at 11.2%, and should reach a market value of $58.3 million, up from $34.3 million in 2014.
OCT imaging has progressed remarkably during the past decade, in both its technological aspects as well as in application areas. OCT techniques are dominant in the medical field as they are non-invasive, safe, cost-effective and offer precise therapeutic insights. Many companies and institutions are developing OCT-based imaging products, platforms and technologies that offer significant diagnostic benefits in the fields of ophthalmology, cardiology, oncology and other conditions. In addition, the innovative OCT products for food and beverage, environmental science and other domains also are being developed.
The global time domain (TD)-OCT market is growing because these systems are less expensive than many other high-end OCT systems in the market today, making these technologies the preferred choice for research work in diverse fields. Additionally, TD-OCT applications in the clinical setting for ophthalmic usage, cardiology, polymer analysis and more will boost the market. The global market for TD-OCT totaled $50.4 million in 2014, and should reach $70.5 million in 2019, with a 6.9% CAGR.
“Currently, there have been various advances in OCT technologies and approved commercial products are available for diagnosing certain diseases. For example, some high-resolution OCT systems enable end-users to count individual rods and cone photoreceptors, which makes it easier to monitor the progression of retinal diseases,” says BCC research analyst Shalini S. Dewan. “Further, OCT systems are now used for better microscopic examination of diseases inside arteries through the help of high-definition, 3D imagery and stent placement tools. In food research, OCT is applied for revealing the structural properties of fruit and other food items.”
Global Markets and Technologies for Optical Coherence Tomography (OCT) (HLC097B) analyzes the global market for optical coherence tomography (OCT), including details on system technology segments such as traditional (time domain), frequency domain, and other modes of OCT measurement. Global market trends, with data from 2013 and 2014 and projections of CAGRs through 2019 also are provided.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming(at)bccresearch(dot)com.
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