Author: Himanshu Patni
12 August 2023
The Asia Pacific is home to a large patient population as the region consists of countries such as China, India, Japan, Malaysia, Indonesia, and others. The region has a high prevalence of eye diseases such as age-related macular degeneration, glaucoma, and diabetic retinopathy. This has increased the demand for OCT devices, which are used for the early detection and diagnosis of these diseases. Moreover, Governments in the Asia Pacific region are increasing their healthcare expenditure to improve the quality of healthcare and address the growing burden of chronic diseases. This has led to increased investment in ophthalmic diagnosis and treatment, including the adoption of OCT devices. For instance, Central and State Governments’ budgeted expenditure on the health sector reached 2.1% of GDP in FY23 (BE) and 2.2 percent in FY22 (RE), against 1.6% in FY21.
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Further, the Asia-Pacific Optical Coherence Tomography Market is expected to grow at a strong CAGR of11% during the forecast period (2022-2028). The geriatric population in the region is becoming a major concern for healthcare facilities in dealing with the rising number of patients and hospitalization cases which results in increased incidences of hospital-acquired infection, and it becomes important for the increasing adoption of optical coherence tomography in the region.
Based on technology, the market is segmented into time-domain OCT (TDOCT), frequency domain OCT (FD-OCT), and spatial encoded frequency domain OCT. Frequency domain OCT (FD-OCT) held dominating share in 2021. Frequency domain OCT (FD-OCT) is a type of OCT that operates by measuring the frequency of the reflected light waves, rather than the time it takes for them to return, as in time domain OCT. The ability of frequency domain OCT to provide large images attributes to the large segmental share.
Based on the type, the market is segmented into catheter-based OCT devices, doppler OCT devices, handheld OCT devices, and tabletop OCT devices. The Doppler OCT devices segment is expected to grow with a higher CAGR in the Optical Coherence Tomography market during the forecast period. Doppler Optical Coherence Tomography (OCT) is a specialized type of OCT that allows for non-invasive imaging of blood flow and other fluid dynamics within tissues and organs. Due to the increased usage of Doppler OCT devices in a variety of medical applications, including ophthalmology, cardiology, and neurology, the market for Doppler OCT devices is witnessing fast growth.
Based on application, the market is segmented into ophthalmology, cardiovascular, oncology, dermatology, and others. Ophthalmology held dominating share in 2021. The rising prevalence of optical disorders, along with the increasing population with these ophthalmic diseases are the main reason for the growth of the segment. For instance, as per the American Academy of Ophthalmology, Cataracts affect more than 24.4 million Americans age 40 and older. By age 75, approximately half of all Americans have cataracts.
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Global Optical Coherence Tomography Market Segmentation
Market Insight, by Technology
· Time Domain OCT (TDOCT)
· Frequency Domain OCT (FD-OCT)
· Spatial Encoded Frequency Domain OCT
· Fourier Domain OCT (FDOCT)
· Others
Market Insight, by Type
· Catheter based OCT Devices
· Doppler OCT Devices
· Handheld OCT Devices
· Tabletop OCT Devices
Market Insight, by Application
· Ophthalmology
· Cardiovascular
· Oncology
· Dermatology
· Others
Market Insight, by Region
· North America
o U.S.
o Canada
o Rest of North America
· Europe
o Germany
o UK
o France
o Italy
o Spain
o Rest of Europe
· APAC
o China
o Japan
o India
o Rest of APAC
· Rest of the World
Top Company Profiles
· Agfa-Gevaert Group
· Carl Zeiss AG
· Heidelberg Engineering GmbH
· Michelson Diagnostics Ltd
· Novacam Technologies Inc.
· OPTOPOL Technology Sp. z o.o.
· Topcon Corporation
· Thorlabs, Inc
· NIDEK CO., LTD
· Canon Inc
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