OCT Market Report

OCT Market Report

September 18, 2020

Source: Marketscope

Recent innovations in optical coherence tomography (OCT) technology—such as systems that are combined with fundus imagers—and software advancements, including OCT angiography, are growing in popularity. At the same time promising new technologies on the horizon, such as at-home OCT devices, are gaining interest in the midst of a global health care crisis.

Eye care professionals employ OCTs as a tool to help understand, diagnose, and stage retinal conditions. The ophthalmic diagnostic market as a whole is worth $3.2 billion, with OCT accounting for 18 percent.

Market Scope estimates that the OCT market will generate $577 million in total manufacturer revenue in 2020, and the market will grow to $743 million by 2025 at a compound annual growth rate of 5.2 percent. While the ophthalmic market reels from COVID-19’s impact on elective procedures, OCTs continue to play an integral role in managing patients’ urgent and emergent conditions, and thus are somewhat insulated from the effects of the pandemic.

Market Scope expects much of the market’s growth to come from software upgrades and demand for newer devices with more features to replace those currently in use, as well as expansion of eye care services in developing markets and a drive toward remote viewing and analysis of images.

Technology ranges widely, from basic OCT units used mainly as screeners, to top-of-the-line microscopes that incorporate advanced OCT technology for use intraoperatively. Market Scope’s “2020 Optical Coherence Tomography Market Report” examines each category, as well as the leading models in use today.

The report divides the market into five segments: basic OCTs, advanced OCTs, combination OCT/fundus imaging, combination OCT/SLO, and intraoperative OCT.

Combo OCT/fundus systems make up the largest of these segments, as manufacturers incorporate ever-changing technology, such as higher speeds and image resolution, in compact tabletop units, along with the functionality of fundus imaging and angiography. These are increasingly popular in optometry offices because OCTA applications give a better view of vasculature without the use of intravenous dyes.

Advanced OCTs are also a popular segment, as units get smaller and manufacturers increase speed and functionality.

The US market represents nearly a third of global market revenue, largely due to lucrative markets for retinal evaluation and intraoperative surgical equipment. Market Scope anticipates faster growth over the next five years in emerging markets, including China and India, where the firm expects to see a slight increase in their share of overall revenue.

Market Scope’s 2020 Optical Coherence Tomography Market Reportwas published in August.