Optical Coherence Tomography for Ophthalmology Market by Product, End-user, and Geography - Forecast and Analysis 2021-2025

  • Published: Feb 2021
  • Pages: 120
  • SKU: IRTNTR40452
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The optical coherence tomography (OCT) for ophthalmology market size has the potential to grow by USD 270.86 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 7.40%. 

This report provides a detailed analysis of the market by product (conventional OCT systems and hand-held and integrated OCT systems), end-user (hospitals and clinics and ASCs), geography (Asia, Europe, North America, and ROW), and key vendors. 

Market Overview

Optical-Coherence-Tomography-For-Ophthalmology-Market-Market-Size-2020-2025

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Market Competitive Analysis

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

  • Canon Inc.
  • Carl Zeiss AG
  • Danaher Corp.
  • Heidelberg Engineering GmbH
  • Johnson & Johnson
  • NIDEK Co. Ltd.
  • Optovue Inc.
  • Thorlabs Inc.
  • Tomey Corp.
  • TOPCON Corp.

 

The OCT for ophthalmology market is concentrated and the vendors are deploying growth strategies such as product development and expanding their reach to other regions to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as increasing incidences of ocular diseases to achieve growth opportunities. However, factors such as limitations of ophthalmic OCT will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the optical coherence tomography for ophthalmology market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

This optical coherence tomography for ophthalmology market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities. 

Optical Coherence Tomography for Ophthalmology Market: Key Drivers and Trends

  • The increasing incidences of ocular diseases will be one of the primary factors driving optical coherence tomography for ophthalmology market growth.
  • There is an increasing incidence of ocular diseases such as diabetic eye disease, glaucoma, diabetic retinopathy, cataract, corneal scarring, AMD, retinitis, refractive error, keratitis, and blepharitis, which is significantly driving the sales of OCT devices.
  • Diabetic retinopathy and AMD are the primary age-related eye diseases that cause loss of vision and blindness, driving the demand for OCT for ophthalmology diagnosis.
  • The growing focus towards adaptive optics will drive market growth during the forecast period.
  • OCT imaging is often combined with corrective optics techniques like adaptive optics to improve the transverse resolution of the imaging system.
  • This combined technique improves retinal imaging capability and enhances transverse resolution.
  • Manufacturers are focusing on developing OCT toward adaptive optics as it improves the transverse resolution of ophthalmoscopes to foster in vivo imaging of the retina at the microscopic level.

 

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Optical Coherence Tomography for Ophthalmology Market: Segmentation by Geography

Optical-Coherence-Tomography-For-Ophthalmology-Market-Market-Share-by-Region-2020-2025

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38% of the market’s growth will originate from North America during the forecast period. The US is a key market for optical coherence tomography for ophthalmology in North America. However, market growth in North America will be slower than the growth of the market in other regions.

To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

Optical Coherence Tomography for Ophthalmology Market: Segmentation by Product

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Factors such as increasing demand for retinal imaging for cataract surgeries, the presence of reimbursement, increasing number of product approvals by regulatory authorities, and M&A are boosting the market growth in the conventional OCT systems segment. 

Fetch actionable market insights on post COVID19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the optical coherence tomography for ophthalmology market size.

 

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Optical Coherence Tomography for Ophthalmology Market: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive optical coherence tomography for ophthalmology market growth during the next five years
  • Precise estimation of the OCT for ophthalmology market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the optical coherence tomography for ophthalmology industry across Asia, Europe, North America, and ROW
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of optical coherence tomography for ophthalmology market vendors

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Optical Coherence Tomography For Ophthalmology Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 7%

Market growth 2021-2025

$ 270.86 million

Market structure

Concentrated

YoY growth (%)

6.90

Regional analysis

North America, Europe, Asia, and ROW

Performing market contribution

North America at 38%

Key consumer countries

US, Germany, France, Japan, UK, and China

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Canon Inc., Carl Zeiss AG, Danaher Corp., Heidelberg Engineering GmbH, Johnson & Johnson, NIDEK Co. Ltd., Optovue Inc., Thorlabs Inc., Tomey Corp., and TOPCON Corp.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2019
    • Market outlook: Forecast for 2019 - 2024

    Five Forces Analysis

    • Five Forces Summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product placement
    • Conventional OCT systems - Market size and forecast 2019-2024
    • Hand-held and integrated OCT systems - Market size and forecast 2019-2024
    • Market opportunity by Product

    Market Segmentation by End-user

    • Hospitals and clinics - Market size and forecast 2019-2024
    • ASCs - Market size and forecast 2019-2024
    • Physicians' offices - Market size and forecast 2019-2024

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • North America - Market size and forecast 2019-2024
      • Europe - Market size and forecast 2019-2024
      • Asia - Market size and forecast 2019-2024
      • ROW - Market size and forecast 2019-2024
      • Key leading countries
      • Market opportunity by geography
      • Volume driver - Demand led growth
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Abbott Laboratories
      • Canon Inc.
      • Carl Zeiss Meditec AG
      • Danaher Corp.
      • Heidelberg Engineering GmbH
      • NIDEK Co. Ltd.
      • Optovue Inc.
      • Thorlabs Inc.
      • Tomey Corp.
      • Topcon Corp.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
      Get your FREE sample now!
      The optical coherence tomography for ophthalmology market growth will increase by $302.30 million during 2019-2024.
      The optical coherence tomography for ophthalmology market is expected to grow at a CAGR of 7.68% during 2019-2024.
      Technavio has segmented the optical coherence tomography for ophthalmology market by product (Conventional OCT systems and Hand-held and integrated OCT systems) and geographic (North America, Europe, Asia, and ROW).
      Abbott Laboratories, Canon Inc., Carl Zeiss Meditec AG, Danaher Corp., Heidelberg Engineering GmbH, NIDEK Co. Ltd., Optovue Inc., Thorlabs Inc., Tomey Corp., Topcon Corp. are a few of the key vendors in the optical coherence tomography for ophthalmology market.
      North America will register the highest growth rate of 36.88% among the other regions. Therefore, the optical coherence tomography for ophthalmology market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the optical coherence tomography for ophthalmology market growth are:
      • Increasing incidences of ocular diseases
      • Growing focus toward adaptive optics
      The optical coherence tomography for ophthalmology market vendors should focus on grabbing business opportunities from the conventional oct systems segment as it accounted for the largest market share in the base year.
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