Optical Coherence Tomography for Ophthalmology Market by Product, End-user, and Geography - Forecast and Analysis 2020-2024
- Published: Feb 2021
- Pages: 120
- SKU: IRTNTR40452
Enjoy complimentary customisation on priority with our Enterprise License!
Quick and easy buy and download option
Flexible option - Complimentary customization included
The optical coherence tomography for ophthalmology market share is expected to increase by USD 302.3 millon from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 7.68%.
This optical coherence tomography for ophthalmology market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers optical coherence tomography for ophthalmology market segmentations by product (conventional oct systems and Hand-held and integrated oct systems), end-user (hospitals and clinics, ASCs, and physicians' offices), and geography (North America, Europe, Asia, and ROW). The optical coherence tomography for ophthalmology market report also offers information on several market vendors, including Abbott Laboratories, Canon Inc., Carl Zeiss Meditec AG, Danaher Corp., Heidelberg Engineering GmbH, NIDEK Co. Ltd., Optovue Inc., Thorlabs Inc., Tomey Corp., and Topcon Corp. among others.
What will the Optical Coherence Tomography For Ophthalmology Market Size be During the Forecast Period?
Download the Free Report Sample to Unlock the Optical Coherence Tomography for Ophthalmology Market Size for the Forecast Period and Other Important Statistics
Optical Coherence Tomography For Ophthalmology Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The increasing incidences of ocular diseases is notably driving the optical coherence tomography for ophthalmology market growth, although factors such as high cost associated with oct may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the optical coherence tomography for ophthalmology industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Optical Coherence Tomography For Ophthalmology Market Driver
The increasing incidences of ocular diseases is one of the key factors driving the growth of the global optical coherence tomography for the ophthalmology market. The VISION 2020 is a global initiative by the World Health Organization (WHO) and the International Agency for the Prevention of Blindness (IAPB) aimed to reduce avoidable blindness caused due to ocular diseases such as cataracts glaucoma, corneal scarring, including trachoma, and diabetic retinopathy. Moreover, WHO, in partnership with other United Nations (UN) agencies, governments, non-governmental organizations (NGOs), and the corporate sector, is aiming to achieve a common goal of eliminating avoidable blindness. The increased awareness about various ocular diseases is expected to drive the growth of OCT devices for ophthalmology care. Such initiatives increase awareness about blindness and develop the focus of various healthcare institutions toward preventive, diagnostic care for blindness for which OCT devices can be used. Moreover, the increasing incidence of ocular diseases is significantly driving the growth of OCT for the ophthalmology market during the forecast period.
Key Optical Coherence Tomography For Ophthalmology Market Trend
The growing focus on adaptive optics will fuel the global optical coherence tomography for ophthalmology market growth. Adaptive optics techniques can be combined with fundus photography, scanning laser ophthalmoscopy, and OCT. However, originally adaptive technology was used in the ground-based telescope in the field of astronomy. This technique was later adopted in many other fields, including ophthalmology. There is a growing focus of manufacturers on developing OCT for ophthalmology toward adaptive optics as it improves the transverse resolution of ophthalmoscopes to foster in vivo imaging of the retina at the microscopic level. However, various manufacturers involved in developing OCT systems for ophthalmology also develop adaptive optics kits. For instance, companies like Thorlabs, Carl Zeiss Meditec, and Heidelberg Engineering use adaptive optics imaging in OCT systems developed by them. Thorlabs develops adaptive optics kits that enable easy integration of wavefront correction into imaging systems. Increasing focus on key and prominent players toward adaptive optics is an emerging trend witnessed in the OCT for the ophthalmology market.
Key Optical Coherence Tomography For Ophthalmology Market Challenge
The high cost associated with OCT is a major challenge for the global optical coherence tomography for ophthalmology market growth. The high price of OCT systems and excessive costs associated with their installation are increasing the cost burden for the end-users. The end-users such as hospitals and clinics, ASCs, and physicians' offices have a limited budget range. Owing to the high cost of OCT systems and installation costs, some end-users are not able to accommodate their budget allocation, which is affecting the adoption. Moreover, the estimated cost of OCT systems, which are used for ophthalmology applications, ranges between $68,000 and $370,000. Installation and service-related costs can increase the cost burden further. However, the initial investment and installation cost restrain the adoption of these devices in the primary care facilities and small- and medium-sized hospitals of developing countries such as Mexico and South Africa, where hospital infrastructure is in the developmental stage. Furthermore, advancements in OCT technology attribute to the increased cost of recently developed OCT systems in the market and significantly restrains the growth of OCT devices during the forecast period.
This optical coherence tomography for ophthalmology market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.
Parent Market Analysis
Technavio categorizes the global optical coherence tomography for the ophthalmology market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the optical coherence tomography for ophthalmology market during the forecast period.
Who are the Major Optical Coherence Tomography For Ophthalmology Market Vendors?
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Abbott Laboratories
- Canon Inc.
- Carl Zeiss Meditec AG
- Danaher Corp.
- Heidelberg Engineering GmbH
- NIDEK Co. Ltd.
- Optovue Inc.
- Thorlabs Inc.
- Tomey Corp.
- Topcon Corp.
This statistical study of the optical coherence tomography for ophthalmology market encompasses successful business strategies deployed by the key vendors. The optical coherence tomography for ophthalmology market is concentrated and the vendors are deploying growth strategies such as owing to innovations and competitive pricing with a strong network of distributors and suppliers to compete in the market.
Product Insights and News
- Abbott Laboratories - This system comes with a LIQUID OPTICS Interface, and an integrated 3D Full Volume OCT image-guidance system.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The optical coherence tomography for ophthalmology market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Optical Coherence Tomography For Ophthalmology Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the optical coherence tomography for ophthalmology market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global healthcare equipment market includes the following core components:
- Inbound logistics
- Outbound logistics
- Marketing and sales
- Support activities
The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.
Which are the Key Regions for Optical Coherence Tomography For Ophthalmology Market?
For more insights on the market share of various regions Request for a FREE sample now!
41% of the market's growth will originate from North America during the forecast period. The US is the key market for optical coherence tomography for ophthalmology market in North America. Market growth in this region will be slower than the growth of the market in regions.
The increasing incidences of ocular diseases will facilitate the optical coherence tomography for ophthalmology market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
Considering COVID-19 is closely associated with the healthcare sector, the industries within this sector, such as equipment, supplies, and life science services, helped the world deal with the pandemic, which eventually supported their revenue growth in 2020 compared to other industries. However, in 2021, the initiation of large-scale vaccination drives?has lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Such factors are expected to drive the market during the forecast period.
What are the Revenue-generating Product Segments in the Optical Coherence Tomography For Ophthalmology Market?
To gain further insights on the market contribution of various segments Request for a FREE sample
The optical coherence tomography for ophthalmology market share growth by the hand-held and integrated OCT systems segment will be significant during the forecast period. The increasing number of pediatric ophthalmology cases owing to disorders in the optic nerve and vitreous in the premature infant is driving the market. Retinopathy of prematurity (ROP) is a common issue in premature infants, which is diagnosed by using hand-held and integrated OCT systems.
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 and actionable market insights on post COVID-19 impact on each segment.
Optical Coherence Tomography For Ophthalmology Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 7.68%
Market growth 2020-2024
$ 302.3 million
YoY growth (%)
North America, Europe, Asia, and ROW
Performing market contribution
North America at 41%
Key consumer countries
US, Germany, France, and Japan
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
Abbott Laboratories, Canon Inc., Carl Zeiss Meditec AG, Danaher Corp., Heidelberg Engineering GmbH, NIDEK Co. Ltd., Optovue Inc., Thorlabs Inc., Tomey Corp., and Topcon Corp.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
What are the Key Data Covered in this Optical Coherence Tomography For Ophthalmology Market Report?
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive optical coherence tomography for ophthalmology market growth during the next five years
- Precise estimation of the optical coherence tomography 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 market industry across North America, Europe, Asia, 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
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- Exhibit 02: Market characteristics
- 2.2 Value chain analysis
- Exhibit 03: Value chain analysis: Healthcare equipment market
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.3 Market size 2020
- 3.4 Market outlook: Forecast for 2020 - 2025
- Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
- Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 08: Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.7 Market condition
- Exhibit 14: Market condition - Five forces 2020
5 Market Segmentation by Product
- 5.1 Market segments
- Exhibit 15: Product - Market share 2020-2025 (%)
- 5.2 Comparison by Product
- Exhibit 16: Comparison by Product
- 5.3 Conventional OCT systems - Market size and forecast 2020-2025
- Exhibit 17: Conventional OCT systems - Market size and forecast 2020-2025 ($ million)
- Exhibit 18: Conventional OCT systems - Year-over-year growth 2020-2025 (%)
- 5.4 Hand-held and integrated OCT systems - Market size and forecast 2020-2025
- Exhibit 19: Hand-held and integrated OCT systems - Market size and forecast 2020-2025 ($ million)
- Exhibit 20: Hand-held and integrated OCT systems - Year-over-year growth 2020-2025 (%)
- 5.5 Market opportunity by Product
- Exhibit 21: Market opportunity by Product
6 Segmentation by End-User
- 6.1 Segmentation by End-User
7 Customer landscape
- 7.1 Overview
8 Geographic Landscape
- 8.1 Geographic segmentation
- 8.2 Geographic comparison
- 8.3 North America - Market size and forecast 2020-2025
- 8.4 Europe - Market size and forecast 2020-2025
- 8.5 Asia - Market size and forecast 2020-2025
- 8.6 ROW - Market size and forecast 2020-2025
- 8.7 Key leading countries
- 8.8 Market opportunity by geography
9 Drivers, Challenges, and Trends
- 9.1 Market drivers
- 9.2 Market challenges
- 9.3 Market trends
10 Vendor Landscape
- 10.1 Overview
- 10.2 Landscape disruption
11 Vendor Analysis
- 11.1 Vendors covered
- 11.2 Market positioning of vendors
- 11.3 Canon Inc.
- 11.4 Carl Zeiss AG
- 11.5 Danaher Corp.
- 11.6 Heidelberg Engineering GmbH
- 11.7 Johnson & Johnson
- 11.8 NIDEK Co. Ltd.
- 11.9 Optovue Inc.
- 11.10 Thorlabs Inc.
- 11.11 Tomey Corp.
- 11.12 TOPCON Corp.
- 12.1 Scope of the report
- 12.2 Currency conversion rates for US$
- 12.3 Research methodology
- 12.4 List of abbreviations
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.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
Get your sample now!
Frequently Asked Questions?
- Increasing incidences of ocular diseases
- Growing focus toward adaptive optics
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
Why should you prefer Technavio's market insights report?
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Quick and easy buy and download option
Flexible option - Complimentary customization included
Get the report (PDF) sent to your email within minutes.
Subscribe & Save
Get lifetime access to our
Did you know?
Did you know?
Did you know?
Customized Report as per your Business Needs
- Our analysts will work directly with you and understand your needs
- Get data on specified regions or segments, competitor and Vendors
- Data will be formatted and presented as per your requirements
- We offer $1000 worth of FREE customization at the time of purchase
Let us help you make report more suited to your requirements.
- Get a competitive breakdown as per your niche industry
- Customize the data with various metrics that meet your business prerequisite
- Understand Revenue Sources, Customers and many more
- Details on Market Share
- These customizations are done in a short amount of time by our analysts and industry experts