Global optical coherence tomography market is expected to register a 10.9% CAGR over the forecast period. Moreover, the global optical coherence tomography market is anticipated to account for exponential revenue of USD 1.8 Billion during the forecast period i.e. 2017-2024. Moreover, increasing government spending on the development of healthcare industry on the back of positive GDP figure is expected to propel the growth of optical coherence tomography market.
The hospitals and clinics segment by end user is believed to seize a notable CAGR by the end of 2024. Moreover, rising number of hospitals in developing region have augmented the demand for advanced imaging product to rectify the various ophthalmic diseases is believed to be the dynamic factor behind the rapid growth of hospitals and clinics segment. In the regional platform, North America optical coherence tomography market is anticipated to account for noteworthy sales by 2024. Further, North America optical coherence tomography market is predicted to mask an 8.5% CAGR during the forecast period. U.S. is the major contributor in the market of optical coherence tomography in this region. Apart from this, Asia-Pacific region is believed to be the fastest growing optical coherence tomography market due to presence large geriatric population.
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The global optical coherence tomography market is segmented into application such as ophthalmology, dermatology, oncology, cardiovascular, dentistry and cancer detection. Among these segments, ophthalmology segment is expected to occupy the top position in overall optical coherence tomography market. Further, the growth of this segment is attributed to various factors such as increasing number of patients affected with eyes disorders such as age-related macular degeneration, diabetic retinopathy, macular edema and others. Apart from this, dermatology segment mask an outstanding CAGR in near future owing to growing skin disorders and continuous technological advancement in the field of optical coherence tomography.
Technological Advancement in Imaging Devices
Rigorous research and development activities by major key vendors in the field of optical coherence tomography on the back positive support from government is anticipated to be the dynamic factor behind the rapid growth of optical coherence tomography market. Further, growing number of population touched with eye disorders have fuel the demand for advanced imaging diagnostic devices for the treatment which is expected to propel the market of optical coherence tomography by 2024.
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Increasing Prevalence of Chronic Diseases
Rising number of population all across the globe coupled with rising occurrence of chronic diseases among the population is expected to augment the demand for optical coherence tomography for the treatment. Furthermore, growing demand for accurate diagnosis for eyes diseases is also anticipated to bolster the growth of optical coherence tomography market over the forecast period.
On the contrary, high cost of optical coherence tomography is expected to hamper the growth of optical coherence tomography market.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global optical coherence tomography market which includes company profiling of Carl Zeiss Meditec AG, Heidelberg Engineering GmbH, Agfa Healthcare., Topcon Medical Systems Inc., Imalux Corporation, Thorlabs Inc., Novacam Technologies Inc., Michelson Diagnostics Ltd, Optovue, Inc. and OPTOPOL Technology S.A. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global optical coherence tomography market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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