In a recent published report, Kenneth Research has updated the market report for Optical Coherence Tomography (OCT) Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Optical Coherence Tomography (OCT) Market products.
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Kenneth Research has recently added a report titled Optical Coherence Tomography (OCT) Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021 2030. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth.
According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
The Optical Coherence Tomography (OCT) Market report provides an in-depth analysis of the Healthcare & Pharmaceuticals during the forecast period 2017-2026 which consists of the industry overview including the market size, volume, growth rate and recent trends and developments in the market based on historical and current data. The report covers detailed information about the key players, market segments, growth drivers and restraints in the industry. The report delivers an insight into the Optical Coherence Tomography (OCT) Market which allows our clients to make informed decisions regarding the growth of their businesses.The Global Optical Coherence Tomography (OCT) Market Size is anticipated to reach over USD 2,179.75 Million by 2026
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according to a new research published by Polaris Market ResearchOptical Coherence Tomography (OCT) methods are operative optical diagnostics techniques that cast a 2D as well as the 3D outlook of the retina to help ophthalmological assessments and treatments. The Optical Coherence Tomography (OCT) Market is basically impelled by the differential need for these methods across several areas of life science and healthcare. The OCT market has been emphasized by the advancement in technologies, furthered by the increasing significance of medical applications in the current scenario.
The range of Optical Coherence Tomography is not limited to ophthalmology and has extended across other medical application such as nephrology, dermatology, and oncology. This factor has amplified the growth scenarios of the Optical Coherence Tomography (OCT) which is anticipated to show intense growth in the forecast period. The escalation of pathology has also become a devoted contributor to market growth as OCT methods could be employed in the pensive study of micro-level diseases. Furthermore, the non-intrusive nature of OCT has made this technique a prime choice of the medical community for ophthalmic imaging.
The Optical Coherence Tomography (OCT) market has extended its area to the study of ailments such as cardiovascular disruptions, diabetes, esophageal problems, non-melanoma skin cancer, and prostate cancer. This is a significant standpoint for the market as the increasing occurrence of such disorders would create a widespread demand for OCT products. In addition, the emerging economies such as China, Japan, and India have seen operational variations in their healthcare sector which is making developing progress in that regions. This proliferates the demand for OCT devices further propelling the market growth.
The global Optical Coherence Tomography (OCT) Market is segmented on the basis of technology, type, application, and geography.
On the basis of technology, the global Optical Coherence Tomography (OCT) Market is segmented into Time Domain Optical Coherence Tomography (TDOCT), Frequency Domain Optical Coherence Tomography (FD-OCT), and Spatially Encoded Frequency Domain Optical Coherence Tomography. The Spatially Encoded Frequency Domain Optical Coherence Tomography is further categorized into Spectral Domain Optical Coherence Tomography (SDOCT) and Fourier Domain Optical Coherence Tomography (FDOCT).
On the basis of type, the global Optical Coherence Tomography (OCT) Market is segmented into Catheter-based OCT devices, Doppler OCT devices, Handheld OCT devices, and Tabletop OCT devices. In 2017, the handheld type segment was estimated to dominate the market. The dominance is attributed to the higher product penetration in developed regions such as U.S., U.K., Germany, and Brazil.
On the basis of application, the global Optical Coherence Tomography (OCT) Market is segmented into Ophthalmology, Cardiovascular, Oncology, Dermatology, and others. In 2017, ophthalmology segment is estimated to dominate the market growth. Introduction of higher performing devices with accurateness, improved performance, and easiness of use coupled with the supplementing occurrences of choroidal and retinal disorders is the vigorous impact rendering factor enhancing the market growth.
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Some major key players in global Optical Coherence Tomography (OCT) Market include Agfa Healthcare, Carl Zeiss Meditec AG, Heidelberg Engineering GmbH, Imalux Corporation, Michelson Diagnostics, Novacam Technologies Inc., OPTOPOL Technology S.A., Topcon Medical Systems Inc. and Thorlabs Inc. among others.
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