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Optical Coherence Tomography Market Size, Trend & Share 2033
The Global Optical Coherence Tomography (OCT) Industry has achieved a significant milestone, with a market size of US$ 1,311.70 million in 2023. A promising future lies ahead as the OCT market is expected to soar to US$ 3,250.70 million by 2033, driven by a robust compound annual growth rate (CAGR) of 9.5% from 2023 to 2033.
The burgeoning demand for non-invasive diagnostic methods in the medical field is a primary driver behind this remarkable growth. Optical coherence tomography’s ability to provide precise, high-resolution images without invasive procedures is garnering increasing favor among both patients and medical professionals. This rise in adoption is further fueled by OCT’s expanding applications in fields such as dermatology, cardiology, and ophthalmology.
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Development of advanced OCT imaging systems coupled with increasing government & private organizations initiatives for eye care programs across the globe are propelling the adoption of OCT imaging systems.
Growing awareness and increasing innovation for the advanced OCT devices for the treatment of skin cancer and eye diseases have urged the manufacturers to incorporate real-time data for better outcomes, expanding their existing product ranges.
Based on the aforementioned factors, the OCT market is slated to expand at a robust pace of over 6.7% CAGR during the assessment period of 2021 and 2031.
Key Takeaways from FMI’s Optical Coherence Tomography Industry Study
Hospitals are anticipated emerge as primary end users of optical coherence tomography industry, accounting for leading market share
Preference for spectral domain-OCT will be higher as compared to swept source-OCT over the forecast period
Increasing application of OCT in ophthalmology is expected to drive sales through 2031
Germany and the U.K. will lead the Europe’s optical coherence tomography industry on the back of rising cases of eye disorders across the region
Japan is anticipated to emerge as a lucrative market backed by the rising development of advanced OCT imaging systems within healthcare sector
China is anticipated to lead the East Asia market during the forecast period, accounting for over 4.6% market sales
The U.S. is estimated to be the largest market for optical coherence tomography industry attributed to be growing prevalence of eye related disorders
“Key players are increasing research and development activities for the development of advanced OCT imaging system for the early detection & treatment of eye-related disorders. This, in turn, is likely to omprovegrowth opportunities for the market players over the coming years,” says the FMI analyst.
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Optical Coherence Tomography Industry Competitive Landscape
Future Market Insights, in its updated report, have profiled prominent players operating in optical coherence tomography industry which include Leica Microsystems, Optovue Inc., Carl Zeiss Meditec AG, Santec Corporation, Heidelberg Engineering GmbH, Optopol Technology SP Z.O.O., Topcon Corporation, Michelson Diagnostic Ltd., Tomophase Inc., Moptim Imaging Technique, NIDEK Co. Ltd., and Sonostar Technologies Co. Ltd among others.
Optical coherence tomography systems manufacturers are actively focusing on expanding their product portfolios to improve their revenue generation.
Incorporation of advanced technology combined with the upgradation of its existing range of products is also one of the core strategies of market players to maintain their position in the industry.
The global optical coherence tomography industry is dominated by top tier-1 market players that include Leica Microsystem (Sub. Danaher), Optovue Inc., and Zeiss Group (Carl Zeiss Meditec AG).
Targeted mergers and collaborations with top distribution channel partners is anticipated to be the key strategy to maintain their top position in the industry. Around 20% to 25% of global market revenue is contributed by the tier-1 players over the forecast period.
New product launches with the expansion of their existing product range is one of the common market strategy for the key players. For instance:
In March 2021, Premier Medical Imaging AI Inc., a medical technology company focusing to transform cancer surgery with ultra-high resolution, announced the 510 (k) clearance for its Perimeter’s Optical Coherence Tomography imaging system (v2.1) from the U.S. Food & Drug Administration (FDA), designed to examine tissue microstructures during surgical procedures.
In January 2021, Notal Vision announced the launch of its first ‘US Home-Based’ optical coherence tomography platform which was patient self-operated.
More Insights on the Global Optical Coherence Tomography Industry
Future Market Insights, in its latest report, offers an incisive coverage on the global optical coherence tomography market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is classified on the basis of product type (spectral domain-OCT, swept source-OCT, and others), application type (ophthalmology, dermatology, cardiovascular, dental, and others), and end user (hospitals, ophthalmology clinics, dermatology clinics, dental clinics, ambulatory surgical centers, and others) across seven major regions (North America, Latin America, Eastern Europe, Asia Pacific excluding Japan, Western Europe, Japan and Middle East & Africa)
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Optical Coherence Tomography Industry by Category
By Product Type:
Spectral Domain-OCT
Swept Source-OCT
Others
By End User:
Hospitals
Ophthalmology Clinics
Dermatology Clinics
Dental Clinics
Ambulatory Surgical Centers
Others
By Application:
Ophthalmology
Dermatology
Cardiovascular
Dental
Others
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Single Cell Analysis System Market Size & Outlook 2033 | FMI
The Global Single Cell Analysis Systems Industry is gearing up for a decade of unparalleled growth, fueled by an escalating demand for predictive testing, cancer diagnostics, stem cell research, and single-cell genomics. Recent insights from industry experts at Future Market Insights (FMI) reveal a staggering leap in market value, soaring from US$ 3.2 Billion in 2022 to an impressive US$ 7.2 Billion by 2033. This growth trajectory is underpinned by a robust Compound Annual Growth Rate (CAGR) of 7.8% set to persist from 2023 onwards.
A driving force behind this exponential growth is the intensified focus on drug discovery and development within the pharmaceutical and biotechnology sectors. The relentless pursuit of groundbreaking advancements in medical science has triggered an unprecedented demand for cutting-edge tools and technologies. Single-cell analysis systems emerge as pivotal instruments, standing at the forefront to meet this demand. These systems empower researchers to delve into the intricate world of individual cells, unraveling the subtle nuances of cellular behavior, functions, and interactions.
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As drug discovery and development continue to be a priority for the pharmaceutical industry, the demand for single-cell analysis systems is expected to grow. These systems provide a powerful toolset for researchers to explore the intricacies of cellular biology, enabling them to make breakthroughs in understanding diseases and developing innovative treatments.
The utilization of various technologies, such as manual, semi-automated, and automated systems, for single-cell analysis, serves as a significant driver in the market. These diverse technological approaches cater to the different needs and preferences of researchers and scientists in conducting their studies. The availability of multiple options allows for flexibility and customization in single-cell analysis, enabling researchers to choose the most suitable system for their specific experimental requirements. This market driver reflects the importance of offering a range of technologies to accommodate the diverse needs of researchers and enhance the efficiency and accuracy of single-cell analysis.
Key Takeaways from this Global Single Cell Analysis System Industry Study:
In the single-cell analysis market, consumables take the lead as the top product category, accounting for a 49.3% market value share in 2022. This segment drives market growth due to its widespread utilization in diagnostic testing applications.
By system type, the automated cell analysis system holds the leading position with a market share of 42.0% in the single-cell analysis market in 2022, providing advanced and efficient solutions for studying individual cells.
By application, receptor functional analysis accounts for 14.3% of the total market share in 2022.
North America is the leading market by 36.9% market value share in 2022 in the single-cell analysis market, characterized by its strong presence of key market players, well-established healthcare infrastructure, and significant investments in research and development.
“The rapid growth of the market is driven by the increasing demand for enhanced diagnostics and research in fields like cancer and stem cell studies. This demand creates significant opportunities for innovation and global expansion in the market,” – says an analyst of Future Market Insights (FMI).
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Global Single Cell Analysis System Industry Competition Pointers:
The omics field has started to rapidly evolve due to the advancement of technology and artificial intelligence intervention.
In May 2023, Deepcell introduces REM-I, an AI-powered single-cell analysis platform that enables scalable imaging, high-dimensional analysis, and cell sorting for unprecedented insights into cell biology and morpholomics.
In February 2023, Max Read Kits for single-cell applications are now available from Singular Genomics. The Max Read Kits are intended for use with the company’s G4 Sequencing Platform for single-cell applications.
Global Single Cell Analysis System Industry Key Players are:
10x Genomics
Fluidigm Corporation
Bio-Rad Laboratories
Illumina
Takara Bio
Agilent Technologies
Mission Bio
NanoString Technologies
Thermo Fisher Scientific
Miltenyi Biotec GmbH
BGI Group
Genotypic Technology Pvt. Ltd.
SciGenom Labs Pvt. Ltd.
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Key Segments Covered in the Global Single Cell Analysis System Industry:
By Product:
Instruments
Flow Cytometers
Polymerase Chain Reaction
Mass Spectroscopy
Next Generation Sequencing Systems
High Content Screening Systems
Automated Cell Counters
Microscopes
Cell Microarrays
Hemocytometers
Others
Consumables
Softwares
By System Type:
Manual Single Cell Analysis System
Semi-Automated Cell Analysis System
Automated Cell Analysis System
By Application:
Viral studies
Receptor Functional Analysis
Immunocytochemistry
Apoptosis
Pathogen Detection
Compound Mediated Cytotoxicity
Cell Viability and Proliferation
Stem Cell Monitoring
Gene expression
Cell Culture Monitoring
Angiogenesis
Cell Cycle Analysis
Other Application
Drug Screening
By Technology:
Impedance-Based Analysis
Biosensors and Fluorescent Probes
Fluorescence Microscopy
Time-lapse microscopy
Microfluidics-Based Systems
Others
Confocal Microscopy
Total Internal Reflection Fluorescence (TIRF) Microscopy
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