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Optical Coherence Tomography Market In-depth Analysis and Segments Forecast Report, 2030

The global optical coherence tomography market size is expected to reach USD 5.28 billion by 2030, registering a CAGR of 15.41%, according to a new report by Grand View Research, Inc. Rising demand for early diagnosis of the disease, constant innovation and development of newer technologies, higher demand from the new biomedical applications, such as drug delivery, and rising prevalence of eye disorders are expected to drive the Optical Coherence Tomography (OCT) industry growth. However, the lack of favorable reimbursement policies and clinical information can hamper the growth in the coming years. The technique has numerous uses in fields like dermatology, cancer, and ophthalmology.

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It is largely used to diagnose and treat disorders affecting the eyes, including glaucoma, conditions affecting the retina, such as central serous retinopathy, Age-related Macular Degeneration (AMD), and vitreous traction. An additional definition of the market includes new technology for high-resolution cross-sectional imaging. It takes a picture with micrometer-resolution using coherent light. Other illnesses like non-melanoma prostate cancer, skin cancer, esophageal issues, cardiovascular disruptions, and diabetes have been added to the market’s reach. A significant increase in demand for the product is anticipated due to the rising incidence of these diseases.

The COVID-19 pandemic has led to a huge surge in demand for medical supplies and respiratory support devices, such as life-support machines, atomizers, oxygen generators, and monitors. OCT angiography is used for the imaging of retinal vascular changes in fully-recovered COVID-19 patients. The key manufacturers of OCT systems are struggling to maintain their production capacity, along with finding newer methods to strengthen their presence, such as mergers & acquisitions and collaborations with suitable market players. These initiatives by key players can be positive for the industry's growth in the coming years.

Competitive Analysis By Major Companies

The market is fragmented with high competition at a global level. Strategic partnerships with local distributors and region-based type variations are some of the initiatives adopted by global players. Major companies are investing in R&D for the development and launch of new products to serve the industry demand. Some of the prominent players in the global optical coherence tomography market include Agfa Healthcare; Carl Zeiss Meditec AG; Heidelberg Engineering GmbH; Imalux Corp.; Michelson Diagnostics; Novacam Technologies, Inc.; OPTOPOL Technology S.A.

For Any Questions or Inquire please visit @: https://www.grandviewresearch.com/industry-analysis/optical-coherence-tomography-oct-market/request/rs5

Grand View Research has segmented the optical coherence tomography market on the basis of technology, type, application, and region

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