May 22, 2019
WELLESLEY, Mass., May 22, 2019–Technological advancements and strong investment in research and development activities are factors helping to drive steady growth in the global optical coherence tomography market, according to a report by BCC Research, “Global Markets and Technologies for Optical Coherence Tomography.”
The market expects to see a compound annual growth rate (CAGR) of 8.8% through 2023, when it could be worth $1.5 billion.
“Growth in FD-OCT technologies is evident from the diverse acceptance of OCT products in areas like cardiology, oncology, ophthalmology, dentistry and others,” the report’s authors note. “The advantages of FD-OCT, such as speed of acquisition, reduced motion artifacting, two to three times better sensitivity, and speeds 50 to 100 times faster than those of TD-OCT, all lead to better imaging technique and thus a higher market value of the FD-OCT systems.”
High Equipment Costs, Skilled Technicians Shortage Impacting Growth
Factors restraining the market include the high cost of equipment and a lack of skilled technicians, the market adds. Several current OCT devices cost up to $150,000, putting them out of reach of many professionals. Meanwhile, there is a lack of technicians in developing nations who are able to operate these complex systems, particularly in South America, the Middle East, and Africa. Both factors are slowing market growth, particularly in developing nations.
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Global Markets and Technologies for Optical Coherence Tomography (OCT)( HLC097C )
Publish Date: Apr 2019
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