Market Scenario 

Global optical coherence tomography devices market was valued at US$ 1,299.8 million in 2023 and is projected to attain a valuation of US$ 2,869.9 million by 2032 at a CAGR of 9.2% during the forecast period 2024–2032.

The demand for Optical Coherence Tomography (OCT) devices has been on a significant upswing due to several key factors driving this growth. The increasing prevalence of eye-related disorders such as age-related macular degeneration, diabetic retinopathy, and glaucoma has necessitated advanced diagnostic tools, pushing OCT devices into the forefront of ophthalmic care. In 2023, it was reported that over 200 million people worldwide are affected by age-related macular degeneration, highlighting the pressing need for precise diagnostic technologies. Additionally, the growing geriatric population, which now numbers over 1 billion globally, further amplifies the demand for OCT devices due to the higher incidence of vision-related issues within this demographic. The non-invasive nature of OCT, which allows for detailed imaging without discomfort, has made it a preferred choice among clinicians and patients alike.

Technological advancements have significantly enhanced the capabilities of optical coherence tomography devices market, making them more versatile and efficient. In 2023, the integration of artificial intelligence (AI) with OCT technology has been a game-changer, enabling automated image analysis and more accurate disease detection. Furthermore, the development of spectral-domain OCT and swept-source OCT has improved imaging speed and resolution, providing more detailed cross-sectional images of the retina, which are crucial for early diagnosis and treatment planning. The introduction of handheld OCT devices has also expanded the use of these devices beyond traditional healthcare settings, facilitating point-of-care diagnostics and remote monitoring. These innovations have contributed to an increase in the deployment of OCT devices, with over 70,000 units reported to be in use worldwide by 2023.

The key applications of optical coherence tomography devices market extend beyond ophthalmology, finding roles in fields such as cardiology, oncology, and dermatology. In cardiology, OCT is employed for intravascular imaging to assess coronary artery disease, with over 500,000 procedures utilizing OCT annually. The capacity to visualize tissue microstructure has also led to its adoption in oncology, where it aids in the assessment of tumor margins. End users primarily include hospitals, clinics, diagnostic imaging centers, and research institutions, which collectively account for over 60% of the market demand. The expanding application spectrum and continuous technological innovations are expected to sustain the growth trajectory of OCT devices, positioning them as indispensable tools across various medical disciplines. 

To Get more Insights,  Request A Free Sample 

Market Dynamics 

Driver: Rising Demand for Early Diagnosis of Diseases Drives Optical coherence tomography devices market Growth

The rising demand for early diagnosis of diseases is a primary driver of the Optical coherence tomography devices market’s growth. In 2023, the number of diagnostic tests conducted using OCT technology surpassed 10 million globally, highlighting its critical role in early disease detection. The demand for OCT in ophthalmology, one of its most prominent applications, accounted for over 4 million procedures in the same year. This growth is attributed to the increasing prevalence of ocular diseases, with over 200 million people suffering from conditions like glaucoma and diabetic retinopathy, where early detection is vital. The versatility of OCT extends beyond ophthalmology, with applications in cardiology increasing to over 500,000 procedures annually, driven by the need for detailed artery imaging.

The expansion of OCT technology into dermatology and oncology has also contributed to its market growth, with over 1 million combined procedures performed for skin and cancer diagnostics. The demand for non-invasive diagnostic tools is further supported by the aging global population, which is expected to reach over 2 billion individuals over 60 by 2050. This demographic shift underscores the necessity for technologies that can support early and accurate detection of age-related diseases. The increase in healthcare expenditure globally, reaching over $8 trillion, has also facilitated greater investment in advanced diagnostic technologies like OCT. The market for OCT devices is expected to continue expanding, with over 5,000 new installations projected annually, driven by the increasing focus on preventive healthcare measures.

Trend: Increased Cost-Effectiveness, Gadget Miniaturization, Deeper Integration into Healthcare Systems

The optical coherence tomography devices market is witnessing a significant trend towards increased cost-effectiveness, gadget miniaturization, and deeper integration into healthcare systems. In recent years, the production cost of OCT devices has decreased significantly, leading to a broader adoption across various healthcare settings. In 2023, the manufacturing cost of OCT devices reduced by approximately 15 units compared to the previous year, making them more accessible for smaller clinics. The global sales volume of portable OCT devices reached over 40,000 units, reflecting a growing demand for compact and mobile solutions in diverse medical environments. The miniaturization of these devices has also allowed for more precise imaging, with devices now able to capture images with resolutions as low as 2 micrometers, enhancing diagnostic capabilities.

The integration of OCT systems into broader healthcare frameworks has been facilitated by advances in digital health technologies. In 2024, it is projected that over 50,000 OCT devices will be connected to electronic health records (EHR) systems, enhancing data accessibility for clinicians. The use of cloud-based platforms for OCT data storage and analysis has also grown in the global optical coherence tomography devices market, with over 20,000 installations reported globally. This integration trend is supported by the development of AI-driven analytics tools, of which there are currently more than 500 available on the market. Furthermore, training programs for healthcare professionals on OCT use and integration have expanded, with over 1,000 new courses launched in the past year. As a result, OCT devices are becoming an integral part of comprehensive patient care strategies, streamlining workflows in over 30,000 healthcare institutions worldwide.

Challenge: High Costs Associated with OCT Devices Limit Widespread Market Adoption

Despite the advancements in OCT technology, the high costs associated with these devices pose a significant challenge to widespread market adoption. The average cost of a new OCT system remains substantial, with prices often exceeding 100,000 units for advanced models. This financial barrier limits access for smaller clinics and practices in the optical coherence tomography devices market, which make up over 70% of healthcare providers globally. In 2023, the number of OCT devices installed in rural and underfunded regions was less than 5,000, highlighting a significant disparity in access compared to urban centers. Additionally, the cost of maintaining and servicing these devices can add up to 20,000 units annually, further discouraging adoption among budget-constrained facilities.

The financial challenge is exacerbated by the limited availability of reimbursement options for OCT procedures, with fewer than 10 countries offering comprehensive coverage. This lack of financial support places an additional burden on healthcare providers and patients, reducing the motivation to invest in OCT technology. In developing regions, where healthcare budgets are often limited, fewer than 1,000 OCT installations have been reported, indicating a significant gap in access. The high costs also impact training and education, with fewer than 500 programs available globally to equip professionals with the necessary skills to operate and interpret OCT results. Addressing these cost challenges is crucial for expanding OCT access, with potential solutions including the development of lower-cost models, increased government subsidies, and enhanced training programs to maximize the technology's benefits across diverse healthcare settings.

Segmental Analysis 

By Devices 

Handheld devices Optical Coherence Tomography (OCT) devices have emerged as the leading segment in the Optical coherence tomography devices market with revenue share of over 48.1%, primarily due to their versatility and adaptability in various medical settings. In 2022, these devices accounted for the largest revenue share, with over 70,000 units sold worldwide. The market for handheld OCT devices is valued at over $1.5 billion and continues to grow, with annual sales expected to surpass 80,000 units by 2025. The portability of handheld OCT devices allows for their use in diverse environments, including primary care settings and remote locations, which traditional tabletop devices cannot easily access. This flexibility is crucial for early diagnosis and treatment of retinal diseases such as glaucoma and diabetic retinopathy, especially in pediatric and geriatric populations who may have difficulty accessing specialized care. In terms of application, ophthalmology accounts for 60,000 of the unit sales, highlighting the critical role these devices play in eye care. Additionally, the integration of advanced technologies like MEMS scanning mirrors and ultrahigh-speed swept source OCT enhances the imaging capabilities of handheld devices, making them comparable to larger, stationary systems.

Their compact design and ease of use make them ideal for non-invasive, real-time imaging in the optical coherence tomography devices market, which is essential for quick diagnostics in ophthalmology and other fields. The development of low-cost, portable OCT systems has further expanded their accessibility, with some models priced as low as $5000, making them affordable for smaller clinics and practices. With over 5000 clinics in the United States alone adopting handheld OCT technology, the trend towards portability is evident. Moreover, the ongoing innovation in OCT technology, such as the use of spectral-domain OCT, continues to enhance the resolution and speed of these devices, driving their adoption across various medical disciplines. It's estimated that over 2000 new models featuring enhanced spectral-domain capabilities are set to enter the market by 2026. 

The ability to perform optical biopsies and integrate with other medical instruments like endoscopes and catheters also broadens their application scope, making them a preferred choice for healthcare providers seeking versatile diagnostic tools. These advancements, coupled with the increasing demand for early disease detection and management, underscore the sustained growth and market leadership of handheld OCT devices, with projections indicating that the number of units in use globally will reach 150,000 by the end of the decade.

By Laser Type 

Tunable lasers, particularly in the context of Optical Coherence Tomography (OCT), have emerged as a dominant force in the market with market share of 35.1% due to their versatility and precision. These lasers are integral to high-resolution imaging applications, offering precise wavelength control crucial for detailed tissue imaging. In the medical sector, over 12 million OCT scans are performed annually, highlighting the extensive use of these devices. The global Optical coherence tomography devices market, valued at over $1.2 billion, heavily relies on tunable laser technology for its growth. Additionally, tunable lasers are favored in the telecommunications industry, with over 5 million tunable laser units being utilized in fiber optic communications for high-speed data transmission, supporting modern networks like 5G and 6G. This dual utility in both medical and communication fields significantly boosts their market appeal and revenue generation.

The compact size and efficient electro-optical conversion make them ideal for integration into various devices. Recent advancements have led to more than 1,500 patents filed globally for tunable laser technologies, indicating a robust innovation pipeline. The increasing demand for non-invasive diagnostic procedures has led to over 8,000 healthcare facilities worldwide adopting OCT systems powered by tunable lasers. In research and development, tunable lasers are part of over 2,000 ongoing projects focused on improving imaging technologies. The market's preference for tunable lasers is also reflected in their widespread use in high-speed OCT systems, which are among the most broadly used, producing more than 300,000 units annually. These factors collectively underscore the tunable laser's dominance and continued growth in the market.

By Price Range 

Based on price range, between $10,000 and $30,000 is the dominant segment in the optical coherence tomography devices market with market share of 48.4% due to their balance of affordability and advanced features. These devices are particularly appealing to smaller clinics and optometry practices that require high-quality imaging without the financial burden of more expensive models. The affordability of these devices allows for broader adoption, especially in emerging markets where healthcare budgets are more constrained. In 2023, there were approximately 2.1 billion people worldwide suffering from vision impairments requiring regular monitoring. The increasing incidence of diabetic retinopathy, affecting over 100 million people globally, has driven demand for OCT devices, as they provide non-invasive, high-resolution imaging crucial for early diagnosis and management. Additionally, with over 250 million individuals aged 65 and older, the aging population further bolsters the need for accessible diagnostic tools. The rise in chronic diseases, with nearly 500 million people affected by diabetes, contributes to the growing necessity for these devices in routine eye examinations.

The strong growth momentum in this price range in the optical coherence tomography devices market is also fueled by technological advancements that enhance diagnostic accuracy and usability. Devices in this range often incorporate spectral-domain technology, which offers faster and more detailed imaging compared to older time-domain systems. The market is also seeing a shift towards handheld and portable OCT devices, with sales reaching 15,000 units in 2023, a testament to their convenience and expanding applications beyond traditional settings. The Asia-Pacific region is projected to experience the fastest growth, with China and India accounting for over 40% of new device installations due to increased adoption of advanced technologies and a large senior population. Furthermore, the market's competitive nature, with several major players investing over $1 billion collectively in R&D, ensures continuous innovation and improvement in device capabilities. These factors collectively contribute to the preference for mid-range OCT devices, making them a staple in modern ophthalmic diagnostics.

By Imaging

When it comes to imaging type, the radial volume scan segment is dominating the optical coherence tomography devices market by contributing 46.8% market share. This dominance is mainly attributed to their ability to provide high-resolution, cross-sectional images of biological tissues. This non-invasive imaging technology is particularly advantageous in ophthalmology, where it offers detailed visualization of the retina, aiding in the diagnosis and management of conditions like glaucoma and macular degeneration. The demand for OCT devices is fueled by their precision and efficiency, which significantly enhance diagnostic accuracy. A notable statistic is the global Optical coherence tomography devices market, which reached a valuation of approximately $1.5 billion in 2023. The ophthalmology segment alone accounted for over 60 million imaging procedures worldwide, underscoring the technology's critical role in eye care. Furthermore, the integration of artificial intelligence in OCT systems has improved image analysis, with over 50,000 units incorporating AI algorithms by 2023, thus streamlining workflows and reducing diagnosis time.

The strong growth momentum and dominance of OCT devices are driven by several factors. The aging global population, with over 1 billion individuals aged 60 and above in 2023, presents a growing market for ocular disease management, where OCT is indispensable. Additionally, the expansion into new medical fields such as cardiology and dermatology has increased OCT's applicability, with over 5,000 devices now used outside ophthalmology. The increasing prevalence of diabetes, affecting 537 million adults globally, further boosts demand, as OCT is crucial in monitoring diabetic retinopathy. In terms of technological advancements, the development of portable OCT devices has increased accessibility, with over 10,000 portable units sold in 2023, facilitating point-of-care diagnostics. The market growth is also supported by rising healthcare expenditures, with global spending reaching $8.5 trillion, enabling more healthcare facilities to invest in advanced diagnostic technologies like OCT. As a result, OCT devices are preferred by end-users for their versatility, precision, and ability to enhance patient outcomes, cementing their dominance in the medical imaging landscape.

 To Understand More About this Research:  Request A Free Sample 

Regional Analysis 

North America remains the largest consumer and producer of optical coherence tomography (OCT) devices due to its advanced healthcare infrastructure and significant R&D investments. In 2023, North America optical coherence tomography devices market accounted for 37% market share. The presence of major players like Carl Zeiss Meditec AG and Optovue Inc. facilitates ongoing innovation and product availability. The region witnessed the sale of approximately 11,000 OCT units in 2022, reflecting high demand. An estimated 30 million OCT scans were performed in the U.S. alone last year, underscoring the technology's prevalent use. North America accounted for a significant portion of global market growth, with the U.S. leading in OCT technology adoption. The region benefits from a high incidence of retinal disorders; for instance, over 7 million Americans suffer from diabetic retinopathy. Additionally, around 10,000 ophthalmologists in the U.S. regularly use OCT devices in their practices. Canada follows the U.S. in market share, with approximately 1,500 OCT units sold in 2022. The region's market is bolstered by a robust healthcare infrastructure, with North America hosting over 3,000 hospitals equipped with OCT technology.

Asia Pacific is the second-largest optical coherence tomography devices market, driven by rapid economic growth and increasing healthcare expenditure. China, India, and Japan are key markets, with China alone accounting for the sale of over 8,000 OCT units last year. Significant advancements in healthcare infrastructure support the adoption of advanced diagnostic technologies, with Japan leading the way with over 1,200 hospitals using OCT. The growing prevalence of eye diseases, such as cataracts and diabetic retinopathy, is a major driver, with an estimated 60 million individuals affected across the region. The Asia Pacific market is expected to grow at the highest CAGR over the forecast period, with India projected to see a 40% increase in OCT unit installations by 2025. The region benefits from increasing awareness about early diagnosis, with over 15,000 ophthalmologists actively using OCT devices. Additionally, government initiatives in countries like India and China aim to expand access to advanced eye care, further boosting market growth. The region's OCT device exports were valued at USD 150 million in 2023, highlighting its growing role in the global market.

Europe ranks third in the global Optical coherence tomography devices market, supported by a strong focus on healthcare innovation and the presence of key players like Heidelberg Engineering GmbH. Germany alone accounted for the sale of over 5,000 OCT units last year, reflecting its advanced healthcare system and high adoption rates. The region benefits from increasing awareness about the early detection of ocular diseases, with over 20 million OCT scans conducted annually. The UK's market is also significant, with around 2,500 OCT units sold in 2022. The European market is characterized by high adoption rates of OCT technology, with France and Italy together performing over 10 million scans last year. The region's market is expected to grow steadily, driven by the adoption of new OCT products and increasing healthcare expenditures. The presence of key players strengthens the market, with Europe hosting over 2,500 hospitals equipped with OCT technology. Additionally, over 12,000 ophthalmologists in Europe regularly use OCT devices, contributing to the region's market growth. The region's exports of OCT devices were valued at US$ 100 million in 2023, highlighting its role in the global industry.

Top Players in Global Optical Coherence Tomography Devices Market 

• AccuVein
• Agfa Healthcare
• Carl Zeiss Meditec AG
• Danaher Corporation
• Heidelberg Engineering GmbH
• Novacam Technologies
• Novacam Technologies Inc.
• OPTOPOL Technology S.A
• Optovue
• Terumo Medical Corporation
• Thorlabs Inc.
• TOPCON CORPORATION
• Other Prominent players

Market Segmentation Overview:

By Devices

• Handheld OCT Devices
• Catheter Bases OCT Devices
• Tabletop OCT Devices
• Doppler OCT Devices

By Technology

• Time Domain OCT (TDOCT)
• Frequency Domain OCT (FD-OCT)
• Spatial Encoded Frequency Domain OCT
  • Spectral Domain Optical Coherence Tomography (SDOCT)
  • Fourier Domain Optical Coherence Tomography (FDOCT)

By Laser Types

• Tunable Lasers
• Swept Laser
• Ultrafast Lasers
• Others

By Wavelength

• 500 nm -800 nm
• 801 nm-1000 nm
• 1001 nm- Above 1300

By Tuning Range

• Broad Tuning Range
• Wide Tuning Range

By Price Range

• Less than $10000
• Between $10000 and $30000
• $30000 and above

By imaging

• Annular volume scan
• Radial volume scan
• Raster or rectangular volume scan

By Application

• Medical
  • Ophthalmology
  • Cardiology
  • Oncology
  • Dermatology
  • Dentistry
• Non- Medical
  • Evaluation of Material Surfaces, Fiber Coils & Coatings
  • 3D imaging of microstructures
  • Examination of cultural heritage objects
  • Other Industrial Uses

By End Users

• Research Institutes
• Clinics & Laboratories
• Hospitals
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Western Europe
    • U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Rest of Western Europe
  • Eastern Europe
    • Poland
    • Russia
    • Rest of Eastern Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • ASEAN
  • Rest of Asia Pacific
• Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
• South America
  • Argentina
  • Brazil
  • Rest of South America