Optical Coherence Tomography Angiography Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

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Optical Coherence Tomography Angiography (OCTA) Market by Equipment Type (Tabletop Type and Handheld Type), End User (Hospitals, Clinics, and Others) and Geography

 

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Report

Description

The Optical Coherence Tomography Angiography (OCTA) market is valued at USD 405.3 million in 2021 and is poised to grow at a significant CAGR of 7.2% over 2022–2028. The market for optical coherence tomography angiography equipment is expanding due to the increased prevalence of several eye illnesses and the availability of low-cost diagnostic techniques. In the world, at least 2.2 billion people have a near- or distant vision impairment, as per a World Health Organization (WHO) report. By using cutting-edge technology for the early diagnosis of ocular problems among the patient group, at least 1 billion of these instances, or nearly half of them, might be avoided. According to the Optica Publishing Group report, coherence tomography angiography has developed into a crucial tool for assessing adult retinal health and is gaining significant attention because of its noninvasive method that involves producing objective biomarkers, which are accurate measurements of a patient’s medical state that allow for an earlier and more precise diagnosis of retinal diseases. The ability of OCTA to detect preclinical disease and monitor disease progression in most instances of blindness has led to recommendations for it as a standard of care in adult retinal practices. Additionally, the Food and Drug Administration’s (FDA) quick product approval of optical coherence tomography angiography equipment promotes the use of such cutting-edge technology. The OCTA market for the hospital’s segment also benefits from notable players working with hospitals to enhance their product portfolios and services. The major players also adhere to market strategies, including acquisition and new product launches. For instance, in July 2021, Topcon Corporation purchased VISIA Imaging S.r.l., an Italian company that makes ophthalmic devices based in a suburb of Florence. With this purchase, Topcon’s anterior segment devices and software will have improved R&D and manufacturing capabilities, strengthening its already robust line of fundus imaging products, including fundus cameras and optical coherence tomography (OCT). Moreover, a formal merger agreement between Luneau Technology and Optovue Inc., was announced in June 2021. The newly combined company will continue to play a significant role in serving eye care professionals with its cutting-edge product lines and a strong emphasis on telehealth solutions. Additional standard requirements for completion and legal approvals are associated with the transaction.

Key Developments:

In January 2022, Alcon acquired Ivantis that develops the novel Hydrus Microstent, a minimally invasive glaucoma surgery (MIGS) device designed to lower eye pressure for open-angle glaucoma patients in connection with cataract surgery. With this acquisition, the immediate integration of Ivantis associates helps ensure continuity of the business and relationships with existing customers.

In November 2021, RetinAI Medical AG partnered with Heidelberg Engineering, enabling Heidelberg Engineering’s customers to utilize RetinAI’s portfolio of artificial intelligence analysis tools in combination with high-quality OCT images.

Optical Coherence Tomography Angiography Market

MARKET SUMMARY
-
7.2%
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 7.2%
  • Largest Market– North America
  • Fastest Growing Market– Asia-Pacific

Optical Coherence Tomography Angiography Market

  • The Optical Coherence Tomography Angiography Market report gives comprehensive outlook across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
  • The Optical Coherence Tomography Angiography Market is segmented based on equipment type, end user and geography.
Key Players

 

  • Nidek Co., Ltd.
  • Carl Zeiss AG
  • Optovue, Incorporated
  • Canon Inc.
Optical Coherence Tomography Angiography Market Dynamics

Because of eye illnesses such as diabetic retinopathy, glaucoma, and other retinal disorders are becoming more common, which has hastened the introduction of OCTA in hospitals. Hospital adoption of OCT angiography equipment has been boosted by the increased prevalence of eye-related ailments such as diabetic retinopathy, glaucoma, and other retinal disorders, which is attributed to the market growth of the hospital sector. Market retraining results from a lack of skilled professionals and systemic issues.


Asia-Pacific Got Significant Share

Optical Coherence Tomography Angiography Market

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2016-2021), and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenari0
Optical Coherence Tomography Angiography Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The Optical Coherence Tomography Angiography Market is projected to expand at a CAGR of 7.2% during the forecast period

Nidek Co., Ltd., Carl Zeiss AG, Optovue, Incorporated, Canon Inc., Optopol Technology Sp. Z O.O, Alcon Inc., Michelson Diagnostics Ltd.

Asia Pacific is the fastest-growing region for Optical Coherence Tomography Angiography Market


Report

Company Profile

  • Nidek Co., Ltd.
  • Carl Zeiss AG
  • Optovue, Incorporated
  • Canon Inc.
  • Optopol Technology Sp. Z O.O
  • Alcon Inc.
  • Michelson Diagnostics Ltd.
  • Topcon Corporation
  • Santec Corporation
  • Heidelberg Engineering GmbH.

Description

The Optical Coherence Tomography Angiography (OCTA) market is valued at USD 405.3 million in 2021 and is poised to grow at a significant CAGR of 7.2% over 2022–2028. The market for optical coherence tomography angiography equipment is expanding due to the increased prevalence of several eye illnesses and the availability of low-cost diagnostic techniques. In the world, at least 2.2 billion people have a near- or distant vision impairment, as per a World Health Organization (WHO) report. By using cutting-edge technology for the early diagnosis of ocular problems among the patient group, at least 1 billion of these instances, or nearly half of them, might be avoided. According to the Optica Publishing Group report, coherence tomography angiography has developed into a crucial tool for assessing adult retinal health and is gaining significant attention because of its noninvasive method that involves producing objective biomarkers, which are accurate measurements of a patient’s medical state that allow for an earlier and more precise diagnosis of retinal diseases. The ability of OCTA to detect preclinical disease and monitor disease progression in most instances of blindness has led to recommendations for it as a standard of care in adult retinal practices. Additionally, the Food and Drug Administration’s (FDA) quick product approval of optical coherence tomography angiography equipment promotes the use of such cutting-edge technology. The OCTA market for the hospital’s segment also benefits from notable players working with hospitals to enhance their product portfolios and services. The major players also adhere to market strategies, including acquisition and new product launches. For instance, in July 2021, Topcon Corporation purchased VISIA Imaging S.r.l., an Italian company that makes ophthalmic devices based in a suburb of Florence. With this purchase, Topcon’s anterior segment devices and software will have improved R&D and manufacturing capabilities, strengthening its already robust line of fundus imaging products, including fundus cameras and optical coherence tomography (OCT). Moreover, a formal merger agreement between Luneau Technology and Optovue Inc., was announced in June 2021. The newly combined company will continue to play a significant role in serving eye care professionals with its cutting-edge product lines and a strong emphasis on telehealth solutions. Additional standard requirements for completion and legal approvals are associated with the transaction.

Key Developments:

In January 2022, Alcon acquired Ivantis that develops the novel Hydrus Microstent, a minimally invasive glaucoma surgery (MIGS) device designed to lower eye pressure for open-angle glaucoma patients in connection with cataract surgery. With this acquisition, the immediate integration of Ivantis associates helps ensure continuity of the business and relationships with existing customers.

In November 2021, RetinAI Medical AG partnered with Heidelberg Engineering, enabling Heidelberg Engineering’s customers to utilize RetinAI’s portfolio of artificial intelligence analysis tools in combination with high-quality OCT images.

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