The Insight Partners published latest research study on “Optical Coherence Tomography Angiography Equipment Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Handheld Type and Tabletop Type) and End User (Hospitals, Clinics, and Others)
The Insight Partners published latest research study on “Optical Coherence Tomography Angiography Equipment Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Handheld Type and Tabletop Type) and End User (Hospitals, Clinics, and Others)”, the global optical coherence tomography angiography equipment market growth is driven by the rising prevalence of eye-related disorders and a rise in the geriatric population, technological innovations in optical coherence tomography angiography equipment by leading companies.
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| Report Coverage | Details |
| Market Size Value in | US$ 388.50 million in 2021 |
| Market Size Value by | US$ 616.31 million by 2028 |
| Growth rate | CAGR of 6.8% from 2021 to 2028. |
| Forecast Period | 2021- 2028 |
| Base Year | 2021 |
| No. of Pages | 155 |
| No. Tables | 59 |
| No. of Charts & Figures | 68 |
| Historical data available | Yes |
| Segments covered | Type and End User |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Optical Coherence Tomography Angiography Equipment Market: Competitive Landscape and Key Developments
Alcon Inc., Heidelberg Engineering GmbH, Canon Inc., Optovue Inc., and Topcon Corporation implemented various inorganic strategies, such as partnerships and collaborations, which have bought dynamic improvements in the optical coherence tomography angiography equipment market. Companies are also adopting organic strategies such as product launches and expansions. These growth strategies have aided the market players in expanding their business and enhancing their geographic presence. Additionally, acquisitions and partnerships help market players strengthen their customer base and expand the product portfolio.
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In January 2022, Alcon closed its previously announced acquisition of 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 collaborated 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.
In September 2021, Canon Inc. acquired Redlen Technologies Inc. to make Redlen a wholly owned subsidiary. With the acquisition of Redlen, Canon will obtain advanced radiation detection and imaging technology used in CZT semiconductor detector modules, which play an important role in the development of Photon Counting CT (PCCT).
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In July 2021, Topcon Corporation announced that it had acquired VISIA Imaging S.r.l, an ophthalmic device manufacturer headquartered in suburban Florence, Italy. This acquisition enhances the R&D and manufacturing capabilities of the Anterior segment devices and software of Topcon, which complements the company’s strong portfolio of fundus imaging devices, including fundus cameras and optical coherence tomography (OCT).
In June 2021, Luneau Technology and Optovue Inc announced a definitive merger agreement. The newly merged venture will continue to serve eye care professionals as a major player with innovative product lines and a strong focus on its telehealth solutions. The transaction is subject to additional customary conditions to completion and legal approvals.
Optical Coherence Tomography Angiography Equipment Market: Key Insights – Impact of COVID-19 Pandemic
COVID-19 is an unprecedented global public health crisis that has impacted practically every business, and its long-term repercussions are expected to have an influence on healthcare industry growth during the forecast period. COVID-19 has increased the demand for accurate diagnosis and treatment in North America. Several players in the medical device manufacturing market engage in meeting the growing demand for imaging solutions among healthcare providers. The pandemic has changed the healthcare system’s primary focus to COVID-19, and healthcare providers in various regions of the world had to cancel numerous treatments and surgeries, thereby hampering the optical coherence tomography angiography equipment market in 2020. However, when restrictions were relaxed in most parts of the world in late 2021, the market began to rebound and resume its typical growth trajectory from 2022.
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Optical Coherence Tomography Angiography Equipment Market: Segmental Overview
Based on type, the optical coherence tomography angiography equipment market is bifurcated into tabletop type and handheld type. The tabletop segment held a larger market share in 2021 and is expected to retain its dominance during the forecast period. Moreover, the handheld segment is estimated to register a higher CAGR during the forecast period. Most OCT systems are tabletop that requires compliant, seated subjects. Tabletop OCT angiography systems have delivered reproducible results in clinical and research studies, but these systems cannot be easily utilized for pediatric applications. Therefore, handheld OCT systems are used to bring a point of care feature for imaging applications involving these important patient populations for detecting retinopathy or retinopathy of prematurity (ROP).
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