APAC Optical Coherence Tomography Market

APAC Optical Coherence Tomography Market Size (2023 to 2028)

As per the research report, the Asia Pacific optical coherence tomography market size is forecasted to grow at a prominent CAGR between 2023 to 2028.

The number of people suffering from eye-related problems such as glaucoma, macular degeneration, and diabetic retinopathy is significantly growing in the Asia-Pacific region, which is anticipated to be one of the key factors propelling the optical coherence tomography market in this region. In addition, rising preferences towards minimally invasive surgical procedures among people due to increasing applications, such as faster recovery rates, high accuracy rates, and lesser complications and scarring, are favoring the market growth. On the other hand, growing competition between players for introducing new innovative diagnosing devices, YOY rise in the geriatric population in the Asia-Pacific region, as older people are more prone to eye-related disorders and problems, further promoting the growth rate of the optical coherence tomography market in the Asia-Pacific region.

In addition, the increasing investments and funding from government and non-government organizations on R&D activities to manufacture various innovative devices and techniques for diagnosing and imaging used for obtaining high-resolution cross-sectional images is a supporting factor to the market in this region. Furthermore, increasing the technological advancement for developing more excellent resolution diagnosing devices for scanning purposes with the increase in the government initiatives for creating better, advanced medical and healthcare infrastructure in the region with good services and facilities are uplifting the market's growth.

However, an increase in the costs of the equipment and OTC devices, the lack of proper accessibility, and the limited resources for research and development activities mainly restrain the APAC optical coherence tomography in the market. In addition, the lack of clinical awareness and knowledge among the people about the benefits and applications of optical coherence tomography and the lack of proper reimbursement policies in the region are limiting the market growth. On the other hand, the stringent government rules and regulations also affect the development of the optical coherence tomography market in the APAC region.

This research report on the Asia-Pacific optical coherence tomography market has been segmented and sub-segmented into the following categories:

By Device Type: 

• Handheld OCT Devices
• Catheter-Based OCT Devices
• Tabletop OCT Devices
• Doppler OCT Devices

By Technology: 

• Frequency Domain Optical Coherence Tomography (FD-OCT)
• Spatially Encoded Frequency Domain Optical Coherence Tomography
• Time Domain Optical Coherence Tomography (TDOCT)

By Country: 

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

APAC is one of the fastest-growing regions in the global optical coherence tomography market. As a result, the region is expected to hold a significant share of the optical coherence tomography market. The major driving factors of the market are the increasing chronic disease and ocular diseases in the region. In addition, the presence of key market players significantly uplifts market growth. Furthermore, the increasing geriatric population in the region has also been a significant reason for increasing ocular diseases and, thus, the market's growth, mainly driving the market growth. In addition, the increasing number of diabetic patients and the rising spending on medical and healthcare services in the region are also responsible for the market growth.

China accounted for the largest share of the optical coherence tomography market. This is because of the increasing geriatric population, growing ocular diseases, and rising healthcare expenditure. The main reasons for the regional growth are the government's increased focus on growing initiatives for developing health infrastructure and accelerating the market's growth.

On the other hand, the Indian optical coherence tomography market is anticipated to account for a prominent share of the APAC market during the forecast period. The increasing number of people diagnosed with diabetic patients and ocular diseases in India is boosting market growth. In addition, the rising healthcare spending and increased research and development activities in the country are some of the factors expected to fuel market growth.  

KEY MARKET PLAYERS:

A few noteworthy companies operating in the APAC optical coherence tomography market profiled in the report are Agfa Healthcare, Thorlabs Inc., Carl Zeiss Meditec AG, Topcon Medical Systems Inc., Heidelberg Engineering GmbH, OPTOPOL Technology S.A., Imalux Corporation, Novacam Technologies Inc. and Michelson Diagnostics.