Optical Coherence Tomography Angiography Equipment Market to 2028

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)

Publication Month : Feb 2022

  • Report Code : TIPRE00021667
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 155
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The optical coherence tomography angiography equipment market is projected to reach US$ 616.31 million by 2028 from US$ 388.50 million in 2021; it is expected to grow at a CAGR of 6.8% from 2021 to 2028.

Technical innovations in the optical coherence tomography angiography equipment by the leading companies, rising geriatric population, and fast market approvals are the factors contributing to the growth of the market during 2021–2028.

North America is likely to continue its dominance in the optical coherence tomography angiography equipment market during 2021–2028. The US holds the largest market share in this region. The optical coherence tomography angiography equipment market growth in the US is mainly due to the escalating prevalence of eye-related disorders in this country. According to the National Institute of Health (NIH) report, from 2005 to 2010, the number of people suffering from age-related macular degeneration (AMD) grew by 18% from 1.75 million to 2.07 million. By 2050, this number is projected to reach from 2.07 million to 5.44 million. To reduce such high prevalence, governments and other institutions take initiatives for raising awareness among the population. For example, the Centers for Disease Control and Prevention (CDC) and VHI joined hands to create more effective multilevel network for the prevention of vision loss and eye health promotion. Therefore, the growing burden of eye-related disorders among the elderly population favors the use of advanced eye care and awareness programs across the country, thereby supporting the growth of market.


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Optical Coherence Tomography Angiography Equipment Market: Strategic Insights

optical-coherence-tomography-angiography-equipment-market
Market Size Value inUS$ 388.50 million in 2021
Market Size Value byUS$ 616.31 million by 2028
Growth rateCAGR of 6.8% from 2021 to 2028.
Forecast Period2021- 2028
Base Year2021
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Lucrative Regions for Optical Coherence Tomography Angiography Equipment Market         


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Market Insights

Technological Innovations in Optical Coherence Tomography Angiography Equipment by Leading Companies Drives Market Growth

According to a report by the Wolters Kluwer Health, Inc., the progress made in ophthalmic imaging technologies in the past two decades has revolutionized clinical approaches and improved the efficiency of eye care services. The advancements in OCT technology improve disease detection and provide a better understanding of disease pathophysiology. For example, "SS-OCT" employs a fast sweeping scan pattern through a broad bandwidth, allowing faster scanning speed. Leading companies in the OCTA market are launching new products that educate professionals regarding benefits associated with OCTA that will definitely have an optimistic impact on the growth of optical coherence tomography angiography equipment market during 2021–2028.  In April 2019, ZEISS Medical Technology segment announced the launch of the first dual-speed Swept-Source OCT/OCTA that features a retina enabling visualization option for diagnosing various diseases.

Type Insights

Based on the type, the optical coherence tomography angiography equipment market is segmented into handheld type and tabletop type. The tabletop type segment is estimated to account for the largest market share during 2021–2028. Advancements in retinal imaging modalities allow physicians to visualize posterior segment of the eye. With the growing clinical use of such advanced clinical imaging techniques constantly expanding and new developments in machinery it results in improvements in patient’s ophthalmology care. With the invention of widefield and ultra-field fundus imaging systems—such as the non-contact tabletop Zeiss Clarus—the quick gathering of high-resolution information beyond the posterior pole of an eye has become possible. Such technological developments are driving the growth of the optical coherence tomography angiography equipment market for the tabletop type.

Optical Coherence Tomography Angiography Equipment Market, by Type – 2021 and 2028

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End User Insights

Based on end user, the optical coherence tomography angiography equipment market is segmented into hospitals, clinics, and others. The hospitals segment would dominate the market accounting maximum share and will continue to do so till the forecast period of 2021 to 2028. The market growth for optical coherence tomography angiography equipment of this segment is ascribed to the rising prevalence of eye-related disorders worldwide resulting in accelerating adoption of OCTA within hospitals.

Companies operating in the optical coherence tomography angiography equipment market adopt the product innovation strategy to meet the evolving customer demands worldwide, which also permits them to maintain their brand name in the global market.

Optical Coherence Tomography Angiography Equipment Market – Segmentation

Based on type, the market is segmented into handheld type and tabletop type. By end user, the optical coherence tomography angiography equipment market is segmented into hospitals, clinics, and other. Based on geography, the optical coherence tomography angiography equipment market is primarily segmented into North America, Europe, Asia Pacific, Middle East and Africa (MEA) and South and Central America. The optical coherence tomography angiography equipment market in North America is further segmented into the US, Canada, and Mexico. The European optical coherence tomography angiography equipment market is subsegmented into France, Germany, the UK, Spain, Italy, and the Rest of Europe. The market in Asia Pacific is subsegmented into China, India, Japan, Australia, South Korea, and the Rest of APAC. The optical coherence tomography angiography equipment market in the MEA is further segmented into Saudi Arabia, the UAE, South Africa, and the Rest of MEA. The market in South and Central America is segmented into Brazil, Argentina, and the Rest of South and Central America.

Optical Coherence Tomography Angiography Equipment Market- Company Profiles

  • NIDEX Co., LTD.
  • Carl Zeiss AG
  • OPTOVUE, INCPORPOTRATED
  • Canon, Inc.
  • OPTOPOL TECHNOLOGY SP. Z.O.O
  • Alcon, Inc.
  • Michelson Diagnostics Ltd.
  • Topcon Corporation
  • SANTEC Corporation
  • HEIDELBERG ENGINEERING GMBH
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type and End User

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What is meant by the optical coherence tomography angiography equipment market?

Optical coherence tomography angiography equipment (OCTA) is a form of non-invasive and novel imaging system. It generates high volumetric data of choroidal and retinal layers by showing both blood and structural flow information. Optical coherence tomography angiography is utilized to picture general retinal diseases such as age-related macular degeneration and diabetic retinopathy that serves as a responsible factor for causing blindness. It is the most commonly employed imaging modality in the ophthalmology field and precise for guiding treatment and evaluating fluid accumulation in diseases concerning the retina.

What are the driving factors for the optical coherence tomography angiography equipment market across the globe?

Rising prevalence of eye-related disorders and rising geriatric population are the most significant factors responsible for the overall market growth.

Which segment led the optical coherence tomography angiography equipment market?

Based on type, tabletop type segment took the forefront lead in the worldwide market by accounting largest share in 2020 and is expected to continue to do so till the forecast period.

Which end user segment held the largest market share in the optical coherence tomography angiography equipment market?

The hospital segment dominated the global optical coherence tomography angiography equipment market and accounted for the largest market share of 50.06% in 2021.

Who are the key players in the optical coherence tomography angiography equipment market?

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 are among the leading companies operating in the global optical coherence tomography angiography equipment market.

What is the regional market scenario of the optical coherence tomography angiography equipment market?

Global optical coherence tomography angiography equipment market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. In North America, the U.S. is the largest market for optical coherence tomography angiography equipment market. The US is estimated to hold the largest share in the optical coherence tomography angiography equipment market during the forecast period. The presence of top players and favorable regulations related to product approvals coupled with commercializing new products are the contributing factors for the regional growth. Additionally, the increasing number of R&D activities is the key factor responsible for the Asia-Pacific regional growth for optical coherence tomography angiography equipment accounting fastest growth of the region during the coming years.

The List of Companies - Optical Coherence Tomography Angiography Equipment Market 

  1. NIDEK CO., LTD.
  2. Carl ZEISS AG
  3. OPTOVUE, INCORPORATED
  4. Canon Inc.
  5. OPTOPOL TECHNOLOGY SP. Z O.O
  6. Alcon Inc.
  7. Michelson Diagnostics Ltd.
  8. Topcon Corporation
  9. SANTEC Corporation
  10. HEIDELBERG ENGINEERING GMBH.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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