DUBLIN, October 25, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "Optical Coherence Tomography (OCT) Market Analysis By Technology, By Type, By Application And Segment Forecasts to 2024" report to their offering.

The global optical coherence tomography (OCT) market is expected to reach USD 1.8 billion by 2024. Increasing incidences of ocular diseases coupled with rising technological advancement in diagnostics is expected to boost the market for OCT based imaging devices. Furthermore, rising applications in cardiology, dermatology, oncology and other diseases is anticipated to support market growth over the forecast period.

Government support towards increased diagnostic rate is another vital impact rendering driver. For instance, the U.S. FDA have launched multiple programs to facilitate routine screening of geriatric patients, which forms a large portion of the target group. Availability of favorable reimbursement, is further expected to increase the diagnostic rate for conditions such as age-related macular degeneration, retinopathy, vitreomacular traction along with various other conditions.

The time domain segment spearheaded the optical coherence tomography market in 2015, whereas, spatially encoded domain OCT is expected to witness lucrative growth over the forecast period. This is the most advanced technology and finds application across various domains, thereby actively contributing to the market growth over the forecast period.

Ophthalmology forms the largest application segment and is expected to lose market share over the forecast period owing to the introduction of other application and their lucrative growth trend. For instance, application of these devices for dermatology imaging is predicted to be on rise over the next few years. The ability of OCT imaging devices to non-invasively provide 3D images up to 2-3 mm depth with higher resolution than ultrasound is expected to be the driver of this growth.

Asia Pacific region is predicted to witness the fastest growth by 2024 and hold over 25.0% of the market share. Presence of growth opportunities in regions such as Korea, China, India, Malaysia and others countries of South Asia are anticipated to be the vital impact rendering drivers. Furthermore, expansion of competitors and establishment of manufacturing units in the region are also anticipated to support growth.

Companies Mentioned:

• Afga Healthcare
• Carl Zeiss Meditec AG
• Heidelberg Engineering GmbH
• Imalux Corporation
• Michelson Diagnostics
• Novacam Technologies Inc.
• OPTOPOL Technology S.A.
• Topcon Medical Systems
• Thorlabs Inc.

Report Structure:

1 Research Methodology

2 Executive Summary

3 Market Snapshot

4 Market Variables, Trends & Scope

5 Market Categorization 1: Technology Estimates & Trend Analysis  6 Market Categorization 2: Type Estimates & Trend Analysis

7 Market Categorization 3: Application Estimates & Trend Analysis

8 Market Categorization 4: Regional Estimates & Trend Analysis, by Technology, Type & Application

9 Competitive Landscape

For more information about this report visit http://www.researchandmarkets.com/research/h3cjgm/optical_coherence

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SOURCE Research and Markets