Overview

Intravascular Optical Coherence Tomography (OCT) Imaging Systems Market Introduction

The global intravascular optical coherence tomography (Oct) imaging systems market is predicted to value over US$ 1.5 billion by the end of 2027 and growing at a CAGR of over 7% during the forecast period, 2020 to 2027.

Optical coherence tomography (OCT) is a high resolution imaging modality that uses backscattered light to produce cross sectional images of biological tissue with micrometer resolution. Intravascular OCT uses coherent light in the near infrared region of the electromagnetic spectrum, as the use of relatively longer wavelengths enables deeper penetration into highly scattering media. Intravascular OCT requires the use of an optical fiber and an imaging element to illuminate and collect back scattered light from the array wall, while rotating and pulling back the catheter optics at high speed through the lumen of artery. OCT has been adopted for numerous imaging applications in the coronaries and is demonstrated to be safe in an unselected and heterogeneous group of patients in varying clinical settings.

Technological evolution led to the introduction of the OCT imaging system for intravascular imaging. OCT offers higher resolution and rapid image acquisition compared traditional imaging techniques and it led to rapid adoption of OCT systems over the end users segment. Additionally, it also allows detailed optimization of stent deployment and decreases medical complications. All these features made the OCT superior over the imaging modalities in clinical practices. Further, it has extensive use in research studies and it acts complementary imaging techniques for existing technologies. Along with this, growing technologies is expected to increase the adoption of intravascular OCT imaging systems for patient evaluation and clinical trials. At present, the market is at nascent phase and it is expected to witness double digit growth rate during the forecast period.

Developed economies like North America and Europe are expected to dominate the global market. They represent more than 60% market share during the forecast period and expected to remain the same throughout forecast period. Asia Pacific is fast growing region due to increasing adoption of OCT imaging in clinical diagnosis. It is expected to gain more traction during forecast period due to changing economic conditions. Latin America and Rest of the World account small fraction in global market due to limited adoption and they represents more opportunistic space for international players

Intravascular Optical Coherence Tomography (OCT) Imaging Systems market players include:

Abbott Laboratories, CONAVI MEDICAL, LightLab Imaging Inc., St. Jude Medical and others.

Intravascular Optical Coherence Tomography (Oct) Imaging Systems Market

Intravascular Optical Coherence Tomography (OCT) Imaging Systems Market Segmentation

By Implant Type

Time domain intravascular OCT
Frequency Domain OCT

By End User

Hospitals
Diagnostics Laboratories
Ophthalmic Clinics
Outpatient Centres

By Region

North America
Latin America
Europe
Asia Pacific
Rest of the World

Competitive Landscape:
• Tier 1 players- established companies in the market with a major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants

FutureWise Key Takeaways
• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth

Objectives of the Study:

• To provide with an exhaustive analysis on the global Market by Implant Type, by End-User, by Region

• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and core competencies