According to our new research study on "Optical Coherence Tomography Angiography Equipment Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type and End User," the market is expected to grow from US$ 388.50 million in 2021 to US$ 616.31 million by 2028; it is estimated to grow at a CAGR of 6.8% from 2021 to 2028. The report highlights trends prevailing in the optical coherence tomography angiography equipment market and factors driving its growth. The rising prevalence of eye-related disorders and a surge in the geriatric population propel the demand for optical coherence tomography angiography equipment. However, the lack of skilled professionals and technical challenges associated with systems hamper the optical coherence tomography angiography equipment market growth.
Based on type, the optical coherence tomography angiography equipment market is bifurcated into tabletop type and handheld type. The tabletop fragment held a larger market share in 2021 and is expected to retain its dominance during the forecast period. Moreover, the handheld section is estimated to register a higher CAGR during the forecast period. Most flow angiography equipment are tabletop systems that are typically used for imaging compliant, seated subjects. However, this type cannot be applied for imaging crucial patient populations — including confined to bed patients, patients undergoing surgeries in operating rooms, young kids in clinics, and infants in intensive care nurseries. Tabletop OCT angiography systems have conveyed reproducible outcomes in clinical and research studies, however these systems won't be quickly utilized for pediatric applications. Therefore, handheld OCT systems have been used to bring the point-of-care feature for imaging these patient populations, for detecting retinopathy or prematurity ROP.
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Impact of COVID-19 Pandemic on Optical Coherence Tomography Angiography Equipment Market
The COVID-19 pandemic has adversely affected various industries, like manufacturing and healthcare, and its long-term repercussions are expected to hamper the healthcare industry growth during the forecast period. Because of the rising number of cases, lockdown and business shutdowns were imposed by governments of various countries to control transmission. Suspended business activities hindered the growth of economies, and decreased capital expenditures and investments in high-ticket machines. Many of these investments were canceled or postponed, resulting in a cascade of hospital medical equipment purchases. Many non-essential, elective medical treatments and surgeries were postponed, rescheduled, or canceled amid the COVID-19-related restrictions in various regions of the world, which lowered the demand for angiography equipment in 2020. However, this global crisis has prompted the increased demand for accurate diagnoses and treatments in North America.
Several players in the optical coherence tomography angiography equipment manufacturing market engage in meeting the growing demands for imaging solutions. 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; and HEIDELBERG ENGINEERING GMBH are among the leading companies operating in the optical coherence tomography angiography equipment market.
The report portions the optical coherence tomography angiography equipment market as follows:
The optical coherence tomography angiography equipment market has been fragmented on the basis of type and end user. Based on type, the optical coherence tomography angiography equipment market is fragmented into handheld type and tabletop type. Based on end user, the optical coherence tomography angiography equipment market is fragmented into hospitals, clinics, and others. By geography, the optical coherence tomography angiography equipment market is fragmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia Pacific), the Center East and Africa (the UAE, Saudi Arabia, South Africa, and Rest of the Center East and Africa), and South and Central America (Brazil, Argentina, and Rest of South and Central America).
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