Key Takeaways:
- The Artificial Intelligence (AI) Optical Coherence Tomography (OCT) market is expected to grow from $1.84 billion in 2024 to $3.25 billion by 2029 at a CAGR of 12%.
- The market is driven by technological advancements, increasing adoption of non-invasive diagnostic tools, and a rising prevalence of ophthalmological diseases.
- Key players in the market include Abbott Laboratories, Canon Inc., Carl Zeiss AG, Topcon Corporation, and Notal Vision Inc.
- North America leads the market, while Asia-Pacific is poised for the fastest growth.
- Innovations in AI imaging, portable devices, and teleophthalmology solutions are shaping the market landscape.
Introduction to AI-OCT Market
The Artificial Intelligence (AI) Optical Coherence Tomography (OCT) market is on a trajectory of rapid growth, driven by technological advancements and a rising prevalence of ophthalmological diseases. As stated in the report, "the artificial intelligence (AI) optical coherence tomography (OCT) market is valued at $1.84 billion in 2024, and it is projected to grow to $2.06 billion in 2025 at a CAGR of 12.3%." This growth is expected to continue, with the market reaching $3.25 billion by 2029 at a CAGR of 12%. The increasing adoption of non-invasive diagnostic tools, expansion of hospital infrastructure, higher healthcare spending in developed nations, and broader reimbursement options are key factors propelling this growth.
Market Drivers and Trends
A surge in the incidence of eye diseases, particularly driven by rising diabetes rates, underscores the market’s potential. AI-based OCT is pivotal in diagnosing eye conditions by delivering high-resolution retinal imaging for early detection and continuous monitoring, thus improving clinical efficiency. As the CDC reported, "over 3 million Americans [are] affected by glaucoma, a number expected to double by 2050," highlighting the significant role AI-OCT will play in the future. Innovations in AI imaging, portable devices, and teleophthalmology solutions are shaping the market landscape. The introduction of at-home OCT devices, such as Notal Vision Inc.’s SCANLY Home OCT device, is revolutionizing patient care, enabling remote monitoring and enhancing diagnostic accuracy.
Competitive Landscape
The market is dominated by players such as Abbott Laboratories, Canon Inc., Carl Zeiss AG, Topcon Corporation, and Notal Vision Inc. Strategic acquisitions, such as Topcon Healthcare Inc.’s acquisition of RetInSight GmbH, are also shaping the competitive landscape. This acquisition enhances Topcon’s AI-OCT capabilities and strengthens its digital eye care platform, promoting broader adoption of AI-driven retinal disease management technologies. As the report notes, "the companies featured in this Artificial Intelligence (AI) Optical Coherence Tomography (OCT) market report include… Abbott Laboratories, Canon Inc., Carl Zeiss AG, Excelitas Technologies Corp., Topcon Corporation, and others."
Regional Analysis
North America leads the market, while Asia-Pacific is poised for the fastest growth. The geographic focus spans across key regions, including Asia-Pacific, Western Europe, North America, and others, with major markets in countries like the USA, China, and Japan. The report provides a thorough analysis of the market’s interaction with the global economy, demographic trends, and parallel markets, while also examining technological innovations, regulatory shifts, and changing consumer demands.
Challenges and Opportunities
However, fluctuating trade relations and tariffs pose challenges to the industry. The medical equipment sector, particularly its imported components, is affected by recent U.S. tariffs. Manufacturers are adopting strategies such as dual-sourcing and expanding domestic production to mitigate these risks. Overall, the AI-OCT market is witnessing robust growth thanks to technological innovations, increased healthcare funding, and a rising demand for efficient diagnostic tools, paving the way for advancements in ophthalmology and beyond.
Report Scope and Attributes
The report delves into the dimensions of the AI OCT market, identifying growth areas and key trends affecting its trajectory. It evaluates the market’s interaction with the global economy, demographic trends, and parallel markets, while also examining technological innovations, regulatory shifts, and changing consumer demands. The analysis includes market characteristics, size, and growth forecasts, segmentation, regional and country breakdowns, competitive landscape, market shares, and strategy insights. The report provides a comprehensive overview of the market, including historical and predictive growth by geography, market characteristics, and explanations. As the report notes, "the report is accessible in PDF, Word, and an Excel Data Dashboard for comprehensive insights."
https://uk.finance.yahoo.com/news/ai-optical-coherence-tomography-market-152700434.html
