OCT Technology and Market

Goals

To get a summary of OCT technology, specifically a high level overview of the scientific principles, key performance metrics, and hardware & software properties of this technology; as well as its market size, key players, applications, trends, growth drivers and main products in the market.

Early Findings

Technology

  • OCT is a non-invasive imaging test. It uses light waves to take pictures of cross-sections of the retina.
  • It works similarly to ultrasound, using light waves instead of sound waves. Time-delay information reflects at different depths, allowing the OCT system to construct a depth profile of the sample.
  • OCT has other applications than optical. It can be applied to areas such as gastrointestinal and cardiovascular.
  • The instrumentation is two main components: time-domain OCT and spectral-domain OCT. Time-domain was initially more popular as it was easier to understand, but spectral-domain is replacing it as it offers better speed and sensitivity.
  • OCT can be integrated into fibre optics, which allows for endoscopic and catheter-based imaging to reach different parts.
  • Image resolutions of 1-15 µm should be achieved. Furthermore, new technology allows OCT to work through non-transparent tissue, meaning the resolution is 10-100 times finer than ultrasound.

Market

  • The OCT market is growing, predicted to see 8.9% CAGR through 2023. The 2018 was estimated to be $993.9 million.
  • Some key players of this market include "Alcon, Carl Zeiss AG, Terumo Corporation, Abbott Laboratories, B. Braun Melsungen AG, KONINKLIJKE PHILIPS N.V, Topcon Corporation, Boston Scientific Corporation, Novacam Technologies Inc, NIDEK Co., Ltd, Heidelberg Engineering GmbH, OPTOPOL Technology S.A, Michelson Diagnostics, Optovue, Agfa Healthcare, Thorlabs Inc., Imalux Corporation."
  • Europe and the Americas have the largest market share, but APAC is predicted to grow quickly.

Proposed next steps:

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