Global Optical Coherence Tomography Market By Product Type (Spectral Domain (SD) OCT Systems, Fourier Domain (FD) OCT and Others), By Application (End-Product Quality, Non-Destructive Testing (NDT)and Others) and By Regions - Global Forecast to 2030

“Global Optical Coherence Tomography Market” is the title of a recently published market report compiled by MarketResearch.Biz. The report contains information and data, and inputs from both primary and secondary data sources, that have been verified and validated by experts in the target market. The report presents a thorough study of revenues, historical data, and information, key developments, and strategies by major players that offer vital insights and perspectives in to various scenarios market. Besides critical data and related information, the report includes key trends (both present and future), factors that are driving market growth, factors that are or could be potential restraints to market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions and countries. It also covers threats or challenges for existing as well as new entrants in the market. The global optical coherence tomography market has been segmented on the basis of product type, application, as well as regions and countries.

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The Global Optical Coherence Tomography Market was valued at UЅD $54.27 Мn in 2020, and is projected to achieve a valuation of UЅD $116.90 Мn by 2030, at a САGR of 8.8%.

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Overview:

Optical Coherence Tomography (OCT) is an imaging technique that uses low-coherence light to capture micrometer-resolution, two-, and three-dimensional images from within optical scattering media. It is used for medical imaging and industrial nondestructive testing.

Dynamics:

The commercial OCT plays a pivotal role in the offering high flexibility and throughput for various semiconductor and automotive industry applications, resulting in higher production rates. And, the steady expansion of these aforementioned sectors is expected to subsequently boost product demand, thereby in the process, boosting market growth opportunities for the global optical coherence tomography market in the foreseeable future. Moreover, the increasing number of non-medical end-use industry applications such as in welding, textiles, semiconductors, etc., is also a factor that is expected to further compliment the revenue growth of the global optical coherence tomography market in the near future.

In addition, the potential implementation of the versatile and powerful OCT for inline process control and non-destructive quality control applications in the polymer manufacturing sector is also a factor that is slated to have a significant impact on the revenue growth of the global optical coherence tomography market in the coming years.

However, in light of the recent COVID-19 outbreak, the operations of numerous industries have either been temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The global optical coherence tomography market is no different, and this factor is anticipated to have an immensely negative impact on the revenue growth of this industry. Moreover, the lack of precise product knowledge, the presence of unskilled labor, the inadequate supply of raw materials, etc., are also some factors that may hinder the revenue growth of the global optical coherence tomography market over the forecast period.

Nonetheless, increasing investments being made by key industry players towards the development of various advancements such as the implementation of computational imaging to improve resolution, etc., is another factor that is anticipated to further augment revenue growth opportunities for the global optical coherence tomography market in the foreseeable future.

Segmentation of the Global Optical Coherence Tomography Market is as follows:

In terms of product type, the spectral domain (SD) OCT systems segment accounted for the maximum number of revenue shares of the global optical coherence tomography market in 2020, and is expected to continue doing so over the forecast period. The OCT consumables & accessories segment is also anticipated to index a high CAGR over the next 10 years.

With regards to application, the end-product quality segment accounted for the majority number of revenue shares of this global industry in 2020, and is slated to index considerable revenue growth over the forecast period. However, the non-destructive testing segment is expected to register the highest CAGR in the coming years.

Regional Segmentation and Analysis:

North America accounted for the maximum number of revenue shares of the global optical coherence tomography market in 2020, and is indicative of remaining this industry’s front-runner over the next decade. However, the markets in the Asia Pacific region are anticipated to index the highest CAGR over the course of the forecast period.

Segmentation of the Global Optical Coherence Tomography Market:

Segmentation by Product Type:

• Spectral Domain (SD) OCT Systems
• Fourier Domain (FD) OCT
• Fiber-Based OCT Systems
• OCT Consumables & Accessories
• OCT Software

Segmentation by Application:

• End-Product Quality
• Non-Destructive Testing (NDT)
• Material Surface/ Thickness Measurement
• Topography
• Defect Detection
• 3D Dimension Measurement
• Color Inspection
• Volume Loss Measurement

Segmentation by Regions:

• North America
• Europe
• APAC
• Latin America
• MEA