Global Optical Imaging Market to reach USD 3.70 Bn by 2029 a report by MMR

The Global Optical Imaging market size reached USD 2.60 billion in 2021 and is expected to reach USD 3.70 billion by 2029 Optical Imaging, growing at a CAGR of 4.5% during the forecast period. Optical imaging is a new technology that has the potential to improve disease prevention, diagnosis, and treatment in the operation room. Optical imaging has the capacity to differentiate between soft tissues and damaged tissues. The capacity of optical imaging to distinguish between healthy and infected tissues is providing a big potential in the medical diagnosis sector. Furthermore, optical imaging uses non-ionizing radiation, which considerably reduces patient radiation exposure as compared to the other adverse impacts of radiation-based imaging. Doctors are using images to diagnose and treat various diseases, and scientists use them to do a variety of research activities. Optical imaging has been shown to be much safer and more efficient as compared to MRI and X-ray. This feature allows the patient to undergo repeated examinations over time. The healthcare sector is investing heavily in this technology as the demand for effective solutions and a focus on early disease detection increases. The rising frequency of neurological and ophthalmological disorders in the population may increase demand for imaging diagnosis fueling the market growth. North America is one of the most prominent regions that is heavily investing in the healthcare industry which is a key factor driving the global optical imaging market growth. Carl Zeiss Meditec AG (Germany) led the worldwide optical imaging market in 2021. The company provides a diverse product portfolio of optical imaging systems, primarily (OCT systems) for ophthalmic applications, which includes a wide variety of clinical tools for the diagnosis and treatment of eye diseases. The firm is growing its R&D spending in optical technology to strengthen its market position. The firm has a global production and distribution footprint, enabling it to provide services in the Americas, Africa, Europe, the Middle East, and Asia Pacific. Optical Imaging MarketTo know about the Research Methodology :- Request Free Sample Report

Optical Imaging Market Dynamics:

Technological advancements are expected to drive the Optical Imaging market penetration According to the World Health Organization, the population above 65 has grown rapidly. The increasing incidence of neurological and ophthalmologic disorders, rising R&d activities in the life sciences sector, preclinical research, and rising demand for radiation-free imaging modalities in drug development procedures are the key factors driving the growth of the optical imaging market. Optical coherence tomography (OCT) is a well-established method that is widely utilized in ophthalmology. It is used by eye-care professionals to better understand and diagnose retinal problems. Scientists are discovering new applications for OCT in dermatology, aesthetics, and cancer detection and treatment. Several advancements and innovations in the field of optical imaging have occurred over the years. OCT technology has improved from time-domain OCT to frequency-domain OCT, which provides greater speed and allows for quick 30 pullback imaging during the administration of an optically transparent medium or radiocontrast. Improved scanning speed, resolution, reproducibility, and the availability of updated software and normative databases have increased the application areas of OCT systems in clinical diagnostics. Imaging of cellular structures to the level of nerve fiber layers and ganglion cell complexes has become possible as a result of this. The advancement of newer technologies such as optical coherence tomography angiography (OCTA) has brought a brand-new level of patient care and management. Optical Imaging MarketGrowing applications in pharmaceutical and biotechnology research Optical imaging is increasingly being used in preclinical research phases to acquire a better knowledge of protein interactions, protein degradation, and protease activity. It is also widely used to track disease development during therapy and to assess treatment efficacy. With these applications, pharmaceutical and biotechnology companies, academic institutions, and research groups are increasingly using optical imaging techniques. Currently, research universities and research departments of large pharmaceutical and biotechnology firms are among the most significant end users of imaging devices. It is estimated that pharmaceutical and biotechnology companies accounted for around 30% of the preclinical imaging industry, while academic institutes and government organizations accounted for 70%. In addition, the growing number of collaborations and Partnerships between academic institutes and companies are increasing the number of clinical trials, which is expected to provide more revenue growth opportunities for market players in the coming years. Emerging markets such as India, China, Japan, and Brazil are expected to offer significant growth opportunities for players in the optical imaging technology market. According to World Economic Forum 2020 estimates, these rising economies contributed almost one-third of global healthcare expenditure. Small and medium-sized players' sustainability in Global Optical Imaging Market Increasing market competitiveness is key to growth for the optical imaging systems market, particularly for small and mid-tier enterprises. Although a few companies dominate the optical imaging market, such as PerkinElmer, Inc., Carl Zeiss Meditec AG, and Abbott Laboratories, new entrants and mid-tier organizations are always striving for a larger market share and visibility. However, the greater costs and longer time required for the development of optical imaging devices offer a significant barrier for such companies. As a result, many companies are experiencing difficulty keeping up with the industry pace and maintaining their positions. Many of these firms recently stopped their new product development initiatives owing to financial constraints or are acquired by bigger market players. The increased competition in the imaging systems industry has also put downward pressure on pricing, particularly in the OCT sector, which accounts for nearly 70% of the imaging systems market. This has an impact on the top-line profits of small and medium-sized imaging system manufacturers. Shortage of skilled operators in Global Optical Imaging Market Optical imaging is an advanced diagnostic imaging tool that requires skilled operators to use it effectively. At the present, there is a shortage of qualified operators, particularly in developing nations, which is hampering the use of optical imaging for clinical diagnostic applications. Furthermore, the technological landscape of the optical imaging market is rapidly changing, with an increasing number of advanced products being launched every year. This necessitates physicians and other healthcare providers to obtain the necessary skills to effectively operate advanced imaging systems. Physicians and healthcare providers are delaying the adoption of advanced imaging systems because of this reason which is expected to hamper the market's growth during the forecast period.

Optical Imaging Market Segment Analysis:

By Application, the intra-operative imaging segment in Global Optical Imaging Market is expected to develop at the fastest CAGR. intraoperative imaging systems help in image-guided surgery procedures. Image-guided procedures employ imaging to find and target diseased tissue as well as regulate and monitor therapies during surgery. Craniotomies use intraoperative imaging targeting methods (tumor, vascular, seizures, Chiari, and skull-based stereotactic). Several reasons, including the increasing requirement for reproducibility and accuracy in medical procedures, rising labor costs, and rising money & grants from government and commercial bodies for intraoperative system research and development are fueling the intraoperative imaging market's growth. By Techniques, the imaging systems segment in Global Optical Imaging Market is expected to grow at the highest CAGR owing to the increasing use of imaging systems across a broad range of applications for the diagnosis of diseases. The ability of optical imaging to span large spatial imaging scales spanning from cells to organ systems has reignited interest in adopting this technology for medical imaging. O optical imaging provides a variety of contrast mechanisms for distinguishing normal from pathologic processes and tissues. Optical Imaging MarketBy Therapeutic Area, the Oncology segment held the highest Global Optical Imaging Market share of more than 34%. This is due to the advantages of high sensitivity, low cost, high resolution, and the ability to sense both biochemical and structural tissue characteristics. The technology is also gaining popularity since it is non-invasive and assists in cancer diagnosis. By Techniques, Optical coherence tomography (OCT) is used in a variety of scientific and therapeutic applications. OCT provides in-situ and real-time high-resolution cross-sectional imaging of tissue structures on the microscale. OCT is a three­dimensional non­invasive real­time imaging technique based on modern photonics and fiber optics technology. OCT imaging of optically scattering, non-transparent tissues has become possible because of recent technical improvements. This has enabled the use of OCT in a variety of biological applications.

Optical Imaging Market Regional Insights

North America dominated the worldwide optical imaging market, followed by Europe. The region's increasing use of optical imaging technologies in many applications such as ophthalmology, dentistry, and dermatology is a key factor driving the growth of the North American market. This region also has a high geriatric population that suffers from a variety of illnesses that require the use of optical imaging devices. The region is also seeing a rise in investments, research and development activities, and technical developments in the life sciences industry. The funding would be used to ensure that customers are prepared for the FDA's anticipated recommendations, which would encourage a shift from existing procedures to new technologies. Such developments are expected to support the growth of the market by accelerating the adoption of new technologies such as optical imaging, which will help the growth of the Optical Imaging market. Asia Pacific region has the largest market share and dominates the Optical Imaging market due to the increased demand for non-invasive procedures and non-ionizing imaging modalities, particularly among the elderly population. The increased use of optical imaging modalities for therapeutic and diagnostic reasons such as disease diagnostics, preclinical research, and discrete molecular and cellular process imaging is expected to drive market growth. Diffuse optical tomography (DOT) and imaging are growing fast in the region. They are non-invasive methods that use near-infrared light to assess tissue characteristics such as total hemoglobin concentration and blood oxygen saturation. Because of their effectiveness in soft tissue, the methods are often used for breast cancer imaging, functional brain imaging, stroke detection, photodynamic treatment, and radiation therapy monitoring. The Optical Imaging Market report forecasts revenue growth at global, and country levels and provides an analysis of the latest industry trends in each of the sub-segments during the forecast period. MMR has segmented the global Optical Imaging Market report based on Application, Products, Therapeutic Area, Techniques, and region. The report contains strategic profiling of top key players in the market, a wide-ranging analysis of their core competencies, and their strategies like new product launches, growths, agreements, joint ventures, partnerships, and acquisitions that apply to the businesses. Our team of analysts can also provide you with data in excel files and pivot tables or can assist you in creating presentations from the data sets available in the report.

Optical Imaging Market Scope: Inquire before buying

Optical Imaging Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2029
Historical Data: 2017 to 2021 Market Size in 2021: US $ 2.60 Bn.
Forecast Period 2022 to 2029 CAGR: 4.5% Market Size in 2029: US $ 3.70 Bn.
Segments Covered: by Application • Pathological • Intra-operative
by Products • Imaging System • Camera • Lens • Software
by Therapeutic Area • Ophthalmology • Oncology • Neurology • Dermatology
by Techniques • OCT • NIRS • HIS • PAT

Optical Imaging Market, by Region

• North America • Europex • Asia Pacific • Middle East and Africa • South America

Optical Imaging Market Key Players

• Carl Zeiss Meditec AG • Bioptigen, Inc. • Topcon Medical Systems, Inc. • St. Jude Medical, Inc. • Canon, Inc. • PerkinElmer, Inc. • Abbott, Bioptigen, Inc. • Heidelberg Engineering, Inc. • Santec Corporation • Headwall Photonics, Inc. • AGFA Healthcare • Headwall Photonics, Inc. • Optovue, Inc. • Leica Microsystems • Agfa-Gevaert NV • ASE Optics, Inc. • ChemImage Corporation • Cytoviva Inc. • Raytheon ELCAN Optical Technologies • Somanetics Corporation • Koninklijke Philips N.V. • Medtronic • ChemImage Corporation • CytoViva, Inc. • VOLCANO CORPORATION FAQs: 1. Who are the key players in the Optical Imaging market? Ans. Topcon Medical Systems Inc., Volcano Corporation, and Optical Imaging Ltd. are some of the market players in the Optical Imaging industry. 2. Which Product segment dominates the Optical Imaging market? Ans. The Imaging System segment accounted for the largest share of the global Optical Imaging market in 2021. 3. Which Techniques segment of the global Optical Imaging market is expected to witness the highest growth? Ans. The OCT segment accounted for the highest revenue owing to its use in a variety of scientific and therapeutic applications. 4. How big is the Optical Imaging market? Ans. The global Optical Imaging market size reached USD 2.60 billion in 2021 and is expected to reach USD 3.70 billion by 2029 Optical Imaging, growing at a CAGR of 4.5% during the forecast period. 5. What are the key regions in the global Optical Imaging market? Ans. Based On the region, the market has been classified into North America, Europe, Asia Pacific, Middle, East and Africa, and Latin America. North America dominates the global Optical Imaging market.
1. Global Optical Imaging Market: Research Methodology 2. Global Optical Imaging Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to the Global Optical Imaging Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Optical Imaging Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Optical Imaging Market Segmentation 4.1 Global Optical Imaging Market, by Product (2021-2029) • Imaging System • Camera • Lens • Software 4.2 Global Optical Imaging Market, by Application (2021-2029) • Pathological • Intra-operative 4.3 Global Optical Imaging Market, by Therapeutic Area (2021-2029) • Ophthalmology • Oncology • Neurology • Dermatology 4.4 Global Optical Imaging Market, by Techniques (2021-2029) • OCT • NIRS • HIS • PAT 5. North America Optical Imaging Market(2021-2029) 5.1 North America Optical Imaging Market, by Product(2021-2029) • Imaging System • Camera • Lens • Software 5.2 North America Optical Imaging Market, by Application (2021-2029) • Pathological • Intra-operative 5.3 North America Optical Imaging Market, by Therapeutic Area (2021-2029) • Ophthalmology • Oncology • Neurology • Dermatology 5.4 North America Optical Imaging Market, by Techniques (2021-2029) • OCT • NIRS • HIS • PAT 5.5 North America Optical Imaging Market, by Country (2021-2029) • United States • Canada • Mexico 6. Europe Optical Imaging Market (2021-2029) 6.1. European Optical Imaging Market, by Product(2021-2029) 6.2. European Optical Imaging Market, by Application (2021-2029) 6.3. European Optical Imaging Market, by Therapeutic Area (2021-2029) 6.4. European Optical Imaging Market, by Techniques (2021-2029) 6.5. European Optical Imaging Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Optical Imaging Market (2021-2029) 7.1. Asia Pacific Optical Imaging Market, by Product(2021-2029) 7.2. Asia Pacific Optical Imaging Market, by Application (2021-2029) 7.3. Asia Pacific Optical Imaging Market, by Therapeutic Area (2021-2029) 7.4. Asia Pacific Optical Imaging Market, by Techniques (2021-2029) 7.5. Asia Pacific Optical Imaging Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Optical Imaging Market (2021-2029) 8.1 Middle East and Africa Optical Imaging Market, by Product(2021-2029) 8.2. Middle East and Africa Optical Imaging Market, by Application (2021-2029) 8.3. Middle East and Africa Optical Imaging Market, by Therapeutic Area (2021-2029) 8.4. Middle East and Africa Optical Imaging Market, by Techniques (2021-2029) 8.5. Middle East and Africa Optical Imaging Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Optical Imaging Market (2021-2029) 9.1. South America Optical Imaging Market, by Product(2021-2029) 9.2. South America Optical Imaging Market, by Application (2021-2029) 9.3. South America Optical Imaging Market, by Therapeutic Area (2021-2029) 9.4. South America Optical Imaging Market, by Techniques (2021-2029) 9.5. South America Optical Imaging Market, by Country (2021-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 Carl Zeiss Meditec AG 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Bioptigen, Inc. 10.3 Topcon Medical Systems, Inc. 10.4 St. Jude Medical, Inc. 10.5 Canon, Inc. 10.6 PerkinElmer, Inc. 10.7 Abbott, Bioptigen, Inc. 10.8 Heidelberg Engineering, Inc. 10.9 Santec Corporation 10.10 Headwall Photonics, Inc. 10.11 AGFA Healthcare 10.12 Headwall Photonics, Inc. 10.13 Optovue, Inc. 10.14 Leica Microsystems 10.15 Agfa-Gevaert NV 10.16 ASE Optics, Inc. 10.17 ChemImage Corporation 10.18 Cytoviva Inc. 10.19 Raytheon ELCAN Optical Technologies 10.20 Somanetics Corporation 10.21 Koninklijke Philips N.V. 10.22 Medtronic 10.23 ChemImage Corporation 10.24 CytoViva, Inc. 10.25 VOLCANO CORPORATION

About This Report

Report ID 8434
Category Healthcare
Published Date Oct 2022
Updated Date
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