Optical imaging is a new non-invasive method for taking pictures of the body's internal organs. Visible light and photons are combined to capture a comprehensive image of inside organs and tissues. Images of tiny structures, such as cells and molecules, are also captured. The characteristics of organs and soft tissues are measured and perceived through optical imaging, which makes use of photon properties, including absorption and scattering. Although optical imaging technology is still in its infancy, it offers various technological advantages over existing imaging methods. Doctors use images to diagnose and treat various illnesses, while scientists use them for various research projects.
What is the Market Size of Optical Imaging in terms of value?
The optical imaging market is expected to expand significantly over the coming years, with a CAGR of 14.60%. According to estimates, the global market for optical imaging will be worth USD 1.4 billion in 2021 and USD 3.17 billion in 2028. The demand for optical imaging will probably increase significantly over the coming years. It is estimated to providerevenue potential for the major industry participants of USD 1.7 billion between 2022 and 2028.
Which is the key Imaging technique segment in the Optical Imaging Market?
The optical Coherence Tomography segment registered a revenue share of over55.0% of the total Optical Imaging in 2021. Optical coherence tomography (OCT) is employed in various clinical and research settings. OCT enables in situ and real-time high-resolution cross-sectional imaging of tissue features on the micron scale. Based on cutting-edge photonics and fiber optics technologies, OCT is a threedimensional, non-invasive, real-time imaging modality. Due to recent technological developments, it ispossible to image optically scattered, opaque tissues using the OCT technology, which holds the greatest market share worldwide in optical imaging. Becauseof this, OCT can now be used in various biomedical applications. This is because optical imaging technologies are increasingly used in diagnostic settings for intravascular imaging.
Interesting Facts about Optical Imaging Industry
The top countries in the Optical Imaging market are the US, Canada, China, Germany, Russia, and France.
The increase in government programs to combat vision impairment and the rise in the number of elderly people fuel market expansion.
Government regulations, a shortage of qualified workers, and expensive imaging procedures are some of the main hindrances to market growth.
The Asia Pacific region dominated the global optical imaging market in 2021.
Oncology to witness the highest growth during the forecast time.
Who are the Top players/companies in the Optical Imaging market regarding value?
The key players in the global Optical Imaging market in terms of value include PerkinElmer, Inc. (the US), Abbott (US), Carl Zeiss Meditec AG (Germany), Optical Imaging Ltd. (Israel), Heidelberg Engineering (US), Canon Inc. (Japan), Optovue Inc. (US), Topcon Corporation (Japan), Leica Microsystems (Germany), Koninklijke Philips N.V. (Netherlands), Optos (Scotland). These key players concentrate on new product developments and technicalinnovation to enhance their optical imaging output and gain a competitive market share internationally. A few local and National businesses are also investing heavily to diversify their product lines and increase sales. For instance, Rennes University and Koninklijke Philips joined in January 2021(France).
Who are the Top 10 Countries in the Optical Imaging Market?
The major countries in the global Optical Imaging market are China, Japan, Australia, South Korea, the U.S., India, Canada, the U.K., Germany, and France. China is the major market for Optical Imaging. Therefore, the The optical image market may have a promising future due tothe large patient pool, quicker adoption of healthcare technology, government initiatives to improve healthcare quality, the availability of favorable insurance policies, and market growth that may beaccelerated during the forecast period.
Which is the key Therapeutic Area used in the Optical Imaging Market?
The oncology category dominated the Optical Imaging market in 2021 with a total market share of more than 70.0%. The prevalence of cancer is an issue in global health that is only worsening. IARC predicts that by In 2030, there will be 21.7 million new cancer cases annually and 13 million cancer deaths. An older population, a higher prevalence of obesity, and environmental factors are all blamed for this rise. In addition, cancer is more common in women, and breast cancer is the malignancy that kills most women. Many cancers develop in the epithelium of hollow organs and ducts, head, and neck, including the breast, esophagus, colon, lung, pancreas, and stomach. Using optical imaging equipment, this thin layer of metabolic tissue may be thoroughly and swiftly evaluated in the clinic. These methods have several advantages for real-time cancer diagnosis, particularly in the epithelium of holloworgans and ducts. They employ a broad spectrum of light from visible to near-infrared. This emerging technology is medically beneficial for detecting early cancer by detecting worrisome lesions that would not otherwise be apparent. It serves as a guide for surgical excision and tissue biopsy. They can also be used to choose the best course of treatment and assess the efficacy of therapy.
What are the Major Driving Factors for Optical Imaging Market?
The main factors fueling the growth of the global optical imaging market are the rise in government activities to visual impairment and, the growing geriatric population, a number of diseases like neurology disorders, ophthalmic conditions, and cardiovascular conditions. Additionally, the market is expanding because of the rise in the prevalence of eye conditions such as glaucoma and cataracts. The market is being driven by several other factors as well, including the expansion of optical imaging technology applications, the need and demand to reduce radiation technology use, the rising cost of clinical trials, the harmful effects of radiation-based imaging, the level of research and development in the life sciences industry, andthe level of accessible clinical trials.
What are the Major Restraints for Optical Imaging Market?
Governmentregulations, a shortage of qualified workers, and expensive imaging procedures are some of the main hindrances to market growth. Rising small- and medium-sized player sustainability, rising medical device excise tax rates in the United States, higher costs, and extensive data requirements for introducing new technologies will all pose additional obstacles to market expansion during the forecast period mentioned above. One of the biggest obstacles to the optical imaging systems market, particularly for small and mid-tier businesses, is growing market competition.
Which Region Dominated the World Optical Imaging Market?
In 2021, Asia Pacific dominated the global Optical Imaging market and accounted for a major market revenue share. This is because conducting research is not expensive; there are good regulatory rules in place, andolder adults are more likely to get chronic illnesses. Another factor fueling market expansion throughout the projection period is the government's growing emphasis on the healthcare sector. The rapidly the growing healthcare sector in China and India is largely to blame for thesignificant APAC optical imaging market growth. Rising per capita income, increased investments by major market players in the Asia Pacific healthcare sector, growing need for cutting-edge technologies, expansion of private hospitals into rural areas, low labor costs, and rising demand for imaging techniques are additional factors driving market growth in this region.
Segmentation of Global Optical Imaging Market-
Global Optical Imaging Market – By Products Type
Imaging Systems
Cameras
Software
Lenses
Illumination systems
Other optical imaging systems
Global Optical Imaging Market – By Application
Pathological Imaging
Intra-operative Imaging
Global Optical Imaging Market – By Therapeutic Area
Ophthalmology
Oncology
Cardiology
Neurology
Dermatology
Others
Global Optical Imaging Market – By Imaging technique
Optical Coherence Tomography (OCT)
Near-infrared spectroscopy (NIRS)
Hyperspectral Imaging (HSI)
Photoacoustic Tomography (PAT)
Others
Global Optical Imaging Market – By End-User
Hospitals & clinics
Research Laboratories
Pharmaceuticals & Biotechnology companies
Global Optical Imaging Market – By Region
North America
U.S.
Canada
Europe
Germany
France
Italy
U.K.
Russia
Rest of Europe
Asia-Pacific
India
China
Japan
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
GCC Countries
South Africa
Rest of Middle East and Africa
Frequently asked questions about the Optical Imaging market.
The COVID-19 pandemic also affected the optical imaging market, which led to a decrease in revenue in 2020 due to the temporary suspension of numerous development projects and business partnerships by various industries.
Asia Pacific accounted for the highest share in the global Optical Imaging market.
The increase in government programs to combat vision impairment and the rise in the number of elderly people fuel market expansion.
Optical Coherence Tomography (OCT) had a major share in 2021.
The Oncology segment had a major share in the global market in 2021.
