Optical Imaging Market
Number of pages: 100 | Report Format: PDF | Published date: January 28, 2022
Historical Years – 2018 & 2019 | Base Year – 2020 | Forecasted Years – 2021-2031
|
Report Attribute |
Details |
|
Historical Period |
2018 & 2019 |
|
Base Year for Estimation |
2020 |
|
Forecast Period |
2021-2031 |
|
Market Size in 2020 |
US$ 1.73 billion |
|
Market Size in 2031 |
US$ 5.9 billion |
|
CAGR |
11.8% |
|
Segments Covered |
Products & Services, Technology, Application, End User, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global optical imaging market was valued at US$ 1.73 billion in 2020 and is expected to register a revenue CAGR of 11.8% to reach US$ 5.9 billion by 2031.
Optical Imaging Market Fundamentals
Optical imaging is a non-invasive technique that uses light and the properties of photons to generate detailed images of organs, tissues, and cells. The wavelength of light used in optical imaging can range from ultraviolet to near-infrared. Optical imaging is mostly used for measuring multiple properties of soft tissue. This technique can also be combined with other imaging modalities, such as X-rays or MRI, to provide enhanced information for doctors.
Applications of optical imaging include a study of small-animal models, disease diagnostics, drug development, and study of the effects of a therapy. Clinical usage of optical imaging is increasing, especially for studying gynecologic malignancies. It can also be used for the detection of ovarian cancer, lymphoma, and intestinal adenoma.
[324343]
Optical Imaging Market Dynamics
The global optical imaging market is driven by rising geriatric population, increasing prevalence of cancers, growing applications in preclinical studies, and increasing adoption of the diagnostic technique owing to its minimally invasive nature.
However, high cost of advanced systems and lack of skilled professionals to operate these systems are likely to restrain the market revenue growth to a certain extent.
Optical Imaging Market Ecosystem
The global optical imaging market is analyzed based on six parameters: product, technique, therapeutic area, application, end user, and region.
Optical Imaging Market by Product
[32323]
Based on the product, the optical imaging market is segmented into imaging systems, cameras, lenses, illumination systems, software, and other optical imaging products.
The imaging systems segment is sub-segmented into optical imaging systems and spectral imaging systems. The imaging systems segment accounted for the largest revenue share of the optical imaging market in 2020. This can be attributed to increasing applications of optical imaging in preclinical and clinical research, disease diagnosis, and drug discovery and development.
Optical Imaging Market by Technique
Based on the technique, the optical imaging market is segmented into optical coherence tomography, hyperspectral imaging, photoacoustic tomography, and near-infrared spectroscopy.
The optical coherence tomography segment accounted for the largest market revenue share in 2020, owing to increasing adoption of this technology in preclinical and clinical applications.
Optical Imaging Market by Therapeutic Area
Based on the therapeutic area, the market is segmented into ophthalmology, neurology, cardiology, oncology, dermatology, and others.
The oncology segment is projected to register robust revenue growth during the forecast period. Rising incidences of cancer and increasing R&D activities focused on the development of cancer treatment solutions are expected to fuel revenue growth in the oncology segment during the forecast period.
Optical Imaging Market by Application
Based on the application, the market is segmented into pathology imaging, intra-operative imaging, and preclinical & clinical research.
The pathology imaging segment is projected to register the highest revenue CAGR during the forecast period. Rise in cases of chronic infectious diseases and growth in the demand for diagnostic procedures are expected to boost revenue growth in the segment.
Optical Imaging Market by End User
Based on the end user, the market is segmented into hospitals & clinics, research & diagnostic laboratories, and the pharmaceutical & biotechnology industry.
The hospitals and clinics segment accounted for the largest revenue share of the optical imaging market, due to increase in the usage of optical imaging methods at these facilities.
Optical Imaging Market by Region
Based on the region, the global optical imaging market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW).
North America accounted for the largest revenue share of the global optical imaging market in 2020. Rising geriatric population, increasing incidence of cancer, and greater usage of optical imaging in clinical and preclinical applications are projected to fuel revenue growth in this region.
Optical Imaging Market Competitive Landscape
The prominent players operating in the global optical imaging market include: -
Optical Imaging Market Strategic Developments
The global optical imaging market was valued at US$ 1.73 billion in 2020.
The optical imaging market is projected to reach US$ 5.9 billion by 2031.
Rising geriatric population, increasing prevalence of cancer, growing applications in preclinical studies, and increasing usage as a minimally invasive diagnostic technique are propelling revenue growth in the global market.
Carl Zeiss Meditec AG, Abbott, Topcon Corporation, Canon Inc, and Koninklijke Philips N.V. are among the prominent players operating in the global market.
The optical imaging market is expected to register a revenue CAGR of 11.8% between 2021 and 2031.
North America accounts for the largest revenue share of the global optical imaging market.
*Insights on financial performance is subject to availability of information in public domain