Number of pages: 100 | Report Format: PDF | Published date: 28 January, 2022
Historical Years – 2018 & 2019 | Base Year – 2020 | Forecasted Years – 2021-2031
The global optical imaging market was pegged at US$ 1.73 billion in 2020 and is expected to witness a CAGR of 11.8% during the forecast period.
Market Fundamentals
Optical imaging is a non-invasive technique that uses light and 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 studying small-animal models, disease diagnostics, drug development, and studying the effects of therapy. Nowadays, the clinical use 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.
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Market Dynamics
The global optical imaging market is mainly driven by the rising geriatric population, growing prevalence of cancers, growing applications in pre-clinical studies, and increasing use as a minimally invasive diagnostic technique. However, the high cost of advanced systems and the dearth of skilled professionals for operating these systems are likely to restrain the market growth to a certain extent.
Market Ecosystem
The global optical imaging market has been analyzed from six perspectives: Product, Technique, Therapeutic Area, Application, End User, and Region.
Optical Imaging Market by Product
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Based on the product, the optical imaging market has been segmented into imaging systems, cameras, lenses, illumination systems, software, and other optical imaging products. The imaging systems segment is further categorized into optical imaging systems and spectral imaging systems. Imaging systems held the largest share of the optical imaging market in 2020. The increasing applications of optical imaging in preclinical and clinical research, disease diagnosis, and drug discovery and development have played a key role in driving segmental growth.
Optical Imaging Market by Technique
Based on the technique, the optical imaging market has been segmented into optical coherence tomography, hyperspectral imaging, photoacoustic tomography, and near-infrared spectroscopy. The optical coherence tomography segment held the largest market share in 2020 owing to the increasing adoption of this technology in preclinical as well as clinical applications.
Optical Imaging Market by Therapeutic Area
Based on the therapeutic area, the market has been segmented into ophthalmology, neurology, cardiology, oncology, dermatology, and others. The oncology segment is projected to witness robust growth during the forecast period. Factors such as the rising incidence of cancer and increasing cancer research are expected to fuel the growth of the oncology segment during the forecast period.
Optical Imaging Market by Application
Based on application, the market has been segmented into pathology imaging, intra-operative imaging, and preclinical & clinical research. The pathology imaging segment is anticipated to grow at the highest CAGR during the projected period. The increasing incidence of chronic infectious diseases coupled with the rising demand for diagnostic procedures is expected to boost the segmental growth.
Optical Imaging Market by End User
The market has been segmented into hospitals & clinics, research & diagnostic laboratories, and the pharmaceutical & biotechnology industry based on end-user. The hospitals and clinics segment held the largest share of the optical imaging market relatively greater usage of optical imaging methods at these facilities.
Optical Imaging Market by Region
Based on the region, the global optical imaging market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America held the largest share of the global optical imaging market in 2020. The rising geriatric population, increasing incidence of cancer, and greater usage of optical imaging in clinical and preclinical applications are anticipated to fuel the growth in this region.
Competitive Landscape
Some of the prominent players operating in the global optical imaging market include:-
Strategic Developments
|
Report Attribute |
Details |
|
Historical Period |
2018 & 2019 |
|
Base year for estimation |
2020 |
|
Forecast period |
2021-2031 |
|
Market size in 2020 |
USD 1.73 billion |
|
Market size in 2031 |
USD 5.9 billion |
|
Growth Rate |
11.8% |
|
Segments covered |
Products & Services, Technology, Application, End User |
|
Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
The global optical imaging market was estimated to clock US$ 1.73 billion in 2020
The optical imaging market is projected to reach US$ 5.9 billion by 2031
The global optical imaging market is mainly driven by the rising geriatric population, growing prevalence of cancers, growing applications in pre-clinical studies, and increasing use as a minimally invasive diagnostic technique.
Carl Zeiss Meditec AG, Abbott, Topcon Corporation, Canon Inc, Koninklijke Philips N.V, Optovue, Inc, Leica Microsystems, Heidelberg Engineering GmbH, PerkinElmer Inc, Headwall Photonics, Inc.
The growth rate of optical imaging market is CAGR of 11.8% between 2021-2031
North America held the largest market share of the global optical imaging market in 2020
*Insights on financial performance is subject to availability of information in public domain
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