Optical Imaging Market Size
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 11.40 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Optical Imaging Market Analysis
The optical imaging market is expected to witness a CAGR of 11.4%, during the forecast period, (2021 - 2026). Optical imaging is an emerging technology, with great potential for improving disease prevention, diagnosis, and treatment in the medical office or in the operating room.
- Optical imaging offers the potential to differentiate among soft tissues, and between the affected tissues. This ability of optical imaging to differentiate among the healthy and infectious tissues is creating a huge opportunity, in the medical diagnosis industry.
- Furthermore, optical imaging uses non-ionizing radiation, which significantly reduces patient radiation exposure, compared to other harmful effects of radiation-based imaging. This feature allows the patient for repeated studies over time.
- However, the market growth is restricted by factors, such as stringent regulatory approval procedures, high costs of instruments, scarcity of skilled operators, and insufficient reimbursements policies for the optical imaging procedures.
Optical Imaging Market Trends
This section covers the major market trends shaping the Optical Imaging Market according to our research experts:
Oncology Offers Potential Growth
- Cancer is a worldwide health-care concern that is steadily growing. According to IARC, by 2030, an annual incidence and mortality of 21.7 and 13 million cancer cases, respectively, are expected. This increase is attributed to an aging population, a greater prevalence of obesity, and environmental factors. Furthermore, women are more prone to cancer, with breast cancer as the leading cause of cancer death.
- Many cancers arise from the epithelium of hollow organs and ducts, including breast, colon, esophagus, head and neck, lung, pancreas, and stomach. This thin layer of highly metabolic tissue can be thoroughly and rapidly evaluated in the clinic, using methods of optical imaging techniques. These methods offer a number of advantages for real-time cancer detection, particularly in the epithelium of hollow organs and ducts, by using a broad spectral range of light that spans from visible to near-infrared.
- This emerging methodology is clinically useful for early cancer detection, by identifying and localizing suspicious lesions that may not otherwise be seen, and serves as a guide for tissue biopsy and surgical resection. They are also useful to determine the best choice of therapy, and to monitor efficacy.
- Therefore, the aforementioned factors are expected to help in curing cancer, which may result in the creation of a huge demand for optical imaging, worldwide.
Asia-Pacific to Witness the Fastest Growth
- The Asia-Pacific region is expected to be the fastest-growing market, with enormous possibilities. According to a report published by the department of neurology, it is estimated that out of the current population of 13.5 billion, approximately 30 million people suffer from neurological disorders, in India.
- Thus, owing to the huge patient pool, a faster adaptation of healthcare technology, government initiatives to increase the healthcare quality, availability of favorable insurance policies, and market growth may be accelerated during the forecast period, owing to which the optical image market may have a positive outlook.
- Furthermore, due to the lower cost of clinical trials and favoring government policies, key players have been setting up their regional headquarters and manufacturing plants in emerging economies, like Singapore, China, Korea, and India, which make a positive growth curve in the optical imaging market, in future.
Optical Imaging Industry Overview
The optical imaging market is fragmented, due to the presence of many international players.Canon Inc.,Topcon Corporation,Abbott Laboratories,are some of the major players operating in the global optical imaging market. Most of these players constantly innovate and develop technologically advancedoptical imaging devices and systems, to maintain their position in the global market.
- May 2019 - The optical society said that the researchersdeveloped a new compact, fiber-based imaging spectrometer for remote sensing that can capture 30,000 sampling points, and each containing more than 60 wavelengths. This rich spectral information, combined with high spatial resolution, providesvaluable insight into the chemical makeup of a scene or sample.The new spectrometer acquires spectral information instantaneously, without requiring any scanning. This allows it to image quickly-changing objects, such as moving targets or changing imaging conditions.
Optical Imaging Market Leaders
Canon Inc.
Topcon Corporation
Perkinelmer Inc.
Koninklijke Philips NV
Abbott Laboratories
*Disclaimer: Major Players sorted in no particular order
Optical Imaging Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Introduction to Market Drivers and Restraints
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4.3 Market Drivers
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4.3.1 Rising Demand for Non-invasive Procedures
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4.3.2 Availability to Give Enhanced Pictures to the Medical Practitioners, for Diagnosing Complex Diseases
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4.4 Market Restraints
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4.4.1 High Cost Factor Associated with the Products
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4.5 Industry Attractiveness - Porter's Five Forces Analysis
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4.5.1 Threat of New Entrants
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4.5.2 Bargaining Power of Buyers/Consumers
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4.5.3 Bargaining Power of Suppliers
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4.5.4 Threat of Substitute Products
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4.5.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Product
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5.1.1 Imaging Systems
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5.1.1.1 Optical Imaging Systems
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5.1.1.2 Spectral Imaging Systems
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5.1.2 Illumination Systems
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5.1.3 Lenses
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5.1.4 Software
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5.2 By Application
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5.2.1 Ophthalmology
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5.2.2 Dentistry
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5.2.3 Dermatology
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5.2.4 Cardiology
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5.2.5 Neurology
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5.2.6 Oncology
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5.2.7 Biotechnology and Research
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5.2.8 Other Applications
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5.3 By End User
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5.3.1 Diagnostic Imaging Center
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5.3.2 Hospitals
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5.3.3 Research Laboratories
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5.3.4 Other End Users
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5.4 Geography
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5.4.1 North America
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5.4.1.1 United States
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5.4.1.2 Canada
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5.4.2 Europe
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5.4.2.1 Germany
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5.4.2.2 United Kingdom
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5.4.2.3 France
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5.4.2.4 Rest of Europe
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5.4.3 Asia-Pacific
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5.4.3.1 China
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5.4.3.2 Japan
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5.4.3.3 India
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5.4.3.4 Rest of Asia-Pacific
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5.4.4 Latin America
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5.4.5 Middle East & Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 Abbott Laboratories
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6.1.2 Carl Zeiss Meditec AG
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6.1.3 Leica Microsystems (Bioptigen Inc.)
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6.1.4 Topcon Corporation
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6.1.5 Canon Inc.
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6.1.6 Heidelberg Engineering Inc.
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6.1.7 Headwall Photonics Inc.
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6.1.8 Optovue Inc.
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6.1.9 Perkinelmer Inc.
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6.1.10 Koninklijke Philips NV
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6.1.11 Agfa-Gevaert NV
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- *List Not Exhaustive
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7. INVESTMENT ANALYSIS.
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8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Optical Imaging Industry Segmentation
Optical Imaging is a technique used to assess the optical properties of tissues. The healthcare sector is witnessing a tremendous amount of investments in this technology, as the demand for effective solutions and focus on early diagnosis of diseases are rising. Furthermore, increasing the prevalence of neurological and ophthalmological disorders, among the population, may foster the demand for imaging diagnosis, which in turn may propel the market growth. North America is one of the most prominent regions that is highly investing in the healthcare sector, which is the key factor that is driving the global optical imaging market growth.
By Product | ||||
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Illumination Systems | ||||
Lenses | ||||
Software |
By Application | |
Ophthalmology | |
Dentistry | |
Dermatology | |
Cardiology | |
Neurology | |
Oncology | |
Biotechnology and Research | |
Other Applications |
By End User | |
Diagnostic Imaging Center | |
Hospitals | |
Research Laboratories | |
Other End Users |
Geography | ||||||
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Latin America | ||||||
Middle East & Africa |
Optical Imaging Market Research FAQs
What is the current Optical Imaging Market size?
The Optical Imaging Market is projected to register a CAGR of 11.40% during the forecast period (2024-2029)
Who are the key players in Optical Imaging Market?
Canon Inc., Topcon Corporation, Perkinelmer Inc., Koninklijke Philips NV and Abbott Laboratories are the major companies operating in the Optical Imaging Market.
Which is the fastest growing region in Optical Imaging Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Optical Imaging Market?
In 2024, the North America accounts for the largest market share in Optical Imaging Market.
What years does this Optical Imaging Market cover?
The report covers the Optical Imaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Optical Imaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Optical Imaging System Industry Report
Statistics for the 2024 Optical Imaging System market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Optical Imaging System analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.