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(Health-NewsWire.Net, October 27, 2021 ) According to the market research report Optical Imaging Market is projected to reach USD 3.3 billion by 2026 from USD 1.6 billion in 2021, at a CAGR of 14.8% during the forecast period.
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Factors such as the rising aging population, increasing research & development activities in the life sciences sector, and increasing applications of optical imaging techniques in drug discovery processes and preclinical research are fueling the growth of this market. However, high costs of instruments, stringent regulatory approval procedures, a dearth of skilled operators, and insufficient reimbursements for optical imaging procedures are factors posing several challenges to the overall growth of the market during the forecast period.
Based on technique, the optical imaging technologies market is broadly categorized into optical coherence tomography (OCT), hyper spectral imaging (HIS), near-infrared spectroscopy (NIRS), and photoacoustic tomography (PAT). The OCT technique commanded the largest share of the global market; this segment will continue to dominate the global market by 2026. The large share of this market can be attributed to its wide acceptance for research and clinical diagnostics in ophthalmology, oncology, cardiology, dermatology, neurology, and other clinical areas.
Based on products, the optical imaging market is divided into imaging systems, cameras, software, lenses, illumination systems, and others. The imaging systems segment dominated the market in 2020. The large share of this segment is mainly attributed to its wide applications in ophthalmology and rising adoption in medical diagnostics & clinical research.
Based on application, the optical imaging technologies market is divided into pathological imaging and intra operative imaging. The pathological imaging segment dominated the market in 2020. The large share of this segment is mainly attributed to the high-resolution imaging capabilities of optical imaging technologies, its non-invasive nature, and the increasing use of optical imaging in clinical applications.
Carl Zeiss Meditec AG (Germany), Abbott Laboratories (US), Topcon Corporation (Japan), Canon Inc. (Japan), PerkinElmer, Inc. (US), Koninklijke Philips N.V. (Netherlands), and Heidelberg Engineering (US) are the leading players in the optical imaging market. Leica Microsystems (Germany), Headwall Photonics, Inc. (US), Optovue Inc. (US), Optical Imaging Ltd. (Israel), Optos (Scotland), and Wasatch Photonics (Utah) are the other prominent players in the market.
Carl Zeiss Meditec AG
Carl Zeiss Meditec AG (Germany) held the leading position in the global optical imaging market in 2020. The company has a diversified product portfolio of optical imaging systems, majorly (OCT systems) for ophthalmic applications, which include a wide range of clinical tools for the diagnosis and treatment of eye diseases. The company was the first player to introduce time-domain OCT-based products for retinal, anterior segment/cornea, and optic nerve imaging. Its leading position in the optical imaging market can be attributed to its innovations in OCT systems. Over the years, the company has developed innovative products for various medical applications. The company’s products, such as Stratus OCT and Cirrus HD-OCT systems offer proficiencies and streamlined workflows that enable physicians to gather and interpret detailed disease information; they are also one of the most widely adopted clinical tools among ophthalmologists. In April 2019, the company launched the PLEX Elite 2.0, the first dual-speed swept-source OCT/OCTA that will scan at 200kHz, in addition to 100kHz, providing doctors a deeper and more detailed view into the retina, enabling visualization options for various diseases.
Topcon Corporation
Topcon Medical Systems, Inc. was the second-largest player in the global optical imaging market. The company has maintained its leadership position in the market through its strong distribution networks across North America, Europe, and the Asia Pacific (especially Japan and China). It focuses on acquisitions and partnerships as its key business strategies to ensure growth in the global optical imaging market.
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The APAC region is expected to grow at the highest CAGR of 16.7% during the forecast period, largely driven by rapid growth in the pharmaceutical & biotechnology industries in developing countries such as India and China, rising demand for biopharmaceuticals, and increasing applications of optical imaging techniques in research & clinical diagnostics applications.
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