The global optical imaging systems market size is expected to reach USD 4.65 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 12.9% from 2022 to 2030. Technological advancements and a rise in the prevalence of ophthalmic disorders are anticipated to boost the growth of the market. Increasing adoption of optical imaging systems in preclinical and clinical studies in the biopharmaceutical and pharmaceutical sector for diagnostic and therapeutic purposes is further projected to drive the market in the years to come.
Optical Imaging Systems Market Report Highlights
- In terms of technology, the optical coherence tomography segment dominated the market in 2021 owing to the increasing adoption of the technology in the diagnostic field for intravascular imaging
- By product, the imaging systems segment dominated the market in 2021 owing to its wide application in ophthalmology. Moreover, the rising adoption of this system in clinical research and medical diagnostic has led to the growth of this segment
- On the basis of application, the pathological segment held the largest revenue share in 2021. This is due to the rise in the prevalence of chronic diseases owing to a surge in the adoption of a sedentary lifestyle
- Based on end use, the research labs segment dominated the market in 2021 owing to the increasing usage of optical imaging systems in the R&D sector
- On the basis of therapeutic area, the oncology segment dominated the market in 2021 owing to an increase in the adoption of optical imaging systems in cancer research and for early detection of the disease
- North America accounted for the largest revenue share in 2021 due to the availability of skilled professionals, increasing focus of the government on R&D activities, and faster adoption of technologically advanced products in this region
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Optical imaging systems is a minimally or non-invasive methods, and non-ionising technology, uses light and special properties of photons to gain detailed images of organs, tissues, cells and even molecules. It has a very high spatial resolution in the nanometre (nm) range & provide real time and quantitative information. Despite numerous advantages it has low penetration depth due to the strong scattering of light in biological tissues. The market observed a subsequent fall in overall sales during the first half of the pandemic. Various restrictions and guidelines imposed by the government that limited the use of optical imaging systems for diagnosis and treatment purposes affected the market growth negatively. However, with the economies opening up, the introduction of vaccines, and the increasing usage of optical imaging systems across different applications, the market is expected to witness stable growth and earn substantial profits during the forecast period.
The market growth was negatively affected during the pandemic due to a change in healthcare priorities, wherein the healthcare workers focused on the treatment of Covid-19 infected patients. The imposition of restrictions and lockdowns across the globe led to a halt in research and development activities at the start of the pandemic to avoid the spread of the virus. However, with the introduction of vaccines and economies returning to normalcy, the market has begun to recover and is expected to grow at an exponential rate, leading to significant growth during the forecast period.
Optical Imaging Systems Market Insights By Geographical Regions:
North America held the highest market share and dominated the market with a market share of around 35%. Factors such as the availability of skilled professionals, well-developed research infrastructure, and government initiatives to encourage technological advancement in the industry by offering investments and funds are promoting growth of the market in this region. The Asia Pacific region is expected to experience maximum growth during the forecast period. This is due to the low cost required for conducting research, favorable regulatory guidelines, and increasing geriatric population that is highly susceptible to developing chronic diseases.
Industry Share Analysis By Major Competitors:
Key manufacturers in the market are focusing on securing their position in the market by focusing on carrying out strategic acquisitions, partnerships, and launch of technologically advanced products. There is a threat of new mid or small-sized starts up that are mainly focusing on optical imaging technology. Some of the major players operating in the optical imaging systems market:
- Jude Medical Inc.
- PerkinElmer, Inc.
- Carl Zeiss Meditec AG
- Koninklijke Philips
- Topcon Corporation
- Bioptigen Inc.
- Canon, Inc.
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Optical Imaging Systems Market Segmentation
Grand View Research has segmented the global optical imaging systems market based on technology, product, application, end use, therapeutic area, and region:
Optical Imaging Systems Technology Outlook (Revenue in USD Million, 2017 – 2030)
- Photoacoustic Tomography
- Optical Coherence Tomography
- Hyperspectral Imaging
- Near-infrared Spectroscopy
Optical Imaging Systems Product Outlook (Revenue in USD Million, 2017 – 2030)
- Imaging Systems
- Optical; Spectral
- Optical Imaging Software
- Illumination Systems
- Other
Optical Imaging Systems Application Outlook (Revenue in USD Million, 2017 – 2030)
- Pathological
- Intraoperative
Optical Imaging Systems End Use Outlook (Revenue in USD Million, 2017 – 2030)
- Research Labs
- Hospitals & Clinics
- Pharmaceutical and biotechnological companies
Optical Imaging Systems Therapeutic Area Outlook (Revenue in USD Million, 2017 – 2030)
- Ophthalmology
- Cardiology
- Oncology
- Dermatology
- Neurology
Optical Imaging Systems Regional Outlook (Revenue in USD Million, 2017 – 2030)
- North America
- U.S.; Canada
- Europe
- U.K.; Germany; France; Italy; Spain
- Asia Pacific
- China; Japan; India
- Latin America
- Brazil; Mexico; Argentina
- Middle East and Africa
- Saudi Arabia; South Africa; UAE
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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