According to research report the optical imaging market size by Product (Cameras, Lenses), Technique (OCT, HIS, NIR, PAT), Therapeutic Area (Ophthalmology, Dermatology, Oncology), Application (Pathological, Intraoperative), End User (Hospital, Research Labs) – Global Forecast to 2027″ projects that the optical imaging market will reach USD 2.9 billion by 2027, up from USD 1.5 billion in 2022, at a CAGR of 13.5%. Key factors driving this growth include an aging population, increased R&D in life sciences, and growing patient expectations for quick and accurate diagnosis and treatment.
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Growth Drivers in the Optical Imaging Market
Several factors are fueling the expansion of the optical imaging market:
- Aging Population: As the global population ages, there is a higher incidence of conditions that require advanced imaging for diagnosis and treatment.
- R&D Investments: Increased investments in research and development in life sciences are leading to innovations in imaging technologies.
- Patient Expectations: Patients today demand quicker and more accurate diagnostic methods, which optical imaging provides.
- Emerging Economies: Rapidly developing economies are expanding access to healthcare, contributing to market growth.
Product Segment Insights
In the optical imaging market, the imaging systems segment is anticipated to hold the largest market share. The demand for high-quality equipment and technologies is driving continuous development by market players. Non-invasive, non-contact optical imaging modalities with no harmful radiation are particularly in demand.
Following imaging systems, the camera segment is expected to see significant growth due to the increasing adoption of small-sized, high-resolution cameras for medical diagnostics.
Application Segment Insights
Pathological applications are projected to dominate the optical imaging market. The high demand for optical imaging systems in diagnosing eye disorders, tumor detection, cardiovascular diseases, and skin lesions is driving growth in this segment. Clinicians favor pathological imaging for its non-invasiveness, precise image capture capabilities, and lower operational costs.
Market Drivers and Opportunities
Increasing Prevalence of Eye Disorders
The rising geriatric population globally is a major driver of the optical imaging market. As people age, they become more susceptible to eye disorders such as glaucoma, cataracts, presbyopia, and age-related macular degeneration (AMD). For instance, Prevent Blindness (US) reports that 24.41 million people in the US had cataracts in 2010, with this number expected to rise to 50 million by 2050.
Opportunities in Emerging Economies
Emerging economies like India, China, Japan, and Brazil present significant growth opportunities. These countries are experiencing rapid economic growth and increased healthcare expenditure. The rising geriatric population and associated diseases further boost the demand for advanced optical imaging technologies.
Leading Players in the Market
Key players in the optical imaging market include Carl Zeiss Meditec (Germany), Abbott (US), Topcon Corporation (Japan), Canon (Japan), PerkinElmer (US), Koninklijke Philips (Netherlands), and many others. These companies are at the forefront of technological advancements and market innovations.
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Conclusion
The optical imaging market is poised for significant growth, driven by technological advancements, increasing prevalence of chronic diseases, and expanding healthcare access in emerging economies. As the demand for non-invasive and precise diagnostic tools continues to rise, market leaders are expected to innovate and expand their offerings, driving further market growth.
Related Links:
https://www.linkedin.com/pulse/optical-imaging-market-size-growth-drivers-regional-insights-singh–y9vnc/
https://www.prnewswire.com/news-releases/optical-imaging-market-worth-2-9-billion–marketsandmarkets-301756450.html
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
According to research report the optical imaging market by Product (Cameras, Lenses), Technique (OCT, HIS, NIR, PAT), Therapeutic Area (Ophthalmology, Dermatology, Oncology), Application (Pathological, Intraoperative), End User (Hospital, Research Labs) – Global Forecast to 2027″, is projected to reach USD 2.9 billion by 2027 from USD 1.5 billion in 2022, at a CAGR of 13.5%. The market is expanding as a result of factors such as an aging population, an increase in R&D in the life sciences, growing patient expectations for quick and simple diagnosis and treatment, rising information availability and knowledge, and expanding access to health care in Rapidly Developing Economies (RDE) are some other key factors influencing the market’s growth.
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Based on product, the imaging systems segment is expected to account for the largest share of the optical imaging market
Need for good quality equipments and technologies are increasing in recent times, leading to continuous development by market players. Growing competitiveness among players in the market calls for new improved systems and devices to be introduced in this market. Need for non invasive, non contact optical imaging modality with no harmful radiation is an additional factor influencing the market growth. Second to the imaging systems segment, is camera market. Small size, better sensitivity, and high-resolution imaging capability, are expected to drive the greater adoption of cameras for different medical diagnostics applications.
On the basis of application, pathological segment is expected to account for the largest share of the optical imaging market
One of the main drivers of market expansion in the pathological category is the high demand for optical imaging systems in the diagnosis of eye disorders, tumor detection, cardiovascular diseases, skin lesions, and other such illnesses. The popularity of optical imaging systems for pathological application is being fueled by non-invasiveness, precise image capture capabilities, and greater adoption in clinical practice, which is affecting market growth. Due to its low operational costs and relative ease of use, pathological imaging is widely used by clinicians worldwide. Specificity and efficacy of diagnosis is enhanced in this segment due to the use of optical imaging instruments.
DRIVERS: Increasing prevalence of eye disorders due to the rising geriatric population
The growing prevalence of eye disorders, owing to the rising global geriatric population, is one of the key factors driving the growth of the global market. The tear layer loses stability and degrades faster in the elderly, making them more prone to eye disorders. Therefore, the risk of getting severe eye disorders increases significantly with age, particularly after 60 years. Currently, the prevalence rate of glaucoma is four times higher in individuals aged 80 years and above as compared to those aged 40 years and above. Also, the prevalence rates of several other eye disorders, such as cataract, presbyopia, and age-related macular degeneration (AMD), is increasing across the globe. For instance, according to Prevent Blindness (US), 24.41 million people were suffering from cataracts in the US in 2010; this number is expected to increase to 50.0 million by 2050.
OPPORTUNITIES: Emerging economies
Emerging countries such as India, China, Japan, and Brazil are expected to provide significant growth opportunities for players operating in the global market. These countries are some of the fastest-growing economies in the world. According to estimates from the World Economic Forum, 2020, these emerging economies contributed to around one-third of the global healthcare expenditure. The rise in geriatric population and diseases associated with it are also certain factors that create high growth opportunities for the market.
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Key Market Players:
Prominent players in the optical imaging market include Carl Zeiss Meditec (Germany), Abbott (US), Topcon Corporation (Japan), Canon (Japan), PerkinElmer (US), Koninklijke Philips (Netherlands), Heidelberg Engineering (US), Leica Microsystems (Germany), Headwall Photonics (US), Visionix (US), Optical Imaging (Israel), Optos (Scotland), Wasatch Photonics (US), ArcScan (US), DermaLumics (Spain), Cylite (Australia), MOPTIM (Guangdong), Michelson Diagnostics (England), Thorlabs (US), Hamamatsu Photonics (Japan), iTheraMedical (Germany), Kibero (Germany), Seno Medical (US), Aspectus Imaging (Germany), and Agfa-Gevaert (Belgium).
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]