Optical Imaging Market - Forecast (2024 - 2030)
The Optical Imaging Market size is valued at USD 2.55 billion in 2023 and is expected to reach a value of USD 4.5 billion by 2030 at a CAGR of 10.9% during the forecast period 2024-2030.?Optical Imaging refers to an imaging technology utilized to visualize the internal organs of the body non-invasively. This technique employs the use of visible light in order to obtain detailed images of organs and tissues as well as smaller structures including cells and even molecules. The images produced in such a manner are used for the disease diagnosis and its treatment by physicians. Optical imaging offers the potential to differentiate among soft tissues ascribed to the wide variety of ways different tissues absorb and scatter light. The increase in the number of ophthalmology disorders coupled with the rise of new end technologies in non-invasive methods of treatment is driving the market towards growth. The global Optical Imaging Market is estimated to grow with a CAGR of 10.9% during 2024-2030. The Optical Imaging market is segmented by products, by applications and by the end-users in this report. The market is also segmented by geography, which includes North America, South America, Europe, Asia-Pacific and the Rest of the World.
Optical Imaging Market Segment Analysis – By Product
The Optical Imaging Market is segmented by products such as OCT Imaging System, Spectral Imaging Systems,? PAT (Photo Acoustic Tomography) Imaging Systems, Diffuse Optical Tomography, Diffuse Optical Spectroscopy, Raman Spectroscopy, Endoscopy, Super Resolution Microscopy, Terahertz Tomography and Confocal Microscopy. The diverse array of numerous optical imaging products has brought new capabilities to biomedical research. Among others,?Photoacoustic Imaging and Super Resolution Microscopy are growing at a faster pace due to larger markets and less expensive technologies as compared to OCT.
Optical Imaging Market Segment Analysis – By Application
The Optical Imaging Market is segmented by its application that includes Optical Coherence Tomography(OCT) (Ophthalmology, Neurology, Oncology, Dentistry, Dermatology, Cardiology, Life Sciences and Clinical Research), Hyper Spectral Imaging (HSI) (Medical Diagnosis, Cardiovascular System Pathology, Ophthalmology, Surgical Guide) and Photo Acoustic Tomography (PAT) (Early-Stage Cancer Diagnosis, Atherosclerotic Plaques Identification, Others). The OCT segment held the largest market share due to its wide application in Ophthalmology, Neurology, Oncology, Dentistry, Dermatology, Cardiology, Life Sciences and Clinical Research. The OCT is an emerging technology that is widely adopted in diagnostics and detection by visualization and measurement of the topography of the optic nerves and retinal nerves.
Optical Imaging Market Segment Analysis – By End-user
Optical imaging finds its application across the industry and with different sets of users. There are basically four kinds of End Users; Clinics, Hospitals and Research Institutes. The Hospital segment generated the largest revenue since many hospitals install optical imaging systems to expedite the diagnosis process along with accuracy.
Optical Imaging Market Segment Analysis - By Geography/Country
The report comprises a region-wise study of the global market including America, Europe, Asia-Pacific and the Rest of the World. Among them, the Asia Pacific region is the most promising avenue for companies to invest and the next technological boom will occur in countries such as China, India and Japan. In 2023,the Asia Pacific region held the biggest share in the Optical Imaging market up to 32%.The Optical imaging market is going to benefit with the expansion in Asia Pacific, as the adult population is on the rise. The people in this age bracket are the primary target customers for companies, which will drive the growth of the Optical imaging market in this region.
Optical Imaging Market- Drivers
The major growth factor for driving Optical Imaging market is the numerous ranges of applications provided by the optical imaging devices in angiography, neurology, oncology and so on. Lots of pre-clinical studies utilize optical imaging techniques for better and fast diagnosis and treatment. Technological advancement such as fast optical imaging technique to reveal the time course of cortical responses, as well as speech processing, gives a cue to the rapidly developing technologies in optical imaging which are helping the market to grow. The use of fluorescent imaging with intraoperative optical imaging is a novel technology that is available at a reasonable cost thereby helping the market to grow.?
Optical Imaging - Competitive Landscape
Major companies in the global Optical Imaging Market profiled in this report include Optovue, Inc., ThorLabs, Inc., Lighthouse Imaging LLC, Optopol Technology Sp. z o.o., Koninklijke Philips N.V., Abbott Laboratories, Heidelberg Engineering GmbH, Topcon Corporation, Carl ZeissMeditec AG, Optos, Leica Microsystems GmbH and others.?Technology launches, acquisitions and R&D activities are key strategies adopted by the key players in the Optical imaging market.
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Optical Imaging - Recent Developments
l? In March 2022, Luneau Technology Group changed its name to Visionix and adopted a new visual identity and Optovue will transition to a product brand for Visionix’s OCT and OCTA line.
l? In February 2022, OPTOPOL announced the REVO FC 130, the all-in-one OCT and Fundus Camera. The device features a full-fledged, high-resolution OCT with hardware eye-tracking and true color fundus imaging. It offers ultimate versatility for time and space efficiency.
l? In August 2021, Abbott announced that it has received US Food and Drug Administration (FDA) clearance for its latest optical coherence tomography (OCT) imaging platform powered by the company’s new Ultron Software
Optical Imaging – Report Scope and Coverage
The base year of the study is 2023, with forecasts done up to 2030. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the Optical Imaging market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers and Optical Imaging manufacturing method analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the key global Optical Imaging Market players, to define, describe and analyze the sales value, market share, SWOT analysis and development plans in upcoming years.
l? By Product: OCT Imaging System, Spectral Imaging Systems, PAT (Photo Acoustic Tomography) Imaging Systems, Diffuse Optical Tomography, Diffuse Optical Spectroscopy, Raman Spectroscopy, Endoscopy, Super Resolution Microscopy, Terahertz Tomography and Confocal Microscopy.
l? By Application: Optical Coherence Tomography (OCT) (Ophthalmology, Neurology, Oncology, Dentistry, Dermatology, Cardiology, Life Sciences and Clinical Research), Hyper Spectral Imaging (HSI) (Medical Diagnosis, Cardiovascular System Pathology, Ophthalmology, Surgical Guide) and Photo Acoustic Tomography (PAT) (Early-Stage Cancer Diagnosis, Atherosclerotic Plaques Identification, Others).
l? By End-user:?Clinics, Hospitals and Research Institutes.
l? By Region: North America, South America, Europe, Asia-Pacific and Rest of the World.
Key Market Players:
The Top 5 companies in the Optical Imaging Market are: