Global Optical Imaging Market, By Technique (Optical Coherence Tomography, Near-Infrared Spectroscopy, Hyperspectral Imaging, Photoacoustic Tomography, Diffused Optical Tomography, Super Resolution Microscopy), Therapeutic Area (Ophthalmology, Oncology, Cardiology, Dermatology, Neurology, Dentistry, Others), Application (Pre-Clinical and Clinical Research, Pathological Imaging, Intra-Operative Imaging), End-User (Hospitals and Clinics, Research Laboratories, Pharmaceutical and Biotechnology Companies, Diagnostic Imaging Centres), Product (Imaging Systems, Cameras, Optical Imaging Software, Illumination Systems, Lenses, Other Optical Imaging Products) – Industry Trends and Forecast to 2029
Market Analysis and Size
Optical imaging is a rapidly evolving and emerging medical imaging technology that assesses the optical properties of various body tissues by utilising the light spectrum. This emerging technology has enormous potential for disease prevention, medical diagnosis and treatment, as well as life science and clinical research. Carl Zeiss Meditec AG introduced optical coherence tomography-based imaging devices in 1996, providing the world with its first optical imaging solution. There have been significant technological advancements in this field since its introduction, and as a result, several new technologies have been introduced in the global optical imaging market.
Data Bridge Market Research analyses that the optical imaging market is expected to reach the value of USD 4.01 billion by the year 2029, at a CAGR of 12.60% during the forecast period. The optical imaging market is driven by the increasing prevalence of eye disorders as a result of the ageing population.
Market Definition
Optical imaging is a method for non-invasively capturing images of the inner body components. For a clear picture of internal organs and tissues, visible light and photons are used. It also necessitates images of cells and molecules taken from larger structures. These images are used by physicians for disease diagnosis and treatment, as well as by researchers for a variety of research projects.
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Technique (Optical Coherence Tomography, Near-Infrared Spectroscopy, Hyperspectral Imaging, Photoacoustic Tomography, Diffused Optical Tomography, Super Resolution Microscopy), Therapeutic Area (Ophthalmology, Oncology, Cardiology, Dermatology, Neurology, Dentistry, Others), Application (Pre-Clinical and Clinical Research, Pathological Imaging, Intra-Operative Imaging), End-User (Hospitals and Clinics, Research Laboratories, Pharmaceutical and Biotechnology Companies, Diagnostic Imaging Centres), Product (Imaging Systems, Cameras, Optical Imaging Software, Illumination Systems, Lenses, Other Optical Imaging Products)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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| Market Players Covered | Cerner Corporation (US) Siemens Healthineers (Germany), McKesson Corporation (US), FUJIFILM Holdings Corporation (Japan), Medica Group Plc. (UK), Agfa Healthcare (Belgium), Mirada Medical (US), ONRAD Inc. (US), RamSoft Inc. (Canada), NovaRad Corporation (US), TeleDiagnostic Solutions Pvt. Ltd. (India), Teleradiology Solutions (India), Telerad Tech (India), StatRad LLC (US), MedWeb LLC (US), WebRad TeleRadiology (India), Nautilus Medical (US), 4ways Healthcare (UK), USARAD Holdings, Inc. (US), GE Healthcare (US). |
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Oppurtunities
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Optical imaging Market Dynamics
Drivers
- The broadening application areas of optical imaging
Rising technological innovations to drive greater market penetration is a critical factor driving market growth, as is the broadening application areas of optical imaging technologies, rising need to minimise the use of radiation technologies, rising demand to minimise the use of radiation technologies, rising affordable clinical trials, harmful effects of radiation-based imaging, rising research and development activities in the life sciences sector, and rising application areas of optical imaging technologies.
The growth in emerging economies
Rising expansion and market penetration growth in emerging economies, as well as increased application of optical imaging in pharmaceutical and biotechnology research, will create new opportunities for the optical imaging market during the forecasted period.
Regulatory Compliance
Maintaining compliance with medical reforms and regulations raises the demand for these solutions.
- Government investments
The increase in the funding by the federal government to drive the adoption of these solutions further influence the market. Additionally, the surge in healthcare expenditure, advancements in healthcare infrastructure, and high demand for expanded care delivery positively affect the optical imaging market.
.Restraints/Challenges
Government policies, a lack of skilled professionals, and expensive imaging processes are among the major factors that will obstruct market growth, while rising sustainability of small and medium-sized players, rising imposition of the medical device excise tax in the United States, and increased cost and extensive data requirements for launching new technologies will further challenge the growth of the optical imaging market during the forecast period mentioned above.
This optical imaging market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the optical imaging market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Optical Imaging Market
The COVID-19 pandemic increased the need for social distancing among doctors and other healthcare professionals. Many imaging and diagnostic departments have seen a rapid decrease in optical imaging case volumes as a result of COVID-19. The decline in optical imaging cases has serious implications for the short- and long-term economic stability of all practise settings. According to a study published in the Journal of the American College of Radiology (JACR), a nearly 28 percent decrease in total imaging volume was observed over a seven-week period during this global health crisis, when compared to 2019, and this included all patient service locations and imaging modality types. The pandemic's impact on the optical imaging market is still being felt in 2021, as hospitals and imaging facilities struggle to cope with the situation.
Recent Development
- Koninklijke Philips will collaborate with Rennes University in January 2021. (France)
- Carl Zeiss will collaborate with VIVO in December 2020. (China)
- Carl Zeiss will acquire arivis AG in December 2020. (Berlin)
- Enfocus will be released by Leica Microsystems in November 2020. (Intra-operative OCT Solutions)
- Canon's Middle East Division opened in Dubai in October 2019.
Global Optical Imaging Market Scope
The optical imaging market is segmented on the basis type of technique, therapeutic area, application, end-user and product.. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Imaging systems
- Cameras
- Optical imaging software
- Illumination systems
- Lenses
- Other optical imaging products
The optical imaging market is also segmented on the basis of product into imaging systems, cameras, optical imaging software, illumination systems, lenses and other optical imaging products. Cameras have been further segmented into optical imaging systems and spectral imaging systems.
Technique
- Coherence tomography
- Near-infrared spectroscopy
- Hyperspectral imaging
- Photoacoustic tomography
- Diffused optical tomography
- Super resolution microscopy
On the basis of technique, optical imaging market is segmented into optical coherence tomography, near-infrared spectroscopy, hyperspectral imaging, photoacoustic tomography, diffused optical tomography and super resolution microscopy.
Therapeutic area
- Ophthalmology
- Oncology
- Cardiology
- Dermatology
- Neurology
- Dentistry
- Others
Based on therapeutic area, the optical imaging market is segmented into ophthalmology, oncology, cardiology, dermatology, neurology, dentistry and others.
Application
- Pre-clinical and clinical research
- Pathological imaging
- Intra-operative imaging
Based on application, the optical imaging market is segmented into pre-clinical and clinical research, pathological imaging and intra-operative imaging.
End User
- Hospitals
- Radiology clinics
- Ambulatory imaging centres
- Others
- Pharmaceutical and biotechnology companies
- Diagnostic imaging centres
Based on end-user, the optical imaging market is segmented into Hospitals and clinics, research laboratories, pharmaceutical and biotechnology companies and diagnostic imaging centres.
Optical Imaging Market Regional Analysis/Insights
The optical imaging market is analysed and market size insights and trends are provided by country, technique, therapeutic area, application, end-user and product as referenced above.
The countries covered in the optical imaging market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the optical imaging market due to the region's growing research infrastructure, increased availability of skilled professionals, and faster adoption rates of technologically advanced devices. Due to less stringent regulatory guidelines, lower research costs, and increased government funding in respective countries in this region, Asia-Pacific is expected to be the fastest growing region in terms of optical imaging market growth.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The optical imaging market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for optical imaging market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the optical imaging market. The data is available for historic period 2010-2020.
Competitive Landscape and Optical Imaging Market Share Analysis
The optical imaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to optical imaging market.
Some of the major players operating in the optical imaging market are
- Philips Healthcare (Netherlands)
- Cerner Corporation (US)
- Siemens Healthineers (Germany)
- McKesson Corporation (US)
- FUJIFILM Holdings Corporation (Japan)
- Medica Group Plc. (UK)
- Agfa Healthcare (Belgium)
- Mirada Medical (US)
- ONRAD Inc. (US)
- RamSoft Inc. (Canada)
- NovaRad Corporation (US)
- TeleDiagnostic Solutions Pvt. Ltd. (India)
- Teleradiology Solutions (India)
- Telerad Tech (India)
- StatRad LLC (US)
- MedWeb LLC (US)
- WebRad TeleRadiology (India)
- Nautilus Medical (US)
- 4ways Healthcare (UK)
- USARAD Holdings, Inc. (US)
- GE Healthcare (US).
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