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Global Optical Imaging Market Analysis & Opportunity Outlook 2021

Published On : December, 2018 REP-ID-80 Category: Healthcare

Optical imaging is a medical technique which uses visible light to get detailed images of tissues, organs and even micro structures such as cells and molecules. The advancements in the technology have transformed the medical industry in a big way and optical imaging is one such example which has revolutionised the healthcare sector by effectively increasing the diseases detection.

Global optical imaging industry is envisioned to behold a compound annual growth rate (CAGR) of 12.3% to reach USD 1.8 Billion over the forecast period i.e. 2015-2021. Geographically, the global optical imaging market is segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific and Rest of World. At present, North America is believed to dominate the global optical imaging market followed by Europe.

Market Segmentation

By Technique

Based on technique, global optical imaging market can be segmented into: Endoscopy

  • Optical Coherence Tomography (OCT)
  • Photoacoustic Imaging
  • Diffuse Optical Tomography (DOT)
  • Terahertz Tomography

By Product

On the basis of product, global optical imaging market is segmented as Mydriatic and non-Mydriatic imaging systems, retinal cameras, slit lamp imaging systems and software.

  • By Therapeutic Area

Global optical imaging market is divided on the basis of therapeutic area into Oncology, Ophthalmology, Dermatology and Neurology.

  • By Applications

The global optical imaging market is segmented on the basis of applications into intra-operative and pathological)

Growth Drivers and challenges

Escalating demand of radiation free imaging techniques in biomedical and pharmaceutical industries is likely to foster the growth of global optical imaging market in future.

In addition to that rising prevalence of ophthalmological and neurological disorders is also believed to garner the growth of global optical imaging market.

However, high development and installation cost along with rigorous government regulations are expected to hamper the growth of optical imaging market over the forecast period i.e. 2015-2021.

Market Size and Forecast

North America optical imaging market is anticipated to expand from USD 403 Million in 2014 to USD 762 Million in 2021, registering a CAGR of 9.53%. Higher government spending on healthcare sector is one of the most prominent factors driving the growth of North America optical imaging market.

Further, Europe optical imaging market is believed to get sparked by rapid expansion of aging population in countries such as Spain, Germany, Italy, U.K., etc.

Coming down in Asia-Pacific, optical imaging market is expected to witness the highest growth rate over the forecast period. Optical imaging market in the region is likely to get propelled from sturdy GDP growth rate, increasing investments in healthcare infrastructure and rising population in countries such as India and China. In addition to that, expanding geriatric population in Japan is also expected to fuel the growth of Asia-Pacific optical imaging market over next 5-6 years.

Key Players

Global optical imaging market is very competitive and includes some of the top players such as St. Jude Medical, Leica Microsystems, Carl Zeiss Meditec AG, Bioptigen Inc., Headwall Photonics Inc., Raytheon ELCAN Optical Technologies, Somanetics Corporation, Abbott, Topcon Medical systems, Inc., Heidelberg Engineering, Inc.. 

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