Optical Imaging Market Size By Product (Imaging Systems, Camera, Software, Lenses, Illuminating Systems), By Application (Pathological Imaging, Intraoperative Imaging), By Therapeutic Area (Ophthalmology, Cardiology, Oncology, Dermatology, Neurology), By Technique, By End-use – Global Forecast, 2024 – 2032
Published Date: August - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationOptical imaging Market Size
Optical imaging market size was valued at over USD 1.9 billion in 2023 and is projected to grow at a CAGR of 10.2% from 2024 to 2032.
Optical imaging is a non-invasive technique for obtaining photographs of interior body components. Visible light and photons are employed to provide a clear image of internal organs and tissues. Images of cells and molecules obtained from bigger structures are also sought. These images are utilized by doctors to diagnose and cure diseases, as well as by researchers for a range of research projects. The increasing demand for imaging procedures in various medical applications, such as ophthalmology, cardiology, and oncology, is anticipated to drive the growth of the market.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Optical Imaging Market Size in 2023 | USD 1.9 Billion |
| Forecast Period | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR | 10.2% |
| 2032 Value Projection | USD 4.5 Billion |
| Historical Data for | 2018 - 2023 |
| No. of Pages | 195 |
| Tables, Charts & Figures | 423 |
| Segments covered | Product, Application, Technique, Therapeutic Area, End-use, and Region |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
Moreover, the growing prevalence of eye disorders due to the increasing geriatric population base is anticipated to augment the growing of the optical imaging market. For instance, according to the World Health Organization (WHO), approximately 2.2 billion people have a near or distance vision impairment. Modern lifestyles characterized by increased screen time, prolonged near work activities, and exposure to harmful environmental factors like pollution and UV radiation can contribute to the development of eye disorders.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Optical Imaging Market Size in 2023 | USD 1.9 Billion |
| Forecast Period | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR | 10.2% |
| 2032 Value Projection | USD 4.5 Billion |
| Historical Data for | 2018 - 2023 |
| No. of Pages | 195 |
| Tables, Charts & Figures | 423 |
| Segments covered | Product, Application, Technique, Therapeutic Area, End-use, and Region |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
COVID-19 Impact
The COVID-19 pandemic had a significant impact on the optical imaging market. The pandemic disrupted global supply chains, that led to shortages of medical products, including optical imaging. This caused price fluctuations and delayed delivery times, which impacted the availability of these products in some regions. There was a delay in optical imaging research and development activities because of the COVID-19 pandemic. As a result, COVID-19 hampered the expansion of the optical imaging industry.
Optical Imaging Market Trends
Advancements in optical imaging modalities have been a major driving force in the optical imaging industry. The development of enhanced optical imaging systems with better resolution, sensitivity, and specificity is continuously occurring. This includes the advancement of high-resolution microscopy methods such as super-resolution microscopy and light sheet microscopy, which allow for precise imaging of cellular structures and processes.
Moreover, the rising demand for non-invasive imaging is also propelling improvements in optical imaging technologies, such as the creation of novel imaging modalities, the integration of multimodal imaging techniques, and the application of artificial intelligence for improved picture processing and interpretation.
Optical Imaging Market Analysis
When it comes to different types of optical imaging products, they're divided intoImaging systems (like cameras) Software Lenses Devices that provide light (illuminating systems) Other stuff Imaging systems can be further broken down intoOptical imaging systems (which use regular light) Spectral imaging systems (which use different wavelengths of light) Out of all these products, imaging systems are the big earners. In 2022, they brought in over $400 million. And it's expected that by 2032, they'll be making over $1,100 million. That's mostly because doctors are using imaging systems more and more for things like eye exams, cancer screening, and other medical procedures. Plus, these systems can take really detailed pictures (even in 3D!) and show them in real time. So, it's no wonder that more and more people are going to be using them in the years to come.
Based on therapeutic area, the optical imaging market is bifurcated into ophthalmology, cardiology, oncology, dermatology, neurology, and others. The ophthalmology segment is anticipated to witness highest CAGR at 10.6% by 2032. Optical imaging techniques in ophthalmology are typically non-invasive, making them more patient-friendly. Therefore, optical imaging is more preferred in ophthalmology therapeutic area. Furthermore, the rising need for low-cost OCT equipment is contributing to the increased demand for ophthalmology. This technology is vital in the treatment of cataracts and other ocular illnesses.
The Rise of Optical Imaging for Detecting and Treating Diseases The field of optical imaging is growing rapidly, thanks to its ability to help doctors diagnose and treat diseases more accurately. Within the optical imaging market, there are two main typespathological imaging and intraoperative imaging. Pathological ImagingA Growing Market for Detecting Cancer and Other Conditions Pathological imaging is used to examine tissues and cells to identify disease. This segment has been the biggest part of the optical imaging market so far, and it's expected to keep growing over the next decade. This growth is being driven byMore people developing chronic diseases due to unhealthy lifestyles, like lack of exercise and poor diet An increasing number of older adults, who are more likely to develop certain diseases The rising consumption of processed foods, which can contribute to chronic illnesses According to the National Cancer Institute, there are an estimated 19.6 million cancer survivors in the U.S. alone, and that number is expected to grow to 22.2 million by 2030. This is a huge potential market for optical imaging technologies that can help diagnose cancer early on. Optical Imaging TechniquesVariety and Innovation Optical imaging involves different techniques, including photoacoustic tomography, optical coherence tomography, hyperspectral imaging, and near-infrared spectroscopy. Among these, optical coherence tomography (OCT) has been the most popular technique in the global market, accounting for over 45% of sales in 2022. It's estimated to continue growing and generate over USD 2,000 million by 2032. OCT technology has been improving rapidly, leading to better image quality, faster scanning speeds, and new features. Innovations like swept-source OCT (SS-OCT) and spectral-domain OCT (SD-OCT) offer even better imaging capabilities and can see deeper into tissues.
The optical imaging market is segmented by end-use into hospitals, research laboratories, and pharmaceutical & biotechnological companies. Hospitals segment dominated the global market accounting for more than 50% market share in 2022 and is estimated to witness significant revenue over USD 2,200 million by 2032. The high segment gains is attributable to the increased use of ophthalmological diagnostic imaging due to the rise in number of persons suffering from chronic illnesses and the surge in cancer screening procedures.
Wow! The market for optical imaging in the U.S. is booming, and it's only going to get bigger. In 2022, it was worth over half a billion dollars, and by 2032, it's projected to shoot up to over 1.3 billion dollars. Why the sudden increase? Well, it turns out that more and more Americans are living with chronic diseases like cancer, heart problems, and brain disorders. And these conditions often require advanced imaging, like optical imaging, to diagnose and treat. Plus, as the U.S. population ages, there's a growing need for healthcare services and diagnostic tools. One of the most widely used optical imaging techniques is called optical coherence tomography angiography (OCTA). It's a lifesaver for ophthalmologists, who use it to spot eye diseases like macular degeneration and diabetic retinopathy as people get older.
Optical Imaging Market Share
Some of the notable key industry players operating in the optical imaging industry include
- Koninklijke Philips
- Canon, Inc
- Carl Zeiss Meditec AG
- PerkinElmer, Inc
- St. Jude Medical Inc.
- Topcon Corporation
- Abbott Laboratories
- Olympus Corporation
- Heidelberg
- Engineering GmbH
- Kibero
- Leica Microsystems
- Headwall Photonics, Inc
Optical Imaging Industry News
- In January 2023, Canon Medical Systems USA Inc. announced partnership with Sclmage, Inc. The company offers cloud-native enterprise image management, image and PACS exchange solutions for the healthcare business. Such partnerships will help market players to strengthen its product portfolio and market position.
- In July 2021, Topcon Corporation acquired VISIA Imaging S.r.l. The company is one of the growing ophthalmic device manufacturers. This has helped the company to enhance its product portfolio and expand its market presence.
Optical imaging market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments
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By Product (USD Million)
- Imaging systems
- Optical imaging systems
- Spectral imaging systems
- Camera
- Software
- Lenses
- Illuminating systems
- Others
By Application (USD Million)
- Pathological imaging
- Intraoperative imaging
By Therapeutic Area (USD Million)
- Ophthalmology
- Cardiology
- Oncology
- Dermatology
- Neurology
- Others
By Technique (USD Million)
- Optical coherence tomography
- Near-infrared spectroscopy
- Hyperspectral imaging
- Photoacoustic tomography
By End-use (USD Million)
- Hospitals
- Research laboratories
- Pharmaceutical and biotechnological companies
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Poland
- Switzerland
- Norway
- Finland
- Sweden
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Indonesia
- Taiwan
- Vietnam
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Middle East & Africa
- Saudi Arabia
- South Africa
- UAE
- Israel
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