Global Optical Imaging Market to Reach $1.9 Billion by 2020

Optical Imaging Market Analysis: By Products (Optical Coherence Tomography (OCT) Systems, Hyper Spectral Imaging Systems, Photo Acoustic Tomography); By End Users (Hospitals, Clinics, Research Institutes): With Forecast (2015-2020)
IndustryARC says, Rise in ophthalmology disorders and upcoming newer application areas to drive the optical imaging market to reach $1.9 billion by 2020.

Optical imaging is an emerging technology having enormous potential to improve disease prevention, diagnosis and treatment non-invasively using various imaging techniques. Unlike radiological imaging, optical imaging significantly reduces patient exposure to radiations and thereby allows for repeated studies over time. The techniques that use optic rays to obtain the images from the inside structures of the body include mainly Optical Coherence Tomography (OCT), Photo Acoustic Imaging, Hyper Spectral Imaging among others.

Browse 63 Market Tables, 20 Figures spread through 167 Pages and an in-depth TOC on “Optical Imaging systems Market”:

OCT measures the light produced by the biological or chemical structures. Spectral domain/Fourier domain and time domain OCT have largely dominated the global optical imaging from past several years and is increasingly being employed in the diagnosis and management of age-related macular degeneration (AMD) apart from other applications. Hyper Spectral Imaging collects high resolution spectral details over a large spatial and broad wavelength region to produce much detailed information about the scene or target. The phenomenon of Photo Acoustic Imaging is based on Photo Acoustic effect where non-ionizing laser pulses are delivered into biological tissues to produce 3D imaging of a material.

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According to a recent study from IndustryARC, the global optical imaging market size was around $1 billion in 2014 and is growing at a CAGR of 11.3% from 2015 to 2020. Technological advancements coupled with increased prevalence of eye related diseases which is the main application area of these systems has driven the growth of the optical imaging market. Due to this factor, since the past decade, the optical imaging industry has witnessed introduction of various new products at a tremendous rate with new features. In the span of five years, optical imaging market trend has shifted from table-top systems to bed-side systems.

The global market for optical imaging currently has been led by the U.S. which is followed by Europe with market shares of 39% and 29%, respectively.  

Since the inception of optical imaging, Americas are the biggest adopters of these systems. The reason may be attributed to the favorable support by the government for research and higher adoption rates by the healthcare providers. Significant number of key manufacturers of optical imaging systems is also present in the Americas and Europe, contributing to the bigger pie of the market. The Asia-Pacific region represents substantial growth opportunities during the forecast period of 2015 to 2020. The APAC market is expected to grow at a double digit CAGR during the forecast period, due to an increased focus on healthcare, and rise in research in the biotechnology and pharmaceutical sectors. 

The Major Players in this optical imaging market include

  • Topcon Medical Systems, Inc.
  • Canon, Inc.
  • Carl Zeiss Meditec AG
  • Heidelberg Engineering, Inc.
  • Volcano Corporation

All the 5 companies hold a significant optical imaging market share in the industry globally with a few small players showing presence regionally. Also, all the major companies are focusing on manufacturing the optical imaging equipment clinically and operationally cost-effective.

The overall optical imaging market is also presented from the perspective of different geographic regions and the key countries for this industry.  Competitive landscape for each of the product types is highlighted and market players are profiled.

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