USD 1.50 billion
Optical Imaging Market Size, Share, Growth Analysis, By Product (Imaging Systems, Camera), By Therapeutic Area (Ophthalmology, Oncology, Cardiology), By Technique, By Application, By End User, By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2954 |
Region:
Global |
Published Date: November, 2024
Pages:
174
|Tables:
96
|Figures:
71
Optical Imaging Market Insights
Global Optical Imaging Market size was valued at around USD 1.50 billion in 2022 and is expected to rise from USD 1.70 billion in 2023 to reach a value of USD 4.69 billion by 2031, at a CAGR of 13.5% over the forecast period (2024–2031).
As the name suggests, optical imaging is a painless technique that helps create detailed pictures of human body organs, tissues, and molecules. The market comprises improved technologies that capture and study images with the help of light. Recent years have shown significant growth in the optical imaging market, driven by factors like the growing need for high-resolution imaging, improvements in imaging technologies, and expanded applications in medical diagnostics. Nonetheless, the market is facing challenges like system complexity, high-priced imaging systems, and compliance and regulatory issues for approval of novel devices. Yet, the market will progress further due to opportunities like expanding applications in healthcare, increased manufacturing and industrial applications, and improvements in imaging technologies.
Market Snapshot - 2024–2031
Global Market Size
Largest Segment
Hospitals
Fastest Growth
Lenses
Growth Rate
13.5%
Global Optical Imaging Market ($ Bn)
Country Share for North America Region (%)
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Optical Imaging Market Segmental Analysis
Global Optical Imaging Market is segmented by Product, Therapeutic Area, Technique, Application, End User and region. Based on Product, the market is segmented into Imaging Systems, Camera, Software, Lenses, Illuminating Systems, and Others. Based on Therapeutic Area, the market is segmented into Ophthalmology, Oncology, Cardiology, Dermatology, Neurology, and Others. Based on Technique, the market is segmented into Optical Coherence Tomography, Near infrared Spectroscopy, Hyperspectral Imaging, Photoacoustic Tomography, and Others. Based on Application, the market is segmented into Pathological Imaging, and Intraoperative Imaging. Based on End User, the segmented into Hospitals, Research Laboratories, Pharmaceutical and Biotechnology Companies, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Therapeutic Area
Based on therapeutic area, the optical imaging market is segmented into ophthalmology, oncology, cardiology, neurology, and others. The oncology segment held a notable share in 2023 and is projected to continue dominance over the forecast period as well owing to increasing cases of cancer, wherein the imaging systems are extensively used. Optical imaging techniques are also widely used for treatment planning and monitoring. These include near-infrared imaging and fluorescence imaging, which are crucial for guidance in surgeries and viewing tumors. Also, increasing focus on the early detection of cancer and tailored treatments are intensifying the significance of imaging in oncology, thus the segment’s growth.
However, the ophthalmology segment is expected to grow significantly owing to broader use of OCT for diagnosing and treating eye-related disorders. Optical coherence tomography is widely used for eye diseases for glaucoma, retinal disorders, and age-associated macular degeneration. The growing cases of eye disorders, the demand for early detection, and demand for precise diagnosis is considerably fueling the demand for optical imaging in ophthalmology.
Analysis by End User
Based on end user, the optical imaging market is segmented into hospitals & clinics, research laboratories, pharmaceuticals & biotechnology companies. The research laboratories segment is projected to lead the market over the forecast period owing to the increasing demand for high-resolution imaging, detailed vision in research, and real-time analysis. Optical imaging techniques are widely used in research labs for multiple applications, including advanced material science, basic biological research, and drug discovery, thus increasing demand in these settings.
On the other hand, the hospitals & clinics segment will grow considerably over the estimated period owing to the increasing adoption of imaging in different domains like oncology, ophthalmology, and several other specialties. Optical imaging technologies like OCT and other imaging systems are prominently used in clinics and hospitals for treatment planning, patient diagnosis, and monitoring. The increasing adoption of imaging in these areas along with the growing hospital admissions for treating different eye disorders are contributing to the segment’s growth.
Global Optical Imaging Market Size By End User
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Optical Imaging Market Regional Insights
Geographically, North America is the dominating region among others and is expected to lead over the forecast period owing to growing healthcare expenditure, technological improvements, and developed healthcare infrastructure. Heavy investments in medical research and healthcare are aiding the demand for and adoption of technologically improved optical systems. North America is a key center for innovations and startups and technology companies with expertise in imaging, resulting in speedy improvements and regional growth. The region also has developed healthcare infrastructure with superior healthcare facilities and increased use of imaging technologies. The market players operating in the region include PerkinElmer Inc., Agilent Technologies, Bruker Corporation, Andor Technology, Nikon Instruments Inc. and more.
Europe is observed to be the fastest-growing region in the global optical imaging market due to growing healthcare standards and innovations and strong research. European nations hold high-tech healthcare systems with major focus on the use of superior diagnostic technologies and tools. Europe is also a hub for many leading universities and research institutes that propel improvements in these technologies. Regional growth is also significantly impacted by major investments from private sectors and governments, aiding the adoption and development of advanced optical imaging systems.
Global Optical Imaging Market Size By Geography
- Largest
- Fastest
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Optical Imaging Market Dynamics
Drivers
Growing Diagnostic and Healthcare Needs
- Recent years have increased the demand for medical diagnostics. Optical imaging plays a key role in painless diagnostic procedures, comprising ophthalmology, endoscopy, and detection of cancer. The increasing need for accurate diagnostics and early detection is propelling the growth of the market. Furthermore, the increasing geriatric population with many age-related disorders increases the demand for diagnostic imaging systems.
Expanding Applications of Optical Imaging
- Optical imaging systems and technologies are prominently used in different areas, especially in research for the analysis of biological processes, cellular structures, and molecular interactions. This increased applications and demand from life sciences is surging the market growth. Optical imaging is also used in quality inspection, control, and process monitoring in different industries like electronics, manufacturing, and more, impacting the market growth.
Restraints
Technical Challenges and Complexity
- Advanced optical imaging systems can be challenging to operate and need professional training. The need for an expert workforce to use and maintain these technologies and tools effectively may be difficult and cause hindrances to wide-ranging adoption, thus restraining market growth. Also, incorporating novel optical imaging tools with the current workflows and systems may be a complex task and need extra adjustments and resources.
Limited Accessibility Issues in Emerging Regions
- In several emerging nations, lack of technical expertise and insufficient infrastructure may also impact the adoption and availability of improved optical imaging technologies. Besides, unexplored regions, who are unaware of the benefits of early detection of diseases and improved technologies may also hamper market growth. Also, restricted financial resources and low healthcare budgets in the emerging nations may limit access to superior imaging systems.
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Optical Imaging Market Competitive Landscape
The global optical imaging market is a highly competitive global market driven by many international competitors. Prominent corporations with cutting-edge AI and ML technology are Google, IBM, Microsoft, and NVIDIA. To support a wide range of applications across industries, these industry experts concentrate on creating cutting-edge algorithms, scalable platforms, and reliable infrastructure. Rapid advances in technology, strategic alliances, and large expenditures on research and development define the competitive environment.
Top Player’s Company Profiles
- Carl Zeiss Meditec (Germany)
- Abbott (US)
- Topcon Corporation (Japan)
- Canon (Japan)
- PerkinElmer (US)
- Koninklijke Philips (Netherlands)
- Heidelberg Engineering (US)
- Leica Microsystems (Germany)
- Headwall Photonics (US)
- Visionix (US)
- Optical Imaging (Israel)
- Optos (Scotland)
- Wasatch Photonics (US)
- ArcScan (US)
- DermaLumics (Spain)
- Cylite (Australia)
- MOPTIM (Guangdong)
- Michelson Diagnostics (England)
- Thorlabs (US)
- Hamamatsu Photonics (Japan)
Recent Developments
- In October 2023, Abbott unveiled and launched its ultra-modern vascular imaging solution in India, embedded with Ultreon 1.0 Software. The intra-vascular imaging solution combines OCT (optical coherence tomography) with AI, providing comprehensive perspective of blood to clinicians and barriers in coronary arteries.
- In April 2024, Canon launched a modernized one stop solution, named ‘'Canon NorthStar’. The end-to-end advisory system and associated facilities bring together industry experts and technology companies to allow users to deploy thorough studio operations.
- In November 2023, ZEISS Microscopy presents their two novel products at 2023 SfN Neuroscience, in Washington D.D. One amongst them offers novel operation to laser scanning microscopes of ZEISS ad another is a novel incorporated system for block-face serial imaging.
Optical Imaging Key Market Trends
- Integration of Machine Learning and Artificial Intelligence: The optical imaging market is witnessing improved imaging capabilities for better operation of these systems and better patient outcomes. Machine learning algorithms and AI are enhancing image acquisition, interpretation, and analysis. They allow automated and precise diagnostics, especially in medical imaging, wherein, they help to detect anomalies and patterns.
- Development of Handheld and Portable Devices: Handheld and portable imaging devices are gaining popularity and are increasingly demanded. Also, producers are developing such highly efficient and portable devices, making them accessible in the underserved and remote areas. These devices are innovated with wireless connectivity and miniaturization. Also, the inclination towards POC testing is further increasing the demand for user-friendly and compact imaging systems that can effectively offer quick results.
Optical Imaging Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the optical imaging market is progressing significantly owing to the increasing research and development investments, growing healthcare expenditure, and technological integration and miniaturization. The market is also fueled by the growing adoption and awareness of advanced optical imaging systems. However, a few restraints impeding the growth of the market include the significant cost of improved optical imaging systems, data privacy, and security issues, and low awareness in developing regions. North America is anticipated to lead the market owing to the increased awareness and education for early detection of eye disorders, developed healthcare infrastructure, and government and private sector spending. Nonetheless, the opportunities for the growth of the optical imaging market include growth in medical applications, integration with other technologies, and emphasis on sustainability technologies.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.50 billion |
| Market size value in 2031 | USD 4.69 billion |
| Growth Rate | 13.5% |
| Base year | 2023 |
| Forecast period | 2024–2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Optical Imaging Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Optical Imaging Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Optical Imaging Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Optical Imaging Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Optical Imaging Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Optical Imaging Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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