Market Scenario
Optical imaging has the ability to
improve point of care in the healthcare setting since it provides improved
screening and detection of disease. The global optimal
imaging market size is anticipated to attain a valuation
of USD 1.92 Bn at a CAGR of 10% over the forecast period of 2018-2023, projects
Market Research Future (MRFR) in an extensive study.
Some of the
Top Key Players in Optical Imaging Market are Jude Medical, Inc., Carl Zeiss
Meditec AG, Bioptigen, Inc., Canon Inc, Heidelberg Engineering, Inc., Topcon
Corporation, Perkinelmer, Inc., Koninklijke Philips N.V. and Agfa-Gevaert N.V.
etc.
Driven by critical healthcare needs,
optimal imaging is gaining traction as a detector technology. Optimal imaging
is a technique where cellular and molecular function in a living body is
interrogated with the help of light and the special properties of photons to
obtain detailed images of organs and tissues.
Optical imaging is a
non-invasive technique in which light is used to interrogate cellular and
molecular function in the living body by exploiting the special properties of
photons. This market is mainly driven by rising demand for non-invasive
procedures, harmful effects of radiation-based imaging, increase in research
and development activities in the life sciences sector, and increasing
application of optical imaging techniques in drug discovery processes and
preclinical research, Moreover factors such as rising geriatric population
which leads to increase in cardiovascular, neurological and ophthalmic
disorders is also fueling the growth of this market.However, factors such as stringent regulatory approval procedures high costs of instruments, scarcity of skilled operators, and insufficient reimbursements policies for optical imaging procedures restrict market growth.
Segmentation
The global optical imaging market is segmented on the basis
of products, techniques, therapeutic area, application, and end-user. Considering
the type of product, the market is segmented into imaging systems, software,
lenses, illumination systems, cameras and others. Imaging systems are further
segmented into optical imaging systems and spectral imaging systems. On the
basis of technique, the market is segmented into Optical Coherence Tomography
(OCT), photoacoustic imaging, diffused optical tomography, hyperspectral
imaging, near-infrared spectroscopy, and super-resolution microscopy.
On a therapeutic area basis, it is segmented into neurology,
oncology, ophthalmology, dentistry, cardiology, dermatology, and others. On
account of application, the market is segmented into pre-clinical and clinical
research, pathological imaging and intraoperative imaging. According to the
end-user, the market is segmented into diagnostic imaging centers, hospitals
and clinics, research laboratories, and pharmaceutical &biotechnology
companies. Based on region the market is segmented into Americas, Europe, Asia
Pacific, and the Middle East and Africa. Americas region is segmented into
North America and South America. Similarly, Europe is segmented into Western
Europe and Eastern Europe.
Regional Market Summary
In terms of geography, Americas dominates the
market for optical imaging owing to increasing prevalence of cardiovascular,
neurological and ophthalmic disorders about rising geriatric population which
is a major trigger factor for this disease. Additionally, factors such as
increasing government initiatives and funding for research in medical devices sector,
rising demand for accurate diagnosis, awareness about adverse effects of
radiation imaging, ability to provide in-depth images of soft tissues and
vascular systems and presence of pharmaceutical giants key players also propel
the market growth in this region. For instance, according to National cancer
institute, in 2016, around 1,685,210 new cases of cancer were diagnosed in the
U.S. Thus, this huge patient pool is going to boost up the market growth during
the forecast period.
Europe is the second largest market and holds
a healthy place in global optical imaging
market share due to major driving factors like
availability of advanced treatment facilities, increasing healthcare
expenditure, good healthcare infrastructure and flourishing medical device
industry due to the presence of major market players. Additionally, knowledge
about the benefits of optical imaging over radiation imaging and capability of
inhabitants to afford the diagnostics is spurring the market growth.
Asia Pacific is expected to be the fastest
growing market with most promising growth possibilities. According to a report
published by the department of neurology in 2014, it is estimated that for the
current population of 1.27 billion, approximately 30 million people suffer from
neurological disorders in India. Thus, owing to the huge patient pool, a faster
adaptation of healthcare technology, government initiatives to increase the
healthcare quality, availability favorable insurance policies market growth
will be accelerated during the forecast period. Moreover, due to lower
cost of clinical trials and research key players have been setting up their
regional headquarters and manufacturing plants in Singapore, China, Japan,
Korea, and Australia which make a positive growth curve in optical imaging
market in future.
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