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Optical Imaging Market | Growth, Trends, and Forecast 2020

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According to research report the global optical imaging market is expected to reach USD 1,749.2 million by 2020. The market was valued at USD 989.0 million in 2015 and is expected to grow at a CAGR of 12.1% from 2015 to 2020.

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The growing demand for non-invasive &  ionizing radiation free imaging modalities from the end users and increase in R&D activities involving use of optical imaging technologies in the pharmaceutical and biotechnology sector are fuelling the growth of the optical imaging market. Moreover, increasing focus towards development of safer diagnostic modalities and the widening application areas of optical imaging techniques in this industry is furthermore contributing to the growth of the optical imaging market during the forecast period of 2015 to 2020.

In the techniques segment, optical coherence tomography (OCT) accounted for the lion’s share of the global optical imaging market in 2014. A major share of OCT segment can be attributed to its successful application in medical diagnostics, especially in ophthalmology and cardiology. Moreover, its use in preclinical imaging in life sciences research is also expected to boost the adoption of OCT in the coming years.

Geographically, in 2014, the global optical imaging market was dominated by North America, primarily due to the highly developed healthcare system, aging population, increasing incidence of chronic diseases, immense application scope, technological innovation, and the presence of a large number of imaging manufacturing companies.. North America is expected continue to dominate the market during the forecast period 2015 to 2020.

During the forecast period, a majority of the growth in the global optical imaging market would be primarily driven by the growing health awareness; rising need for safer imaging modalities; growing pharmaceutical and biotechnology industries; and increasing number of research laboratories in the Asian market, especially in Japan and India. Countries like China, Singapore, Malaysia are also witnessing rapid technological growth which is expected to boost the Asian optical imaging market.

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Some prominent players in the global optical imaging market are Topcon Medical systems, Inc. (U.S.), St. Jude Medical, Inc. (U.S.), Carl Zeiss Meditec AG (Germany), and Bioptigen, Inc. (U.S.), Heidelberg Engineering, Inc. (U.S.), Headwall Photonics, Inc. (U.S.), PerkinElmer, Inc. (U.S.), Optovue, Inc. (U.S.), DermaLumics (Spain), Michelson Diagnostics (U.K.), AGFA Healthcare (Belgium), and Santec Corporation (Japan).

 

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