Optical Imaging Market 2021: Industry Growth, Competitive Analysis, Future Prospects Forecast To 2027

Precision Business Insights published a research report on “Optical Imaging Market: By Technology (Photoacoustic Imaging, Optical Coherence Tomography (OCT), Hyperspectral Imaging, Near Infrared Spectroscopy and Others), By Application (Dermatology, Ophthalmology, Dentistry, Neurology, Cardiology, Oncology and Others), By end user (Hospitals, Research Laboratories, Medical Imaging Centres and Others) and Geography- Global/Region/Country Forecast to 2027".

The global optical imaging market is estimated to reach USD 3.3 billion by 2026 from USD 1.6 billion in 2021, at a CAGR of 14.8%. The optical imaging market is primarily driven by factors like rising demand for non-invasive procedures, awareness of the harmful effects of radiation-based imaging techniques, and an increase in research activities in the disease investigation sector. The rise in the geriatric population with cardiovascular, neurological, and ophthalmic disorders is also estimated to fuel the optical imaging market. Additionally, factors such as an increase in government initiatives and funding for research in the medical devices sector, rising demand for accurate diagnosis are expected to boost the optical imaging market.

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Optical Imaging is a non-invasive diagnostic technique used for imaging tissues and organs using light and special properties of photons. Optical imaging is used to obtain well-detailed, accurate, high contrast images of organs, tissues, cells, and even molecules. It is often combined with other imaging techniques like MRI, CT, etc to get well-investigated disease diagnoses by doctors and researchers. These images are generated by using photons of light in the wavelength range from ultraviolet to near-infrared. The image contrast is obtained through the use of exogenous agents (dyes) or endogenous molecules. Optical imaging is now an emerging technology as it provides great potential in improving disease prevention, diagnosis, and prevention.

However, the key restraints of the optical imaging market are high costs of imaging equipment, stringent government policies, and inadequacy in skilled labour.

Additionally, improper reimbursement policies, high maintenance, and installment costs are predicted to hamper the growth of the optical imaging market.

The optical imaging market is segmented based on end-user type, the technique used, therapeutic application, and geography. Based on the imaging technique used, the optical imagining market is divided into optical coherence tomography (OCT), photoacoustic imaging, diffused optical tomography, hyperspectral imaging, super-resolution microscopy, and, near-infrared spectroscopy. The optical imaging market is branched as diagnostic imaging centers, hospitals and clinics and, research laboratories based on end-user type. According to the therapeutic application, it is segmented into neurology, oncology, ophthalmology, dentistry, cardiology, dermatology, and other sectors.

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Geographically, the global optical imaging market is segmented into five key regions, North America, Europe, Asia-pacific, Latin America, and Africa. The American optical imaging market is predicted to have notable growth owing to its well-established healthcare infrastructure, increase in population with geriatric disorders, and technological advancements. Europe is the second-largest region in the optical imaging market owing to the advanced treatment facilities, increase in healthcare expenditure and, flourishing medical device industry. The Asia Pacific region is forecasted to be the fastest-growing market owing to its huge patient pool, increased government healthcare initiatives, and development in healthcare technology. However, the African market is anticipated to be the least growing due to lack of awareness, limited access, and unavailability of treatment facilities.

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