Optical Imaging Market: Growth Trajectory, Trends, and Key Players 2024-2031

Optical Imaging Market Size

Global Optical Imaging Market reached US$ 1.6 billion in 2022 and is expected to witness lucrative growth by reaching up to US$ 4.0 billion by 2031. the global optical imaging market is expected to exhibit a CAGR of 12.4% during the forecast period (2024-2031).

Optical imaging technology possesses the remarkable ability to discern between healthy and damaged tissues, offering vast opportunities for medical diagnosis companies. By utilizing non-ionizing radiation, including visible, ultraviolet, and infrared light, optical imaging significantly reduces patient exposure to potentially harmful radiation. This makes it a much safer alternative to methods employing ionizing radiation, such as X-rays, enabling repeated treatments for monitoring disease progression or therapy outcomes.

Moreover, the growth of optical imaging is propelled by several factors. The increasing prevalence of neurological and ophthalmological disorders is driving demand for advanced imaging diagnostics. Additionally, rising government funding and escalating healthcare expenditure aimed at addressing chronic diseases further stimulate market growth.

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Optical Imaging Market Trends

Novel product launches and research studies play a pivotal role in driving market growth during the forecast period. The introduction of new products contributes significantly to the advancement of sophisticated optical imaging technology. These innovative offerings often come with cutting-edge features such as enhanced resolution, reduced acquisition times, and heightened sensitivity, enabling researchers and medical professionals to explore new frontiers in optical imaging.

For instance, in May 2023, Lumicell received FDA acceptance and priority review for its LUMISIGHT optical imaging agent designed for breast cancer, along with the Lumicell direct visualization system (DVS). The FDA's grant of priority review for the NDA and PMA applications underscores Lumicell's dedication to pioneering fluorescence-guided imaging technologies for cancer surgery, marking a significant milestone in the field of optical imaging.

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Industry Segmentation

By Technology
Optical Coherence Tomography (OCT)
Endoscopy
Photoacoustic imaging
Diffused optical tomography (DOT)
Raman Spectroscopy
Others

By Product
Imaging System
Illumination System
Software
Lenses
Camera

By Therapeutic Area
Ophthalmology
Oncology
Neurology
Cardiology
Dermatology
Others

By Application
Pathological Imaging
Intra-Operative Imaging
Others

By End User
Hospitals/Clinics
Diagnostic Imaging Centres
Research Laboratories

Market Key Players
Major players are Abbott Laboratories, Carl-Zeiss AG, Canon Inc, Danaher Corporation, Koninklijke Philips N.V, PerkinElmer Inc, Topcon Healthcare, Leica Microsystems, Visionix and Cylite Pty Ltd.

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