Optical Imaging Market 2024 - By Size, Trends, Opportunities And Forecast To 2033

The Business Research Company recently released a comprehensive report on the Global Optical Imaging Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The optical imaging market size has grown rapidly in recent years. It will grow from $2.1 billion in 2023 to $2.4 billion in 2024 at a compound annual growth rate (CAGR) of 14.4%. The growth in the historic period can be attributed to data analytics and image processing, consumer electronics integration, cost reduction and accessibility, academic and research institutes, industrial applications.

The optical imaging market size is expected to see rapid growth in the next few years. It will grow to $4.18 billion in 2028 at a compound annual growth rate (CAGR) of 14.9%. The growth in the forecast period can be attributed to healthcare industry evolution, rise in chronic and age-related diseases, non-invasive and minimally invasive imaging demand, biophotonics advancements. Major trends in the forecast period include regulatory adaptation, research and development investments, consumer electronics integration, cost-effectiveness and affordability, enhanced endoscopic imaging.

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Market Drivers and Trends:

Rising prevalence of eye disorders is expected to propel the growth of the optical imaging market going forward. Eye disorders refer to a variety of conditions and diseases that affect the normal functioning of the eye, leading to visual impairment or other related problems. Optical imaging technologies, with their high-resolution capabilities and non-invasive nature, provide detailed imaging of the eye's structures, aiding in the diagnosis and monitoring of various eye disorders. For instance, in July 2022, according to the Center for Disease Control and Prevention, a US-based government agency, in US about 6.8% of children younger than 18 years have a diagnosed eye and vision condition. Therefore, a rising prevalence of eye disorders is expected to propel the growth of the optical imaging market.

The new advancements in technologies are a key trend gaining popularity in the optical imaging market. Major players are launching technologically advanced products to stay ahead in the optical imaging market and gain a prominent market share. For instance, in September 2023, Exo, a US-based medical optical imaging startup, launch imaging device, Exo Iris. Iris is a portable ultrasound device that combines point-of-care imaging, artificial intelligence, and health information technology (IT) systems. Exo Iris is the latest addition to Exo's ecosystem, which combines imaging, workflow software, and artificial intelligence (AI) to enable POCUS (Point-of-Care Ultrasound) adoption at a system-wide scale. Exo Iris gives caregivers including physicians, nurses, EMTs (Emergency Medical Technician), and clinicians in emergency, acute care, outpatient, and at-home settings a window into the human body for immediate answers at the point of care.

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Major Key Players of the Market:

St. Jude Medical Inc., PerkinElmer Inc., Carl Zeiss Meditec AG, Koninklijke Philips N.V., Topcon Corporation, Bioptigen Inc., Canon Inc., Heidelberg Engineering Inc., Optovue Inc., Headwall Photonics Inc., Agfa-Gevaert N.V., Hamamatsu Photonics K.K., Hitachi Medical Corporation, Imalux Corporation, Infraredx Inc., Bruker Corporation, ChemImage Corporation, Cytoviva Inc., Leica Biosystems Nussloch GmbH, Michelson Diagnostics Ltd., Raytheon ELCAN Optical Technologies, Santec Corporation, Danaher Corporation, Thorlabs Inc., Tomophase Corporation, Ziemer Ophthalmic Systems AG, Axsun Technologies, Bioptics Inc., Andor Technology Ltd., Abberior Instruments GmbH

Optical Imaging Market 2024 Key Insights:

• The optical imaging market size is expected to see rapid growth in the next few years. It will grow to $4.18 billion in 2028 at a compound annual growth rate (CAGR) of 14.9%.
• Clear Vision For The Future Optical Imaging Market Set To Soar With The Rising Ageing Population
• Pioneering Technologies Transforming The Landscape Of The Optical Imaging Market
• North America was the largest region in the optical imaging market in 2023

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This release was published on openPR.