The global Optical Imaging System Market is expected to value at USD 3.0 billion by 2024. The optical imaging system industry is subject to witness a substantial growth due to increase in occurrence of chronic diseases and growing demand for advanced diagnostic facilities. Other factors such as accelerated drug discovery & research and development of advanced diagnostic techniques contribute to the growth of live cell imaging market in both developed and developing economies across the globe.
Additionally, growing popularity of kinetic research instead of fixed cellular analysis is predicted to drive market expansion during the forecast period. Globally, the optical imaging system market is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.
Additionally, optical imaging systems are essential to perform advanced imaging and diagnostic for ophthalmology, thereby propelling market demand, in the recent years. Advancements in optical imaging system and design modification to enhance overall performance leads to a vast set of applications in the areas of dermatology, cardiology and others. The wide range of applications of optical imaging systems are expected to fuel market growth over the forecast period.
Adoption of optical imaging and diagnostic systems by cardiologist in order to locate and treat coronary artery disease is expected to play critical role in the robust growth of optical imaging system industry in the near future. The recent technological advancement in the healthcare sector coupled with development of novel products & techniques to perform tissue imaging and endoscopy are anticipated to foster market growth in the upcoming years.
In addition, early adoption of optical imaging system helps to enhance care delivery given to patients, thereby positively influencing market demand for medical cameras. Additionally, use of optical imaging system helps to identify early symptoms diseases from going unnoticed. These factors are expected to boost the growth of optical imaging system market over the forecast period.
Increasing collaboration among private players and various research institutes & universities to produce innovative products and co-develop advanced imaging techniques are expected to drive market growth in the years to come. In addition, rise in the number of mergers, acquisitions and partnerships by industry players in order to strengthen their market position in the optical imaging system industry and generate additional revenue.
The optical imaging system market is broadly categorized into major segments based on the end-use application type such as research laboratories, hospitals & clinics, and pharmaceutical & biotechnology sector. The research laboratories is considered as one of the fastest growing segment in the market of optical imaging system with substantial revenue generation in the last few years.
Growing popularity of optical imaging systems in the research laboratories segment is attributed to the increasing use of optical imaging in the R&D sector. The pharmaceutical & biotechnology sector segment has also witnessed substantial growth owing to the substantial investment by private bodies in drug discovery & drug research.
The is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in healthcare sector, increase in the number of research & development activities in the region, and existence of well-established industrial infrastructure. Asia-Pacific region is predicted to hold major market share in the optical imaging system with massive growth in forecast period.
Countries such as India, China and Singapore are leading the Asia-Pacific market with improved healthcare infrastructure, increasing healthcare expenditure, rising per capita income, growing awareness among general population and significant investment by leading industry players considering potential growth opportunities in the region. The key players in the optical imaging system industry are St. Jude Medical Incorporated, PerkinElmer, Inc., Koninklijke Philips N.V., Carl Zeiss Meditec Group, Topcon Co., Bioptigen, Inc., Canon, Inc., Heidelberg Engineering, Inc., Optovue, Inc., and Headwall Photonics, Inc.
Global Optical Imaging Systems Market by Technology (USD Million), 2013 - 2024
• Photoacoustic Tomography
• Optical Coherence Tomography
• Hyperspectral Imaging
• Near-infrared Spectroscopy
Global Optical Imaging Systems Market by Product (USD Million), 2013 - 2024
• Imaging Systems
• Optical Imaging Systems
• Spectral Imaging Systems
• Optical Imaging Software
• Illumination Systems
• Other Optical Imaging Products
Global Optical Imaging Systems Market by Application (USD Million), 2013 - 2024
• Pathological Imaging
• Intraoperative Imaging
Global Optical Imaging Systems Market by End-Use (USD Million), 2013 - 2024
• Research Laboratories
• Hospitals & Clinics
• Pharmaceutical & Biotechnology Companies
Global Optical Imaging Systems Market by Therapeutic Areas (USD Million), 2013 - 2024
Optical Imaging Systems Market by Region (USD Million), 2013 - 2024
• North America
• Asia Pacific
• Latin America
• South Africa
• Saudi Arabia
Research Support Specialist, USA