Global Optical Imaging Market - 2023-2030

Market Overview

The 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 2030. the global optical imaging market is expected to exhibit a CAGR of 12.4% during the forecast period (2023-2030).

Optical imaging employs photon characteristics such as absorption and scattering to measure and perceive the qualities of organs and soft tissues. Despite the fact that optical imaging technology is still in its early stages of development, it offers several technological benefits over current imaging methods. Doctors use photos to diagnose and cure various disorders, while scientists use them to conduct a variety of research projects. In comparison to MRI and X-ray, which employ ionising radiation for imaging, optical imaging has been shown to be significantly safer and more efficient.

Market Dynamics

Rising Demand For Radiation-Free Devices in Oncology

The desire for safer and more accurate diagnostic instruments drives the demand for radiation-free optical imaging techniques in cancer. These approaches have the benefit of real-time imaging, excellent resolution, and the ability to characterise tissues at the molecular level.

Optical imaging plays a critical role in improving cancer detection, diagnosis, and treatment planning by reducing radiation exposure and providing essential information about tumour biology. For instance, In Oct 2022, GenWorks introduced the Braster Pro, a radiation-free device, easy-to-use, contact-based breast cancer screening device, aiming to revolutionize hospitals by providing early detection and reducing radiation exposure.

Technological Advancements in Optical Imaging is one of the Key Significant Drivers in the Market during Forecast Period

Technological advancements in optical imaging is one of the key significant drivers that help the market to grow during the forecast period. Optical imaging technology developments have substantially improved its capabilities and use in a variety of sectors, including medicine, biology, materials science, and others.

For instance, In March 2023 CytoVeris and AdventHealth Central Florida have collaborated on a clinical study to improve prostate cancer outcomes by using AI-powered imaging devices during surgery. The device, called MarginASSURE, aims to enhance surgical decision-making and patient outcomes by providing real-time, accurate margin assessment.

Shortage of Skilled Operators in the Global Optical Imaging Market

Optical imaging is an advanced diagnostic tool that requires skilled operators for effective use. However, a shortage of qualified operators, especially in developing nations, hinders its use in clinical diagnostic applications. The rapidly changing technological landscape requires healthcare providers to acquire the necessary skills to operate advanced imaging systems. This delay in adoption is expected to hinder the market's growth during the forecast period.

COVID-19 Impact Analysis

The COVID-19 epidemic enhanced the necessity for doctors and other healthcare workers to maintain social distancing. As a result of COVID-19, several imaging and diagnostic departments have witnessed a rapid decline in optical imaging case volumes. The fall in optical imaging cases has major consequences for all practising settings' short- and long-term economic viability.

According to a study published in the Journal of the American College of Radiology (JACR), a nearly 28 per cent decrease in total imaging volume was observed during this global health crisis over a seven-week period when compared to 2019, and this included all patient service locations and imaging modality types.

Russia-Ukraine War Impact Analysis

The Russia-Ukraine conflict is estimated to have a moderate impact on the global optical imaging market, owing to the low prevalence and absence of key market players in this region. however, the impact of the import and export of devices is expected to have little influence over the global optical imaging market growth over the forecast period.

Segment Analysis

The global optical imaging market is segmented based on infection type, drug type, end user and region.

The Optical Coherence Tomography (OCT) from the Technology Segment Accounted for Approximately 40.1 % of the Optical Imaging Share

The optical coherence tomography from the technology segment with around (40.1%) is expected to dominate during the forecast period. Non-invasive imaging tests include optical coherence tomography (OCT) and optical coherence tomography angiography (OCTA). They capture cross-section photographs of your retina using light waves.

OCT is a non-invasive medical imaging tool that is increasingly being used in the regular examination and therapy of patients with neuro-ophthalmic diseases. Its capacity to define the optic nerve head, peripapillary retinal nerve fibre layer, and cellular layers of the macula, including the ganglion cell layer, allows for both qualitative and quantitative evaluation of optic nerve pathology.

For instance, In Sep 2022 Kubota Vision announced a collaboration agreement with Joslin Diabetes Center for their Patient Based Ophthalmology Suite (PBOS) in-home optical coherence tomography (OCT) device. The collaboration aims to evaluate the effectiveness of home-based OCT in evaluating diabetic macular edema and monitoring patients at risk for losing vision. The agreement aims to improve the quality of care for patients with diabetic macular edema.

Geographical Analysis

North America Accounted for Approximately 38.7% of the Market Share

North America is estimated to hold about 38.7% of the total market share throughout the forecast period with enormous possibilities. For instance, According to a report published in NCBI by the Department of Neurology, it is estimated that 30 million people in India suffer from neurological disorders. The optical image market is expected to grow due to the large patient pool, healthcare technology adaptation, government initiatives, and favourable insurance policies. Key players are also setting up regional headquarters and manufacturing plants in emerging economies like Singapore, China, Korea, and India, resulting in a positive growth curve in the optical imaging market.

Competitive Landscape

The major global players in optical imaging include: Abbott Laboratories, Carl-Zeiss AG, Canon Inc, Danaher Corporation, Koninklijke Philips N.V, PerkinElmer Inc, Topcon Healthcare, Leica Microsystems, Visionix, Cylite Pty Ltd and others.

Why Purchase the Report?

• To visualize the global optical imaging market segmentation based on technology, product, therapeutic area, application, end user and region. end user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of optical imaging market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.

Product mapping available as excel consisting of key products of all the major players.

The global optical imaging market report would provide approximately 53 tables, 54 figures and 195 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies