(PharmaNewsWire.Com, January 23, 2021 ) The growing demand for noninvasive and radiation-free imaging modalities in the end-user markets, and an increase in R&D activities involving optical imaging technology in the pharmaceutical and biotechnology sector are fuelling the growth of this market. Moreover, the increasing focus towards the development of biopharmaceuticals and the widening applications of optical imaging techniques in this industry are also contributing to the growth of the optical imaging system market.
According to a new market research report Optical Imaging System Market is expected to reach USD 1,749.2 Million by 2020. The market was valued at USD 888.6 Million in 2015 and is expected to grow at a CAGR of 12.1% from 2015 to 2020.
In this report, the global optical imaging market is segmented by techniques, products, applications, end users, geographic regions, and countries. It also discusses the key market drivers, restraints, opportunities, trends, and challenges of this market and its sub-markets.
In the techniques segment, optical coherence tomography (OCT) accounted for the largest market share—84.5%— in 2013. This can be attributed to the successful application of OCT in variety of medical diagnostics procedures, especially in the field of ophthalmology and cardiology. Moreover, the growing application of optical imaging techniques for preclinical research is expected to boost its adoption during the forecast period.
North America accounted for the largest share of the global optical imaging market, followed by Europe and Asia-Pacific. Greater uptake of optical imaging products and the presence of large number of optical imaging products manufacturers in the North American and European region has led to their large market share in the optical imaging market. However, the Asia-Pacific region represents the substantial growth opportunity for the optical imaging market during the forecast period of 2015 to 2020. The growth in this region is primarily driven by increased focus on healthcare growth in geriatric population, rising per capita income, increasing investments in the APAC healthcare industry by key market players, rising demand for cutting-edge technologies, and low labor costs.
Asia-Pacific region represents one of the fastest growing markets for optical imaging technologies during the forecast period. A majority of the growth in this market will be driven by the growing health awareness in the region, rising need for safer imaging modalities, growth in the pharmaceutical and biotechnology sectors, and the increase in number of research laboratories in Asia, especially in Japan and India. Countries like China, Singapore, and Malaysia are also witnessing rapid technological growth, which is expected to boost the Asian optical imaging market during the forecast period
The prominent players in the optical imaging market include Carl Zeiss Meditec AG (Germany), Bioptigen, Inc. (U.S.), Topcon Medical Systems, Inc. (U.S.), St. Jude Medical, Inc. (U.S.), Canon, Inc. (U.S.), and PerkinElmer, Inc. (U.S.).
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