(PharmaNewsWire.Com, April 22, 2021 ) Optical imaging is a rapidly developing field that has significantly impacted the global healthcare industry by facilitating effective and affordable healthcare. The global optical imaging market is projected to reach USD 3.3 billion by 2026 from USD 1.6 billion in 2021, at a CAGR of 14.8% during the forecast period. Factors such as the rising aging population, increasing research & development activities in the life sciences sector, and increasing applications of optical imaging techniques in drug discovery processes and preclinical research are fueling the growth of this market.
However, high costs of instruments, stringent regulatory approval procedures, a dearth of skilled operators, and insufficient reimbursements for optical imaging procedures are factors posing several challenges to the overall growth of the market during the forecast period.
The APAC region is expected to grow at the highest CAGR of 16.7% during the forecast period, largely driven by rapid growth in the pharmaceutical & biotechnology industries in developing countries such as India and China, rising demand for biopharmaceuticals, and increasing applications of optical imaging techniques in research & clinical diagnostics applications.
Based on technique, the optical imaging market is broadly categorized into optical coherence tomography (OCT), hyperspectral imaging (HIS), near-infrared spectroscopy (NIRS), and photoacoustic tomography (PAT). The OCT technique commanded the largest share of the global optical imaging system market; this segment will continue to dominate the global optical imaging market by 2026. The large share of this market can be attributed to its wide acceptance for research and clinical diagnostics in ophthalmology, oncology, cardiology, dermatology, neurology, and other clinical areas.
Based on products, the optical imaging market is divided into imaging systems, cameras, software, lenses, illumination systems, and others. The imaging systems segment dominated the optical imaging system market in 2020. The large share of this segment is mainly attributed to its wide applications in ophthalmology and rising adoption in medical diagnostics & clinical research.
On the basis of end users, the optical imaging market is divided into hospitals and clinics, research laboratories, and pharmaceutical & biotechnology companies. The hospitals and clinics segment dominated the optical imaging system market, accounting for xx% of the market share in 2020. The large application areas of optical imaging in hospitals and clinics are driving the growth of this end-user segment.
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