(PharmaNewsWire.Com, August 25, 2021 ) According to the market research report 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.
Carl Zeiss Meditec AG (Germany), Abbott Laboratories (US), Topcon Corporation (Japan), Canon Inc. (Japan), PerkinElmer, Inc. (US), Koninklijke Philips N.V. (Netherlands), and Heidelberg Engineering (US) are the leading players in the optical imaging market. Leica Microsystems (Germany), Headwall Photonics, Inc. (US), Optovue Inc. (US), Optical Imaging Ltd. (Israel), Optos (Scotland), and Wasatch Photonics (Utah) are the other prominent players in the market.
Carl Zeiss Meditec AG
Carl Zeiss Meditec AG (Germany) held the leading position in the global optical imaging market in 2020. The company has a diversified product portfolio of optical imaging systems, majorly (OCT systems) for ophthalmic applications, which include a wide range of clinical tools for the diagnosis and treatment of eye diseases. The company was the first player to introduce time-domain OCT-based products for retinal, anterior segment/cornea, and optic nerve imaging. Its leading position in the optical imaging market can be attributed to its innovations in OCT systems. Over the years, the company has developed innovative products for various medical applications. The company’s products, such as Stratus OCT and Cirrus HD-OCT systems offer proficiencies and streamlined workflows that enable physicians to gather and interpret detailed disease information; they are also one of the most widely adopted clinical tools among ophthalmologists. In April 2019, the company launched the PLEX Elite 2.0, the first dual-speed swept-source OCT/OCTA that will scan at 200kHz, in addition to 100kHz, providing doctors a deeper and more detailed view into the retina, enabling visualization options for various diseases.
Topcon Corporation
Topcon Medical Systems, Inc. was the second-largest player in the global optical imaging market. The company has maintained its leadership position in the market through its strong distribution networks across North America, Europe, and the Asia Pacific (especially Japan and China). It focuses on acquisitions and partnerships as its key business strategies to ensure growth in the global optical imaging market.
Canon Inc.
Canon, Inc. was the third-largest player in the global optical imaging market. To maintain its position in the market, the company focuses on the strategies of expansions, acquisitions, and new product launches. It strives to develop new products and solutions for the optical imaging market and hence actively invests in R&D activities. In November 2020, Canon partnered with Spurs Sports & Entertainment. This partnership between the Spurs and Canon Medical will see the two working together on advancing medical imaging innovation.
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.
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.
Based on application, the optical imaging market is divided into pathological imaging and intraoperative imaging. The pathological imaging segment dominated the optical imaging market in 2020.
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.
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