Market Drivers and Key Barriers 

Optical imaging refers to a technology that holds great potential to improve the mode of treatment, disease diagnosis, and prevention in the hospital operating room. This technology offers a host of benefits compared to radiological imaging techniques. Optical imaging technique makes use of non-ionizing radiation and reduces the patient’s radiation exposure, which gives way to numerous studies over time. It also helps differentiate soft tissues from native soft tissues or the tissues that posses exogenous or endogenous contrast media using various photon absorption profiles at different wavelengths. Optical imaging is a highly responsive imaging technique which can be used by easily combining it with other imaging techniques.

The optical imaging market is expected to be of value USD 3.44 billion in 2030 and to grow at a 9.7% CAGR during the forecast 2022-2030.

Pharmaceutical and biomedical industries make heavy demand for radiation-free imaging techniques, which accelerates the popularity of optical imaging. Surging prevalence of neurological as well as ophthalmological disorders among the worldwide population could accelerate demand for imaging diagnosis, thereby elevating market growth. Technological advancement coupled with increasing government support that benefits the healthcare industry paves the way for several growth opportunities. 

Market Segmentation 

The worldwide market for optical imaging has been segmented on the basis of products, techniques, therapeutic area, application, and end-user.

With respect to the type of product, the market comprises imaging systems, software, lenses, illumination systems, cameras, and others. Imaging systems can be sub-segmented into optical imaging systems and spectral imaging systems.

Technique-wise, the market covers optical coherence tomography (OCT), photoacoustic imaging, diffused optical tomography, hyperspectral imaging, near-infrared spectroscopy, and super-resolution microscopy.

Depending on the therapeutic area, the market covers oncology, ophthalmology, neurology, cardiology, dermatology, dentistry, and others.

Considering the application, the market caters to pre-clinical and clinical research, pathological imaging, and intraoperative imaging.

The end-users in the market include hospitals and clinics, diagnostic imaging centers, pharmaceutical &biotechnology companies, and research laboratories.

Regional Insight 

Based on the geographical distribution, the market for optical imaging has been studied in the primary regions of Europe, the Americas, Middle East, and Africa and Asia Pacific.

The Americas has been identified as the largest market for optical imaging. Rising prevalence of neurological, ophthalmic, and cardiovascular disorders among the geriatric population triggers market growth in the region. Moreover, a boost in the number of government initiatives along with funding for research within the medical devices sector stimulates market growth. Mounting demand for accurate diagnosis, high awareness regarding the adverse effects of radiation imaging, and presence of highly regarded pharmaceutical companies work in favor of the market. Also, vast patient pool in the region is expected to augment market demand in the years to come.

Europe stands as the second leading market for optical imaging. The robust share is the result of existence of advanced treatment facilities, high healthcare expenditure, and well-developed healthcare infrastructure. The flourishing medical device industry backed by the efforts of prominent players adds to the market strength. Plus, rising knowledge with regard to the benefits of optical imaging compared to radiation imaging spurs the market growth in the region.

Renowned Companies 

Some of the renowned companies shaping the worldwide optical imaging market are Bioptigen, Inc., Agfa-Gevaert N.V., Perkinelmer, Inc., Carl Zeiss Meditec AG, St. Jude Medical, Inc., Topcon Corporation, Heidelberg Engineering, Inc., Canon Inc., Koninklijke Philips N.V., among others. 

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