The global optical imaging market is expected to grow at a strong CAGR of 12.1% during the forecast period of 2015-2020 and is estimated to be worth 1.75 billion by 2020. The market is mainly driven by the increasing research activities in the pharmaceutical and biotechnology industries; growing demand for non- invasive and safer modalities for therapeutic and diagnostic applications due to increasing healthcare awareness; and successful application of optical imaging technologies in medical diagnostics and therapeutics . However, high cost and extensive data requirements for launching new technologies, stringent regulation for medical devices, reimbursement challenges, lack of data validation, and shortage of skilled operators are hampering the growth of this market.
In this report, the global optical imaging market is segmented by techniques, products, applications, end users, and geography. The optical imaging market is mainly classified by techniques into Optical Coherence Tomography (OCT), Hyperspectral Imaging (HIS), Near-Infrared Spectroscopy (NIRS), and Photoacoustic Tomography (PAT). The optical imaging products market covers imaging systems, cameras, software, lenses, illumination systems, and other optical imaging products. The imaging systems market is further sub-divided into optical imaging systems and spectral imaging systems.
During the forecast period the OCT technique will continue to dominate the optical imaging market. OCT is growing primarily due to its successful clinical applications especially in ophthalmology. Furthermore, growing demand of optical imaging technology in pharmaceutical and biopharmaceutical industries for drug formulation and other usages is also expected to drive the growth of the optical imaging market during the forecast period.
By 2020, North America contributes to the largest share to the global optical imaging market, followed by Europe, Asia-Pacific, and RoW. Developed geographies like North America and Europe are likely to grow at a lower CAGR as compared to the Asia-Pacific market. The Asia- Pacific region is expected to have the fastest market growth during the forecast period, largely driven by the increasing research funding form government and private investors and growing number of research laboratories.
The major players in the optical imaging market include Carl Zeiss Meditec AG (Germany), Topcon Medical Systems, Inc. (U.S.), Bioptigen, Inc. (U.S.), St. Jude Medical (U.S.), Philips N.V. (Netherland), Canon, Inc. (Japan), Perkinelmer, Inc. (U.S.) and others.
Carl Zeiss Meditec AG (Germany), Topcon Corporation (Japan), and Canon, Inc. (Japan), are the leading players in the global optical imaging market in 2014. St. Jude Medical, Inc. and Philips N.V., both have a robust portfolio for optical imaging products. These players have an extensive experience and expertise in OCT technology. On the other hand Carl Zeiss Meditec AG has a strong geographical presence with business operations in several geographies across the globe including, Europe, North America, Latin America, Asia, Middle East, and Africa along with its strong optical imaging product portfolio.
Reasons to Buy the Report
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market which in turn would help the firms in garnering a greater market share. Firms purchasing the report could use any one or combination of the below mentioned five strategies (Market Penetration, Product Development/Innovation, Market Development, Market Diversification, and Competitive Assessment) for reaping a greater market share.
This report provides insights on the following pointers:
- Market Penetration: Comprehensive information on product portfolios offered by the top players in the optical imaging market. The report analyzes the optical imaging market by technique, product, application, and end user across all regions.
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and new product launches in the optical imaging market.
- Market Development: Comprehensive information of the lucrative emerging markets by technique, product, application, end user, and geography.
- Market Diversification: Exhaustive information of new products, growing regions, recent developments, and investments in the global optical imaging market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, products, distribution networks, and manufacturing capabilities of the leading players in the global optical imaging market.