Optical Imaging Market by Product (Cameras, Lenses), Technique (OCT, HIS, NIR, PAT), Therapeutic Area (Ophthalmology, Dermatology, Oncology), Application (Pathological, Intraoperative), End User (Hospital, Research Labs) - Global Forecast to 2027

Optical Imaging Market by Product (Cameras, Lenses), Technique (OCT, HIS, NIR, PAT), Therapeutic Area (Ophthalmology, Dermatology, Oncology), Application (Pathological, Intraoperative), End User (Hospital, Research Labs) - Global Forecast to 2027

The global optical imaging market is projected to reach USD 2.9 billion by 2027 from USD 1.5 billion in 2022, at a CAGR of 13.5%. The competitive landscape includes the analysis of the key growth strategies adopted by major players between January 2019 and January 2023. Players in the global optical imaging market have employed various strategies to expand their global footprint and increase their market shares such as agreements, divestitures, expansions, and acquisitions.

“Software accounted for the fastest growing segment in the optical imaging product market”

Efficient visualization and quantitative evaluation of volumetric data gathered during the imaging process makes it an essential subsegment in this market. Continuous upgrades in existing systems is possible due to high tech software solutions that allows improved performance and enables precise decision making. Major players also market separate software solutions to provide enhanced capabilities to prior installed systems at end user site and ensure cost efficiency. Thus, it is the fastest growing segment in this market.

“Intra-operative accounted for the fastest growing segment in the optical imaging application market”

Increasing need for reproducibility & accuracy in medical processes and rising labor costs, propelled the intra-operative market growth. Moreover, various government bodies have extended their support through investments and funds, promoting research-related activities in this market. Support during surgical workflow and eases surgical decisions, are the major reasons for improved adoption of optical imaging systems in intraoperative sector.

“Optical coherence tomography segment accounted for the largest share in the optical imaging market”

This technique accounted for the largest share in the techniques segment owing to its implementation in numerous application areas and rising demand for use in dentistry, gynecology, urology, and others. Increased development initiative by players to launch new OCT systems is also influencing the market growth. Increased need of end users to adopt technologically superior systems such as opto-acoustic systems that is powered with the technological ability of optical coherence tomography and photoacoustic and the rising demand for safer, accurate, and precise systems have enhanced the market growth.

“North America to dominate the optical imaging market during the forecast period”

The optical imaging market in North America dominated the optical imaging market in the forecast period. The largest share of North America in the global market is attributed to the rise in cancer cases and increased research to develop advanced technology for neurological imaging. Presence of major optical imaging players and increase in geriatric population are the factors influencing the market growth. Additionally, the presence of many biopharmaceutical companies and research laboratories engaged in preclinical studies as well as the development of therapeutics in the US region of North America, also boosted the overall regional market.

Key Market Players:

The prominent players in the optical imaging market include Carl Zeiss Meditec AG (Germany), Abbott (US), Topcon Corporation (Japan), Canon Inc. (Japan), PerkinElmer, Inc. (US), Koninklijke Philips N.V. (Netherlands), Heidelberg Engineering (US), Leica Microsystems (Germany), Headwall Photonics, Inc. (US), Visionix (US), Optical Imaging Ltd. (Israel), Optos (Scotland), Wasatch Photonics (Utah), ArcScan Inc.(US), DermaLumics (Spain), Cylite Pty Ltd. (Australia), MOPTIM (Guangdong), Michelson Diagnostics Ltd. (England), Thorlabs (US), Hamamatsu Photonics K.K. (Japan), iTheraMedical (Germany), Kibero (Germany), Seno Medical (US), Aspectus Imaging (Germany), and Agfa-Gevaert N.V (Belgium).

A breakdown of the primary participants for the optical imaging market (By Supply Side) referred to for this report is provided below:

By Company Type: Tier 1–42%, Tier 2–31%, and Tier 3–27%

By Designation: C-level–30%, Director Level–45%, and Others–25%

By Region: North America–42%, Europe–28%, Asia Pacific–19%, RoW- 11%

Research Coverage:

The market study covers the optical imaging market across various segments. It aims at estimating the market size and the growth potential of this market across different segments by product, by application, by end user, by techniques, by therapeutic area, and by region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report:

The report will help market leaders/new entrants in this market and provide information regarding the closest approximations of the optical imaging market and its segments. This report will help stakeholders understand the competitive landscape, gain insights to position their businesses better, and plan suitable go-to-market strategies. The report will also help stakeholders in understanding the pulse of the market and gaining information on key market drivers, restraints, opportunities, and challenges.