Optical imaging is a medical technique which uses visible light to get detailed images of tissues, organs and even micro structures such as cells and molecules. Global optical imaging industry is envisioned to behold a compound annual growth rate (CAGR) of 12.3% to reach USD 1.8 Billion over the forecast period i.e. 2015-2021.
“Global Optical Imaging Market Analysis & Opportunity Outlook 2021”
Optical Imaging Market Overview
Optical imaging is a medical technique which uses visible light to get detailed images of tissues, organs and even micro structures such as cells and molecules. The advancements in the technology have transformed the medical industry in a big way and optical imaging is one such example which has revolutionised the healthcare sector by effectively increasing the diseases detection.
Market Size and Forecast
Global Optical Imaging Market industry is envisioned to behold a compound annual growth rate (CAGR) of 12.3% to reach USD 1.8 Billion over the forecast period i.e. 2015-2021. Geographically, the global optical imaging market is segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific and Rest of World.
At present, North America is believed to dominate the global optical imaging market followed by Europe.
North America optical imaging market is anticipated to expand from USD 403 Million in 2014 to USD 762 Million in 2021, registering a CAGR of 9.53%. Higher government spending on healthcare sector is one of the most prominent factors driving the growth of North America optical imaging market.
Further, Europe optical imaging market is believed to get sparked by rapid expansion of aging population in countries such as Spain, Germany, Italy, U.K.,.
Coming down in Asia-Pacific, optical imaging market is expected to witness the highest growth rate over the forecast period. Optical imaging market in the region is likely to get propelled from sturdy GDP growth rate, increasing investments in healthcare infrastructure and rising population in countries such as India and China.
In addition to that, expanding geriatric population in Japan is also expected to fuel the growth of Asia-Pacific optical imaging market over next 5-6 years.
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Growth Drivers and challenges
Escalating demand of radiation free imaging techniques in biomedical and pharmaceutical industries is likely to foster the growth of global optical imaging market in future. In addition to that rising prevalence of ophthalmological and neurological disorders is also believed to garner the growth of global optical imaging market.
However, high development and installation cost along with rigorous government regulations are expected to hamper the growth of optical imaging market over the forecast period i.e. 2015-2021.
Global optical imaging market is very competitive and includes some of the top players such as St. Jude Medical, Leica Microsystems, Carl Zeiss Meditec AG, Bioptigen Inc., Headwall Photonics Inc., Raytheon ELCAN Optical Technologies, Somanetics Corporation, Abbott, Topcon Medical systems, Inc., Heidelberg Engineering, Inc..
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