By Technology (Photoacoustic Imaging, Optical Coherence Tomography (OCT), Hyperspectral Imaging, Near Infrared Spectroscopy and Others), By Application (Dermatology, Ophthalmology, Dentistry, Neurology, Cardiology, Oncology and Others), By end user a(Hospitals, Research Laboratories, Medical Imaging Centres and Others) and Geography – Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012 to 2016 and Forecast 2017 to 2023
Market Outline: Optical Imaging Market
Optical Imaging refers to the use of light as an imaging technique for medical applications. These optical techniques include optical microscopy, spectroscopy, endoscopy, scanning laser ophthalmoscopy, and optical coherence tomography. Optical imaging is an emerging technology with great potential for improving disease prevention, diagnosis and treatment.
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Market Dynamics: Optical Imaging Market
Global Optical imaging market is mainly driven by the rise in demand for the radiation free imaging techniques and technological advancements in optical imaging led to produce in depth images of the body tissues. Furthermore, growing prevalence of the ophthalmic and neurological disorders coupled with the application of optical imaging in drug development expected to boost the global optical imaging market during the forecast period. However, high installation and maintenance costs, lack of skilled professionals and stringent regulatory policies are expected to hamper the global optical imaging market over the forecast period.
Market Scope: Optical Imaging Market
Global Optical Imaging market is segmented based on technology, application and end user
Based on technology, global optical imaging market is segmented into
- Photoacoustic Imaging
- Optical Coherence Tomography (OCT)
- Hyperspectral Imaging
- Near Infrared Spectroscopy
- Others
Based on application, global optical imaging market is segmented into
- Dermatology
- Ophthalmology
- Dentistry
- Neurology
- Cardiology
- Oncology
- Others
Based on end user, global optical imaging market is segmented into
- Hospitals
- Research Laboratories
- Medical Imaging Centres
- Others
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Market overview: Optical Imaging Market
Global Optical Imaging market is expected to grow at significant rates owing to growing number of cancer cases and advantages of optical imaging techniques over the other imaging techniques such as less radiation, patient and physician safety. Companies operating in global optical imaging market are focusing on strengthening of their technologies and product portfolio by adapting the strategies such as mergers and acquisitions. For instance, in February 2016, SpectraScience Inc. acquired the assets of Oncoscope, Inc., a company developed proprietary optical imaging system which helps to detect precancerous epithelial tissue using scattered white light. Similarly in February 2015, Nikon Corporation entered into medical devices market segment by the acquisition of British retinal imaging company Optos Plc. Furthermore, Market players are also involving in developing of advanced technologies and new product launches to increase their market share.
Region Overview: Optical Imaging Market
Geographically Optical Imaging market is divided into five key regions, i.e. North America, Europe, Asia- Pacific, Latin America, and The Middle East & Africa. North America optical imaging market is expected to grow at notable rates owing to the factors such as well-established healthcare infrastructure, increase in elder population who are susceptible to the eye related diseases and technological advancements that enabled producing images of deeper tissues through optical technology. Owing to the increase in healthcare spending by the government and public, developing healthcare infrastructure and growing population in countries such as India and China, Asia pacific optical imaging market is projected to grow at significant rates. Europe optical imaging market is projected to have lucrative growth opportunity owing to ageing population and adoption of advanced technologies.
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Competition Assessment: Optical Imaging Market
Key player’s profiles in global optical imaging market include
- Carl Zeiss AG (Germany)
- Bioptigen Inc. (U.S.)
- SpectraScience Inc. (U.S.)
- Cytoviva Inc. (Aetos Technologies Inc.) (U.S.)
- Optical Imaging Ltd. (Israel)
- Michelson Diagnostics Ltd. (U.K.)
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- (U.S.)
- Nikon Corporation (Japan)
- Raytheon ELCAN Optical Technologies (The Raytheon Company) (U.S.)
- Jude Medical Inc. (U.S.)
- Somanetics Corporation (U.S.)
- Volcano Corporation (Volcano Corporation) (Netherlands)
- Topcon Medical Systems Inc. (Topcon Corporation) (Japan)
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