NEW YORK, Nov. 12, 2021 /PRNewswire/ -- The global optical imaging market was pegged at ~US$ 1.73 billion in 2020 and is expected to witness a CAGR of ~11.8% during the forecast period.
Incidence of diseases such as cancer has been rapidly rising from the past few years. According to American Cancer Society, by 2040, the global burden of cancer is expected to grow to 27.5 million new cases and 16.3 million cancer deaths simply due to the growth and aging of the population. Such rising number of cases has led to increasing need for diagnostic procedures. Several companies are focusing on R&D to develop new imaging modalities. For instance, Perimeter Medical Imaging AI (Canada), in October 2020, announced that it will be launching FDA approved OTIS, device that incorporates optical coherence tomography imaging with a proprietary tissue immobilization system by 2021. This system could be used for surgical breast cancer treatment. Growing number of innovations in the optical imaging products are anticipated to boost the market growth during the forecast period.
The global optical imaging market has been analyzed from six perspectives: Product, Technique, Therapeutic Area, Application, End User, and Region.
The prominent players operating in the global optical imaging market are:
Carl Zeiss Meditec AG
Koninklijke Philips N.V
Heidelberg Engineering GmbH
Headwall Photonics, Inc
Excerpts from 'By Product Segmentation'
Based on the product, the optical imaging market has been segmented into imaging systems, cameras, lenses, illumination systems, software, and other optical imaging products. The imaging systems segment is further categorized into optical imaging systems and spectral imaging systems. Imaging systems held the largest share of the optical imaging market in 2020. The increasing applications of optical imaging in preclinical & clinical research, disease diagnosis, and drug discovery & development have played a key role in driving the segmental growth.
Excerpts from 'By Region Segmentation'
Based on the region, the global optical imaging market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America held the largest share of the global optical imaging market in 2020. Factors such as large number of clinical and preclinical research activities, greater focus on healthcare and innovation, and rising geriatric population coupled with growing incidence of life threatening diseases such as cancer are anticipated to fuel the growth in this region.
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