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At What Rate is the Optical Imaging Market Predicted to Expand Between 2024 and 2033?

In recent times, the size of the optical imaging market has seen swift expansion. The figure is expected to escalate from $2.1 billion in 2023 to $2.4 billion in 2024, charting a compound annual growth rate (CAGR) of 14.4%. Factors such as data analytics, image processing, integration with consumer electronics, cost efficiencies, increased accessibility, along with academic and research bodies and industrial applications have contributed to the accelerating growth in the historic period.

The market size for optical imaging is projected to experience swift expansion in the approaching years. The market is expected to reach $4.18 billion by 2028, with a compound annual growth rate (CAGR) of 14.9%. The anticipated growth during this period is due to factors including the modernization of the healthcare sector, an increase in age-related and chronic illnesses, demand for minimal and non-invasive imaging techniques, and progress in biophotonics. Expected trends during this period involve regulatory modifications, investment in research and development, incorporation into consumer electronics, affordability and cost-effectiveness, as well as improved endoscopic imaging.

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What Forces Are Boosting the optical imaging Market’s Growth?

The optical imaging market is anticipated to expand due to an increasing elderly population. The term “geriatric population” pertains to individuals who are 65 years of age or older. Thanks to its high resolution and multispectral features, optical imaging technology offers impressive adaptability, enabling the detection and treatment of atherosclerosis and associated conditions among the elderly. As the technology employs non-ionizing radiation, it keeps harmful radiation effects under control, leading to its growing preference in hospitals for treating aged individuals. October 2022 data released by the World Trade Organization, an international organization based in the US, noted that between 2020 to 2021, the population section aged 60 and above rose from 1 billion to 1.4 billion. By 2050, it is projected that the global population of adults over 60 will double to 2.1 billion. The count of individuals aged 80 or more is estimated to triple from 2020 to 2050, touching 426 million. Consequently, a growth in the aged populace is expected to stimulate the development of the optical imaging market.

Which Segments Are Important in the Optical Imaging Market Landscape?

The optical imaging market covered in this report is segmented –

1) By Product: Imaging Systems, Cameras, Software, Other Products

2) By Application: Pathological Imaging, Intra-operative Imaging

3) By End-User: Hospitals & Clinics, Research Laboratories, Pharmaceutical and Biotechnology Industry

What Are the Latest Trends Impacting the Optical Imaging Market?

The optical imaging market is experiencing a significant trend of technological advancements. To maintain a significant position in the market and enhance their market share, leading players are introducing products with advanced technology. For instance, Exo, an American startup specialising in medical optical imaging, unveiled an imaging device called Exo Iris in September 2023. Iris is a compact ultrasound device that integrates point-of-care imaging, artificial intelligence, and health information technology (IT) systems. Exo Iris is the most recent element of Exo’s ecosystem, which amalgamates imaging, workflow software, and AI to facilitate system-wide integration of POCUS (Point-of-Care Ultrasound). Exo Iris allows healthcare providers, including doctors, nurses, emergency medical technicians (EMTs), and clinicians in emergency, acute care, outpatient, and home-based settings to have instant insights into the human body at the point of care.

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What Regions Are Dominating the Optical Imaging Market Growth?

North America was the largest region in the optical imaging market in 2023. The regions covered in the optical imaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Optical Imaging Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the optical imaging market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Optical Imaging Market Include

1. Optical Imaging Market Executive Summary

2. Optical Imaging Market Segments

3. Optical Imaging Market Size And Template Market Growth Rate

4. Key Optical Imaging Market Trends

5. Major Optical Imaging Market Drivers

……

25. Key Mergers And Acquisitions In The Optical Imaging Market

26. Top Optical Imaging Companies

27. Optical Imaging Market Opportunities And Strategies

28. Optical Imaging Market, Conclusions And Recommendations

29. Appendix

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