Growth Opportunities and Trends in the Optical Imaging Market: Key Insights for 2025-2034
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How has the optical imaging market grown over the years?
In recent times, there has been a rapid expansion in the size of the optical imaging market. The market, which was valued at $2.34 billion in 2024, is projected to increase to $2.66 billion in 2025, indicating a compound annual growth rate (CAGR) of 13.7%. Factors contributing to the growth during the historic period include advancements in data analytics and image processing, the incorporation of consumer electronics, cost efficiency and accessibility, as well as contributions from academic and research institutes and industrial applications.
What Is the forecasted market size and growth rate for the optical imaging market?
The market size for optical imaging is forecasted to experience a swift expansion in the coming years, reaching $4.82 billion by 2029 with a compound annual growth rate (CAGR) of 16.0%. The surge during the prediction period can be credited to advancements in the healthcare sector, an increase in chronic and age-based illnesses, demand for non-invasive and minimally invasive imaging, as well as developments in biophotonics. Key tendencies during the projected period involve regulatory adjustments, investments in research and development, integration of consumer electronics, economic viability and accessibility, and the enhancement of endoscopic imaging.
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What are the major factors driving growth in the optical imaging market?
The anticipated increase in the ageing population is set to drive the expansion of the optical imaging market. The term “geriatric population” refers to individuals aged 65 and above. Thanks to its high resolution and multispectral capabilities, optical imaging technology offers significant flexibility, aiding in the diagnosis and treatment of atherosclerosis and related conditions among older individuals. Since optical imaging methods employ non-ionizing radiation, this mitigates the harmful effects of radiation. It results in its increased use in hospitals for the treatment of elderly patients. For example, in October 2022, the World Trade Organization, a US-based global organization, disclosed data showing that by 2050, the global population of adults aged 60 and above will have doubled to reach 2.1 billion. Additionally, the population of individuals aged 80 and above is set to triple from 2020 to 2050, amounting to 426 million. As such, the predicted rise in the ageing population is expected to fuel the growth of the optical imaging market.
What key areas define the segmentation of the global optical imaging Market?
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 And Clinics, Research Laboratories, Pharmaceutical And Biotechnology Industry
Subsegments:
1) By Imaging Systems: Fluorescence Imaging Systems, Multispectral Imaging Systems, Hyperspectral Imaging Systems
2) By Cameras: CCD Cameras, CMOS Cameras, Scientific Cameras
3) By Software: Image Analysis Software, Visualization Software, Processing Software
4) By Other Products: Light Sources, Optical Filters, Lenses And Accessories
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What are the top market players propelling the growth of the optical imaging industry?
Major companies operating in the optical imaging market are PerkinElmer Inc., Carl Zeiss Meditec AG, Koninklijke Philips N.V., Topcon Corporation, Bioptigen Inc., Canon Inc., Heidelberg Engineering Inc., Optovue Inc., Headwall Photonics Inc., Agfa-Gevaert N.V., Hamamatsu Photonics K.K., Hitachi Medical Corporation, Imalux Corporation, Infraredx Inc., Bruker Corporation, ChemImage Corporation, Cytoviva Inc., Leica Biosystems Nussloch GmbH, Michelson Diagnostics Ltd., Raytheon ELCAN Optical Technologies, Santec Corporation, Danaher Corporation, Thorlabs Inc., Tomophase Corporation, Ziemer Ophthalmic Systems AG, Axsun Technologies, Bioptics Inc., Andor Technology Ltd., Abberior Instruments GmbH
What are the key trends shaping the future of the optical imaging market?
Emerging technological advancements are the leading trend becoming increasingly popular within the optical imaging market. To secure a significant market share and remain competitive, major players are introducing technology-driven products. For example, in September 2023, a US-based medical optical imaging start-up, Exo, unveiled an imaging device, Exo Iris. The Iris is a compact ultrasound device that marries point-of-care imaging, artificial intelligence, and health information technology (IT) systems. The newly-introduced Exo Iris expands Exo’s ecosystem that fuses imaging, workflow software, and AI to enhance POCUS (Point-of-Care Ultrasound) application on a large scale. For instant solutions at the point of care, Exo Iris provides a visual insight into the human body for caregivers, such as doctors, nurses, EMTs (Emergency Medical Technician), and clinicians in emergency, immediate care, outpatient and in-home settings.
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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 2024. The regions covered in the optical imaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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