How Will The Optical Imaging Market Globally Expand In 2023?
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s optical imaging market report forecasts the optical imaging market size to grow to $3.53 Billion by 2027, with a CAGR (compound annual growth rate) of more than 13%.
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Optical Imaging Market Size Forecast
The global optical imaging market is expected to grow from $1.87 billion in 2022 to $2.12 billion in 2023 at a compound annual growth rate (CAGR) of 13.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The optical imaging market is expected to grow to $3.53 billion in 2027 at a CAGR of 13.6%.
North America held the largest optical imaging market share.
Key Optical Imaging Market Driver – Rise In The Ageing Population
For example, according to the World Health Organization (WHO), a Switzerland-based agency responsible for international public health, in October 2021, between 2015 and 2050, the proportion of the world’s population over 60 years old will approximately double from 12% to 22%. By 2050, 80% of older people will be living in low- and middle-income countries. Therefore, a rising ageing population is expected to propel the growth of the optical imaging market.
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Key Optical Imaging Market Trend – New Advancements In Technologies
Major players are launching technologically advanced products to stay ahead in the optical imaging market and gain a prominent market share. For instance, in May 2020, GOKO Imaging Devices Co., Ltd. introduced a new product called “Camera Handgrip.” This can be attached to the ultra-high magnification capillary scope GOKO Bscan-Z, which non-invasively observes the shape and flow of skin capillaries in the whole body. Furthermore, in November 2020, Leica Microsystems launched its next-generation EnFocus intraoperative Optical Coherence Tomography (OCT) solution that is built into the Proveo 8 ophthalmic microscope. The innovative ophthalmology portfolio has been developed to support surgical workflow and help ophthalmic surgeons focus on perfection during posterior and anterior segment surgery.
Optical Imaging Market Segment
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
Optical Imaging Market Major Players and Strategies
Major players in the optical imaging market are St. Jude Medical Inc., PerkinElmer Inc., Carl Zeiss Meditec AG, Koninklijke Philips, Topcon Corporation, Bioptigen Inc., Canon Inc., Heidelberg Engineering Inc., Optovue Inc., Headwall Photonics Inc., and Agfa-Gevaert N.V.
In December 2020, ZEISS, a Germany-based firm operating in the fields of optics and optoelectronics, acquired a majority stake in the imaging business of Arivis AG for an undisclosed amount. The acquisition supports research pursuits in ZEISS’ microscopy business. Arivis AG is a Germany-based developer and designer of software for the visualization and analysis of 2D, 3D, and 4D image data.
The Optical Imaging Global Market Report 2023 covers regional data on optical imaging market size, optical imaging market trends and drivers, opportunities, strategies, and optical imaging market competitor analysis. The countries covered in the optical imaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Optical imaging refers to a method for non-invasive investigation of cellular and molecular structures in the living body. The exceptional characteristics of photons help the imaging process generate comprehensive and precise images of smaller structures, from cells and molecules to bigger structures like tissues and organs.
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