Optical Imaging Market Outlook 2024-2033: Trends and Projections

Market Size –
The optical imaging market size has grown rapidly in recent years. It will grow from <b>$2.1 billion in 2023 to $2.4 billion in 2024 at a compound annual growth rate (CAGR) of 14.4%. </b> The growth in the historic period can be attributed to data analytics and image processing, consumer electronics integration, cost reduction and accessibility, academic and research institutes, industrial applications.

The optical imaging market size is expected to see rapid growth in the next few years. It will grow to <b>$4.18 billion in 2028 at a compound annual growth rate (CAGR) of 14.9%. </b> The growth in the forecast period can be attributed to healthcare industry evolution, rise in chronic and age-related diseases, non-invasive and minimally invasive imaging demand, biophotonics advancements. Major trends in the forecast period include regulatory adaptation, research and development investments, consumer electronics integration, cost-effectiveness and affordability, enhanced endoscopic imaging.

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Scope Of Optical Imaging Market
The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Optical Imaging Market Overview

Market Drivers –
Rising ageing population is expected to propel the growth of the optical imaging market. The geriatric population refers to a population of people aged 65 and older. The optical imaging technology offers great flexibility owing to its high resolution and multispectral potential, which helps in the diagnosis and treatment of atherosclerosis and related diseases in the geriatric population. Optical imaging techniques use non-ionizing radiation, keeping the adverse effects of radiation in check, causing increased adoption in hospitals for treating older people. For instance, in October 2022, according to the data released by the World Trade Organization, a US-based international organization, from 2020 to 2021, the proportion of the population aged 60 and up increased from 1 billion to 1.4 billion. By 2050, the world’s population of adults aged 60 and up will have doubled (to 2.1 billion). The number of people aged 80 or more is predicted to treble between 2020 and 2050, reaching 426 million. Therefore, a rising ageing population is expected to propel the growth of the optical imaging market.

Market Trends –
The new advancements in technologies are a key trend gaining popularity in the optical imaging market. Major players are launching technologically advanced products to stay ahead in the optical imaging market and gain a prominent market share. For instance, in September 2023, Exo, a US-based medical optical imaging startup, launch imaging device, Exo Iris. Iris is a portable ultrasound device that combines point-of-care imaging, artificial intelligence, and health information technology (IT) systems. Exo Iris is the latest addition to Exo’s ecosystem, which combines imaging, workflow software, and artificial intelligence (AI) to enable POCUS (Point-of-Care Ultrasound) adoption at a system-wide scale. Exo Iris gives caregivers including physicians, nurses, EMTs (Emergency Medical Technician), and clinicians in emergency, acute care, outpatient, and at-home settings a window into the human body for immediate answers at the point of care.

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

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Regional Insights –
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.

Key Companies –
Major companies operating in the optical imaging market report are St. Jude Medical Inc., 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

Table of Contents
1. Executive Summary
2. Optical Imaging Market Report Structure
3. Optical Imaging Market Trends And Strategies
4. Optical Imaging Market – Macro Economic Scenario
5. Optical Imaging Market Size And Growth
…..
27. Optical Imaging Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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