The optical imaging market is expected to grow substantially over the next five years, reaching $2.9 billion by 2027. Technological advancements in optical imaging systems and increasing demand from the medical and consumer electronics industries are fueling market growth. The rising geriatric population is also contributing to growth as it is increasing the prevalence of eye disorders that can be diagnosed using optical imaging. Hospitals currently make up the largest end user segment due to greater adoption of these technologies. North America dominates the market currently due to high demand and presence of major players.

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Optical Imaging Market worth
$2.9 billion |
MarketsandMarkets
NEWS PROVIDED BY
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27 Feb, 2023, 12:30 ET
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CHICAGO, Feb. 27, 2023 /PRNewswire/ -- The optical imaging industry is expected to experience significant growth in the
near future. Rising demand for medical imaging and the increasing demand for consumer electronics are expected to
drive the market. Technological advancements in optical imaging systems, such as miniature cameras and endoscopes,
are also expected to contribute to the growth of the industry. The increasing demand for optical imaging in medical
applications, such as diagnosis and treatment of diseases, is expected to drive the industry. Optical imaging technologies,
such as optical coherence tomography, are increasingly being used in medical applications. This is expected to fuel the
growth of the optical imaging industry. The rising demand for consumer electronics, such as smartphones, cameras and
tablets, is also expected to bolster the optical imaging industry. These devices are equipped with advanced optical
imaging systems to capture high-quality images.
Optical Imaging Market in terms of revenue was estimated to be worth $1.5 billion in 2022 and is poised to reach $2.9
billion by 2027, growing at a CAGR of 13.5% from 2022 to 2027 according to a new report by MarketsandMarkets™. The
market is expanding as a result of factors such as an aging population, an increase in R&D in the life sciences, growing
patient expectations for quick and simple diagnosis and treatment, rising information availability and knowledge, and
expanding access to health care in Rapidly Developing Economies (RDE) are some other key factors influencing the
market's growth.
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Browse in-depth TOC on "Optical Imaging Market"
216 - Tables
47 - Figures
258 - Pages
Optical Imaging Market Scope:
Report Coverage Details
Market Revenue in 2022 $1.5 billion
Estimated Value by 2027 $2.9 billion
Growth Rate Poised to grow at a CAGR of 13.5%
Market Size Available for 2020-2027
Forecast Period 2022-2027
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Optical imaging Market:
Product, Application, Therapeutic Area, Techniques and End User
Geographies Covered North America
US
Canada
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia Pacific
China
Japan

2. India
Australia
South Korea
Rest of Asia Pacific (RoAPAC)
Latin America
Brazil
Rest of Latin America
Report Highlights Updated financial information / product portfolio of players
Key Market Opportunities Emerging economies
Key Market Drivers Increasing prevalence of eye disorders due to the rising geriatric population
Based on product, the imaging systems segment is expected to account for the largest share of the optical
imaging market
Need for good quality equipment and technologies are increasing in recent times, leading to continuous development by
market players. Growing competitiveness among players in the market calls for new improved systems and devices to be
introduced in this market. Need for non-invasive, non-contact optical imaging modality with no harmful radiation is an
additional factor influencing the market growth. Second to the imaging systems segment, is camera market. Small size,
better sensitivity, and high-resolution imaging capability are expected to drive the greater adoption of cameras for
different medical diagnostics applications.
On the basis of application, pathological segment is expected to account for the largest share of the optical
imaging market
One of the main drivers of market expansion in the pathological category is the high demand for optical imaging systems
in the diagnosis of eye disorders, tumor detection, cardiovascular diseases, skin lesions, and other such illnesses. The
popularity of optical imaging systems for pathological application is being fueled by non-invasiveness, precise image
capture capabilities, and greater adoption in clinical practice, which is affecting market growth. Due to its low operational
costs and relative ease of use, pathological imaging is widely used by clinicians worldwide. Specificity and efficacy of
diagnosis is enhanced in this segment due to the use of optical imaging instruments.
Based of end user, hospitals segment holds the highest market share in the optical imaging market
Due to rising government and private healthcare funding, rising hospital adoption of optical imaging, greater accessibility
to qualified healthcare workers and technologically cutting-edge facilities, and rising adoption of optical imaging overall,
hospitals dominated the optical imaging market during the forecast period. Optical imaging techniques are applied in
clinics and operating rooms to locate and resect malignant tumors. For example, fluorescence imaging is gaining
importance in initial clinical testing in breast imaging and endoscopy areas. Moreover, some optical imaging techniques
are used to detect ovarian cancer, malignant skin lesions, lymphoma, intestinal adenoma, intraoperative scanning, stem
cell trafficking, and monitoring of patient response to various treatments
Based on Region, North America to dominate the optical imaging market during the forecast period
North America will continue to rule the optical imaging market over the forecast period. The greatest market share in the
world is attributable to this region, which has seen a surge in glaucoma cases, government support, and the importance
of research and development by well-known companies based there. In addition, stringent FDA regulations regarding
the product, medical procedures, and research ensure the quality and safety of optical imaging instruments and
technologies in the region. This is encouraging healthcare centers in North America to utilize optical imaging for various
interventions and quickly adapt to newer technologies, which is driving the growth of the optical imaging market in
North America
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Optical Imaging Market Dynamics:
Drivers:
1. Growing geriatric population and subsequent increase in prevalence of eye disorders
2. Technological innovations
3. Growing application areas of optical imaging techniques
4. Growing need to minimize use of radiation technologies
Restraints:

3. 1. Reimbursement challenges
2. Lack of skilled operators
Opportunities:
1. Expansion and market penetration opportunities in emerging economies
2. Growing applications in pharmaceutical & biotechnology research
Challenges:
1. Sustainability of small and medium-sized players
2. High cost of optical imaging procedures and extensive data requirements
Key Market Players:
Prominent players in the optical imaging market include Carl Zeiss Meditec (Germany), Abbott (US), Topcon Corporation
(Japan), Canon (Japan), PerkinElmer (US), Koninklijke Philips (Netherlands), Heidelberg Engineering (US), Leica
Microsystems (Germany), Headwall Photonics (US), Visionix (US), Optical Imaging (Israel), Optos (Scotland), Wasatch
Photonics (US), ArcScan (US), DermaLumics (Spain), Cylite (Australia), MOPTIM (Guangdong), Michelson Diagnostics
(England), Thorlabs (US), Hamamatsu Photonics (Japan), iTheraMedical (Germany), Kibero (Germany), Seno Medical (US),
Aspectus Imaging (Germany), and Agfa-Gevaert (Belgium).
Recent Developments
In January 2023, Canon Medical Inc., partnered with ScImage. The strategic partnership between the two companies
will directly broaden and advance Canon Medical Systems' outreach in hemodynamics with the Fysicon QMAPP
Hemo portfolio (Fysicon is a Canon Medical subsidiary). As a result, Canon Medical plans to increase its presence in
the cardiac market, offering innovative solutions and unique business models tailored to each client's specific needs.
In August 2021, Topcon partnered with RetInSight to develop a seamless interface between RetInSight's AI-assisted
retinal biomarker applications and Topcon's market-leading OCT devices and cloud-based data management
solution, Harmony.
In December 2020, Carl Zeiss acquired arivis to further strengthen its software competencies and market position in
3D image visualization, image processing, and analysis software for research microscopy.
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Optical Imaging Market Advantages:
Cost Effective: Optical imaging technology is relatively cost-effective compared to other imaging modalities, making
it a great choice for many medical facilities.
Non-Invasive: Optical imaging is non-invasive and does not require any radiation exposure, which makes it suitable
for imaging delicate organs and tissues.
High Resolution: Optical imaging technology has high resolution and provides detailed images of tissues and
organs.
Versatility: Optical imaging can be used for a variety of applications, including diagnostics and therapeutic
treatments.
Safety: Optical imaging systems are very safe and do not require any hazardous materials or processes.
Optical Imaging Market- Report Highlights:
Refinement in the segments of the global optical imaging market:
The current edition of the report consists of an updated market overview, average selling price trends, value chain
analysis, Porter's Five Forces analysis, ecosystem map, pricing analysis, patent analysis, and new industry insights.
The report also consists of the impact of recession on the global optical imaging market.
The competitive landscape chapter has been updated with the market evaluation framework and updated product
portfolio matrix. The competitive landscape also includes the revenue share analysis of the top market players and
an updated competitive situation and trends section.

4. Competitive leadership mapping for SMEs/start-ups has also been updated for the optical imaging market.
Coverage of players in the optical imaging market:
Company profiles give a glimpse of the key players in the market with respect to business overviews, financials, product
offerings, and recent developments. The report includes profiles for Carl Zeiss Meditec (Germany), Abbott (US), Topcon
Corporation (Japan), Canon (Japan), PerkinElmer (US), Koninklijke Philips (Netherlands), Heidelberg Engineering (US),
Leica Microsystems (Germany), Headwall Photonics (US), Visionix (US), Optical Imaging (Israel), Optos (Scotland), Wasatch
Photonics (US), ArcScan (US), DermaLumics (Spain), Cylite (Australia), MOPTIM (Guangdong), Michelson Diagnostics
(England), Thorlabs (US), Hamamatsu Photonics (Japan), iTheraMedical (Germany), Kibero (Germany), Seno Medical (US),
Aspectus Imaging (Germany), and Agfa-Gevaert (Belgium).
Updated financial information/product portfolio of players:
The new edition of the report provides updated financial information in the optical imaging market till 2021 for each
listed company in a single diagram. This will easily help analyze the present status of profiled companies in terms of
their financial strength, profitability, key revenue-generating region/country, business segment focus in terms of the
highest revenue-generating segment, and investments in R&D.
Updated market developments of profiled players:
Recent developments are important to understand market trends and the growth strategies adopted by players. The
current edition of this report provides updated developments of profiled players from January 2019 to January 2023,
indicating a continuation from the previous version. Product launches, expansions, acquisitions, agreements,
partnerships, and collaborations have been the principal growth strategies adopted by market players within this
period.
Recession Impact:
The impact of recession has been considered in the research methodology and market forecast for the years 2020 and
2021. It has also been analyzed in the regional segmentation. The market dynamics have also been updated taking into
consideration the current scenario.
Research for this report involved the use of a large number of secondary and primary sources. Secondary sources include
directories; databases such as Bloomberg Business, and Factiva; white papers; annual reports; company house documents;
investor presentations; and SEC filings of companies. During the primary research process, in-depth interviews were
conducted with various primary respondents, which include key opinion leaders, subject matter experts, directors, and C-
level executives of distributors and suppliers, to obtain and verify critical qualitative and quantitative information. This
primary data was collected mainly through questionnaires, emails, and telephonic interviews.
Browse Adjacent Market:
Related Reports:
Optical Imaging Market - Global Forecasts to 2027
Ophthalmic Equipment Market - Global Forecasts to 2027
Diagnostic Imaging Market - Global Forecasts to 2026
Near Infrared Imaging Market - Global Forecasts to 2026
Intraoperative Imaging Market - Global Forecasts to 2025
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