Ottawa, Jan. 22, 2025 (GLOBE NEWSWIRE) -- The global optical imaging market size was valued at USD 2.26 billion in 2024 and is predicted to hit around USD 5.89 billion by 2033, a study published by Towards Healthcare a sister firm of Precedence Statistics.
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Optical Imaging Market: An Overview and Growth Prospects
Optical imaging offers unparalleled resolution and depth in imaging, making it a preferred choice for early disease detection and precision diagnostics. This sophisticated system finds application in oncology, ophthalmology, neurology, and dermatology as it provides real-time images of structural and functional cellular and molecular changes with clear distinction. The market is experiencing rapid growth due to the increasing demand for high-quality imaging solutions. Moreover, the rising investments and initiatives to advance imaging technologies contribute to market expansion.
- For instance, in October 2024, the NIH Common Fund, along with its partner NIH Institutes, Centers, and Offices, planned to issue a Notice of Funding Opportunity (NOFO) to solicit applications for the venture program initiative advancing non-invasive optical imaging (NIOI) approaches for a biological system. NIOI seeks to develop integrated technologies that can radically increase the depth, speed, and scope of imaging in a wide range of biological systems and the ability to improve the imaging depth as well as spatial and temporal resolution of optical technologies. NIOI will advance the field of optical imaging to improve diagnostic, interventional, and research applications.
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Major Trends in the Optical Imaging Market
- Rising Prevalence of Chronic Diseases: The growing burden of chronic diseases, such as cancer, cardiovascular disorders (CVDs), and neurological conditions, is boosting the need for optical imaging technologies. Non-communicable diseases contribute to more than 70% of global deaths every year, representing the need for efficient diagnostic solutions. However, optical imaging technologies save at least billions of dollars from the world’s healthcare budgets annually by improving the efficacy of diagnosis and therapy.
- Advancements in Imaging Technologies: Technological innovations such as optical coherence tomography (OCT), near-infrared spectroscopy, and fluorescence imaging are expanding the scope of optical imaging. OCT is now considered indispensable in ophthalmology to identify pathologies, such as macular degeneration or diabetic retinopathy. Additionally, near-infrared spectroscopy and fluorescence imaging are ideal tools for diagnosing cancer and cardiovascular diseases due to their spatial and temporal resolution.
- Growing Demand for Non-invasive Techniques: The preference for non-invasive and radiation-free diagnostic methods is increasing rapidly, contributing to the growth of the market. However, optical imaging is a non-invasive method that uses light and special properties of photons to obtain detailed images of tissues, cells, organs, and molecules. Optical imaging reduces a patient’s exposure to harmful ionizing radiations such as X-rays. This technology provides specific pictures through contrast-enhanced imaging without using any radiation.
Thus, it is widely favored for diagnostic purposes in pediatrics and oncology, where the use of radiation poses a danger to the patient. In pediatric care, this method is preferred to avoid possible adverse effects that radiation exposure might bring in the future. Likewise, in oncology, optical imaging helps to identify a tumor’s exact location and size.
- Integration of Artificial Intelligence (AI): Integrating AI features in optical imaging systems streamlines image analysis, enhances accuracy, and reduces diagnostic errors. These systems quickly recognize complicated forms of imaging data, resulting in increased utility in the early detection of diseases. AI facilitates the early detection of small lesions, which may be hard to spot. Furthermore, these advanced technologies minimize the burden of addressing patient needs while enhancing the accuracy of diagnoses.
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Regional Insights
North America’s Sustain Dominance in the Market
North America dominated the optical imaging market with the largest share in 2024. This is primarily due to well-established healthcare infrastructure and the presence of major market players, such as Carl Zeiss Meditec AG and PerkinElmer, Inc. Stringent regulations further guarantee that sophisticated diagnostic equipment and technologies are safe and effective. Continued advancements in imaging technologies, including optical coherence tomography (OCT) and fluorescence imaging, further bolstered the market in North America. In addition, the increased incidence of chronic diseases, especially cardiovascular diseases, and the heightened awareness among people about the benefits of non-invasive diagnostic techniques augmented regional market growth.
Rising Awareness of Early Disease Detection to Boost Market in Asia Pacific
Asia Pacific is expected to witness rapid growth in the optical imaging market during the forecast period due to the increasing awareness about early disease detection. This, in turn, boosts the demand for advanced diagnostic and imaging solutions, including optical imaging. Moreover, rising government initiatives and investments to advance healthcare infrastructure contribute to regional market growth. For instance, India's Ayushman Bharat and China's Healthy China 2030 plans emphasize improved diagnostic capabilities, fostering the adoption of advanced imaging technologies.
Optical Imaging Market Segmentation
- By technology, the optical coherence tomography segment registered dominance in the market in 2024. This is mainly due to the increased cases of eye disorders. However, optical coherence tomography (OCT) takes cross-section pictures of the retina. In addition, advancements in imaging technologies and a heightened need for non-invasive methods bolstered the segment.
- By product, the imaging systems segment dominated the market with the largest share in 2024. This is due to the widespread adoption of advanced imaging technologies, increased demand for diagnostic imaging, and the rising prevalence of chronic diseases.
- By application, the pathological segment dominated the global market in 2024 and is projected to continue its dominance during the forecast period due to the increasing prevalence of chronic diseases, rising demand for accurate and early diagnosis, and continuous advancements in optical imaging technology.
- By end-use, the research labs segment dominated the market in 2024. The segment’s dominance is attributed to the increased adoption of optical imaging technologies in research labs for biomedical applications. Moreover, increased funding for research and development augmented segmental growth.
- By therapeutic area, the oncology segment led the market in 2024 due to the increased prevalence of cancer and the adoption of optical imaging for early detection and treatment planning.
Competitive Landscape
Key players operating in the optical imaging market include Abbott Laboratories, Canon Medical Systems Corporation, Carl Zeiss AG, Cylite Pvt. Ltd., Headwall Photonics, Inc., Heidelberg Engineering, Inc., Topcon Corporation, Leica Microsystems, Meditec AG, PerkinElmer, Inc., and Philips. These companies are focusing on technological innovations and strategic collaborations to gain competitive edge.
In October 2023, Abbott announced the launch of its new vascular imaging platform powered by Ultreon 1.0 Software in India. This first-of-its-kind intra-vascular imaging software combines optical coherence tomography (OCT) with the power of artificial intelligence (AI), providing physicians a comprehensive view of blood flow and blockages within coronary arteries.
Recent Developments
- In June 2024, NIDEK CO., LTD. announced the launch of the RS-1 Glauvas Optical Coherence Tomography system. This innovative OCT system boasts up to 250kHz scan speed, high-quality wide and deep area imaging, great operability, and deep learning-based analytics. These capabilities ensure streamlined workflow and diagnostic confidence for glaucoma and retinal vascular diseases in high-volume clinical practices.
- In February 2024, MILabs introduced the latest in vivo optical imaging innovations, combining high performance with affordability and upgradability. Its extensive optical imaging product portfolio now includes new economical benchtop units for 2D imaging of up to ten mice simultaneously, extendable to 3D and 4D optical tomography when combined with MILab’s U-CT – a high-performance diagnostic CT system.
- In May 2024, Revvity, Inc. introduced its enhanced imaging portfolio designed to drive innovation across diverse applications in preclinical research with the launch of three systems. These new innovations include the next-generation IVIS Spectrum 2 and the IVIS SpectrumCT 2 imaging systems, further elevating versatility and sensitivity standards in in vivo optical imaging.
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Segments Covered in the Report
By Technology
- Optical Coherence Tomography
- Photoacoustic Tomography
- Hyperspectral Imaging
- Near-Infrared Spectroscopy
By Product
- Imaging Systems
- Optical
- Spectral
- Optical Imaging Software
- Illumination Systems
- Others
By Application
- Pathological
- Intraoperative
By End-Use
- Research Labs
- Pharmaceutical & Biotechnological Companies
- Hospitals & Clinics
By Therapeutic Area
- Oncology
- Opthalmology
- Cardiology
- Dermatology
- Neurology
By Region
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa (MEA)
Discover our detailed Table of Contents (TOC) for the Optical Imaging Market
@ https://www.towardshealthcare.com/table-of-content/optical-imaging-market-sizing
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Towards Healthcare is a leading global provider of technological solutions, clinical research services, and advanced analytics to the healthcare sector, committed to forming creative connections that result in actionable insights and creative innovations. We are a global strategy consulting firm that assists business leaders in gaining a competitive edge and accelerating growth. We are a provider of technological solutions, clinical research services, and advanced analytics to the healthcare sector, committed to forming creative connections that result in actionable insights and creative innovations.
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