Optical Imaging Market - Global Industry Insights, Trends, Size, Share, Outlook, and Opportunity Analysis, 2018-2026

Optical imaging is an emerging non-invasive technique used for capturing images of the internal parts of the body. Visible light and photons are incorporated to take the complete image of internal organs and tissues, the images of smaller structures are also taken, which include cells and molecules. Optical imaging uses the properties of photons such absorption and scattering, the spectra of light measures and perceives the properties of organs and soft tissues. Although, optical imaging technology is at its early phase of development, a wide range of technological advantages are offered over current imaging technologies. The images are referred by doctors for diagnosis and treatment of various diseases and by scientists for carrying out diverse research work. Optical imaging has proved to be much harmless and efficient compared to MRI and X-ray that use ionizing radiation for imaging.

The non-invasive technology and increasing prevalence is expected to boost the growth of optical imaging market

According to the World Health Organization in 2012, population above 65 years has grown the highest and is expected to rise from 13% in 2010 to 53% by 2020. The key factors contributing to the growth of the optical imaging market are high prevalence of neurological and ophthalmologic disorders, increase in R&D activities in the life sciences sector, preclinical research, rising demand for radiation free imaging modalities in drug discovery processes. Moreover, the provision to acquire in-depth images of complex components of eyes, surface tissues, membranes vascular systems and gastrointestinal tract are driving the growth of the global market. Furthermore, vast application scope of the advance optical imaging products, operator and patient safety and comfort are other factors driving the growth. The emerging state of optical imaging market is also due to the use of non-ionizing radiations that reduce the harmful radiation exposure of patients.

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Development in healthcare infrastructure and rising prevalence of chronic diseases is expected to dominate North American optical imaging market

North America dominates the global optical imaging industry as the high usage of the optical imaging technologies in applications like oncology, dentistry and dermatology. It also comprises of huge geriatric population suffering from disorders that require optical imaging devices, which in turn will contribute towards the growth of optical imaging market. According to the National Institute of Aging in 2015, 524 million people were aged 65 or older in 2010 and by 2050 it is estimated to nearly triple to about 1.5 billion, which will represent 16 percent of the world’s population. Key factors responsible for the rapid growth of Asia-Pacific market is the presence of high patient population suffering from various disorders along with high prevalence of chronic diseases. Increasing healthcare awareness, development of healthcare infrastructure, growing purchase power will fuel the growth of global optical imaging market.

Key players operating in the optical imaging market are Abbott, Bioptigen, Inc., Topcon Medical systems, Inc., Carl Zeiss Meditec AG, Heidelberg Engineering, Inc., Santec Corporation, Headwall Photonics, Inc., AGFA Healthcare, Headwall Photonics, Inc. and Optovue, Inc.

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Key Developments –

In May 2019, Santec Corporation, manufacturer of optical components and OCT systems, announced the collaboration with Alcon Inc. Under the collaboration Santec’s product ARGOS diagnostic testing is planned to integrate with Alcon’s Cataract Refractive Suite Technologies. Additionally, Alcon was responsible for global distribution of ARGOS biometer

In May 2019, Santec Corporation received U.S Food and Drug Administration (FDA) approval for its advanced version of SS-OCT biometer ARGOS used to measure eye parameters for patients before cataract surgery.

In April 2018, Abbott initiated (ILUMIEN IV) the clinical studies for comparative evaluation of long term effects on patients who undergone stent implantation procedures guided by optical coherence tomography versus angiography. Abbott’s OCT imaging is utilized in the trials for the patients with high-risk, complex coronary artery disease.

In February 2017, Johnson & Johnson acquired Abbott Medical Optics (AMO), subsidiary of Abbott Laboratories. This acquisition includes the ophthalmic products of Abbott such as cataract surgery, laser refractive surgery and consumer eye health which will be combined with the Johnson & Johnson leading ACUVUE Brand Contact Lenses business

In 2015, Leica Microsystems announced the acquisition of Bioptigen Inc., developer of eye imaging medical device. Under the acquisition Leica planned to integrate OCT imaging of Bioptigen with its existing suite of surgical microscopes.

In December 2015, Bioptigen Inc., subsidiary of Leica Microsystems received 510(k) clearance from the U.S. Food and Drug Administration for its EnFocus intrasurgical OCT system developed for advanced solution for new and existing ophthalmic surgical microscopes in order to enhance their capability

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