Global Optical Imaging Market 2017-2021
Overview of the global optical imaging market
The global optical imaging market is anticipated to grow at a steady rate and will post a CAGR of more than 8% during the forecast period. The increasing market penetration of digital technologies in the optical imaging and medical imaging areas will drive the growth prospects for the global optical imaging market over the next four years. According to the global market research, the application of laser technology includes optical imaging, medical imaging, and microscopy. Also, to increase the process efficiency, the optics and photonics technology is integrated to develop advanced optical imaging systems. Furthermore, the radiation-free Optical Coherence Tomography (OCT) technology is used for dental diagnosis and treatment, whereas, the sound navigation and ranging (SONAR) technology are used for capturing images as a part of digital technology in the medical imaging process.
In terms of geography, the Americas accounted for the maximum market share during 2016 and will continue to dominate the market until the end of 2021. One of the major factors responsible for the increasing number of installations of optical imaging systems is the continual demand from North America that holds the largest market share in the region. Also, according to the industry research report, the adoption rate of optical imaging systems in the US clinics and operating rooms is witnessed to be very high. Moreover, the rate of adoption of these devices is high because they are cost-effectiveness and have non-invasive nature. Furthermore, the developing public-private partnerships would reduce the overall healthcare expenditure, which would boost the influx of end users and accelerate the market’s growth opportunities during the forecasted period.
Competitive landscape and key vendors
The global optical imaging market is still in its nascent stage, and the competitive environment of the market is highly intense. According to the market and research analysis, the competition in the market is expected to strengthen further due to the presence of various software and accessories provider companies. Also, these vendors compete against each other based on factors such as competitive pricing, product differentiation, technology and imaging software up gradation, online and on-site servicing, PPPs.
Key vendors in this market are -
- St. Jude Medical
- Leica Microsystems
Other prominent vendors in the market include Bruker, Canon, Edmund Optics, Electro-Optical Imaging, Headwall Photonics, Medtronic, Michelson Diagnostics, Miltenyi Biotec, NinePoint Medical, OPTICAL IMAGING, PANalytical, Raytheon, SANTEC, Specim Spectral Imaging, Spectral Instruments Imaging, Telops, and TriFoil Imaging.
Segmentation by product type and analysis of the optical imaging market
- Imaging systems
The imaging systems segment accounted for the largest market share during 2016 and will its dominance over the next few years. Some of the major factors responsible for the segment’s growth are its associated advantages such as disease diagnosis, prevention, and treatment using ultraviolet, infrared, and visible light.
Segmentation by application and analysis of the optical imaging market
The ophthalmology segment accounted for the maximum market share during 2016 and will continue to dominate the market in the forthcoming years. One of the major factors responsible for this market segment’s growth is the continuous advancements in technology that have led to the development of innovative optical imaging devices to provide effective diagnosis and treatment options.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global optical imaging market?
- What are the key market trends impacting the growth of the global optical imaging market?
- What are the challenges to market growth?
- Who are the key vendors in the global optical imaging market?
- What are the market opportunities and threats faced by the vendors in the global optical imaging market?
- What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global optical imaging market?
Technavio also offers customization on reports based on specific client requirement.