Optical Imaging Systems Market Growth & Trends
The global optical imaging systems market size is expected to reach USD 4.65 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 11.2% from 2022 to 2030. Technological advancements and a rise in the prevalence of ophthalmic disorders are anticipated to boost the growth of the market. Increasing adoption of optical imaging systems in preclinical and clinical studies in the biopharmaceutical and pharmaceutical sector for diagnostic and therapeutic purposes is further projected to drive the market in the years to come.
The market observed a subsequent fall in overall sales during the first half of the pandemic. Various restrictions and guidelines imposed by the government that limited the use of optical imaging systems for diagnosis and treatment purposes affected the market growth negatively. However, with the economies opening up, the introduction of vaccines, and the increasing usage of optical imaging systems across different applications, the market is expected to witness stable growth and earn substantial profits during the forecast period.
The market growth was negatively affected during the pandemic due to a change in healthcare priorities, wherein the healthcare workers focused on the treatment of Covid-19 infected patients. The imposition of restrictions and lockdowns across the globe led to a halt in research and development activities at the start of the pandemic to avoid the spread of the virus. However, with the introduction of vaccines and economies returning to normalcy, the market has begun to recover and is expected to grow at an exponential rate, leading to significant growth during the forecast period.
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Optical Imaging Systems Market Report
Optical Imaging Systems Market Report Highlights
- In terms of technology, the optical coherence tomography segment dominated the market in 2021 owing to the increasing adoption of the technology in the diagnostic field for intravascular imaging
- By product, the imaging systems segment dominated the market in 2021 owing to its wide application in ophthalmology. Moreover, the rising adoption of this system in clinical research and medical diagnostic has led to the growth of this segment
- On the basis of application, the pathological segment held the largest revenue share in 2021. This is due to the rise in the prevalence of chronic diseases owing to a surge in the adoption of a sedentary lifestyle
- Based on end use, the research labs segment dominated the market in 2021 owing to the increasing usage of optical imaging systems in the R&D sector
- On the basis of therapeutic area, the oncology segment dominated the market in 2021 owing to an increase in the adoption of optical imaging systems in cancer research and for early detection of the disease
- North America accounted for the largest revenue share in 2021 due to the availability of skilled professionals, increasing focus of the government on R&D activities, and faster adoption of technologically advanced products in this region
