Optical Imaging Technology Market to Hit $1.6692 Billion by 2019 - New Research Report by MarketsandMarkets
(PRWEB) December 07, 2014 -- The global healthcare industry is witnessing a shift in paradigm and is now skewed towards non-invasive diagnostics and therapeutic procedures, that not only cure serious illnesses, but also have less side effects. Optical imaging is such technology with a potential to revolutionize clinical diagnostics and drug discovery in healthcare. The technology uses light to assess optical properties of tissues, and has a great potential in the diagnosis and treatment of chronic diseases.
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Though optical imaging is still in the early aspect of development, it offers many important advantages over existing radiological imaging techniques. Optical imaging procedures are non-invasive, use no ionizing radiation and offer significant cost savings over the conventional radiological technologies. These technologies have an inherent capacity for improving diagnostic resolution. A key driving force of Optical imaging techniques is the technology application scope for easy access to visualize and image in-depth structures of eye, surface tissues, mucosa l membranes, the gastrointestinal tract, and vascular systems facilitating better diagnostic procedures in clinical medicine. It also enhances the drug discovery process by enabling better imaging of tissues and other biological entities at the molecular level in biomedical research. The other advantages of using optical imaging include the technologies are operator and patient safety. In the future, most of these technologies will gain widespread clinical acceptance and find specific roles in the clinical medicine.
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Scope of the Market
Currently, the market of optical imaging is dominated by OCT with over 70% of the market share and is expected to witness 4% CAGR growth by the end of 2018. OCT is widely accepted for clinical diagnostics in ophthalmology, dentistry, cardiology, dermatology and also has broadened its application in cancer detection recently. Carl Zeiss and St. Jude Medical are the pioneers of this technology and almost every set up comes with OCT technology. HSI, NIRS and PAT are the emerging technologies in optical imaging market with a few players in the market. HSI and NIRS are currently used for biomedical research and drug discovery in the areas of dermatology and neurology. These technologies are expected to grow exponentially, with a few units now readily available in the market. Another emerging technology which recently made its entry into market for cancer detection is the photo acoustic tomography (PAT). Recent advances in PAT have made it possible to enhance its ability in recovering both optical and acoustic properties that adds to its potential to better differentiate benign from malignant lesions.
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The technology report identifies the potential market drivers and restraints for analysing the future technology trends, opportunities and overcoming the challenges. The market segmentation, sizing and forecasts were made only for the OCT technology and revenues are forecasted on the basis of major regions such as North America and Europe Union. Further, the market is sub-segmented based on OCT applications in clinical diagnostics - ophthalmology, dentistry, dermatology, cardiology, neurology and oncology, clinical research- biomedical research, drug discovery and therapeutic delivery, and life sciences- small animal imaging and revenues were forecasted for the same.
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