Optical Imaging Market Worth $1,669.2 Million by 2019 - New Research Report by MarketsandMarkets
(PRWEB) October 23, 2014 -- The report "Optical Imaging Market by Technique (Optical Coherence Tomography, Hyperspectral Imaging, Photoacoustic Tomography) by Product (Imaging System, Imaging software) by Application (Ophthalmology, Neurology, Oncology, Cardiology) - Global Forecasts to 2019", the global optical imaging market, estimated to be worth $1,669.2 million in 2019, is expected to grow at a double-digit CAGR during the forecast period of 2014–2019.
Browse market 116 data tables with 26 figures spread through 225 pages and in-depth TOC on "Optical Imaging Market"
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In this report, the optical imaging market is segmented by techniques, products, applications, geographic regions, and countries. It also discusses key market drivers, restraints, opportunities, trends and challenges, of this market and its submarkets. The market was valued at $917.1 million in 2014 and is expected to grow at a CAGR of 12.7% from 2014 to 2019.
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Owing to technological advancements and an increase in the application areas of optical imaging techniques in the pharmaceutical and biotechnological sectors and medical diagnostics & therapeutics, the optical imaging market recorded a healthy growth rate in the last decade. Optical imaging is extensively used for several applications including preclinical research, disease diagnosis, and the study of various cellular and molecular processes in vivo such as protein interactions, protein degradation, and protease activity. Thus, increasing research activities in the biopharmaceuticals segment, and the rising applications of optical imaging for therapeutic and diagnostic purposes, has had a positive impact on the growth of this market. In addition, the adoption of optical imaging, due to its noninvasive modalities, and the ability to integrate different optical imaging techniques into a single platform, is expected to drive the demand for optical imaging products in the coming years. However, the high installation cost, complex regulatory requirements, and the lack of skilled operators is likely to hinder the market growth to a certain extent.
In 2013, North America was the major leader, with nearly 43.5% share of the global market, followed by Europe, holding 31.8%. Greater uptake of optical imaging products and the presence of large number of optical imaging products manufacturers in the North American and European regions has led to their larger market shares. However, the Asia-Pacific region represents substantial growth opportunities during the forecast period of 2014 to 2019. The APAC market is expected to grow at a CAGR of around 15.1% during the forecast period, due to an increased focus on healthcare, and rise in research in the biotechnology and pharmaceutical sectors.
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Prominent players in the optical imaging market include Carl Zeiss Meditec AG (Germany), Volcano Corporation (U.S.), Bioptigen, Inc. (U.S.), Topcon Medical Systems, Inc. (U.S.), St. Jude Medical, Inc. (U.S.), Canon, Inc. (U.S.), PerkinElmer, Inc. (U.S.), Heidelberg Engineering, Inc., (U.S.), and Headwall Photonics (U.S.).
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