Optical imaging is a fiber optic and photonics based non-invasive technique that enables accurate viewing of organs, tissues and even molecules. The global optical imaging technology market comprises Photo-Acoustic Tomography (PAT), Optical Coherence Tomography (OCT), Near-Infrared Spectroscopy (NIRS), and Hyper-Spectral Imaging (HSI). This technology finds primary application in clinical research and pathology for disease diagnosis and treatment. Optical imaging market was valued $915.75 million in 2012 and is expected to grow at a CAGR of 12.2% during 2013-2020. In comparison to conventional radiological technologies, optical imaging has led to significant reduction in exposure to harmful rays. As the technique involves a non-invasive and no ionization process of imaging, it offers higher safety and allows repeated imaging to track the progression of disease or effectiveness of the treatment. Growing healthcare concern throughout the globe is a largely impacting driver of the market.
However, high investment and installation costs and reimbursement issues are expected to restrict the growth of this market. Despite of these restraints, companies are still enthusiastic to enter this market owing to the increasing demand for the optical imaging technologies and significant growth opportunities. North America is dominating the market at present, followed by Europe. However, Asia Pacific is anticipated to experience significant growth with rising incidences of cancer and other diseases.
Key players in the market include Volcano Corporation, Michelson Diagnostics, Carl Zeiss Meditec, Headwall Photonics, Chemlmage Corporation, Somanetics Corporation, Bioptigen Inc., ASE Optics Inc., and Topcon Medical Systems Inc.
KEY MARKET SEGMENTS
GLOBAL MARKET, BY TECHNOLOGY
GLOBAL MARKET, BY APPLICATIONS
GLOBAL MARKET, BY GEOGRAPHY