Optical Imaging Market Size By Product (Imaging Systems, Camera, Software, Lenses, Illuminating Systems), By Application (Pathological Imaging, Intraoperative Imaging), By Therapeutic Area (Ophthalmology, Cardiology, Oncology, Dermatology, Neurology), By Technique, By End-use – Global Forecast, 2024 – 2032

Optical imaging Market Size

Optical imaging market size was valued at over USD 1.9 billion in 2023 and is projected to grow at a CAGR of 10.2% from 2024 to 2032.
 

Optical imaging is a non-invasive technique for obtaining photographs of interior body components. Visible light and photons are employed to provide a clear image of internal organs and tissues. Images of cells and molecules obtained from bigger structures are also sought. These images are utilized by doctors to diagnose and cure diseases, as well as by researchers for a range of research projects. The increasing demand for imaging procedures in various medical applications, such as ophthalmology, cardiology, and oncology, is anticipated to drive the growth of the market.
 

Moreover, the growing prevalence of eye disorders due to the increasing geriatric population base is anticipated to augment the growing of the optical imaging market. For instance, according to the World Health Organization (WHO), approximately 2.2 billion people have a near or distance vision impairment. Modern lifestyles characterized by increased screen time, prolonged near work activities, and exposure to harmful environmental factors like pollution and UV radiation can contribute to the development of eye disorders.
 

COVID-19 Impact

The COVID-19 pandemic had a significant impact on the optical imaging market. The pandemic disrupted global supply chains, that led to shortages of medical products, including optical imaging. This caused price fluctuations and delayed delivery times, which impacted the availability of these products in some regions. There was a delay in optical imaging research and development activities because of the COVID-19 pandemic. As a result, COVID-19 hampered the expansion of the optical imaging industry.

Optical Imaging Market Trends

Advancements in optical imaging modalities have been a major driving force in the optical imaging industry. The development of enhanced optical imaging systems with better resolution, sensitivity, and specificity is continuously occurring. This includes the advancement of high-resolution microscopy methods such as super-resolution microscopy and light sheet microscopy, which allow for precise imaging of cellular structures and processes.
 

Moreover, the rising demand for non-invasive imaging is also propelling improvements in optical imaging technologies, such as the creation of novel imaging modalities, the integration of multimodal imaging techniques, and the application of artificial intelligence for improved picture processing and interpretation.
 

Optical Imaging Market Analysis

Based on product, the optical imaging market is segmented into imaging systems, camera, software, lenses, illuminating systems, and others. Imaging systems is further bifurcated into optical imaging systems, spectral imaging systems. The imaging systems segment held the largest revenue size over USD 400 million in 2022 and is estimated to witness significant evolution more than USD 1,100 million by 2032. The progress is majorly owing to increase use of imaging systems in ophthalmology, oncology, and other applications. Additionally, these systems generate real-time 2D cross-sectional, 1D depth, and 3D volumetric pictures with micron-level resolution and imaging depths therefore demand for imaging system is anticipated to increase in upcoming years.

Based on therapeutic area, the optical imaging market is bifurcated into ophthalmology, cardiology, oncology, dermatology, neurology, and others. The ophthalmology segment is anticipated to witness highest CAGR at 10.6% by 2032. Optical imaging techniques in ophthalmology are typically non-invasive, making them more patient-friendly. Therefore, optical imaging is more preferred in ophthalmology therapeutic area. Furthermore, the rising need for low-cost OCT equipment is contributing to the increased demand for ophthalmology. This technology is vital in the treatment of cataracts and other ocular illnesses.

Optical imaging market is bifurcated based on the application including pathological imaging and intraoperative imaging. The pathological imaging segment dominated the market and is anticipated to grow over USD 3 billion by 2032. The is development is majorly due to an increase in chronic diseases caused by the adoption of a sedentary lifestyle, that leads to unhealthy eating habits and a lack of physical activity, a growing elderly population, and an increase in processed food consumption. According to the National Cancer Institute, in 2019 there were an estimated 19.6 million cancer survivors in the U.S. This figure is expected to rise to 22.2 million by 2030.
The optical imaging market is segmented by technique into photoacoustic tomography, optical coherence tomography, hyperspectral imaging, and near-infrared spectroscopy. Optical coherence tomography (OCT) segment dominated the global market accounting for more than 45% market share in 2022 and is estimated to witness significant revenue over USD 2,000 million by 2032. OCT technology has witnessed significant advancements, leading to improved image quality, faster scanning speeds, and enhanced functionality. Swept-source OCT (SS-OCT) and spectral-domain OCT (SD-OCT) are among the latest innovations, offering superior imaging capabilities and greater depth penetration.

The optical imaging market is segmented by end-use into hospitals, research laboratories, and pharmaceutical & biotechnological companies. Hospitals segment dominated the global market accounting for more than 50% market share in 2022 and is estimated to witness significant revenue over USD 2,200 million by 2032. The high segment gains is attributable to the increased use of ophthalmological diagnostic imaging due to the rise in number of persons suffering from chronic illnesses and the surge in cancer screening procedures.

U.S. optical imaging market accounted for more than USD 500 million in 2022 and will grow momentously more than USD 1,350 million by 2032. U.S. market has experienced significant progression in recent years owing to rising prevalence of chronic diseases, such as cancer, cardiovascular diseases, and neurological disorders, has driven the demand for advanced imaging technologies like optical imaging in the U.S. The aging population in the U.S. has significantly increased the demand for healthcare services and diagnostic tools. Optical imaging techniques, such as optical coherence tomography angiography (OCTA), are extensively used in ophthalmology to detect age-related eye diseases like age-related macular degeneration (AMD) and diabetic retinopathy.
 

Optical Imaging Market Share

Some of the notable key industry players operating in the optical imaging industry include

• Koninklijke Philips
• Canon, Inc
• Carl Zeiss Meditec AG
• PerkinElmer, Inc
• St. Jude Medical Inc.
• Topcon Corporation
• Abbott Laboratories
• Olympus Corporation
• Heidelberg
• Engineering GmbH
• Kibero
• Leica Microsystems
• Headwall Photonics, Inc

Optical Imaging Industry News:

• In January 2023, Canon Medical Systems USA Inc. announced partnership with Sclmage, Inc. The company offers cloud-native enterprise image management, image and PACS exchange solutions for the healthcare business. Such partnerships will help market players to strengthen its product portfolio and market position.
   
• In July 2021, Topcon Corporation acquired VISIA Imaging S.r.l. The company is one of the growing ophthalmic device manufacturers. This has helped the company to enhance its product portfolio and expand its market presence.
   

Optical imaging market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:

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By Product (USD Million)

• Imaging systems
• Optical imaging systems
• Spectral imaging systems

• Camera
• Software
• Lenses
• Illuminating systems
• Others

By Application (USD Million)

• Pathological imaging
• Intraoperative imaging

By Therapeutic Area (USD Million)

• Ophthalmology
• Cardiology
• Oncology
• Dermatology
• Neurology
• Others

By Technique (USD Million)

• Optical coherence tomography
• Near-infrared spectroscopy
• Hyperspectral imaging
• Photoacoustic tomography

By End-use (USD Million)

• Hospitals
• Research laboratories
• Pharmaceutical and biotechnological companies

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Poland
  • Switzerland
  • Norway
  • Finland
  • Sweden
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Indonesia
  • Taiwan
  • Vietnam
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Israel