The global optical imaging market is projected to reach USD 2.9 billion by 2027 from USD 1.5 billion in 2022, at a CAGR of 13.5%. Precise differentiation between soft tissues and affected tissues, reduced patient exposure to eradicating radiations, increased prevalence of age related macular degeneration, increased GDP expenditure on healthcare among rapidly growing economies, increased need and adoption of non invasive tools for rapid scanning and identification of disorders coupled with increasing research to adopt these tools in the field of dentistry, gastroenterology, and gynecology are factors influencing the market growth and adoption of optical imaging systems. However, high costs of instruments, stringent regulatory approval procedures, a dearth of skilled operators, and insufficient reimbursements for optical imaging procedures are factors posing several challenges to the overall growth of the market during the forecast period.
The prominent companies of global optical imaging market are Carl Zeiss Meditec (Germany), Abbott (US), Topcon Corporation (Japan), Canon (Japan), PerkinElmer (US), Koninklijke Philips (Netherlands), Heidelberg Engineering (US), Leica Microsystems (Germany), Headwall Photonics (US), Visionix (US), Optical Imaging (Israel), Optos (Scotland), Wasatch Photonics (US), ArcScan (US), DermaLumics (Spain), Cylite (Australia), MOPTIM (Guangdong), Michelson Diagnostics (England), Thorlabs (US), Hamamatsu Photonics (Japan), iTheraMedical (Germany), Kibero (Germany), Seno Medical (US), Aspectus Imaging (Germany), and Agfa-Gevaert (Belgium). These companies adopted strategies such as product launches, partnerships, acquisitions, and expansions to strengthen their presence in the optical imaging market.
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CARL ZEISS MEDITEC AG
Carl Zeiss Meditec AG (Germany) held the leading position in the global optical imaging market with a share of ~24.3% in 2021. The company has a diversified product portfolio of optical imaging systems, majorly (OCT systems) for ophthalmic applications, which include a wide range of clinical tools for the diagnosis and treatment of eye diseases. The company was the first player to introduce time-domain OCT-based products for retinal, anterior segment/cornea, and optic nerve imaging. Its leading position in the optical imaging market can be attributed to its innovations in OCT systems. Over the years, the company has developed innovative products for various medical applications. Furthermore, in order to strengthen its market position, the company focuses on increasing its R&D spending in optical technology to develop image analysis algorithms and to upgrade its software for objective measurement and subjective clinical evaluation of retinal disease detection. The company has a strong manufacturing and distribution footprint across the globe, which enables it to serve customers in the Americas, Africa, Europe, the Middle East, and the Asia Pacific.
Topcon Medical Systems, Inc. was the second-largest player in the global optical imaging market, accounting for a market share of ~21.1% in 2021. The company has maintained its leadership position in the market through its strong distribution networks across North America, Europe, and the Asia Pacific (especially Japan and China). It focuses on acquisitions and partnerships as its key business strategies to ensure growth in the global optical imaging market. For instance, in April 2018, Topcon acquired KIDE (Finland); this acquisition helped Topcon to introduce a data management system for centrally managing eye image files and examination data for each patient.
Optical Imaging Market by Product (Cameras, Lenses), Technique (OCT, HIS, NIR, PAT), Therapeutic Area (Ophthalmology, Dermatology, Oncology), Application (Pathological, Intraoperative), End User (Hospital, Research Labs) - Global Forecast to 2027
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