Optical  Imaging  Market: By Technology (Photoacoustic Imaging, Optical Coherence Tomography (OCT), Hyperspectral Imaging, Near Infrared Spectroscopy and Others), By Application (Dermatology, Ophthalmology, Dentistry, Neurology, Cardiology, Oncology and Others), By End User (Hospitals, Research Laboratories, Medical Imaging Centres and Others) and Geography  

Optical Imaging Market is projected to reach USD 3.8 billion by 2022 and is poised to grow at a CAGR of 15% from 2023 to 2029. Optical Imaging refers to the use of light as an imaging technique for medical applications. These optical techniques include optical microscopy, spectroscopy, endoscopy, scanning laser ophthalmoscopy, and optical coherence tomography. Optical imaging is an emerging technology with great potential for improving disease prevention, diagnosis and treatment. Global Optical Imaging market is expected to grow at significant rates owing to growing number of cancer cases and advantages of optical imaging techniques over the other imaging techniques such as less radiation, outpatient and physician safety. Companies operating in global optical imaging market are focusing on strengthening of their technologies and product portfolio by adapting the strategies such as mergers and acquisitions. The expense of developing imaging systems is exceedingly high. To develop new products that effectively adapt to changing market needs, manufacturers must make large investments (in terms of R&D cost). Furthermore, regulatory approval processes, such as those used by the FDA, are exceedingly strict and time-consuming, causing delays in the launch of innovative technologies.