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Description
Optical Imaging Market is projected to reach USD 3.8 billion by 2028 from USD 1.4 billion in 2021, at a CAGR of 15% during the forecast period 2022 to 2028. 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, patient 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. For instance, in February 2016, SpectraScience Inc. acquired the assets of Oncoscope, Inc., a company developed proprietary optical imaging system which helps to detect precancerous epithelial tissue using scattered white light. Similarly in February 2015, Nikon Corporation entered into medical devices market segment by the acquisition of British retinal imaging company Optos Plc. Furthermore, Market players are also involving in developing of advanced technologies and new product launches to increase their market share.
