LONDON--(EON: Enhanced Online News)--According to the latest market study released by Technavio, the global optical imaging market is expected to grow at a CAGR of more than 8% during the forecast period.
“The demand for optical imaging and digital technologies is increasing in the healthcare sector, as these imaging systems help in the efficient diagnosis and faster treatment of malignant diseases such as cancer. The optical imaging finds its use in numerous medical fields such as oncology, ophthalmology, and cardiology”
This research report titled ‘Global Optical Imaging Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
“The demand for optical imaging and digital technologies is increasing in the healthcare sector, as these imaging systems help in the efficient diagnosis and faster treatment of malignant diseases such as cancer. The optical imaging finds its use in numerous medical fields such as oncology, ophthalmology, and cardiology,” says Srinivas Sashidhar, a lead analyst at Technavio for medical imaging research.
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The market research analysis categorizes the global optical imaging market into four major segments based on technique. They are:
- Optical coherence tomography (OCT)
- Hyperspectral imaging
- Near-infrared spectroscopy
- Photoacoustic tomography
Optical coherence tomography
The global OCT market is expected to grow at a rapid pace, due to the increasing adoption rate. The cost effectiveness associated with implementing and using OCT systems in various clinical applications is expected to propel the market.
Also, clinical trials on the use of OCT for the diagnosis of osteoarthritis and other musculoskeletal disorders are expected to be approved by the FDA during the forecast period. The OCT systems are used in conjunction with other diagnostic devices such as magnetic resonance imaging (MRI) to obtain high-resolution cross-sectional images of tissues or organs.
The cost effectiveness associated with implementing and using hyperspectral imaging in various clinical applications is expected to propel the market growth. These hyperspectral imaging systems are primarily used for the screening of cancer cells.
The Americas have increased installation of hyperspectral imaging systems in recent years. It is expected that APAC would be leading the hyperspectral imaging systems segment during the forecast period with the increased adoption and changes in the healthcare scenario.
The global near-infrared spectroscopy market is expected to grow at a slow pace due to the increasing preference for alternative optical imaging techniques such as OCT for diagnosis. These near-infrared spectroscopy systems are being used for neurological screening.
It is expected that APAC will lead in the installation of near-infrared spectroscopy systems with the introduction of advanced near-infrared spectroscopy during the forecast period. The emergence of the new product lines is also expected to increase the installed base in the Americas and EMEA.
“The presence of increasingly favorable reimbursement policies in the Americas is also anticipated to boost the overall growth of the global optical imaging market during the forecast period,” says Srinivas.
The cost effectiveness associated with using photoacoustic tomography technology in various research and clinical applications is expected to propel the market. This technology is widely used for cancer screening, molecular screening, gene expression, blood flow detection, and metabolic rate of oxygen.
The Americas have increased installations of photoacoustic tomography in recent years. The presence of numerous vendors increases the availability and hence adoption of these systems in the emerging markets of APAC and EMEA.
The top vendors highlighted by Technavio’s market research analysts in this report are:
- St. Jude Medical
- Leica Microsystems
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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