According to the report published by Allied Market Research, the global Optical Imaging Market generated $1,386.8 million in 2020, and is projected to reach $3,865.7 million by 2030 registering a CAGR of 10.8% from 2021 to 2030. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players.
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Surge in the prevalence of eye disorders, increase in government initiatives to constrain visual impairment, and rise in the geriatric population fuel the global optical imaging market growth. On the other hand, limited access to optical imaging in underdeveloped countries hampers the market. On the contrary, high growth potential of emerging markets creates lucrative opportunities.
COVID-19 scenario:
- The COVID-19 pandemic hampered access to optical imaging in underdeveloped countries and caused a decline in demand for optical imaging products.
- The pandemic put hospitals & imaging facilities under pressure due to interrupted supply chains. Most of the resources were dedicated to treating COVID-19 patients.
- Due to the pandemic, nonessential imaging procedures were postponed in almost all countries which impacted the global optical imaging market negatively.
Key players of the global optical imaging market analyzed in the research includes, Canon Inc., Carl Zeiss Foundation, Abbott Laboratories, Danaher Corporation, Cylite Pty Ltd., Heildelberg Engineering GmbH, Michelson Diagnostics Ltd., Optovue, Ltd., and Topcon Corporation.
The report segments the global optical imaging market on the basis of therapeutic area, product type, end-user, and region.
Based on the therapeutic area, the ophthalmology segment contributed to the highest market share in 2020, attributing to more than one-third of the total market share, and is anticipated to dominate the market during the forecast period. The segment is expected to manifest the fastest CAGR of 11.2% from 2021 to 2030. The report also covers segments such as oncology, cardiology, and neurology.
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Based on product, the imaging systems segment accounted for the largest market share in 2020, contributing to more than one-third of the total share, and is expected to maintain the lead throughout the forecast period. The segment is estimated to witness the fastest CAGR of 11.6% from 2021 to 2030. The report also covers segments such as illumination systems, cameras, software, and lenses.
Based on region, North America contributed to the highest share in 2020, holding nearly two-fifths of the total share, and is expected to maintain dominance during the forecast period. The global optical imaging market across the Asia-Pacific is anticipated to exhibit the fastest CAGR of 12.4% during the forecast period.
Key Findings Of The Study
- By product type, the imaging systems segment accounted for a share of 35.79% in the optical imaging market in 2020.
- Region wise, Asia-Pacific is anticipated to grow at the highest CAGR of 12.4% throughout the forecast period.
- In Europe, Germany accounted for 19.83% of the optical imaging market, in 2020.
- Depending on therapeutic area, the ophthalmology segment accounted for a share of 35.67% in the global optical imaging market in 2020.
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Q9. What is optical imaging?
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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