Optical Imaging System Market Size, Share, Growth and Trend Analysis Report
by Susan Hill Business ConsultantThe global optical imaging system market is expected to reach USD
3.0 billion by 2024, according to a new report by Grand View Research, Inc.
Technological advancements and rising preference for noninvasive technology are
anticipated to be the preliminary market catalyst.
Rising R&D efforts by pharmaceutical and
biotechnological companies requiring the use of optical imaging systems are
encouraging the market growth. Additionally, veterinary hospitals and
educational institutions are utilizing this technology in research and
diagnostics, due to its noninvasive nature.
North America and Europe together accounted for the
largest market share that was over 60.0% in 2015. Well-developed research
infrastructure, availability of skilled professionals, and faster adoption
rates of technically advanced devices within the region are certain factors
promoting growth. Furthermore, supportive government initiatives in this region
are propelling the growth in this sector. The government of Canada invested
around USD 750,000 in the Canadian Imaging Research Center to promote research
and commercialization opportunities in the imaging sector.
Asia Pacific is expected to witness the fastest
growth rate during the forecast period owing to the easy availability of
resources. Favorable environment is encouraging research activities as
government funding for R&D is increasing in emerging nations, such as India
and China. For instance, Impacting Research Innovation and Technology
(IMPRINT), an initiative by the Indian government, promotes R&D in imaging
and other technology sectors. This is expected to attract market players to
this region, thereby facilitating higher penetration and expansion.
Further
Key Findings from the Study Suggest:
- The optical
coherence tomography segment is the largest segment over the forecast
period. The largest share was attributed to the extensive application in
small animal imaging and research projects.
- North America captured the largest market share of around 35.0% in
2015. The market is expected to maintain its dominance during the forecast
period. Technologically advanced research infrastructure and increasing
use in medical testing for chronic conditions are some of the factors
supporting the growth in this region.
- Asia Pacific is anticipated to witness a significant growth rate
from 2016 to 2024 owing to the government initiatives in this region. For
instance, the Asia-Pacific Optical Sensors Conference held every year by
the Optical Society helps showcase new products to consumer, thereby
increasing awareness regarding the market and its developments.
- Some key players are PerkinElmer, Inc., St. Jude Medical, Inc., Carl
Zeiss Meditec AG, Topcon Corporation, and Koninklijke Philips N.V.
- In order to curb the competition, key industry players are
meticulously involved in the development of new systems that facilitate
easy diagnosis. For instance, the Dragonfly Catheter series by St. Jude
Medical, Inc. provides data sampling of around 100 MB per second.
Access
full research report on global optical imaging system market:
www.grandviewresearch.com/industry-analysis/optical-imaging-system-market-analysis
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Created on Jan 28th 2020 23:49. Viewed 245 times.