Optical imaging market predicted to reach $1.9 billion by 2018

Advancements and breakthroughs in the field of fiber optics and photonics have led to the emergence of a number of technologies in the optical imaging market, and a result, global sales in the market are expected to grow from $915.75 million in 2012 to $1.9 billion by 2018.

Content Dam Vsd Online Articles 2013 08 Optical Imaging

Global sales in theoptical imaging market are expected to grow from $915.75 million in 2012 to $1.9 billion by 2018 at an estimated compound annual growth rate (CAGR) of 11.37%, according to an analysis from MarketsandMarkets.

The report says that advancements and breakthroughs in the field of fiber optics and photonics have resulted in the emergence of a number of technologies in the optical imaging market. These technologies include optical coherence tomography (OCT), photo-acoustic tomography (PAT), hyperspectral imaging, andnear-infrared spectroscopy (NIRS). Fields in which these technologies are used include ophthalmology, cardiology, gastroenterology, oncology, gynecology, urology, internal medicine, dentistry and enhanced tissue penetration and for in-vivo imaging.

OCT currently has more than 70% of the total market share, with an expected 4% CAGR by the end of 2018. OCT procedures are performed inclinical diagnostics in in ophthalmology, dentistry, cardiology, dermatology, and may also be used in the future for cancer detection.

With technologies and applications for optical imaging growing, the expectation is that market growth will coincide. In addition, optical-based medical screening comes with benefits like operator safety, patient comfort, and patient safety; and as such, the technologies may see eventual widespread clinical acceptance, according to the report.

Companies that are expected to drive growth that are identified as key players in the report include Michelson Diagnostics, Heidelberg Engineering GmBH, Carl Zeiss Meditec, Volcano Corporation, Topcon Medical Systems Inc., St. Jude Medical Inc., Headwall Photonics, Cytoviva Inc., ChemImage Corporation, Bioptigen Inc., Raytheon ELCAN Optical Technologies, Somanetics Corporation, and ASE Optics Inc.

Read more or purchase theoptical imaging market analysis from MarketsandMarkets.

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