Portland, OR, Dec. 09, 2021 (GLOBE NEWSWIRE) -- 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.
The report segments the global optical imaging market on the basis of therapeutic area, product type, end-user, and region.
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.
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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.
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 players of the global optical imaging market analyzed in the research include Canon Inc., Carl Zeiss Foundation, Abbott Laboratories, Danaher Corporation, Cylite Pty Ltd., Heildelberg Engineering GmbH, Michelson Diagnostics Ltd., Optovue, Ltd., and Topcon Corporation.
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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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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
