Optical devices for medical imaging (global market)

Main articles:

• Medical equipment (global market)
• Medical Imaging Machines (Global Market)

2016: Market growth forecast to $2.19 billion by 2020

In September 2016, the analytical company Transparency Market Research announced some results of a study of the global market for optical medical imaging systems. Sales of these solutions predicted double growth.

According to Transparency Market Research forecasts, by the end of 2020, the costs of healthcare institutions for the purchase of optical imaging systems will amount to $2.19 billion against $1.06 billion in 2013, and the average annual growth rate from 2014 to 2020 will be measured at about 10.8%.

Optical medical imaging market predicted twofold growth

The largest dynamics, according to researchers, will be demonstrated by the segment of systems for the diagnosis and treatment of cancer: here an average increase in sales of 15.1% between 2014 and 2020 is predicted.

The study says the market for optical medical imaging equipment will grow amid the continued spread of skin, tooth, eye and other organ diseases. Diseases of civilization, such as hypertension and diabetes mellitus, are becoming an increasing problem, which is also fueling the demand for optical devices used to process medical images.

Another factor contributing to the growth of the market in question, analysts cite an increase in the number of people of age who show more dental and dermatologic abnormalities.

The following companies are considered the leading manufacturers of optical medical imaging systems at Transparency Market Research:

• St. Jude Medical;
• Carl Zeiss;
• Michelson Diagnostics;
• Topcon Medical Systems;
• Bioptigen;
• Heidelberg Engineering.

The largest market for such equipment in 2013 was North America, which accounted for more than 46% of sales.^[1]

2015: Grand View Research Data

In July 2016, analysts at Grand View Research announced brief results of a study of the global market for optical medical imaging systems. North America is the largest sales region for this hardware and software.

According to experts, in 2015, sales of optical imaging systems used for health care amounted to $1.1 billion. About 35% of this volume came from the North American market, which was facilitated by a well-developed research infrastructure, the availability of qualified specialists and a high rate of implementation of technically advanced devices. In addition, numerous government initiatives in this area are affecting.

"'North American Optical Imaging Market Forecast for 2013-2024

Data from Grand View Research, 2016

At the same time, the Asia-Pacific region will show the highest growth in sales of optical imaging solutions (on average by 13% annually between 2016 and 2024) due to such factors as low research costs, weak regulatory principles and increased government support. In 2014, the Chinese government invested $112 billion in research and development in the health sector.

The following companies are named by analysts as the largest manufacturers of optical medical imaging systems:

• St. Jude Medical;
• PerkinElmer;
• Philips;
• Carl Zeiss Meditec;
• Topcon Corporation;
• Bioptigen;
• Canon;
• Heidelberg Engineering;
• Optovue;
• Headwall Photonics.

The study notes that increasing competition from medium and small market participants affects the shares of leaders. In order to maintain their position, the latter are constantly developing new technologies and are striving to launch truly innovative products.

Depending on technologies, the market for optical imaging is divided into hyperspectral systems, solutions for optical coherent tomography, near-infrared spectroscopy and photoacoustic tomography. The largest share (about 60% in 2015) was occupied by the coherent tomography segment. It is also expected to be the fastest growing due to the introduction of technology for intravascular diagnostic imaging.^[2]

2013: Transparency Market Research Data

According to Transparency Market Research estimates, in 2013, agency spending health care on the purchase of optical imaging systems reached $1.06 billion.

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