OCT dominating imaging market

The optical imaging market will reach $1.9 billion by the end of 2018 – a compound annual growth rate of 11.37 percent – with OCT making up a whopping 70 percent or more of that market, according to Optical Imaging Market (2013-2018), a recent report from Research and Markets.

Existing and emerging optical imaging technologies show huge potential for growth in clinical medicine over the next five years, the report’s authors found. They added that OCT, photoacoustic imaging, hyperspectral imaging and near-IR spectroscopy could redefine the fields of medical diagnostics and clinical research.

The major market for optical imaging technology is in the US, followed by Europe; the aging population is a major driving factor in these regions. Emerging economies such as the Asia-Pacific and Middle East will drive the market in the future, the report predicts.

The key driving force in the market for optical imaging is the wide range of application areas: These technologies enable in-depth visualization of structures in the eye, the mucosal membranes, the gastrointestinal tract, vascular systems and surface tissues. They also improve drug discovery by enabling better imaging of tissues and other biological entities at the molecular level.

Major advantages include operator safety as well as patient comfort and safety. Most of these technologies will find widespread clinical adoption, the report predicts.

Some of the remaining challenges, according to the report, include the lack of clinical data for optical methods – which limits acceptance – and reimbursement issues.

The report also analyzes each technology’s market performance in 2010 and 2011, and provides forecasts through 2018.

For more information or to obtain the report, visit www.researchandmarkets.com.