Hyderabad, India (PressExposure) September 03, 2014 -- The scope of the market of Optical Imaging is steadily increasing, and in a current research conducted, it has been predicted to reach a startling amount of $2.1bn in 2018. The current market for Optical Imaging is a considerable amount, coming to around $1.2bn in 2013, and it is said that the growth in technologies in this area is one of the primary reasons for the market's growth.
At present, OCT dominates the optical imaging technology market and it is widely accepted for the clinical diagnostics uses in ophthalmology, dentistry, cardiology, dermatology, and other segments, and it also has a very promising future in cancer detection. Other technologies, like HSI and NIRS are currently on the rise for the development of biomedical research. These technologies continue to improve exponentially, with a few units currently available to the market. However, another emerging technology that has made its presence felt is PAT for oncology. Cancer has always been one of the greatest concerns for mankind, and this technology is set to help with cancer research and treatment in a significant manner.
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At present, the market of optical imaging is dominated by the OCT technology and it dominates a major share for its applications across medical segment e.g. ophthalmology, dentistry and cardiology, contributing over 65% of the market growth of the total optical imaging market. Carl Zeiss and St. Jude Medical are the two pioneers of this field of technology and it has been noted that the use of OCT technology is increasing at a rapid and steady pace. HSI, NIRS and PAT are the emerging technologies in the optical imaging market, and their demand looks strong.
The growth of the private healthcare segment and the introduction of new and advanced technologies in the field of imaging, together with the demand for non-invasive procedures will further boost the market growth in the future. IndustryARC has classified optical Imaging technologies into several segments. Optical Coherence Tomography (OCT), Photo-Acoustic Tomography (PAT), Hyperspectral Imaging (HSI) and Near-Infrared Spectroscopy (NIRS) are the ones which are expected to drive the global optical imaging market in the next five years.
According to IndustryARC, the global optical imaging market will witness a high intensity in competition in the near future, as there are many large, as well as small firms with similar products in their profile. This will further drive the market positively, as the demand for new and more improved products for a competitive rate grows. The key players that are important in this field are 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., and these companies are carefully profiled through interviews of key individuals and a significant amount of data collection to analyze their growth potential.
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