Optical Imaging System Market to Grow at USD 3.0 Billion by 2024
Posted by carol miller on January 29th, 2020
The global optical imaging system market is expected to reach USD 3.0 billion by 2024, according to a new report by Grand View Research, Inc. Technological advancements and rising preference for noninvasive technology are anticipated to be the preliminary market catalyst.
Rising R&D efforts by pharmaceutical and biotechnological companies requiring the use of optical imaging systems are encouraging the market growth. Additionally, veterinary hospitals and educational institutions are utilizing this technology in research and diagnostics, due to its noninvasive nature.
North America and Europe together accounted for the largest market share that was over 60.0% in 2015. Well-developed research infrastructure, availability of skilled professionals, and faster adoption rates of technically advanced devices within the region are certain factors promoting growth. Furthermore, supportive government initiatives in this region are propelling the growth in this sector. The government of Canada invested around USD 750,000 in the Canadian Imaging Research Center to promote research and commercialization opportunities in the imaging sector.
Asia Pacific is expected to witness the fastest growth rate during the forecast period owing to the easy availability of resources. Favorable environment is encouraging research activities as government funding for R&D is increasing in emerging nations, such as India and China. For instance, Impacting Research Innovation and Technology (IMPRINT), an initiative by the Indian government, promotes R&D in imaging and other technology sectors. This is expected to attract market players to this region, thereby facilitating higher penetration and expansion.
Further Key Findings from the Study Suggest:
Access full research report on global optical imaging system market: www.grandviewresearch.com/industry-analysis/optical-imaging-system-market-analysis
Like it? Share it!
About the Authorcarol miller
Joined: January 15th, 2020
Articles Posted: 24
More by this author