Advanced Optical Imaging for Neurology Market Size (2024 – 2030)

The Global Advanced Optical Imaging for Neurology Market is valued at USD 314.65 million in 2023 and is projected to reach a market size of USD 556.98 million by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 8.5%.

The market for advanced optical imaging in the neurology field was relatively small in the past and was confined to very few clinics. However, currently, the market has seen substantial growth owing to emerging technologies and the advancement of various features including resolution, sensors, clarity, and penetration. In the future, with the integration of artificial intelligence, miniaturization, in-depth analysis, and research activities, this market will show significant development. During the forecast period, this market is set to experience a notable growth.

Key Market Insights:

Optical imaging systems in China are predicted to expand at a CAGR of 14.2% from 2022 to 2030.

The National Institute of Health (NIH) Brain Research through Advancing Innovative Neurotechnologies® (BRAIN) Initiative awarded a total of $9.7 million in new grants to Cold Spring Harbor Laboratory (CSHL) to develop new artificial intelligence tools to analyze a broad range of brain datasets and types.

Early diagnosis of neurogenerative diseases has increased by 15% to 20% owing to the advancements in biomarkers and neurological imaging techniques.

A 2020 Lancet paper cited neurological diseases as the second leading cause of death globally, accounting for 9 million deaths a year. This affected the healthcare industry and compromised public health. To tackle this, remedies for early detection, prevention, and betterment of imaging systems are being undertaken.

Advanced Optical Imaging for Neurology Market Drivers:

The increasing prevalence of neurological disorders has been helping with the market progress.

During the last decade, there has been a significant change in the lifestyle of people. Stress, hectic schedules, changing genetics, and other environmental factors have contributed as well. This has led to an increase in the number of patients who have diseases/disorders which include Parkinsons', Alzheimer's, stroke, and other brain-related injuries. With the growing population, the need to provide effective solutions is rising. Therefore, the need to monitor, diagnose, prevent, and treat these diseases becomes pivotal. Advanced optical imaging plays a crucial role in analyzing these symptoms at an early stage.

Advancements in optical technology are fueling the expansion.

There have been rapid advancements and new technologies in the market. Super-resolution microscopy, optogenetics, and advanced tissue-clearing methods are the notable ones. Features including resolution, sensitivity, accuracy, and imaging angles have been improved providing better solutions. Along with this computer science has played a vital role by integrating data analytics, AI, and ML. This has made them user-friendly.

The rise in research and developmental activities for early diagnosis is aiding the flourishment.

A lot of youngsters are choosing to pursue pure science and research. Neurological diseases are amongst the top research areas. There have been many institutions and universities offering opportunities to work under renowned prodigies and broaden human understanding. Besides, the availability of better tools and software has helped scientists to have breakthroughs in the field. Advanced optical imaging techniques can detect the disease at an early stage avoiding clinical manifestations. This reduces the cost for the patient and affords the treatment. To improve the valuable tools for diagnosis and intervention, research has become extremely beneficial. In the coming years, major milestones are expected due to the existing data.

Advanced Optical Imaging for Neurology Market Restraints and Challenges:

Skilled force, high costs, and data complexity are the main hurdles that the market faces.

Advanced optical imaging frequently calls for experts who are experienced and qualified. Accessibility to these qualified specialists might be challenging. Additionally, training is difficult and might slow growth. Second, the price of the equipment itself may be extremely costly. They also require appropriate care and upkeep. Because of this, the operating costs are high, and patients may have trouble paying the charge. Thirdly, the data analysis and interpretation need sophisticated computing techniques and are challenging. There may be barriers for researchers in this area.  

Advanced Optical Imaging for Neurology Market Opportunities:

Understanding the anatomy of the brain and the neurons is made possible through optical imaging. Offering comprehensive information on the medication targets and interactions can help with the creation of personalized medicine. Optogenetics and photobiomodulation are two optical approaches with therapeutic promise. This can be used to treat a variety of neurological conditions. Furthermore, emerging economies and rising initiatives as well as funds from the Government are providing the market to strengthen their research base.

ADVANCED OPTICAL IMAGING FOR NEUROLOGY MARKET REPORT COVERAGE:

Advanced Optical Imaging for Neurology Market Segmentation: By Product Type

• Imaging Systems

• Illumination Systems

• Camera

• Software

• Lenses

Based on product type, imaging systems were amongst the largest and fastest growing in the market. This is because of the clear visualization of the brain structure in 2D and 3D versions. They can capture a wide range of angles and scales. Moreover, it is non-invasive in nature offering minimal risk. Additionally, optical imaging techniques greatly limit the amount of hazardous radiation that patients are exposed to. Furthermore, other elements like important players are concentrating on creating cutting-edge portable technologies that are simpler to use and may be applied in different clinical situations. They are estimated to hold a share of around 35% in this market.

Advanced Optical Imaging for Neurology Market Segmentation: By Technique

• coherence tomography

• Near-infrared spectroscopy

• Hyperspectral imaging

• Photoacoustic tomography

• Super-resolution microscopy

• Optical Coherence Tomography

Based on technique, optical coherence tomography is the largest shareholding segment in the market. This is due to technological advancements, rising adoption, delivery of real-time images, high-resolution imaging, minimal risk factors, disease detection, and other clinical applications. It is estimated to hold a share of around 60%. Photoacoustic tomography is considered to be one of the fastest-growing segments. This is because of its advantages like non-invasiveness, resolution, functional imaging, and its extended application in various research fields.

Advanced Optical Imaging for Neurology Market Segmentation: By Application

• Pathological imaging

• Intra-operative imaging

Based on application, pathological imaging was the largest and fastest growing in the market. Factors like lifestyle changes, increase in chronic illness, rise in elderly people, consumption habits, stress, work life, genetics, and other environmental factors are contributing to the upsurge of this category. It is expected to hold a share of around 70%.

Advanced Optical Imaging for Neurology Market Segmentation: By End User

• Hospitals & Clinics

• Research Laboratories

• Pharmaceuticals & Biotechnology Companies

Based on end users, the hospitals & clinics segment is the largest segment in this market holding a share exceeding 50%. This is owing to the increase in the number of patients leading to the installation of more equipment. Additionally, factors like improvement in health infrastructure, presence of licensed professionals, and adoption of these facilities are aiding the market growth. Research laboratories are the fastest growing due to piqued curiosity, availability of data, immense potential, and discovery of potential applications, increasing lab centers, Government initiatives, and the need to widen human knowledge.

Advanced Optical Imaging for Neurology Market Segmentation: Regional Analysis

• North America

• Asia-Pacific

• Europe

• South America

• Middle East and Africa

Based on region, North America is the largest segment holding an approximate share of 31%. The success of this region is due to funding, research opportunities and facilities, technological advancements, economic strength, and the presence of key players. Asia Pacific is the fastest-growing region owing to extensive research activities, rapid economic development, increasing adoption, Government involvement, emerging companies, rising incomes, changing lifestyles, and greater demand. This region holds a total share of around 21%.

COVID-19 Impact Analysis on the Global Advanced Optical Imaging for Neurology Market:

The outbreak of the virus led to social distancing which was the new norm. This caused a rapid decrease in the optical imaging case volumes. Priority was shifted towards having a healthy immune system and avoiding the common cold. Lockdowns slowed down the research activities and led to the closure of the institutions. Moreover, an economic downfall was observed due to restraints in import-export trade and other supply chain disruptions. As per a report, in contrast to 2019, a study that was recently published in the Journal of the American College of Radiology (JACR) found that over the course of seven weeks during this global health crisis, there was a nearly 28 percent decrease in the total volume of imaging across all patient service locations and imaging modality types. However, with the relaxation of guidelines and the upliftment of restrictions, the market is steadily picking up by engaging in collaborations as well as raising investments.

Latest Trends/ Developments:

Companies in this industry are driven to increase their market share using a variety of tactics, including alliances, investments, and acquisitions. Along with maintaining competitive pricing, businesses are paying much to advance the existing technology and improve the existing functionalities. This has also led to greater enlargement.

One major trend in this field is the increasing focus through R&D activities on neurological biomarkers. A biomarker helps in the detection of the activities that take place in human cells. This will help biomedical professionals to find an effective cure for various neurological disorders. Along with this 3D imaging is a new area being explored to advance mankind.

Key Players:

1. Carl Zeiss Meditec AG

2. Olympus Corporation

3. Bruker Corporation

4. Nikon Corporation

5. Thorlabs, Inc.

6. Hitachi, Ltd.

7. Heidelberg Engineering

8. Shimadzu Corporation

9. Hamamatsu Photonics K.K.

10. LaVision BioTec GmbH

In May 2023, scientists from around the world came to the Wu Tsai Neurosciences Institute to learn more about cutting-edge optical imaging technologies at the inaugural Advanced Techniques in Neuroimaging Workshop. The workshop, aimed to disseminate the latest neuroimaging techniques and foster cross-disciplinary collaboration.

In December 2021, IDRM joined the Kennedy Institute for Rheumatology to announce the launch of the Oxford-Zeiss Centre of Excellence, a state-of-the-art imaging facility to lead future discoveries in global health and disease. Oxford-ZCoE enabled researchers at the University of Oxford and beyond to gain access to advanced state-of-the-art optical imaging equipment.