The Impact Of The Pandemic On The Optical Imaging Market Is Still Being Felt In 2021

 

Optical imaging is a non-invasive technique that uses light to probe cellular and molecular function in the living body by utilising the unique properties of photons. Optical imaging is outpacing the radiology imaging market due to its numerous advantages. This optical imaging market is primarily driven by rising demand for non-invasive procedures, the dangers of radiation-based imaging, an increase in research and development activities in the life sciences sector, and the increasing use of optical imaging techniques in drug discovery and preclinical research. Furthermore, rising geriatric population, which leads to an increase in cardiovascular, neurological, and ophthalmic disorders, is fueling the growth of this market. However, factors such as stringent regulatory approval procedures, high instrument costs, a scarcity of skilled operators, and insufficient reimbursement policies for optical imaging procedures limit market growth.

 

The COVID-19 pandemic increased the need for social distancing among doctors and other healthcare professionals. Many imaging and diagnostic departments have seen a rapid decrease in optical imaging case volumes as a result of COVID-19. The decline in optical imaging cases has serious implications for the short- and long-term economic stability of all practise settings. According to a study published in the Journal of the American College of Radiology (JACR), a nearly 28 percent decrease in total imaging volume was observed over a seven-week period during this global health crisis, when compared to 2019, and this included all patient service locations and imaging modality types. The impact of the pandemic on the Optical Imaging Market is still being felt in 2021, as hospitals and imaging facilities struggle to cope with the world slowly reopening after nearly a year of isolation.

 

Rising technological innovations to drive greater market penetration is a critical factor driving market growth, as is the broadening application areas of optical imaging technologies, rising need to minimise the use of radiation technologies, rising demand to minimise the use of radiation technologies, rising affordable clinical trials, harmful effects of radiation-based imaging, rising research and development activities in the life sciences sector, and rising application areas of optical imaging technologies. Furthermore, rising expansion and market penetration growth in emerging economies, as well as increased use of optical imaging in pharmaceutical and biotechnology research, will create new opportunities for the optical imaging market during the forecasted period of 2021-2028.However, among other things, strict government policies, a lack of skilled professionals, and an expensive imaging process will stymie market growth.