by The global adaptive optics market has exhibited exceptional growth, with a reported market size of USD 452.5 million in 2021. According to market analysts, this growth is expected to continue at a remarkable Compound Annual Growth Rate (CAGR) of 25.3%. Adaptive Optics (AO) has emerged as a crucial technology for enhancing the performance of optical systems by eliminating errors and aberrations in light waves. This technology is increasingly in demand across various industries due to its numerous benefits, including improved accuracy, portability, and downsizing of optical instruments.
Driving Factors
- Rising Cases of Retinal Degeneration: The market is being driven by the increasing incidence of retinal degenerative diseases, such as Retinitis Pigmentosa (RP) and Age-related Macular Degeneration (AMD). AMD is estimated to affect 196.0 million individuals by the end of 2020 and is projected to impact 288.0 million by 2040. AO imaging is enhancing early-stage clinical imaging of these diseases, contributing to market growth.
- Investment in R&D: The market is benefiting from significant investments in research and development aimed at integrating adaptive optics into various applications. The technology is being extensively used in fields like ophthalmology, retinal imaging, and military and defense, driving market expansion.
- Military and Defense Applications: Adaptive optics play a crucial role in surveillance and biometric systems in the military sector. The growing demand for clear and accurate imaging in defense applications is contributing to the dominance of this sector in the market.
Market Restraints
- High Initial Costs: The high initial costs associated with adaptive optics systems, particularly deformable mirrors, have limited their widespread adoption. This cost factor is expected to restrain market growth to some extent.
Segment Overview
- Wavefront Sensors: Wavefront sensors are dominating the market due to their ability to provide direct measurements of optical wavefront phase and intensity. Technologies like the Shack-Hartmann Wavefront Sensor (SHWFS) are driving the growth of this segment.
- Military and Defense: This sector is expected to dominate the market, fueled by advancements in military weaponry, surveillance systems, and rapid technological breakthroughs.
Regional Landscape
- North America: North America accounted for the largest revenue share in 2021, driven by quick adoption of advanced technology in the biomedical industry and increased spending on military research and development.
- Europe: Europe is expected to witness significant growth during the forecast period, with a gradual adoption of adaptive optics devices in the biomedical sector.
Competitive Landscape
Key players in the adaptive optics market include Teledyne e2v (UK) LTD, Northrop Grumman Corporation (US), Thorlabs, Inc. (US), Iris AO, Inc. (US), Adaptica S.r.l. (Italy), Flexible Optical B.V. (Netherlands), Active Optical Systems, LLC (US), Boston Micromachines Corporation (US), Imagine Optic SA (France), and Phasics Corp. (France).
The global adaptive optics market is on a robust growth trajectory, driven by advancements in medical applications, increased R&D investment, and the demand for clear and accurate imaging in various industries.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/adaptive-optics-market
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This press release first seen on Brilad
COMTEX_442645502/2840/2023-10-30T06:12:51
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No journalist was involved in the writing and production of this article.