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A prominent increase in the number of retinal degenerative diseases in the people along with escalating use of adaptive optics in instruments used for viewing distant objects has provided impetus to global adaptive optics market expansion.
PORTLAND, Ore. , Sept. 15, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Adaptive Optics Market by Component (Wavefront Sensor, Wavefront Modulator, Control System), by Industry Vertical (Astronomy, Biomedical, Military & Defense, Industrial & Manufacturing, Others), by Application (Ophthalmology, Microscopy, Laser Application, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." As per the report, the global adaptive optics industry was estimated at $494.5 million in 2021, and is set to reach $4.9 billion by 2031, growing at a CAGR of 25.6% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
Surge in cases of retinal degenerative disorders and growing demand for adaptive optics in astronomical activities boost the growth of the global adaptive optics market. Moreover, increase in demand for high-resolution microscopy in various biomedical research operations aids the growth of the global market. However, huge initial costs of adaptive systems and complex design along with optimization of space optical solutions are a few factors that can hinder the growth of the global market. Nevertheless, escalating demand for photonics-based products and a rise in research and development activities in advanced optics technology are predicted to generate new growth avenues for the global market.
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The wavefront modulator segment to dominate the global market in terms of revenue in 2031
Based on the type, the wavefront sensor segment contributed to the highest market share in 2021, accounting for nearly two-fifths of the global adaptive optics market share. However, the wavefront modulator segment is predicted to contribute majorly toward an overall market share in 2031, contributing more than one-third of the global market share. Furthermore, this segment is also likely to register the highest CAGR of nearly 27.0 % during the forecast timeline. The growth of the wavefront modulator segment over the forecast period can be attributed to the wide application of wavefront modulators in optical information processing systems. The report also includes other segments such as the control system.
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The military & defense segment to hold the major market share from 2022 to 2031
On basis of the industry vertical, the military & defense segment contributed to the highest market share in 2021, accounting for more than one-third of the global adaptive optics market share. Reportedly, this segment is predicted to contribute majorly toward an overall market share in 2031. The segmental growth over the forecast timeline can be attributed to the extensive application of adaptive optics in the military & defense sector as the adaptive optics to improve the performance of laser-based weapon systems. The report also analyzes other segments such as astronomy, biomedical, industrial & manufacturing, and others segments.
The microscopy segment to dominate the global market by 2031
In terms of the application, the microscopy segment contributed to the highest market share in 2021, accounting for nearly one-third of the global adaptive optics market share. Reportedly, this segment is predicted to contribute majorly toward an overall market share in 2031. The expansion of this segment over the forecast timeline is owing to large-scale use of adaptive optics in high-resolution microscopy. The report also includes other segments such as Ophthalmology, Laser Application, and Others.
North America to retain global market domination over 2022-2031
By Region, North America contributed notably toward an overall market share in 2021, and is projected to continue its dominance during the forecast period. The region accounted for more than two-fifths of the global adaptive optics market share in 2021. The region is projected to dominate the global market even in 2031. The growth of the market in the region over the forecast timespan can be credited to the increased presence of numerous companies operating across North America . In addition, the key players operating across the industry in North America are offering advanced adaptive optics systems to be used across defense, astronomy, medical, manufacturing, and other industries. However, the Asia-Pacific region is anticipated to record the fastest CAGR of 29.0% from 2022 to 2031. The growth of the regional market over the forecast period can be attributed to the approval of adaptive optics devices in countries such as China , Japan , India , and South Korea . Furthermore, increasing acceptance of adaptive optics for retinal imaging is anticipated to fuel the adaptive optics market in this region. The report also analyzes other segments including LAMEA and Europe .
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The report analyzes these key players in the global adaptive optics market. These players have implemented key business strategies such as strategic expansion, new product launches, alliances, and joint ventures for enhancing market penetration and reinforcing their position in the industry. The report helps the target audience in determining the market performance, performance of each segment, product portfolio development in the market, and contributions made by each player to the market expansion.
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