Near Infrared Imaging Market Study Report Based on Size, Shares, Opportunities, Industry Trends and Forecast to 2030
The global near infrared imaging market size reached USD 950.1 Million in 2021, and is expected to register a CAGR of 10.1% during the forecast period, according to latest analysis by Emergen Research. Near infrared imaging is a diagnostic tool used for tissue imaging as it is minimally invasive and non-ionizing. It mainly uses near-infrared radiations within a range of 780 nm to 2500 nm. This technique is used to check the concentration and oxygenation of hemoglobin in the brain, muscles, and other tissues. It provides better imaging clarity than conventional methods. This technique is also widely used in applications, such as cardiovascular surgeries, cancer surgeries, plastic surgeries, and preclinical imaging.
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Health concerns among geriatric population has been high, which will subsequently result in increasing use of near infrared imaging solutions. Additionally, increasing health awareness regarding the benefits of surgical treatments in several medical conditions at early or required stages is driving adoption of near infrared imaging solutions. Healthcare institutions and diagnostic centers prefer adopting technologically advanced imaging tools with improved and automated features. These factors are expected to create lucrative growth opportunities for manufacturers in the market during the forecast period.
Leading Players Analyzed in the Report are:
- Olympus Corporation
- Stryker Corporation
- Quest Medical Imaging BV
- Carl Zeiss Meditec AG
- PerkinElmer Inc
- Medtronic PLC
- KARL STORZ SE & Co. KG
- LI-COR Inc.
- Shimadzu Corporation
- Leica Microsystems
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However, high cost of infrared detectors and availability of alternative imaging techniques are key factors that are expected to hinder the market growth. In addition, approval processes by the U.S. Food and Drug Administration (FDA) for dyeing equipment can be lengthy, which can result in delay of treatment process. The introduction of targeted fluorophores is also restricted as FDA has not granted approval for fluorescence imaging. Moreover, imaging agents have to undergo the same FDA process as the other pharmaceutical drugs, which may take longer time for approval. Due to longer FDA process, fluorescent probe worth nearly USD 150 million are still in the pipeline for approval. These factors are expected to restraint growth of near infrared imaging market during the forecast period.
Some Key Highlights in the Report
- In January 2021, Olympus Corporation announced signing of a definitive agreement to purchase Quest Photonic Devices BV. The deal is valued at USD 60.70 million and is intended to reinforce Olympus Corporation’s capabilities in surgical endoscopy.
- Among the product type segments, the devices segment accounted for a significantly large revenue share in 2020. Devices such as near-infrared fluorescence imaging find application in lesion detection and imaging-guided surgery. Near-infrared fluorescence imaging devices provide enhanced spatial resolution and provides a better optical view of internal structures owing to its ability to reach a significant tissue depth.
- Near-infrared imaging market in North America accounted for largest market share the global market in 2020, which can be attributed to rapid adoption of advanced technologies, increasing investment in innovative imaging modalities, and high healthcare expenditure in countries in the region. In addition, rising prevalence of chronic diseases and presence of leading providers of near-infrared imaging systems in countries in the region are other factors driving market growth.
- Among the application segments, revenue from the reconstructive surgery segment is expected to register a significantly high growth rate during the forecast period. Near-infrared imaging technology, due to ability for anatomical guidance in real-time, perioperative, and identification ability, helps in evaluating tissue viability by monitoring perfusion and oxygenation changes during the transfer of pedicled flaps in plastic/reconstructive surgery.
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Emergen Research has segmented the global near-infrared imaging market on the basis of product type, application, end-use, and region:
Product Type Outlook (Revenue, USD Million; 2018–2028)
Application Outlook (Revenue, USD Million; 2018–2028)
- Cancer Surgeries
- Cardiovascular Surgeries
- Gastrointestinal Surgeries
- Reconstructive Surgeries
- Preclinical Imaging
End-Use Outlook (Revenue, USD Million; 2018–2028)
- Pharmaceutical Companies
- Research Institutes
Regional Outlook (Revenue, USD Million; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Global Near-Infrared Imaging Market Geographical Landscape – Synopsis:
- The report closely studies the growth trajectory of the global Near-Infrared Imaging market. It brings to light the global dominance of the leading regional segments, including North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
- The study elaborates on the crucial information pertaining to the regional market share. It simultaneously focuses on the significant details about the growth patterns of each regional market.
- Moreover, the report encases an exhaustive geographical study of the market, emphasizing the business growth prospects and market barriers for each of the key market regions.
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