Near Infrared Imaging Market Size & Growth Analysis to 2030

The global near infrared imaging market size is anticipated to grow at a prominent CAGR of over 10% during the forecast period from 2021 to 2027. The rising prevalence of various targeted diseases such as cardiovascular disease, cancer, neurovascular, and gastrointestinal is estimated to increase the number of surgical procedures across the globe, which is a major factor to drive the market growth. Furthermore, the surgical procedures are further increasing due to the increasing cosmetics surgeries and trauma cases, which is another factor to drive the market growth.

Moreover, the increasing geriatric population and technological advancement in the healthcare industry is anticipated to fuel the market growth. According to the World Health Organization (WHO), the population aged 65 years and above is projected to reach approximately 1.5 billion by 2050 and the major share will be contributed by developing economies. In addition, the wide use of near infrared imaging in various applications such as pulse oximetry, neurology, urology, and bold sugar is expected to uplift the market.

Market Drivers:

Increasing applications in healthcare: Near-infrared imaging has found widespread applications in the healthcare industry, including medical diagnostics, surgical imaging, and monitoring of physiological parameters. Near-infrared imaging provides real-time visualization of tissues and organs, aiding in early disease detection, guiding surgical procedures, and monitoring treatment outcomes. The growing demand for advanced medical imaging technologies drives the adoption of near-infrared imaging in healthcare.

Advancements in imaging technology: Technological advancements in near-infrared imaging have led to improved image quality, enhanced sensitivity, and higher spatial resolution. Innovations in sensors, detectors, cameras, and image processing algorithms have contributed to the development of more accurate and reliable near-infrared imaging systems. These advancements have increased the adoption of near-infrared imaging in various industries, including healthcare, agriculture, defense, and industrial automation.

Rising demand for non-invasive imaging techniques: Near-infrared imaging is a non-invasive imaging technique that allows for imaging of internal structures without the need for invasive procedures or ionizing radiation. The demand for non-invasive imaging techniques is increasing due to the advantages of reduced patient discomfort, faster image acquisition, and improved safety. Near-infrared imaging offers a non-invasive alternative for various applications, driving its adoption in medical and research settings.

Growing prevalence of chronic diseases: The prevalence of chronic diseases, such as cancer, cardiovascular diseases, and neurodegenerative disorders, is increasing globally. Near-infrared imaging has shown potential in the early detection and monitoring of these diseases by visualizing molecular and functional changes in tissues. The need for effective diagnostic tools for chronic diseases fuels the demand for near-infrared imaging technology.

Rising investments in research and development: Significant investments in research and development activities related to near-infrared imaging have contributed to technological advancements and the expansion of its applications. Research institutions, academic centers, and industry players are investing in the development of new imaging techniques, imaging probes, and software algorithms to enhance the capabilities of near-infrared imaging. These investments drive the growth of the near-infrared imaging market.

Increasing adoption in agriculture and food quality control: Near-infrared imaging is used in agriculture for crop monitoring, disease detection, and assessing plant health. It is also employed in the food industry for quality control, including assessing the ripeness of fruits, detecting contaminants, and monitoring food processing. The adoption of near-infrared imaging in agriculture and food quality control is driven by the need for efficient and non-destructive evaluation methods.

Regulatory support and standards: Regulatory support and the establishment of standards for near-infrared imaging technologies have facilitated their adoption in various industries. Regulatory bodies provide guidelines for the use of near-infrared imaging in medical applications, ensuring safety and efficacy. The presence of regulatory support and standards encourages healthcare providers and other industries to adopt near-infrared imaging systems.

Growing awareness and acceptance: Increased awareness of the benefits and applications of near-infrared imaging has led to its wider acceptance. Healthcare professionals, researchers, and industry stakeholders are recognizing the potential of near-infrared imaging as a valuable diagnostic and monitoring tool. The growing awareness and acceptance of near-infrared imaging contribute to market growth.

Market Outlook:

Market Insights:

The global near-infrared imaging market is bifurcated into product, application, end-user, and geography. On the basis of product, the market is further segmented into devices and reagents. The reagents segment is estimated to hold the largest market share of over 55% of the market and is expected to grow at a significant growth rate over the forecast period. The advantage associated with the reagents over the traditional visible light dyes includes high sensitivity and specific detection in biological systems.

Based on the application, the market is segmented into cancer surgeries, preclinical imaging, gastrointestinal surgeries, and other applications. The preclinical imaging segment dominated the global near infrared imaging market in 2020 and accounted for over one-third percent of the market share. On the other hand, the cancer surgeries segment is expected to grow at the fastest growth rate over the forecast period due to the increasing incidence of cancer disease across the globe.

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The near infrared imaging comprehensive study offers an in-depth analysis of industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The near infrared imaging market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2018-19 – Historical Year
• 2020 – Base Year
• 2021-2027 – Forecast Period

Market Segmentation:

By Product:

• Devices
• Reagents

By Application:

• Cancer Surgeries
• Preclinical Imaging
• Gastrointestinal Surgeries
• Cardiovascular Surgeries
• Plastic/Reconstructive Surgeries
• Other Applications

By End-User:

• Hospitals & Clinics
• Pharmaceutical & Biotechnology Companies
• Research Laboratories

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage:

Geographically, the near-infrared imaging market report comprises dedicated sections centering on the regional market revenue and trends. The near infrared imaging market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, and Rest of the World (RoW). The RoW segment consists of Latin America and the Middle East & Africa. The near infrared imaging market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. Near infrared imaging market estimates have also been provided for the historical years 2018 & 2019 along with forecasts for the period from 2021 – 2027.

Market Competition Assessment:

Some of the major players operating in the global near-infrared imaging market are Quest Medical Imaging B.V., Olympus, Hamamatsu Photonics K.K, KARL STORZ SE & Co. KG, and Stryker. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• Quest Medical Imaging B.V.
• Olympus
• Hamamatsu Photonics K.K
• KARL STORZ SE & Co. KG
• Stryker
• Mizuho Medical Co, Ltd.
• Shimadzu Corporation
• Leica Microsystems
• Medtronic (Visionsense)
• PerkinElmer, Inc.

Key Questions Answered by Near Infrared Imaging Market Report

• Global near infrared imaging market forecasts from 2021-2027
• Regional near infrared imaging market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2021-2027 covering 15 major countries from the aforementioned regions
• Near infrared imaging submarket forecasts from 2021-2027 cover the market by product, by application, by end-use, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis pertaining to near-infrared imaging market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level near-infrared imaging markets from 2021-2027
• Competitive Landscape and market positioning of top 10 players operating in the near infrared imaging market