Near Infrared Imaging Market Players And Analysis by Product Type, by Application And By End User - Global Forecast Till 2027
Market Research Future (MRFR) predicts that from 2022 to 2027, the global market for near-infrared imaging will expand at a CAGR of 12.6%. (forecast period). The COVID-19 pandemic's impact on the near-infrared imaging market is discussed in the research, which also provides a full analysis of the expected changes in demand over the course of the forecast period.
Light between 650 and 950 nm is employed in near infrared imaging to find any alterations brought on by illness or injury. It is a useful diagnostic tool for imaging tissues with little to no ionising radiation. The primary constituents of tissues, blood and water, do not absorb the NIR well, which enhances fluctuations in the illumination of the internal structures. This approach beats out alternatives because it provides a better result and poses less of a risk to patients.
Market Dynamics
The market is primarily driven by factors like the rise in surgical operations. In addition to the rising elderly population and the incidence of chronic diseases, it supported market expansion. The market's expansion may be hampered by protracted approval procedures that may limit the supply of specific fluorophores.
As per the American Cancer Society, at least 42% of newly diagnosed cancer cases were registered in the US in 2018, which is nearly 729,000 cases. Nevertheless, more than 15.5 million Americans received cancer treatment.
Some of the most prominent near infrared imaging market players are PerkinElmer, Inc. (US), Shimadzu Corporation (Japan), Li-Cor, Inc. (US), Stryker Corporation (US), Olympus Corporation (Japan), Karl Storz Se & Co.Kg (Germany), Carl Zeiss Meditec AG (Germany), Medtronic (Ireland), Hamamatsu Photonics K.K., (Japan), Quest Medical Imaging B.V. (the Netherlands), Leica Microsystems (Germany), Mizuho Medical Co., Ltd. (Japan), Others
Market Segmentation of Near Infrared Imaging Market
The global market for near infrared imaging market has been segmented into product type, application, and end-user.
By product type, the global market for near infrared imaging has been segmented into devices, reagents, and others. The devices segment is further segmented into near-infrared fluorescence imaging systems and near-infrared bioluminescence imaging systems.
By application, the global market for near infrared imaging has been segmented into cancer surgeries, gastrointestinal surgeries, preclinical imaging, plastic/reconstructive surgeries, cardiovascular surgeries, and others.
By the end-user, the global market for near infrared imaging has been segmented into research laboratories & academic institutions, pharmaceutical & biotechnology companies, hospitals & clinics, and others.
Regional Analysis
By region, the global near infrared imaging market has been segmented into the Americas, Europe, Asia Pacific, and the Middle East & Africa.
The Americas are expected to drive the global near-infrared imaging market due to high domestic income and the involvement of significant market players. As stated by the US Investments in Medical and Health Research and Development 2013-2015 study by Research America, total US medical and health R&D in 2015 amounted to USD 158.7 billion.
The second-largest market share for near-infrared imaging is expected to remain with Europe. Due to the large academic and research basis in this area as well as the availability of research funding in European nations, demand in this area is growing. As an illustration, funding are offered by the European Research Council (ERC) for technological and scientific research carried out within the European Union (EU).
The Asia Pacific region is projected to be the fastest-growing region due to an increasing government focus on the biomedical and biotechnology sectors and an expanding number of target populations in the region.
The Middle East & Africa has the smallest share of the global demand for near infrared imaging. The majority of the region's market is projected to be controlled by the Middle East region due to increasing government initiatives in the healthcare sector.
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