The Near infrared imaging market is expected to reach USD 1.1 Billon by 2032 at CAGR 11.5% during the forecast period 2024-2032.
Certain factors increase the market growth. The increasing number of surgical procedures is one of the main causes of the market getting popular. Including this, the rising number of patients with chronic diseases and the increasing geriatric population provide growth for the market. Near-infrared imaging uses light between 650 to 950 nm to detect any changes induced, injury, or disease in the human body. It is a powerful diagnostic tool for a minimally invasive and nonionizing method for tissue imaging. NIR is not absorbed well by the blood or water, which are the main components of tissues, and so it increases the chances of illumination for internal structures. It is also advantageous over other techniques since it provides better resolution and is less harmless to patients. The increasing number of surgery procedures worldwide for cancer, intestinal and cardiovascular surgeries combined with relevance with target diseases are the factors for the market growth. The growing health awareness in emerging economically high countries will boost the market in the forecast period. Although, the high cost of the infrared detectors and the availability of other alternative techniques will hamper the market growth.
The near infrared imaging market has been segmented into product type, application, and end user.
By product type, the market has been segmented into devices, reagents, and others. Devices segment is further segmented into near-infrared fluorescence imaging systems and near-infrared bioluminescence imaging systems.
Based on application, the market has been segmented into cancer surgeries, preclinical imaging, reconstructive/plastic surgeries, gastrointestinal surgeries, cardiovascular surgeries, and others.
The near infrared imaging market, by end user, has been segmented into pharmaceutical & biotechnology companies, hospitals & clinics, research laboratories & academic institutions, and others.
The near infrared imaging market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European near infrared imaging market has been segmented into Western Europe and Eastern Europe. The Western Europe market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.
The market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The market in the Middle East & Africa has been segmented into the Middle East and Africa.
Regional Market Summary
Geographically, the Americas is anticipated to dominate the near infrared imaging market owing to the high domestic income, and presence of major market players. According to the US Investments in Medical and Health Research and Development 2013-2015, a report by Research America, in 2015, total US medical and health R&D in the US was USD 158.7 billion.
Europe is expected to hold the second largest position in the near infrared imaging market. The market growth in this region is attributed to the presence of strong academic & research base and availability of funding for research in the European countries. For instance, the European Research Council (ERC) provides grants for technological and scientific research conducted within the European Union (EU).
The near infrared imaging market in Asia-Pacific region consists of countries namely China, Japan, Republic of Korea, India, Australia and Rest of Asia-Pacific. The Asia-Pacific region is expected to be fastest growing region owing to increasing government focus on biomedical and biotechnology sector and growing number of target population in the region.
The Middle East & Africa has the lowest share of the near infrared imaging market. Majority of the market of the region is anticipated to be held by the Middle East region owing to the growing government initiatives for the healthcare sector.
Market of Near Infrared Imaging, by Key Players
Recent Development
May 2022
A team of scientists whose leader was Professor Hongjie Zhang and Professor Yinghui Wang from State Key Laboratory of Rare Earth Resource Utilisation, Changchun Institute of Applied Chemistry (CIAC), Chinese Academy of Sciences, China, Jianhua Liu from the Department of Radiology, The Second Hospital of Jilin University, China, and co-workers have developed a core-shell structured nano theranostics agent (YVO4:Nd3+-HMME@MnO2-LF, marked as YHM) with YVO4:Nd3+ particles as the core and MnO2 nanosheets as the shell.
April 2022
A group of scientists from the Indian Institute of Technology Jodhpur has established that eye images acquired by low-cost near-infrared (NIR) cameras can aid in low design costs. It also provides ease of use and practical solutions for cataract detection. Known as MTCD, the proposed multi task deep learning algorithm is inexpensive and results in very high levels of accuracy.Intended Audience
| Report Attribute/Metric | Details |
| Â Â Market Size | USD 1.1 Billion |
| Â Â CAGR | 11.5% |
| Â Â Base Year | 2023 |
| Â Â Forecast Period | 2024-2032 |
| Â Â Historical Data | 2020 |
| Â Â Forecast Units | Value (USD Billion) |
| Â Â Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Â Â Segments Covered | Product Type, Applications And End User |
| Â Â Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Â Â Key Vendors | PerkinElmer Inc. (US), Li-Cor Inc. (US), Stryker Corporation (US), Karl Storz Se & Co.Kg (Germany), Carl Zeiss Meditec AG (Germany), Leica Microsystems (Germany), Medtronic (Ireland), Hamamatsu Photonics K.K., (Japan), Olympus Corporation (Japan), Shimadzu Corporation (Japan), Quest Medical Imaging B.V. (the Netherlands), Mizuho Medical Co.Ltd. (Japan) |
Near Infrared Imaging Market Highlights:
Frequently Asked Questions (FAQ) :
The near infrared imaging market is projected to grow at a 11.5% CAGR between 2024-2032.
The Americas is expected to dominate the near infrared imaging market.
Key competitors in the near infrared imaging market include Mizuho Medical Co., Ltd. (Japan), Quest Medical Imaging B.V. (the Netherlands), Shimadzu Corporation (Japan), Olympus Corporation (Japan), Hamamatsu Photonics K.K., (Japan), Medtronic (Ireland), Leica Microsystems (Germany), Carl Zeiss Meditec AG (Germany), Karl Storz Se & Co.Kg (Germany), Stryker Corporation (US), Li-Cor, Inc. (US), and PerkinElmer, Inc. (US),
Rising number of surgical procedures and rising incidence of chronic diseases is boosting market growth.
Lengthy approval processes may limit market growth.
Research Analyst Level I He is an extremely curious individual currently working in healthcare and medical devices domain. kinjoll is comfortably versed in data centric research backed by healthcare educational background. he leverages extensive data mining and analytics tools such as primary and secondary research, statistical analysis, machine learning, data modelling. his key role also involves technical sales support, client interaction and project management within the healthcare team. lastly, he showcases extensive affinity towards learning new skills and remain fascinated in implementing them.
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