Near Infrared Imaging Market: Asia Pacific Is Anticipated To Witness The Fastest CAGR Over The Forecast Period

 Near Infrared Imaging Industry Overview

The global near infrared imaging market size was valued at USD 179.5 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 9.3% from 2021 to 2028. Increasing incidence of target diseases, such as cardiovascular diseases, gastrointestinal, neurovascular, and cancer, is likely to boost the demand for near infrared imaging in the coming years. Furthermore, rapidly rising aging population base and technological advancements in the field of near infrared imaging systems are factors expected to enhance market growth. Growing demand for technologically advanced fluorescence imaging systems for deep tissue penetration is anticipated to boost the overall market growth.

The COVID-19 pandemic affected the market for near infrared imaging as these are critical care medical devices and are mainly used during surgical procedures. The restrictions led to a decrease in demand for near infrared imaging devices as the medical settings redirected their sources on essential and life-saving devices. However, increasing funding in research and grants specific to the development of infrared technology for hospital use is anticipated to fuel market growth over the forecast period. For instance, the European Commission funds a project involved in the development of mobile infrared technology to access the microvascular structure of COVID patients admitted in ICU.

Gather more insights about the market drivers, restrains and growth of the Global Near Infrared Imaging market

Increase in the adoption of surgical interventions has augmented the usage of visualization equipment to perform the surgery. Microsurgery has been chosen by several individuals on large scale due to rising prevalence of chronic diseases caused by stress, work pressure, improper eating habits, sedentary lifestyle, exposure to chemicals, and heredity. In addition, as per the World Bank Data, in 2016, around 10,156 surgical procedures were performed per 100,000 population in Australia. Furthermore, increasing awareness among the population owing to the benefits of treating a medical condition with surgery at the proper stage is boosting the demand for surgical procedures, thereby increasing adoption rate of near infrared imaging. Hence, the rise in surgical procedures is expected to fuel the market for near infrared imaging over the forecast period.

A constant rise in the geriatric population is increasing the financial burden on the healthcare system. According to the Global Health and Aging report by the WHO, the number of people with age 65 and more is anticipated to rise from approximately 524 million in 2010 to nearly 1.5 billion by 2050, especially in developing economies. Such a rise in the elderly population base will subsequently result in the greater application of near infrared imaging, hence supporting market growth.

Near-infrared imaging has a wide range of applications including physiological diagnostics and study of pulse oximetry, blood sugar, sports medicine, urology, and neurology. Besides, there are more than 250 clinical trials to explore potential applications of this technique in other applications. Early detection of Alzheimer’s disease with the help of non-invasive near-infrared spectroscopy is expected to have a significant impact on the usage of the NIR technique in neurology. Functional near-infrared spectroscopy is integrated with optical imaging technology and is increasingly used in the neuroimaging domain.

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Near Infrared Imaging Market Segmentation

Grand View Research has segmented the global near infrared imaging market based on product, application, end-user, and region:

Near Infrared Imaging Product Outlook (Revenue, USD Million, 2016 - 2028)

  • Devices
  • Reagents

 

Near Infrared Imaging Application Outlook (Revenue, USD Million, 2016 - 2028)

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

 

Near Infrared Imaging End-use Outlook (Revenue, USD Million, 2016 - 2028)

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

 

Near Infrared Imaging Regional Outlook (Revenue, USD Million, 2016 - 2028)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Key Companies profiled:

Some prominent players in the global Near Infrared Imaging market include

  • Quest Medical Imaging B.V.
  • Stryker
  • KARL STORZ SE & Co. KG
  • Olympus
  • Hamamatsu Photonics K.K
  • Mizuho Medical Co, Ltd.
  • Shimadzu Corporation
  • Leica Microsystems
  • Medtronic (Visionsense)
  • PerkinElmer, Inc.
  • Carl Zeiss Meditec AGLI-COR, Inc.
  • Fluoptics
  • SurgVision
  • PERKINELMER INC

 

Order a free sample PDF of the Near Infrared Imaging Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

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