Near Infrared Imaging Market To Witness Massive Growth
Near Infrared Imaging Industry Overview
The global near infrared imaging market size was valued at USD 2.06 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 3.9% from 2023 to 2030.
Increasing incidence of target diseases, such as cardiovascular diseases (CVDs), gastrointestinal, neurovascular, and cancer, is likely to boost the demand for near infrared imaging in the coming years. According to the WHO, CVDs account for about 17.9 million deaths each year globally. Moreover, growing demand for technologically advanced fluorescence imaging systems and various initiatives undertaken by key market players is anticipated to boost the overall market growth. For instance, in September 2022, Sony, Olympus, and Sony Olympus Medical Solutions collaborated to develop a surgical endoscopy system that supports 4K, 3D, and infrared imaging features.
Gather more insights about the market drivers, restrains and growth of the 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. 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. According to a report published by American Society of Plastic Surgeons (ASPS), in 2020 about USD 16.7 billion was spent on cosmetic procedures in the U.S. These factors are expected to positively impact the market during the forecast period. 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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- The global sports medicine market size was valued at USD 5.46 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2030.
- The global preclinical imaging market size was estimated at USD 4.30 billion in 2023 and is expected to grow at a CAGR of 4.55% from 2024 to 2030.
Near Infrared Imaging Market Segmentation
Grand View Research has segmented the global near infrared imaging market based on product, application, end-use, and region:
Near Infrared Imaging Product Outlook (Revenue, USD Million, 2018 - 2030)
- Devices
- Near-infrared Fluorescence Imaging Systems
- Near-infrared Fluorescence & Bioluminescence Imaging Systems
- Reagents
- Indocyanine Green (ICG)
- Other Reagents
Near Infrared Imaging Application Outlook (Revenue, USD Million, 2018 - 2030)
- Preclinical Imaging
- Cancer Surgeries
- Gastrointestinal Surgeries
- Cardiovascular Surgeries
- Plastic/Reconstructive Surgeries
- Other Applications
Near Infrared Imaging End-user Outlook (Revenue, USD Million, 2018 - 2030)
- Hospitals & Clinics
- Pharmaceutical & Biotechnology Companies
- Research Laboratories
Near Infrared Imaging Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- Thailand
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Columbia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
Key Companies profiled:
- Quest Medical Imaging B.V.
- Stryker
- KARL STORZ SE & Co. KG
- Olympus
- Hamamatsu Photonics K.K
- Mizuho Medical Co, Ltd.
- Shimadzu Corp.
- Leica Microsystems
- Medtronic (Visionsense)
- PerkinElmer, Inc.
- Carl Zeiss Meditec
- Fluoptics
Key Near Infrared Imaging Company Insights
The key players are focusing on growth strategies, such as new product launches, expansion, collaborations, partnerships, and acquisitions. For instance, in January 2021, KARL STORZ announced the launch of the system named IMAGE1 S Rubina multimode visualization, the latest advancement in endoscopic imaging. This technology combines state-of-the-art 4K resolution with superior fluorescence-guided imaging using indocyanine green dye and near-infrared light and (NIR/ICG).
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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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