Near Infrared Imaging Market to Grow with a CAGR of 4.1% Globally through to 2028
Global Near-Infrared Imaging Market is rising due to
its non-invasive, real-time imaging capabilities that find applications in
medical diagnostics, research, and industrial processes, driving demand across
various sectors in the forecast period 2024-2028.
According to TechSci Research report, “Global Near
Infrared Imaging Market - Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, Global Near Infrared Imaging Market
has valued at USD 2.4 Billion in 2022 and is anticipated to project robust
growth in the forecast period with a CAGR of 4.1% through 2028. The Global
Near-Infrared Imaging Market is experiencing substantial growth, primarily
driven by its versatility and wide-ranging applications in various industries.
Near-infrared imaging technology utilizes the near-infrared spectrum of light
to capture images and provide valuable insights. In the medical field, it has
revolutionized diagnostics and surgical procedures by offering non-invasive and
real-time visualization of tissues, aiding in the early detection of diseases
like cancer and enhancing surgical precision. This has led to an increased
adoption of near-infrared imaging systems in healthcare facilities worldwide.
Furthermore, the market has witnessed significant
expansion into industrial and agricultural sectors. Near-infrared imaging's
ability to analyze materials and substances, such as food quality assessment,
moisture detection, and chemical composition analysis, has made it
indispensable in ensuring product quality and safety. Additionally, it plays a
crucial role in environmental monitoring and remote sensing applications,
contributing to its growing relevance in research and development. The Global
Near-Infrared Imaging Market is characterized by continuous technological
advancements, including the integration of artificial intelligence and machine
learning for data analysis, further enhancing its capabilities. With a
broadening scope of applications, increasing awareness of its benefits, and
ongoing innovation, the near-infrared imaging market is poised for continued
growth in the coming years, attracting investments and shaping industries
across the globe.
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Infrared Imaging Market”.
The global near infrared imaging market has witnessed
significant growth in recent years, driven by advancements in technology and
increasing applications across various industries. Near infrared imaging refers
to the use of near infrared light to capture images of objects or tissues. This
non-invasive imaging technique has gained popularity due to its ability to
provide real-time, high-resolution images, making it a valuable tool in medical
diagnostics, pharmaceutical research, and industrial inspections. One of the
key factors contributing to the growth of the near infrared imaging market is
the rising demand for non-invasive medical imaging techniques. Near infrared
imaging offers several advantages over traditional imaging methods, such as
X-rays and magnetic resonance imaging (MRI). It allows for the visualization of
deep tissues and organs without the need for ionizing radiation or contrast
agents, making it safer for patients. Moreover, near infrared imaging can
provide real-time feedback during surgical procedures, enabling surgeons to
make more informed decisions and improve patient outcomes. In addition to
medical applications, near infrared imaging is finding increasing use in the
pharmaceutical industry. It is being employed in drug discovery and development
processes to assess the pharmacokinetics and biodistribution of new drug
candidates. Near infrared imaging can provide valuable insights into the
absorption, distribution, metabolism, and excretion of drugs, helping
researchers optimize drug formulations and dosing regimens. This has led to a
growing adoption of near infrared imaging systems by pharmaceutical companies,
driving market growth.
Furthermore, the industrial sector is also embracing
near infrared imaging for quality control and inspection purposes. Near
infrared cameras can detect defects, contaminants, and inconsistencies in
various materials, including food products, textiles, and electronics. This
enables manufacturers to identify and rectify issues early in the production
process, reducing waste and improving product quality. As a result, near
infrared imaging systems are being increasingly integrated into manufacturing
lines, contributing to the expansion of the market. Geographically, North
America currently dominates the global near infrared imaging market, owing to
the presence of well-established healthcare infrastructure and a strong focus
on research and development. However, the Asia-Pacific region is expected to
witness the highest growth rate during the forecast period. This can be
attributed to the increasing healthcare expenditure, growing pharmaceutical
industry, and rising adoption of advanced imaging technologies in countries
like China and India. Despite the promising growth prospects, the near infrared
imaging market faces certain challenges. The high cost of near infrared imaging
systems and the lack of skilled professionals proficient in interpreting near
infrared images are some of the factors restraining market growth. However,
ongoing technological advancements and increasing investments in research and
development are expected to address these challenges and drive the market
forward.
In conclusion, the global near infrared imaging market
is experiencing robust growth, fueled by the demand for non-invasive medical
imaging techniques, the expanding applications in the pharmaceutical industry,
and the need for quality control in manufacturing processes. With advancements
in technology and increasing awareness about the benefits of near infrared
imaging, the market is poised for further expansion in the coming years.
The Global Near Infrared Imaging Market is segmented
into Product, Application, End-use, regional distribution, and company.
Based on its Application, the preclinical imaging
segment dominated the market for near infrared imaging and held the largest revenue
share of 34.90% in 2022. The cancer surgeries segment is expected to witness a
CAGR of 4.9% during the forecast period owing to the increasing prevalence of
cancer on a global scale. For instance, according to the International Agency
for Research on Cancer in 2020, there were about 19,292,789 new cancer cases
globally, the same source states that the number is expected to reach
50,550,287 by 2025.
Near-infrared (NIR) regents are used in preclinical
imaging research to study diseases and conditions such as cancer, inflammation,
infection, vascular, and others. The development of advanced NIR reagents with
improved fluorescence, tissue penetration, and targeted fluorescence
capabilities promotes its adoption into preclinical research. For instance, COX
2 probe- a targeted NIR dye developed by PerkinElmer Inc. detects
cyclooxygenase-2, produced in early-stage cancer Such dyes are used in faster
clinical development of oncology drugs and diagnostic devices.
Neurological complications are common during cardiovascular
procedures such as coronary surgery and valve replacement. Therefore, it is
important to monitor the cerebral oxygenation level during cardiac surgeries to
improve surgical outcomes. The strong impetus of implementing measures to
monitor cerebral desaturation during cardiac surgery is a key factor promoting
the adoption of NIR imaging.
Based on region, North America dominated the market
for near infrared imaging and accounted for the largest revenue share of 40.49%
in 2022 and is expected to witness a growth rate of over 4.0% over the forecast
period. This growth is owing to the high disposable income of consumers, speedy
adoption of technologically advanced medical devices, and diagnostic
techniques. A large number of cancer cases reported in the country are expected
to boost the market in the U.S. According to International Agency for Research
on Cancer, around 2,281,658 new cancer cases were identified in 2020 in the
U.S. In addition, rise in the number of reconstructive and cosmetic surgeries in
the country owing to increased spending and rising awareness regarding early
diagnosis is expected to create robust growth opportunities.
In Asia Pacific, the market for near infrared imaging
is anticipated to witness the fastest CAGR over the forecast period. The
presence of developing countries such as China, India, and Japan is anticipated
to boost the growth of the market in the region. The presence of a huge
population base with low per capita income in the Asia Pacific region has led
to high demand for affordable treatment options. Multinational companies are
keen to invest in developing countries, such as Japan, India, South Korea, and
more. Thus, many market players are entering into strategic alliances with
local players. This is anticipated to augment the near infrared imaging market
growth.
Major companies operating in Global Near Infrared
Imaging Market are:
- 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
- Fluoptics
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“The global near infrared imaging market has witnessed
significant growth in recent years, driven by advancements in technology and
increasing applications across various industries. Near infrared imaging, a
non-invasive imaging technique that uses near infrared light to capture
high-resolution images, has gained popularity in medical diagnostics,
pharmaceutical research, and industrial inspections. The rising demand for
non-invasive medical imaging techniques has been a key factor contributing to
market growth, as near infrared imaging offers advantages such as real-time
visualization of deep tissues without ionizing radiation or contrast agents. In
the pharmaceutical industry, near infrared imaging is being used to assess the
pharmacokinetics and biodistribution of new drug candidates, aiding in drug
discovery and development. Additionally, near infrared imaging is being
embraced by the industrial sector for quality control and inspection purposes,
enabling early detection of defects and improving product quality. While North
America currently dominates the market, the Asia-Pacific region is expected to
witness the highest growth rate due to increasing healthcare expenditure and
adoption of advanced imaging technologies. Challenges such as the high cost of
systems and the lack of skilled professionals are being addressed through
ongoing technological advancements and investments in research and development.
Overall, the near infrared imaging market is poised for further expansion in
the coming years.,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Near
Infrared Imaging Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast, Segmented By Product (Devices, Reagents), By Application (Cancer
Surgeries, Gastrointestinal Surgeries, Cardiovascular Surgeries,
Plastic/Reconstructive Surgeries, Other), By End-use (Hospitals & Clinics,
Pharmaceutical & Biotechnology Companies, Research Laboratories), By
Region, By Competition”, has evaluated the future growth potential
of Global Near Infrared Imaging Market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Near Infrared Imaging Market.
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