Near Infrared Imaging Market Analysis by Key Type and Applications, Industry Growth Factors and Business Forecast 2023

Posted July 23, 2020 by diksha3847

The worldwide near infrared imaging market has been segmented on the basis of product type, application, and end user.
Near Infrared Imaging Research Report: by Product Type (Devices, Reagents, and others), by Application (Cancer Surgeries, Preclinical Imaging, and others) By End User (Pharmaceutical & Biotechnology Companies, Hospitals & Clinic) - Global Forecast Till 2023

Market Drivers and Key Barriers

Near infrared imaging, the market is expanding at a striking pace largely due to rising cancer cases and the surge in technological advancements. Near infrared imaging helps the wildlife researchers in studying warm-blooded animals, in addition to aiding archaeologists in analyzing the artifacts as well as in surveying various archaeological sites.

World over, the development of cutting-edge and sophisticated technology, expeditious advancement of high-speed infrared cameras that come with latest features and the consistent advancement of micro bolometer has resulted in the radical transformation of the near infrared imaging market.

Other than this, the growth in the adoption rate of Near Infrared Imaging Market in the field of military and defense to detect small details over extended distances, and the rising demand from emerging nations like India and China will bring in excellent business for the market in the subsequent years.

Although the market growth is expected to be excellent in the future, the market could hit a roadblock in the form of high cost of research and development. But, the boost in the number of surgical procedures and the rising prevalence of chronic diseases and expanding geriatric population are projected to be propitious factors in the market growth in the foreseeable future.

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Prominent Vendors:

The prominent vendors part of the global near infrared imaging market include Leica Microsystems (Germany), Mizuho Medical Co., Ltd. (Japan), Quest Medical Imaging B.V. (the Netherlands), PerkinElmer Inc. (US), Stryker Corporation (US), Hamamatsu Photonics K.K., (Japan), Karl Storz Se & Co.Kg (Germany), Shimadzu Corporation (Japan), Olympus Corporation (Japan), Medtronic (Ireland), Li-Cor Inc. (US), Carl Zeiss Meditec AG (Germany), and others.

Market Segmentation:

The worldwide near infrared imaging market has been segmented on the basis of product type, application, and end user.

The types of products mentioned in the report are devices, reagents, and others. The devices segment is sub-segmented into near-infrared fluorescence imaging systems and near-infrared bioluminescence imaging systems.

In terms of application, the market is considered for cancer surgeries, preclinical imaging, plastic/reconstructive surgeries, gastrointestinal surgeries, cardiovascular surgeries, and others.

The near infrared imaging market, depending on the end-user, caters to pharmaceutical & biotechnology companies, hospitals & clinics, research laboratories & academic institutions, and others.

Recent Developments:

June 2019: A team of researchers from Denmark has developed a method that helps translate information from the mid-infrared (MIR) area with most distinct chemical signatures to the near-infrared (NIR) region with most sensitive existing camera technology. This system has the ability to capture the MIR spectral images of dynamic processes happening in just a few milliseconds. This technology also helps in investigating the chemical signatures of cancer as well as various other diseases with high accuracy.

Regional Analysis:

The global near infrared imaging market is spread across the prominent regions of Europe, Asia Pacific, America, and the Middle East & Africa.

America is expected to gain massive prominence in the global near infrared imaging market, says MRFR. The dominance of the region is the result of the high spending on healthcare, expanding geriatric population, rising prevalence of target diseases, a growing number of cosmetic surgeries, and the fast-track adoption of technologically sophisticated imaging systems within the region.

Accumulating the second-largest share of the global near infrared imaging market, Europe’s growth trajectory is expected to be striking in the near future, owing to the existence of a strong academic & research base coupled with the massive funding for research in the region. Case in point is the European Research Council (ERC), which is known for providing grants for scientific research within the European Union (EU). The booming medical tourism in the region, high awareness level, and huge foreign investments for research and development are presumed to do wonders for the regional market in the ensuing years.

The Asia Pacific market for near infrared imaging thrives with considerable contributions from countries like India, Japan, China, Republic of Korea, Australia and the Rest of Asia Pacific. The region is speculated to be growing at the fastest-rate backed by the increasing focus by the government on biomedical and biotechnology sector paired with the elevated number of target population within the region. Moreover, technological advancements, along with the integration of information technology (IT) in the healthcare industry, have been the high impact rendering factors fueling the market growth in the region.

Finally, the growth of the Middle East & Africa market has been unsatisfactory, accounting for the least share of the worldwide near infrared imaging market. The major portion of the regional market is expected to be under the Middle East region, with the primary deciding factor being the rise in the government initiatives with the aim of improving the healthcare sector in the region.

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Last Updated July 23, 2020