Near Infrared Imaging Market

Near Infrared Imaging Market Outlook (2022-2027)

The global near infrared imaging market is forecasted to evolve at a stupendous CAGR of 16% and increase from a market valuation of US$ 1 billion in 2022 to US$ 2.1 billion by the end of 2027.

Demand for near infrared imaging devices is expected to accelerate at a prolific CAGR of 16.2% through 2027 due to the surging prevalence of gastrointestinal, cardiovascular, and cancer disorders across the world.

Near infrared light waves with a wavelength between 650 and 950 nm are used in near infrared medical imaging, sometimes referred to as near infrared spectroscopy, to non-invasively assess the oxygenation and hemoglobin content in the muscles, brain, and other tissues of the body. Because it is non-invasive, the near infrared diagnostic imaging solution has several advantages over various other radio-imaging techniques that are now in use.

This allows for repeated use of the technology on patients without any negative consequences. Additionally, precise absorption by natural chromophores enables the collection of functional patient data, such as the level of oxyhemoglobin in particular tissues.

The market for near infrared imaging has experienced profitable growth as a result of the rise in chronic conditions such as prostate cancer, lung cancer, and many others that require surgical treatments and diagnostics. Additionally, the rise in the elderly population and growing public awareness of the benefits of near infrared imaging are other major factors that are certain to drive market growth over the years ahead.

Rising frequency of chronic diseases and neurological problems as a result of unhealthy lifestyles will provide plenty of prospects for the manufacturers of near infrared imaging devices to increase their sales and profit margins over the coming years.

Major players in the near-infrared imaging market widely resort to product launches and expansion strategies to increase their global footprint and cater to the escalating demand across the world. Top companies are following the strategy of product innovation to meet shifting consumer demand globally, which also enables market players to preserve their brand identity internationally.

For instance,

• In 2021, Leica Microsystems announced a collaboration with Imperial College London to establish an imaging center specifically for optical imaging and its usage in research and innovation projects.

North America accounts for the highest share of the global near infrared imaging market. This regional market is propelled by variables such as expanding demand for near infrared fluorescence imaging systems, surging prevalence of target diseases, and a growing number of cosmetic surgeries being performed in the region.

High disposable income, rising surgical procedures, ongoing research activities, increasing adoption of near infrared hyperspectral imaging systems, huge demand for non-invasive coronary imaging solutions, and quick uptake of advanced imaging equipment are all contributing factors to regional market growth.

Report Attributes	Details
Near Infrared Imaging Market Size (2022)	US$ 1 Billion
Projected Market Value (2027)	US$ 2.1 Billion
Global Market Growth Rate (2022-2027)	16% CAGR
Market Share of Near Infrared Imaging Devices	50%
Share in Medical Imaging Market (2022)	4%
Key Companies Profiled	Artinis Medical Systems Bruker Carl Zeiss Meditec Olympus Corporation PerkinElmer Inc. Fluoptics Hamamatsu Photonics K.K. Innopharma Labs IRCameras LLC Karl Storz SE & Co. KG Leica Microsystems

Market Evolution During Previous Years and Future Prospects

“Constant Innovations in Near Infrared Imaging Technology”

The deployment of near infrared imaging techniques, which have significant uses in clinical and preclinical applications, has been prompted by the growing need for effective diagnostic imaging services. Due to their great spatial resolution, real-time display, portability, and thorough molecular profiling, they are being employed more frequently in the clinical management of cancer patients.

The use of technologically advanced tools by healthcare facilities and diagnostic centers is expected to increase industry statistics significantly over the forecast period.

Due to the increased incidence of chronic diseases brought on by stress, work pressure, poor eating habits, sedentary lifestyles, chemical exposure, and hereditary, many people have chosen microsurgery on a big scale. The population's growing understanding of the advantages of doing surgery at the right time to treat a medical issue is another factor driving up demand for surgical procedures and near infrared imaging adoption rates. Therefore, an increase in surgical operations is anticipated to drive the market for near infrared imaging throughout the forecast period.

“Minimal Radiation Hazards Associated with Near Infrared Imaging Devices”

Growing elderly population is one of the factors driving the demand for near infrared imaging systems. The market is anticipated to expand at a rapid rate over the coming years because of the increase in skin, bone, and transplant surgeries. Moreover, there are many hospitals, diagnostic facilities, and research labs. The global market for near infrared imaging is expected to expand significantly due to minimal radiation hazards associated with infrared imaging.

Although not specifically for cancer, fluorescence imaging has a long history of clinical application. The patient population prefers fluorescence imaging because it offers better tissue penetration and reduced autofluorescence. The non-ionizing approach of deep tissue imaging combined with the near infrared imaging technique's advantages should support its use in both operating rooms and emergency departments. Furthermore, NIR contrast agents based on nanoparticles are more stable than their organic equivalents and offer resistance to quick photo-bleaching.

In comparison to open surgery methods, minimally-invasive procedures have several advantages, which are expected to drive the expansion of the market for near-infrared imaging. Smaller incisions, less discomfort and scarring, better precision, and shorter hospital stays are just a few benefits of minimally-invasive operations.

A significant improvement in surgical outcomes is possible with near infrared (NIR) image-guided surgery. A well-known technique for real-time, non-contact imaging is near infrared imaging. The demand for qualified individuals has increased as a result of quick advancements in the healthcare sector. When performing surgeries, it's critical to know how to use cutting-edge near infrared imaging technology and to do so effectively.

The need for near infrared imaging is anticipated to rise as surgical operations increase globally. The global near infrared imaging market is anticipated to develop during the projected period due to the rising incidence of cancer and the rising desire to investigate the stages of diseases.

Challenges Faced by Near Infrared Imaging Equipment Providers

“High Cost of Near Infrared Imaging Products & Lack of Qualified Professionals”

High cost and accessibility of other alternative procedures, including thermal imaging, MRI, ultrasound, and many more are the factors hampering market growth.

NIR imaging is an advanced imaging method that requires trained operators to use it effectively. A major barrier to the adoption of these systems for clinical applications at the moment is the lack of experienced operators, particularly in developing countries.

How Can New Companies Penetrate This Market?

“Emerging Market Players Engaged in a Variety of R&D Projects”

New entrants participate in a variety of R&D projects and activities to create and implement new, more effective technologies in the global market.

• A start-up based in the U.S., Kernel, created a wearable headgear for preclinical brain imaging. The system, known as Kernel Flow, is based on time-domain functional near-infrared spectroscopy (TD-fNIRS), which is regarded as the industry standard for noninvasive optical brain imaging systems. By sending picosecond pulses of light into tissue and monitoring the arrival times of single photons, TD-fNIRS provides a precise, high-resolution measurement of the brain and its functioning.

Country-wise Insights

Why is the U.S. a Major Market for Near Infrared Imaging Technology?

“Increase in Reconstructive Surgeries Taking Place in the U.S.”

High usage of near infrared (NIR) image-guided surgery technologies, easy availability of NIR imaging systems, the existence of major companies, and the development of healthcare facilities are the main drivers of market expansion in the U.S.

Market expansion is driven by a high number of cancer cases, rapid innovations in near infrared imaging techniques, an increase in reconstructive surgeries, and growing awareness of the early diagnosis of diseases. The U.S. market is expanding mostly because of the development of aesthetic procedures and a rise in lifestyle disorders requiring surgical treatment.

How is the Market for Near Infrared Imaging Performing in China?

“Favorable Government Regulations for Product Approvals”

The near infrared imaging market in China is expected to increase at a CAGR of 15% from 2022 to 2027. The increased senior population, growing knowledge of the advantages of early cancer detection, and huge demand for near infrared reflectance imaging systems are driving market value.

The market is expanding as a result of several patients with cancer and chronic cardiovascular illnesses, favorable government regulations for product approval, huge demand for near-infrared fluorescene and bioluminescene imaging systems, strong consumer demand for affordable treatment choices, and increased medical tourism.

Category-wise Insights

Which Product Will Boost Near Infrared Imaging Industry Revenue?

“Rising Need for Real-time Image Guiding During Operations”

By product, the near infrared imaging market is divided into devices and reagents. Devices account for 50% share of the global market due to the increasing research by key market players in near infrared imaging devices and the benefits they provide, including enhanced image resolution, high sensitivity, and real-time image guiding during operations.

As a result of the introduction and approval of near infrared imaging systems for use during surgical procedures, the device sector is anticipated to experience profitable expansion.

Due to their advanced features, such as improved spatial image resolution and a clearer optical view of internal structures, near infrared fluorescence imaging devices are increasingly used for lesion detection and imaging-guided surgeries, which is one of the main factors boosting revenue growth of the segment.

Which End User Accounts for High Revenue Generation?

“Expanding Clinical Applications of NIR Imaging in Hospitals & Clinics”

The near infrared imaging market is classified into hospitals & clinics, pharmaceutical & biotechnology companies, and research laboratories based on end user.

The hospitals & clinics segment is predicted to experience profitable expansion over the coming years due to the growing investments made by healthcare settings in innovative technologies. This increase is the result of more cancer patients being admitted to hospitals, clinics, and other reputable healthcare institutions. To identify bedsores and avoid surgical mistakes, near infrared technology is frequently employed in hospitals and clinics.

The main factors that are anticipated to fuel the demand for hospitals over the coming years are the expanding clinical applications of NIR imaging in numerous therapeutic fields, the high demand for NIR imaging among clinicians around the world, and the high accuracy, high resolution, and low price of NIR imaging devices compared to traditional imaging systems such as CT and MRI.

Segments of Near Infrared Imaging Industry Research

• By Product:

  • Devices
  • Reagents

• By Application:

  • Preclinical Imaging
  • Cancer Surgeries
  • Gastrointestinal Surgeries
  • Cardiovascular Surgeries
  • Plastic/Reconstructive Surgeries
  • Others

• By End User:

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

• By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa