Near Infrared Imaging Market to Grow at 3.9% CAGR by 2030
Rise in geriatric population, surge in adoption of NIR imaging across the globe, and health awareness in the emerging economies are the major factors that drives the growth of the global near infrared imaging market.
The global near-infrared imaging market is anticipated to grow at a CAGR of 3.9% from $285.39 million in 2019 to generate revenue of $434.72 million by 2030., according to the report by Next Move Strategy Consulting.
Near Infrared Spectroscopy and Imaging (NIRS) uses near infrared light between 780 nm to 2500 nm to non-invasively probe the concentration and oxygenation of haemoglobin in the brain, muscle and other tissues. Near infrared is used to detect changes induced by brain activity, injury, or disease. The rise in the number of chronic diseases such as prostate cancer, lungs cancer and many others, leading to surgical procedures and diagnostics has led to a remunerative growth in the near infrared imaging market. However, the high cost and availability of other alternatives like thermal imaging, MRI, ultrasound and many more has been observed as a restraint hampering the market growth globally.
The global near infrared imaging market is segmented based on product, application, indication, end user, and region to provide a detailed assessment of the market. On the basis of product, the market is divided into near infrared fluorescence imaging systems and near infrared fluorescence & bioluminescence imaging systems. Based on application, the market is classified into pre-clinical imaging, medical imaging and clinical imaging. Based on indication, the market is segmented into cancer surgeries, cardiovascular surgeries, gastrointestinal surgeries, plastic/reconstructive surgeries, and others. Based on end user, the market is divided into hospitals & clinics, research laboratories, and others. Geographically, the near infrared imaging market size is analyzed across North America, Europe, Asia-Pacific, and rest of the world (RoW).
North America held the lion share of near infrared imaging market size in 2019 and is predicted to dominate the market during the forecast period owing to rise in the number of surgical procedures performed in the region along with advancement of medical facilities and health care centres. Asia-Pacific is expected to manifest fastest growth rate owing to surge in awareness regarding the benefits of early screening of cancer.
Major players operating in the market include Carl Zeiss AG, Danaher Corporation (Leica Microsystems), Hamamatsu Photonics K.K., Karl Storz SE & Co. KG, Li-Cor, Inc., Medtronic plc., PerkinElmer Inc., Quest Innovations B.V. (Quest Medical Imaging B.V.), Shimadzu Corporation, and Stryker Corporation.
Key Insights from the near infrared imaging market report:
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Current emerging trends and opportunities are extensively analysed in the Near Infrared Imaging market report.
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The forecast of the Near Infrared Imaging market comes along with additional information associated with opportunities, restrains and key drivers in the market.
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