Near Infrared Imaging Market Expected to Surpass USD 1,094 million by 2025 – ZMR News Blog

Near Infrared Imaging Market Expected to Surpass USD 1,094 million by 2025

Zion Market Research has published a new report titled “Near Infrared Imaging Market by Product (Reagents and NIR Bioluminescence & Fluorescence Imaging Devices), by Application (Cancer Surgeries, Plastic/Reconstructive Surgeries, In Vivo Imaging, Gastrointestinal Surgeries, Cardiovascular Surgeries, and Others), and by End-User (Research Laboratories, Hospitals, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global near infrared imaging market was valued at approximately USD 420 million in 2018 and is expected to generate around USD 1,094 million by 2025, at a CAGR of around 14.8% between 2019 and 2025.

Near infrared imaging employs near-infrared expanse of the electromagnetic spectrum. It is a non-invasive technique that uses non-ionizing rays for detecting the hemoglobin amount existing in body tissues, brain, and muscles. Near infrared imaging has a major application in physiological diagnostics. The rising number of surgeries worldwide, multiple advantages offered by near infrared imaging as compared to conventional methods, rapid developments in the NIR imaging devices, advancements in cancer detection, increasing number of cancer and chronic patients, growing research and development activity in the healthcare IT sector, growing incidences of neurological disorders, and rising geriatric population are major factors driving the growth of the global near infrared imaging market. Nonetheless, prolonged approval procedures, the high price of infrared detectors, the huge popularity of alternative imaging techniques, and the absence of healthcare infrastructure and skilled professionals in the developing regions may restrict the global near infrared imaging market.

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The global near infrared imaging market is split based on the product, application, and end-user. Based on product, the near infrared imaging market includes reagents and NIR bioluminescence and fluorescence imaging devices. NIR bioluminescence and fluorescence imaging devices are likely to dominate the market over the estimated timeline, due to the growing number of surgeries and rising cancer prevalence. The application segment includes cancer surgeries, plastic/reconstructive surgeries, in vivo imaging, gastrointestinal surgeries, cardiovascular surgeries, and others. The cancer surgeries segment dominated the market in 2018, due to the growing cancer prevalence worldwide and increasing use of innovative techniques in cancer detection and therapy. The end-user segment includes research laboratories, hospitals, and others. Hospitals are expected to dominate the market in the future, due to the growing number of reconstructive and plastic surgeries performed globally.

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North America will lead the global near infrared imaging market over the forecast time period and accounted for over 38% of the global share in 2018. This can be attributed to the huge spending on healthcare, rapidly growing geriatric population, growing incidences of target diseases, an increasing number of people suffering from neurological disorders, the introduction of novel products, and presence of state-of-the-art healthcare facilities. Europe will be the second largest near infrared imaging market globally in the future, owing to the presence of skilled professionals, high R&D investment by leading companies, increasing geriatric population, the rising prevalence of chronic disorders, and positive reimbursement scenario. The Asia Pacific will propagate speedily over the forecast time period, due to the rising incidences of chronic diseases, growing geriatric population in Japan and China, and rising disposable income of the regional population.

Some key players of the global near infrared imaging market are Hamamatsu Photonics, Bruker Corporation, Karl Storz Gmbh, MIZUHO Corporation, PerkinElmer Inc., Miltenyi Biotec, Thermo Fisher Scientific Inc., and NOVADAQ Technologies Inc.

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This report segments the global near infrared imaging market into:

Global Near Infrared Imaging Market: By Product

  • Reagents
  • NIR Bioluminescence and Fluorescence Imaging Devices

Global Near Infrared Imaging Market: By Application

  • Cancer Surgeries
  • Plastic/Reconstructive Surgeries
  • In Vivo Imaging
  • Gastrointestinal Surgeries
  • Cardiovascular Surgeries
  • Others

Global Near Infrared Imaging Market: By End-User

  • Research Laboratories
  • Hospitals
  • Others

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