Near-Infrared Imaging Market Size to Reach USD 1535.0 Million in 2028 Growing at a CAGR of 13.2%, according to Emergen Research
Emergen Research has published its latest report titled “Near-Infrared Imaging Market, By Product Type (Devices, Reagents), By Application (Cancer Surgeries, Cardiovascular Surgeries, Gastrointestinal Surgeries, Reconstructive Surgeries, Pre-clinical Imaging, Others), By End-use (Hospitals, Pharmaceutical and Biotechnology Companies, Research Institutes, Others), and By Region, Forecast to 2028”
According to Emergen Research, the global near-infrared imaging market size was USD 562.3 Million in 2020 and is expected to reach USD 1535.0 Million in 2028 and register a revenue CAGR of 13.2% during the forecast period, 2021-2028.
Steady revenue growth of the global near-infrared imaging market is majorly attributed to factors such as rising geriatric population globally, increasing prevalence of life-threatening chronic diseases including cancer and various cardiovascular disorders, rising burden of target diseases such as neurovascular and gastrointestinal diseases, and increasing applications of near-infrared imaging technology in pre-clinical and clinical imaging procedures. Near-infrared imaging is increasingly being preferred to many other traditional imaging technologies due to advantages such as high-resolution, real-time images of internal body organs and comprehensive molecular profiling capability.
Other major factors contributing to revenue growth of the global near-infrared imaging market are growing awareness of early cancer detection and treatment, technological advancements in near-infrared imaging techniques and solutions, increasing use of fluorescence near-infrared imaging systems for deep tissue penetration, and growing use of the technique in physiological diagnostics, and in medical specialties such as neurology, urology, and pulse oximetry.
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COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Devices Segment Accounted for Largest Revenue Share in 2020:
Based on product type, the global near-infrared imaging market is segmented into devices and reagents. The devices segment dominated other product type segment in terms of revenue share in the global market in 2020. Among of the major factors supporting the revenue growth of this segment are increasing applications of near-infrared fluorescence imaging devices in lesion detection and imaging-guided surgeries, owing to the advanced features of these devices such as enhanced spatial image resolution and clearer optical view of internal structures.
Reconstructive Surgeries Application Segment Revenue to Expand at a Rapid CAGR:
Among application segments, the reconstructive surgeries segment is expected to register fastest revenue growth rate in the global near-infrared imaging market over the forecast period, owing to many favorable factors. Factors contributing to the revenue growth of this segment are increasing prevalence of cancer, cardiovascular disorders, neurovascular diseases, and gastrointestinal diseases, and growing use of near-infrared imaging solutions in reconstructive surgeries due to its excellent features such as real-time anatomical guidance in perioperative cases.
North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America near-infrared imaging market held the largest revenue share in the global market in 2020. Rising burden of chronic diseases, increasing geriatric population, growing demand for cutting-edge imaging technologies in the healthcare sector, and increasing adoption of advanced imaging modalities are some of the primary factors driving the North America market revenue growth. The regional market revenue growth is further driven by presence of advanced healthcare infrastructure and leading industry players in the region, such as PerkinElmer Inc., Stryker Corporation, and Leica Microsystems.
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Major Companies in the Market Include:
- Olympus Corporation
- Stryker Corporation
- Quest Medical Imaging BV
- Carl Zeiss Meditec AG
- PerkinElmer Inc.
- Medtronic PLC
- KARL STORZ SE & Co. KG
- LI-COR Inc.
- Shimadzu Corporation
- Leica Microsystems
For the purpose of this report, Emergen Research has segmented the global in-situ hybridization market on the basis of product type, application, end-use, and region:
Product Type Outlook (Revenue, USD Million; 2018–2028)
Application Outlook (Revenue, USD Million; 2018–2028)
- Cancer Surgeries
- Cardiovascular Surgeries
- Gastrointestinal Surgeries
- Reconstructive Surgeries
- Pre-clinical Imaging
End-use Outlook (Revenue: USD Million; 2018–2028)
- Pharmaceutical and Biotechnology Companies
- Research Institutes
Regional Outlook (Revenue, USD Million; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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