Near-Infrared Imaging Market Trend - Rising Number of Cosmetic Surgeries and High Preference for Near-Infrared Imaging Over Conventional Imaging Methods
Rising prevalence of various cancers including breast, lung, prostate and colon worldwide, rising number of cosmetic surgeries, and high preference for near-infrared imaging over conventional imaging methods are expected to drive global Near-Infrared Imaging market growth.
According to Emergen Research, the global near-infrared imaging market size was USD 950.1 million in 2021 and is expected to reach USD 2,252.5 million in 2030 and register a steady CAGR of 10.1% during the forecast period, 2022-2030.
Near infrared (NIR) imaging system is a diagnostic tool that uses near infrared light between 650 and 950 nm to detect chances of abnormalities in the body caused due to injuries or diseases. It is a minimally invasive and non-ionizing method that measures the concentration and oxygenation in the muscles, brain, and other tissues. Near infrared imaging is widely used in physiological and medical diagnostics and research-based activities. These systems are rapidly gaining traction owing to rising number of surgical procedures to cater to increasing prevalence of chronic diseases, cardiovascular disorders, various types of cancers, and neurological diseases.
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Factors such as rising geriatric population, increasing awareness about the benefits of near-infrared imaging technology, rapid adoption of near-infrared imaging in sectors such as atmospheric chemistry, astronomy, pharmaceutical, and combustion research are expected to drive global market revenue growth during the forecast period. In addition, increasing funds for research-based activities, rapid adoption of near-infrared imaging hospitals & clinics and research laboratories across the globe, and rising investments in developing advanced devices and systems are expected to drive market growth going ahead.
However, high cost of near-infrared imaging systems, growing preference for other imaging modalities such as thermal imaging, ultrasound, and MRI, and dearth of skilled professionals are some key factors that are expected to hamper global market growth to a certain extent during the forecast period.
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
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Hospitals & Clinics Segment to Account for largest Revenue Share:
The hospitals & clinics segment is expected to account for largest revenue share during the forecast period. This can be attributed to large patient pool, rising number of surgical procedures across the globe, increasing clinical applications of near infrared imaging in many therapeutic areas, and rapid adoption of advanced NIR imaging systems in medium to large scale hospitals and clinics.
Plastic/Reconstructive Surgeries Segment To Register Rapid Revenue Growth:
The plastic/reconstructive surgeries segment is expected to register rapid revenue growth over the forecast period owing to growing demand for minimally invasive cosmetic procedures, rising disposable income, and increasing adoption of near-infrared imaging for rhinoplasty, otoplasty, breast reduction, and augmentation.
North America to Lead In Terms of Revenue Share:
North America is expected to dominate other regional markets in terms of revenue share during the forecast period owing to large patient population, presence of well-established healthcare infrastructure, rapid adoption of advanced imaging technology, and increasing number of surgeries. In addition, high disposable income, presence of leading companies, and rising investments in R&D activities are expected to drive North America market growth during the forecast period.
Major Companies in the Market Include:
- Carl Zeiss Meditec AG
- Olympus Corporation
- PerkinElmer, Inc.
- Shimadzu Corporation
- Merck & Co., Inc.
- Thermo Fisher Scientific
- Leica Microsystems
- LI-COR, Inc.
- Quest Medical Imaging B.V.
- Cayman Chemical
Scope of Near-Infrared Imaging Research
Market size in 2021
USD 950.1 Million
Revenue forecast to 2030
USD 1,859.9 Million
Base year for estimation
Revenue in USD Million and CAGR in % from 2022 to 2030
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
U.S., Canada, Germany, France, U.K., Italy, Spain, Rest of Europe, China, India, Japan, South Korea, Australia, Rest of APAC, Brazil, Mexico, Rest of LATAM, Saudi Arabia, UAE, Africa, and Rest of MEA
Stryker (U.S.), Carl Zeiss Meditec AG (Germany), Olympus Corporation (Japan), PerkinElmer, Inc. (U.S.), Shimadzu Corporation (Japan), Merck & Co., Inc. (U.S.), Thermo Fisher Scientific (U.S.), Leica Microsystems (U.S.), LI-COR, Inc. (U.S.), Fluoptics (France), Quest Medical Imaging B.V. (Netherlands), and Cayman Chemical (U.S.)
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For the purpose of this report, Emergen Research has segmented the global near infrared imaging market on the basis of product type, application, end-use, and region:
Product Type Outlook (Revenue, USD Million; 2019–2030)
- Near-Infrared Fluorescence Imaging Systems
- Near-Infrared Fluorescence and Bioluminescence Imaging Systems
Application Outlook (Revenue, USD Million; 2019–2030)
- Preclinical Imaging
- Cancer Surgeries
- Gastrointestinal Surgeries
- Cardiovascular Surgeries
- Plastic/Reconstructive Surgeries
End-use Outlook (Revenue, USD Million; 2019–2030)
- Hospitals & Clinics
- Research Laboratories
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Regional Outlook (Revenue, USD Million; 2019–2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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