The global near infrared imaging market size was valued at USD 2.15 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 4.70% from 2022 to 2030.
Near infrared imaging detects any changes, injury, or disease by using light between 650 and 950 nm. It is an effective diagnostic tool for minimally invasive and non-ionizing tissue imaging. Because NIR is not well absorbed by blood or water, which are the main components of tissues, the changes in illumination for internal structures increase. It is superior to other techniques because it provides better resolution and is less harmful to patients.
The rise in the number of surgical procedures for cancer surgery, gastrointestinal surgery, cardiovascular surgery, plastic/reconstructive surgeries, and the rising prevalence of target diseases such as lung cancer, breast cancer, colon cancer, and prostate cancer, as well as the rising prevalence of chronic diseases and neurological disorders, are driving the growth of the near infrared imaging market. Furthermore, the global surge in NIR imaging adoption, rise in geriatric population, and health awareness in emerging economies are the primary factors driving the growth of the global near infrared imaging market. However, the high availability of alternative imaging techniques and the high cost of infrared detectors limit market growth.
Market Dynamics
Drivers:
With the rising prevalence and incidence of diseases such as cancer, cardiovascular disease, neurovascular disease, and gastrointestinal disease, more surgical procedures are being performed. Trauma cases and surgical cosmetic procedures are also fuelling the rise in surgical treatments. NIR imaging is used for intraoperative imaging during a wide range of surgical procedures, including plastic and reconstructive surgery, cancer surgery, gastrointestinal surgery, cardiovascular surgery, cardiothoracic surgery, and neurovascular surgery. During these operations, NIR imaging assists surgeons in evaluating blood flow, tissue viability, and perfusion. In cancer procedures, NIR imaging is used to create positive margins that aid in the separation of malignant tumours from healthy tissues. As a result, the growing number of surgical procedures is expected to drive the NIR imaging market.
Restraints:
Only methylene blue and indocyanine green (ICG) were approved for clinical use by the FDA in 1959. However, because ICG and MB are blood pool agents, they are not the best fluorophores for fluorescence image-guided surgery because they are not specific for malignancies or healthy tissues. Because the degree of molecular absorption into the target and nearby normal tissues differs, the visibility of the target tissues is primarily determined by the efficacy of fluorescent agents. Targeted fluorophores allow researchers to see the intended target tissues, which improves clinical outcomes. However, the lack of FDA approvals in the United States has hampered the Near Infrared Imaging Market.
Key players:
Market Segmentation:
Near Infrared Imaging Market, By Product
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Devices
o Near-Infrared Fluorescence Imaging
o Near Infrared Fluorescence & Bioluminescence Imaging Devices -
Reagents
o ICG
o Other Reagents
Near Infrared Imaging Market, By Application
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Others
Near Infrared Imaging Market, By End User
Near Infrared Imaging Market, By Region
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North America
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Europe
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Asia-Pacific
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Latin America
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Middle East and Africa
Regional Analysis:
In 2021, North America dominated the global industry, accounting for more than XX% of overall revenue. It is expected to grow at a rapid pace over the forecast period, owing to consumers' high disposable income and the adoption of technologically advanced medical devices and diagnostic techniques. The high number of cancer cases reported in the country is expected to drive the market in the United States. According to the International Agency for Research on Cancer, approximately 2,281,658 new cancer cases were identified in the United States in 2020. Furthermore, an increase in the number of reconstructive and cosmetic surgeries in the country because of increased spending and rising awareness about early detection is expected to create robust growth opportunities.
Over the forecast period, the Asia Pacific region is expected to have the fastest CAGR. The presence of developing countries such as China, India, and Japan are expected to spur growth in the region. Furthermore, a large target population pool with low per capita income levels has resulted in a high demand for cost-effective treatment options. Multinational corporations want to invest in developing countries like Japan, India, and South Korea. As a result, many industry players are forming strategic alliances with local players. This is expected to bolster regional near infrared imaging market growth in the coming years.
Scope of the Report:
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Report Coverage |
Details |
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Base year |
2021 |
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Forecast period |
2022-2030 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.70% |
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YoY growth (%) |
XX% |
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Regional analysis |
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Current Market size |
USD 2.15 billion |
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Companies Covered |
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User
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Market Size Estimation
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In the top-down technique, the market is divided into segments based on the percentage share of each segment. This method assisted in determining the size of each segment's market. The market size of each segment and its sub-segments was then divided into regional market sizes. This Approach helps mainly with the new Product Launch. It uses Multi-variate Regression Model coupled with Vendor based primary research inputs to forecast to the Market Size.
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