Infrared Imaging Market size is slated to exhibit substantial growth between 2023 and 2032 driven by the rising prevalence of neurological disorders across the world.
Thermal infrared cameras have gained widespread prominence in the field of medicine as non-invasive, and non-radiating tools to analyze physiological functions associated with skin temperature. To that end, infrared imaging is largely used to detect and assess thermal abnormalities that can enable early diagnosis of certain ailments.
Rising incidences of chronic diseases such as diabetes, prostate cancer, and breast cancer have accelerated the need for diagnostic procedures, further boosting the emphasis on infrared imaging. According to a new study by the International Agency for Research on Cancer (IARC), by 2040, the prevalence of breast cancer is expected to increase by 40% to reach over 3 million new cases every year. The study predicts a 50% surge in breast cancer-related mortality with more than 1 million deaths per year.
The rise in patient inclination towards minimally invasive surgical procedures to diagnose and treat gastrointestinal, cancer, and cardiovascular diseases is expected to proliferate the adoption of infrared imaging technology in the upcoming period. In the last couple of years, the space of medical imaging has also undergone a significant transformation with the integration of IT, AI, and IoT to speed up the early diagnosis of critical illnesses.
The outbreak of the COVID-19 pandemic had a significant impact on the infrared imaging market as it helped penetrate IR imaging amidst the growing concerns among healthcare workers and patients regarding the transmission of the virus. The use of IR imaging in the treatment of acute illnesses such as stroke, myocardial infarction, and other malignancies declined significantly as governments worldwide put a hold on elective surgeries to focus mainly on COVID-19.
However, the increasing focus on infrared thermography temperature measurement in the management of coronavirus outbreaks helped to boost the scope of IR applications. Moreover, the Russia-Ukraine war is also expected to have a positive impact on the overall industry outlook. The geopolitical fallout introduced new challenges in the healthcare sector with numerous supply chain disruptions, surging costs of raw materials, and inflation.
Based on modality, the infrared imaging market is bifurcated into mounted and portable. The demand for mounted IR devices is expected to hold a significant market share by 2032. The segment growth can be attributed to the rising technological advancements in mounted systems and the rapid adoption of these devices across hospitals and diagnostic centers.
By end-user, the industry is categorized into diagnostic centers, research laboratories, specialty clinics, hospitals, and others (airports). The hospital segment is anticipated to depict substantial growth by 2032 driven by the rising count of hospitals across the globe. The growing burden of chronic diseases and the surging investments in the development of healthcare infrastructure will also consolidate the segment growth.
North America infrared imaging market size is poised to expand at an exponential rate between 2023 and 2032. The growth can be accredited to the increasing prevalence of arthritis, breast cancer, and nerve-related issues. The region also fosters a significant number of research and development activities in the field of medical technologies and life science, adding to the market development.
The competitive landscape of the global infrared imaging market consists of Leica Microsystems, InfraTec, Stryker, FLIR Systems, Spectron IR, Infrared Cameras, and Quest Medical Imaging, among others. These companies are focusing on new product launches and innovations to expand their offerings. For instance, in July 2022, Leica Microsystems unveiled a new version of Aivia, an AI-powered image analysis solution.