Near Infra-Red Imaging Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3574
Near infra-red imaging market size is expected to grow significantly from 2019 to 2025.
Near infra-red imaging market is anticipated to witness lucrative growth in coming years. Substantial growth is attributed to rising prevalence of chronic diseases such neurological ailment, cancer, Alzheimer’s disease and schizophrenia globally. Increasing number of baby boomers susceptible to chronic conditions has led to escalation in disease burden. Moreover, advantages of NIR imaging over conventional visualization methods utilized in treatment of chronic diseases will stimulate the industry growth.
Technological advancements and integration of IT in the healthcare sector will significantly drive business growth over the forecast timeframe. Technological advancements in NIR devices enable to deliver non-laser infrared light energy deep into muscles and joints that reduce invasiveness of procedures resulting in enhanced patient outcome. Moreover, significant investment by industry players to develop superior near infrared devices that has advanced functioning will drive business growth. However, high availability of alternate imaging techniques may hamper market growth up to certain extent.
Device segment is estimated to witness considerable growth during the forecast period. Rapid advances in sensors and microelectronics along with introduction of new applications will augment its demand in diagnostic centers and hospitals. Growing inclination towards portable, multi-use and versatile systems to ensure efficient diagnosis will foster segmental growth in the foreseeable future.
Cancer Surgeries segment accounted for significant market share in 2018 and is estimated to follow similar trend during the forecast period owing to increasing prevalence of cancer. According to World Health Organization, in 2015, more than 24.6 million people worldwide suffered from cancer. NIR enables to deliver clearer images during surgical procedures that aids healthcare professionals to deliver effective treatment, thereby delivering enhanced patient care. As a result, employment of near infrared imaging systems to detect tumors will prove beneficial for segment growth.
Hospitals and clinics segment is predicted to witness lucrative growth in coming years. The segmental growth is attributable to growing burden of chronic diseases on healthcare industry. Multi-specialty hospitals offer advanced therapeutic solutions to patients, thereby improving patient outcomes. Affordability of hospitals to buy technologically advanced near infra-red imaging systems and increasing adoption of minimally invasive surgical procedures will increase demand for near infra-red imaging in forthcoming period.
Asia pacific near infra-red imaging market will witness considerable growth during the forecast timeframe. Rising patient pool of chronic and infectious diseases will augment demand of advanced imaging techniques for accurate diagnosis. Additionally, government is increasingly expending on development of healthcare infrastructure. This will increase cashflow amongst hospitals that will enable them to incorporate near infrared imaging system to provide efficient treatment. Thus, rising patient pool coupled with increasing government expenditure will boost regional market growth.
Some of the major industry players operating in the electrophysiology industry includes Stryker, KARL STORZ SE & Co. KG., Carl Zeiss Meditec AG, Leica Microsystems, Olympus, Fluoptics, Hamamatsu Photonics K.K, Quest Medical Imaging B.V., Mizuho Medical Co, Ltd., Shimadzu Corporation, PerkinElmer, Inc., LI-COR, Inc. and SurgVision. For instance, in 2018, Medtronic acquired VisionSense, a company engaged in the development of visualization and imaging solutions for minimally invasive surgeries. This will help Medtronic to provide near-infrared imaging devices to end-users.
Near Infra-Red Imaging Market By Product, 2014-2025 (USD Million)
Near Infra-Red Imaging Market By Application, 2014-2025 (USD Million)
- Preclinical Imaging
- Cancer Surgeries
- Gastrointestinal Surgeries
- Cardiovascular Surgeries
- Plastic/Reconstructive Surgeries
Near Infra-Red Imaging Market By End User, 2014-2025 (USD Million)
- Hospitals & Clinics
- Pharmaceutical & Biotechnology Companies
- Research Laboratories
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- KARL STORZ SE & Co. KG.
- Carl Zeiss Meditec AG
- Leica Microsystems, Olympus
- Hamamatsu Photonics K.K
- Quest Medical Imaging B.V.
- Mizuho Medical Co, Ltd.
- Shimadzu Corporation
- PerkinElmer, Inc.
- LI-COR, Inc.
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