Near Infrared Imaging Market Outlook 2026 Opportunity and Growth Analysis with Top Key Vendors
According to a new report published by KD
Market Insights, titled, "Near
infrared imaging Market by
Product, Application, Indication and End User: Global Opportunity Analysis and
Industry Forecast, 2018-2026," The global market accounted for $271
million in 2018, and is expected to reach $375 million by 2026, registering
a CAGR of 4.1% from 2019 to 2026.
Near infrared imaging is an imaging technology
which employs the administration of non-toxic dye such as indocyanine green to
the tissues. The tissues are illuminated with near infrared light which produce
fluorescence which is received by a camera and converted to 2-D images. The NIR
systems are used to study various diseases and are also applied in cancer
surgeries and diagnosis.
Factors such as rise in number of surgical procedures
worldwide coupled with surge in prevalence of target diseases and increase in
prevalence of chronic diseases and neurological disorders, are responsible for
driving the growth of market. In addition, surge in adoption of NIR imaging
across the globe is the prime growth factor for the global near infrared
imaging market. However, availability of other alternative imaging techniques
and high price of infrared detectors restrict the growth of the global market.
The near infrared imaging market is segmented
based on product, application, indication, end user, and region to provide a
detailed assessment of the market. Based on product, the market is divided into
near infrared fluorescence imaging systems and near infrared fluorescence &
bioluminescence imaging systems. Near- Infrared Fluorescence Imaging Systems
acquired the major share of near infrared imaging system market owing to their
application during surgeries such as cancer surgery, plastic surgery and other
surgeries. Furthermore, the surge in number of surgeries performed for cancer
is another factor that boosts the growth of market. These systems are also
employed in diagnosis of cancers such as breast cancer.
Based on indication, the market is divided
into cancer surgeries, cardiovascular surgeries, gastrointestinal surgeries,
plastic/reconstructive surgeries, and others. Cancer surgeries acquired the
major share of the near infrared imaging market owing to surge in cancer
prevalence worldwide.
Based on end user, the market is segmented
into hospitals and clinics, research laboratories, and others. Hospitals
acquired the major share of the near infrared imaging market as NIR imaging
systems are used in surgeries performed in hospitals. Moreover, wide spread
presence of hospitals is another factor that boosts the growth of this segment.
The hospital segment is estimated to exhibit a CAGR of 4.3%.
In 2018, North America accounted for the major
share of near infrared imaging market size and is expected to continue this
trend owing to rise in number of surgical procedures performed in the region.
Moreover, other factors such as easy availability of NIR imaging systems,
presence of key players and surge in adoption of NIR imaging systems boost the
market growth in this region. Asia-Pacific is expected to exhibit fastest
growth rate owing to surge in awareness related to early screening of cancer.
The other factors that boost the growth of market include huge patient base and
rise in healthcare expenditure in the region. The developing economies offer
lucrative opportunities for near infrared imaging providers to expand their
business. The constantly evolving life science industry drives the growth of
the market in the developing economies such as India, China, Malaysia, and
others.
Key Findings of the Near infrared
imaging Market :
- Near infrared fluorescence imaging systems
occupied 92.79% share of the global near infrared imaging market in 2018
- The medical imaging segment is anticipated to grow with the highest CAGR throughout the forecast period
- The cardiovascular surgeries segment accounted for 10.23% share of the market in 2018
- Asia-Pacific is anticipated to grow at the highest rate during the analysis period, followed by LAMEA
- The medical imaging segment is anticipated to grow with the highest CAGR throughout the forecast period
- The cardiovascular surgeries segment accounted for 10.23% share of the market in 2018
- Asia-Pacific is anticipated to grow at the highest rate during the analysis period, followed by LAMEA
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