Near-Infrared Imaging Market Size Forecasted to be Worth USD 1,535.0 Million in 2028

Near-Infrared Imaging Market Size

The global near-infrared imaging market size is expected to reach USD 1,535.0 Million in 2028, and register a revenue CAGR of 13.2% during the forecast period. The market’s high revenue growth is resultant of growing prevalence of different types of chronic diseases including cardiovascular diseases and cancers. In 2020, approximately 19.3 million individuals were diagnosed with cancer, resulting in nearly 10 million deaths globally.

An emerging technology, near-infrared imaging is used in both preclinical and clinical imaging applications for cancer patients, offering several benefits such as real-time display of images of internal structures of the human body, high spatial resolution of images, and comprehensive molecular profiling combined with the use of fluorescent probes. Additionally, growing demand for near-infrared imaging technology to detect cancer at early stage is a primary factor expected to support the market revenue growth during the forecast period.

Furthermore, rapidly growing global geriatric population is another significant factor augmenting demand for near-infrared imaging systems, thus, contributing to the overall market growth. Approximately 80% of the geriatric population suffers from at least one type of chronic disease, whereas nearly 77% of that population suffers from any two types of chronic conditions, with cancer and cardiovascular disease being the most common chronic disease.

Near-infrared imaging has widespread applications in the field of physiological diagnostics and study of blood sugar, pulse oximetry, sports medicine, neurology, and urology. Growing requirement for surgical procedures and diagnosis for chronic diseases among a considerable population is further impacting the revenue growth of the near-infrared imaging market.

Near-Infrared Imaging

Near-Infrared Imaging

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Some Key Highlights in the Report:

  • In January 2021, Olympus Corporation declared to sign a definitive agreement for purchasing Quest Photonic Devices BV. The deal is worth USD 60.70 million and is intended to reinforce the capabilities of Olympus Corporation in surgical endoscopy.
  • In terms of product type, the devices segment registered for a significantly high revenue share in the year 2020. Devices like near-infrared fluorescence imaging find application in imaging-guided surgery and lesion detection. Near-infrared fluorescence imaging devices offer enhanced spatial resolution, along with providing a better optical view of internal structures due to its ability to reach tissue depth at significant extent.
  • Based on application, revenue from the reconstructive surgery segment is predicted to increase at a significant rate going ahead. Near-infrared imaging technology, owing to its ability in real-time anatomical guidance, identification, and perioperative ability, aids in evaluating tissue viability by monitoring oxygenation changes during the pedicled flaps transfer in reconstructive/plastic surgery.
  • In North America, the near-infrared imaging market accounted for the highest revenue share in 2020, which is resultant of rapid adoption of forefront technologies, rising investment in different innovative imaging modalities, and increasing healthcare expenditure in various countries in the region. Also, growing prevalence of several chronic diseases and existence of leading providers of near-infrared imaging systems in North American countries are some of the other factors supporting the revenue growth of this regional market.
  • Major players operating in the market include Stryker Corporation, Olympus Corporation, Quest Medical Imaging BV, PerkinElmer Inc., Carl Zeiss Meditec AG, Medtronic PLC, LI-COR Inc., KARL STORZ SE & Co. KG, Leica Microsystems, and Shimadzu Corporation.

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; 2018–2028)

  • Devices
  • Reagents

Application Outlook (Revenue, USD Million; 2018–2028)

  • Cancer Surgeries
  • Cardiovascular Surgeries
  • Gastrointestinal Surgeries
  • Reconstructive Surgeries
  • Preclinical Imaging
  • Others

End-Use Outlook (Revenue, USD Million; 2018–2028)

  • Hospitals
  • Pharmaceutical Companies
  • Research Institutes
  • Others

Regional Outlook (Revenue, USD Million; 2018–2028)

  • North America
  • S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • K.
  • France
  • Italy
  • Spain
  • Sweden
  • Rest of Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of APAC
  • Latin America
  • Brazil
  • Rest of LATAM
  • Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Turkey
  • Rest of MEA

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