NEWARK, Del, Nov. 15, 2023 (GLOBE NEWSWIRE) -- The global near infrared imaging market is likely to jump from US$ 2.2 billion in 2024 to US$ 3.2 billion by 2034. This projected expansion is anticipated to result from a remarkable 3.9% CAGR in the demand for near infrared imaging over the upcoming decade.
In the upcoming years, it is anticipated that the market for NIR imaging will keep expanding. The market is anticipated to expand as a result of the growing need for NIR imaging in industrial inspection, medical diagnosis, and scientific research. Further driving the market growth is anticipated to be the creation of new NIR imaging technologies and the extension of NIR imaging into new applications.
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Food, medicine, and other products are inspected using near-infrared imaging (NIR) to look for flaws and contamination. This contributes to ensuring the items' safety and quality. The quality and resolution of images are getting better thanks to the development of new NIR imaging probes, dyes, and systems. Because of this, NIR imaging is now an even more effective method for diagnosis and examination.
North America is expected to be the largest market for NIR imaging during the forecast period. This is due to the high adoption of NIR imaging in medical diagnosis, industrial inspection, and scientific research. Europe is expected to be the second-largest market, followed by Asia Pacific. The Asia Pacific market is expected to grow at the fastest CAGR during the forecast period due to the rising demand for NIR imaging in emerging economies such as China and India.
Key Takeaways from the Near Infrared Imaging Market:
- The global near infrared imaging market is estimated to register a CAGR of 3.9% with a valuation of US$ 3.2 billion by 2034.
- The market captured a CAGR of 5.7% in the historical period between 2018 and 2022.
- The United States is anticipated to dominate the global market by registering a 4.1% CAGR during the forecast period.
- With 4.5% CAGR, China is significantly driving the global market by 2033.
- Japan is anticipated to secure a CAGR of 4.9% in the global market during the forecast period.
Key Players and Strategies for Success in the Near Infrared Imaging Market:
In recent years, there has been a surge in investment and collaboration within the industry, with venture capital firms and businesses. These strategic partnerships and financial investments aim to accelerate research and development, scale production, and expand market reach.
“As the market accelerates at a remarkable 3.9% CAGR, the Near Infrared Imaging sector is poised for transformative growth. This surge reflects a dynamic landscape, emphasizing the industry's resilience and its pivotal role in shaping technological advancements. The projected expansion signifies a promising future, with potential implications across healthcare and related sectors. Says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Recent Developments in the Near Infrared Imaging Market:
- In 2022, Leica Microsystems launched its NIR Fluorescence Imaging System, designed for use in both clinical and research settings. The system offers high-resolution imaging and compatibility with a wide range of NIR dyes.
- In 2023, Medtronic (Visionsense) received FDA approval for its NIR Fluorescence Imaging System, designed for use in minimally invasive spine surgery. The system aids in visualizing nerve structures and blood vessels.
- In 2022, Stryker received FDA clearance for its SureView NIR Imaging System, designed for use in minimally invasive surgical procedures. The system incorporates NIR technology to enhance visualization of blood flow and perfusion during surgery.
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Top 12 Key Players from the Near Infrared Imaging Market:
- Quest Medical Imaging B.V.
- Stryker
- KARL STORZ SE & Co. KG
- Olympus
- Hamamatsu Photonics K.K.
- Mizuho Medical Co, Ltd.
- Shimadzu Corporation
- Leica Microsystems
- Medtronic
- PerkinElmer, Inc.
- Carl Zeiss Meditec
- Fluoptics
Key Segments of the Near Infrared Imaging Market:
By Product Type:
- Devices
- Near-infrared Fluorescence Imaging Systems
- Near-infrared Fluorescence & Bioluminescence Imaging Systems
- Reagents
- Indocyanine Green (ICG)
- Other Reagents
By Application:
- Preclinical Imaging
- Cancer Surgeries
- Gastrointestinal Surgeries
- Cardiovascular Surgeries
- Plastic/Reconstructive Surgeries
- Other Applications
By End Use:
- Hospitals & Clinics
- Pharmaceutical & Biotechnology Companies
- Research Laboratories
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asias
- Oceania
- Middle East and Africa (MEA)
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Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
Have a Look at Related Reports Covered in the Near Infrared Imaging Market:
- Optical Imaging Market is anticipated to rise at a stable CAGR of 10.8% during the forecast period.
- Nuclear Imaging Devices Market is likely to record a CAGR of 5% during the forecast period, up from US$ 2.6 Bn in 2021 to reach a valuation of US$ 3.4 Bn by 2024.
- Specific Imaging Solution Market enjoys a valuation of US$ 380.8 Million in 2022, and it is further projected to expand at a CAGR of 6.5% over the forecasted years.
- Molecular Imaging Market is expected to secure US$ 5,437.2 million in 2023. During the forecast period, the market is projected to exhibit a CAGR of 11.0% while garnering US$ 15,457.48 million.
- Infrared Heating Pad Markets Increasing adoption of molecular imaging for new applications, ongoing development and innovation in molecular imaging technologies, and developing economies are likely to provide significant opportunities for growth in the market in the coming time.
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