New York, July 12, 2023 (GLOBE NEWSWIRE) -- The global near-infrared fluorescence imaging system market size is projected to expand at ~12% CAGR between 2023 and 2035. The market is expected to garner a revenue of USD 6 billion by the end of 2035, up from a revenue of ~USD 1 billion in the year 2022.The market growth is primarily owed to the increasing number of different types of surgical procedures across the globe. For instance, 311 million major surgeries are performed each year worldwide. Near-infrared (NIR) fluorescence, with light wavelengths between 650 and 950 nm, is generally preferred for in vivo fluorescence imaging owing to its good tissue penetration and low autofluorescence from adjacent tissue.
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NIR fluorescence imaging can be divided into fluorescence reflectance imaging (FRI) and tomographic fluorescence imaging. The advantages of FRI are high spatial resolution, fast real-time display, relatively low cost, portability, and the ability to multiplex multiple colors simultaneously. Some surface NIR fluorescence imaging techniques, such as sentinel node mapping, surgical or endoscopic guidance, and optical mammography with and without fluorescent agents, have already been applied in humans with clinically relevant results. increase. NIR fluorescence imaging is expected to be used in routine clinical practice in the near future. Moreover, multicolor multiplexed fluorescence may offer interesting applications for molecular imaging of human cancers in the clinic, as multiple molecular details about targeted cancers can be obtained simultaneously.
Near-Infrared Fluorescence Imaging System Market: Key Takeaways
- Market in North America to propel the highest growth
- The cancer segment to garner the highest growth
- Market in Asia Pacific to grow at a highest rate
Rapidly Growing Geriatric Population across the Globe to Boost Market Growth
As people age, they experience many different types of health problems, including refractive error, chronic obstructive pulmonary disease, deafness, and others. Therefore, a growing geriatric population is more likely to undergo multiple types of surgical procedures, increasing the demand for near-infrared fluorescence imaging systems. According to data released by the World Health Organization, in the year 2020, the proportion of the population over the age of 60 increased from 1 billion to 1.4 billion. Gastrointestinal disorders affect the digestive tract from the mouth to the anus, causing irritable bowel syndrome, constipation, and bloating. Such conditions require proper treatment. It was observed that by the year 2021, 4 in 10 adults worldwide had severe functional gastrointestinal disorders. Hence, a significant upsurge in gastrointestinal disorders is also estimated to drive the growth of the near-infrared fluorescence (NIRF) imaging system market notably over the forecast period.
Near-Infrared Fluorescence (NIRF) Imaging Systems Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Rapid Adoption of Technologically Advanced Medical Devices to Drive Market Growth in the North American Region
The near-infrared fluorescence imaging system market in the North American region is estimated to garner the largest revenue by the end of 2035. The regional growth can majorly be attributed to the rapid adoption of technologically advanced medical devices, more cancer cases, more surgeries, and higher local disposable income per capita. It has been observed that approximately 41 to 52 million surgical procedures are performed in the United States each year. The near-infrared fluorescence imaging (NIRF) systems is a recently developed clinical technique that transmits near-infrared excitation light to observe blood and lymph flow beneath the tissue surface, giving surgeons a very clear picture of the target tissue. They provide accurate images. Furthermore, the success of near-infrared fluorescence imaging systems in robotic surgery has many advantages, such as increased efficiency and safety, so the regional increase in robotic surgery is also driving demand for these imaging systems in the North American region. Hence, this is also estimated to be a major factor driving the (NIRF) imaging system market in the region.
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Elevating Aged Population to Propel Growth in the Asia Pacific Region
The near-infrared fluorescence imaging system market in the Asia Pacific region is estimated to garner the highest CAGR by the end of 2035. The market growth in this region is mainly owing to the steady increase in the elderly population across the region. Elderly people are more susceptible to disease, which requires a near-infrared fluorescence imaging system to treat. The Asia-Pacific population is aging faster than anywhere else in the world. Sixty percent of the world's total elderly population, that is, 630 million people, reside in the Asia-Pacific region. The region's elderly population is expected to reach 1.3 billion by the year 2050. Moreover, the government's role in raising awareness for the use of near-infrared fluorescence imaging systems is expected to spur market growth in the region. Moreover, an increasing number of cancer patients and increased funding for medical infrastructure are expected to affect the growth of the market in the region.
Near-Infrared Fluorescence Imaging Systems Segmentation by Indication
- Gastrointestinal
- Cardiovascular
- Cancer
- Plastic/Reconstructive Surgeries
- Others
Amongst these five segments, the cancer segment is anticipated to hold the largest share over the forecast period. The growth of the segment can be attributed to the prevalence of many types of cancer increasing worldwide. According to the World Health Organization, cancer is the leading cause of death worldwide. The Southeast Asia region reported about 2.2 million new cases and 1.4 million cancer-related deaths in the year 2020, making it more than 1 in 10 of all deaths in the region. Near-infrared (NIR) fluorescence cancer imaging has emerged as an area of preclinical and clinical application in the clinical management of cancer patients owing to its advantageous properties such as high spatial resolution, portability, real-time viewing, and detailed molecular profiling. It is a growing field that has multiple uses for fluorescent probes. NIR fluorescence imaging can overcome some limitations of conventional imaging modalities and thus may play an important role in cancer imaging when combined with other modalities in clinical settings.
Near-Infrared Fluorescence Imaging System Segmentation by End-User
- Hospitals & Clinics
- Research Labs
- Pharmaceutical Companies
Amongst these three segments, the hospitals and clinics segment is anticipated to hold a significant share over the forecast period. The growth of this segment is majorly driven by increasing cancer cases worldwide and rising healthcare costs globally. For instance, according to the World Bank, global healthcare spending increased from 9.7% in 2018 to 9.83% in 2019. In addition, the increasing number of patients visiting hospitals for diagnosis and the subsequent availability of better reimbursement are several important factors. It is expected to further drive near-infrared fluorescence imaging system market growth during the forecast period. Moreover, the existence of a huge patient pool requiring treatment with near-infrared fluorescence imaging systems is also estimated to be a major factor in boosting the growth of this segment.
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Near-Infrared Fluorescence Imaging System Segmentation by Application
- Preclinical
- Medical
- Clinical Imaging
Near-Infrared Fluorescence Imaging System Segmentation by Light Source
- Light Emitting
- Laser Diodes
- Filtered Lamp Sources
Near-Infrared Fluorescence Imaging System Segmentation by Type
- Portable
- Cart Based
- Others
Few of the well-known market leaders in the global near-infrared fluorescence (NIRF) imaging system market that are profiled by Research Nester are Agilent Technologies, Inc., Thermo Fisher Scientific Holdings, Inc., Medtronic Limited, Teledyne FLIR LLC, PerkinElmer, Inc., Shimadzu Corporation, Carl Zeiss Meditec AG, JASCO, and other key market players.
Recent Development in the Near-Infrared Fluorescence Imaging System Market
- PerkinElmer, Inc. announced the launch of a preclinical ultrasound imaging system designed to facilitate non-invasive research and drug development studies in cancer, liver disease, cardiology, and more.
- Medtronic plc announced that the FDA has granted his 510(k) clearance to PillCam Small Bowel 3 @HOME system for remote endoscopic procedures. This system offers a telemedicine option for direct visualization and monitoring of the small intestine.
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