Global Hyperspectral Imaging Market to Surpass US$ 892.4 Million by 2030, Says Coherent Market Insights (CMI)

Seattle, Aug. 04, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global hyperspectral imaging market is estimated to be valued at US$ 287.9 Million in 2022 and is expected to exhibit a CAGR of 15.2% during the forecast period (2022-2030).

Key trends in market include increasing new product launches, partnership among the market players, etc.

Market players are launching new products with new improved version, in order to increase the company portfolio, and is further expected to drive growth of the global hyperspectral imaging market, over the forecast period. For instance, in November 2020, XIMEA, a scientific grade and industrial camera developer and Imec, a digital electronic company had together developed a better version of xiSpec hyperspectral cameras. The camera housing and the bandpass filters have been improved to enhance the spectral performance of the cameras while preserving the previous dimensions of only 26.4 x 26.4 x 32 mm and a flyweight of just 32g.

Market player are involved in inorganic growth activities such as partnership for the development of new products, to expand their product portfolio, which is expected to drive growth of market over the forecast period. For Instance, in November 2021, OmniVision Technologies Inc., a developer of digital imaging product and Diaspective Vision GmbH, a medical technology company announced partnership to create a new endoscope-compatible medical hyperspectral imaging camera based on unique multispectral imaging technology, the MALYNA system. The MALYNA, also known as the fifth dimension of medical imaging, is slated to replace CT, MRI, and ultrasound as a common diagnostic tool.

Advantages of hyperspectral imaging in pharmaceutical industries is expected to drive the growth of global hyperspectral imaging market. For instance, according to the article published in Elsevier journal in 2019, various hyperspectral imaging methods can provide in-depth understanding of complicated pharmaceutical products including both phenomena observed using off-line devices used in laboratories and an increasing number of tools capable of fulfilling process analytical measurement scenarios. Hyperspectral imaging is becoming an important part of drug development process. In future hyperspectral imaging will be a key driver of the continuously running production systems.

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Key Market Takeaways:

Increasing application of hyperspectral imaging for clinical research is expected to drive the growth of global hyperspectral imaging market. For instance, in July 2021, according to article published in SAGE publication, hyperspectral imaging may improve the identification of carcinomas, classification of various tissue structures and the evaluation of tissue blood flow. Hyperspectral imaging examines deeper tissue layers than other optical imaging techniques. Hyperspectral imaging can be considered as ‘next generation imaging’ for future clinical research.

Among regions, North America is expected to hold a dominant position in the global hyperspectral imaging market over the forecast period, owing to increasing in new product launch. For instance, on August 27, 2021, Resonon Inc., an industrial equipment supplier company releases ultraviolet hyperspectral camera named Pika NUV2. It is a line scan imaging spectrometer with a spectral range of 330–800 nm. In pharma industries, drugs can have exceptional ultraviolet marks which the NUV2 can measure for arranging or quality control purposes.

Competitive Landscape:

Key players operating in the global hyperspectral imaging market include Brandywine, ClydeHSI, Corning Incorporated, Cubert, CytoViva, Inc, Diaspective Vision GmbH, Headwall Photonics Inc., Imec, Inno-Spec GmbH, Norsk Elektro Optikk A/S, Orbital Sidekick, Photon etc., Resonon Inc., Specim Spectral Imaging Ltd., Surface Optics Corp, Ximea

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Market Segmentation:

  • Global Hyperspectral Imaging Market, By Type
    • Hyperspectral Imaging Cameras
    • Accessories
  • Global Hyperspectral Imaging Market, By Application
    • Disease Diagnosis
    • Image-Guided Surgery
    • Cancer Detection
    • Pharmaceuticals
    • Others (Eye Problem Detection, Assessing Tissue Perfusion, Evaluation Teeth Structure)
  • Global Hyperspectral Imaging Market, By End User
    • Hospitals
    • Diagnostic Centers
    • Research Centers
  • Global Hyperspectral Imaging Market, By Region:
    • North America
      • By Country:
        • U.S.
        • Canada
    • Latin America
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest Of Latin America
    • Europe
      • By Country:
        • U.K.
        • Germany
        • Italy
        • Spain
        • France
        • Russia
        • Rest Of Europe
    • Asia Pacific
      • By Country:
        • Australia
        • India
        • China
        • Japan
        • Asean
        • South Korea
        • Rest Of Asia Pacific
    • Middle East
      • By Country:
        • Gcc
        • Israel
        • Rest Of Middle East
    • Africa
      • By Country/Region:
        • South Africa
        • Central Africa
        • North Africa

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About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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