Global Near Infrared Imaging Market is Expected to Reach USD 1,065.8 Million by 2025 : Fior Markets

Near Infrared Imaging Market by Product (Devices, Reagents), End User (Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Others), Application, Region Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025

| Source: Fior Markets Fior Markets

New Jersey, NJ, Aug. 29, 2019 (GLOBE NEWSWIRE) -- Higher adoption of the NIR imaging as it minimises the radiation risk increase in R&D activities with the increasing IT solutions are the factors fuelling global near infrared imaging market. Rise in number of target diseases has also led to increase in number of global surgical techniques which includes NIR imaging. The global near infrared imaging market is expected to grow from USD 342.4 Million in 2017 to USD 1,065.8 Million by 2025, at a CAGR of 15.3% during the forecast period 2018-2025, according to the new report published by Fior Markets.

Near infrared imaging is defined as a non-invasive imaging technique which deploys non-ionizing rays to detect the amount of haemoglobin present in brain,body tissues and muscles. This technique helps the clinicians to identify brain injuries and disorders, diagnose breast cancer, alzheimer’s disease, depression and schizophrenia. It is less harmful to the patients and provides better resolution for differentiation of soft tissues from tumors. It helps in measuring and visualizing both the oxygenated and deoxygenated haemoglobin concentrations and provides alternate solutions to cure any injury or disease. For instance, in 2018, Medtronic acquired VisionSense, an Israel-based company engaged in the development of imaging and visualization solutions for minimally invasive surgeries which helps the company to gain access to VisionSense’s near-infrared imaging devices. There is a rise in demand of near infrared (NIR) imaging around the globe, and is replacing thermal or far-infrared (FIR) vision for night vision. NIR cameras can detect the wavelengths of light directly adjacent to the visible light spectrum. NIR cameras can detect photons like a camera in the visible light spectrum, just at a different wavelength which FIR can’t detect. Besides, NIR spectrum has actually more detectable photons at night, which makes NIR cameras so valuable for night vision.

Higher adoption of the NIR imaging as it minimizes the radiation risk is one of the driving force. Also, NIR Imaging proves to be more beneficial over conventional visualization method and rise in R&D activities with the increasing IT solutions have also led to the growth of the market. But it involves a long process in approval which limits the obtainability of targeted fluorophores, this may hamper the growth of the market. However, it has a better scope of growth in emerging economies which should drive the industry growth in the coming years.

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Key players operating in the global Near infrared imaging market are Bruker , Hamamatsu Photonics K.K., LI-COR, Inc., Miltenyi Biotec , MIZUHO Corporation, PerkinElmer Inc., NOVADAQ Technologies Inc., Thermo Fisher Scientific Inc., FLIR® Systems, Inc., Fluke, Sensors Unlimited, Leonardo DRS, Raptor Photonics, C-THERMAL and Opgal among others.

  • The leading organizations are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share. For instance, in October 2017, Novadaq Technologies Inc. launched a pinpoint invasive imaging system that designed to perform white light bronchoscopy, autofluorescence and narrow band Imaging. It is effective in detection and localization of central airways cancer through white light bronchoscopy.
  • The leading organizations are working on technologies and software to come up with new product to lead the NIR imaging market. For instance Thermo Fischer Scientific are working on software for NIR Imaging Product. Some of the products are:- TQ Analyst Pro Edition Software, ValPro System Qualification Software for NIR Analyzers

The devices segment is dominating the market with the highest share 60.60% in 2017.

The product segment is classified into devices and reagents. The devices segment is dominating the near infrared imaging market and valued around 60.60% of market share in 2017. Increasing number of cancer cases and expanding research activities on cancer have derived the utility of the technique.

The hospitals & clinics segment valued around USD 163.66 Billion in 2017.

End user segment is divided into segments such as hospitals & clinics, pharmaceutical & biotechnology companies and research laboratories. The hospitals & clinics segment is dominating the market with the highest share in 2017. This technique is majorly used in hospitals to identify the concentration of haemoglobin in brain. It helps to detect various brain injuries, breast cancer, alzheimer’s disease, depression and schizophrenia so as to find out appropriate alternative to treat them.

Cancer surgeries segment is expected to grow at the highest CAGR of 18.1% during the forecast period

Application segment includes preclinical imaging, cancer surgeries, gastrointestinal surgeries, cardiovascular surgeries, plastic/reconstructive surgeries and other application. The cancer surgeries segment is expected to grow at the highest CAGR of 18.1% during the forecast period due to rising number of cancer cases registered across the globe.

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Regional Segment Analysis of the Near Infrared Imaging Market

  • North America (U.S. , Canada, Mexico)
  • Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
  • Asia-Pacific (China, Japan India, Rest of APAC)
  • South America (Brazil and Rest of South America)
  • Middle East and Africa (UAE, South Africa, Rest of MEA)

The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America region dominated the global Near Infrared Imaging market with USD 137.98 Million in 2017 where as the Asia Pacific rapidly growing region in the market. North America is dominating the market as the market is highly affected by healthcare spending, rising geriatric population, rising prevalence of target diseases, increasing number of cosmetic surgeries, and the rapid implementation of technologically advanced imaging systems which have, in turn, led to increase in market growth. Asia- Pacific is rapidly growing region owing to increase in the aging population and increasing prevalence of disorders which are driving the demand for imaging technologies.

About the report:

The global Near Infrared Imaging Market is analysed on the basis of value (USD Million). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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