Near-Infrared Imaging Market, Revenue Growth, Key Factors, Major Companies, Forecast To 2030 from ashwini57sharma's blog

The Near-Infrared Imaging industry research report studies the trade extensively w.r.t company definition, Near-Infrared Imagingmarket growth factors, market methods, challenges and latest developments in Near-Infrared Imaging market across the world mainly focused during the Covid-19 Pandemic.

The new report titled ‘Global Near-Infrared Imaging Market’, published by Emergen Research, is methodically curated by our team of analysts, keeping readers’ understanding in mind, and includes a wide-ranging database of industry distribution. The report takes a closer look at the historical and current market scenarios to accurately predict the global Near-Infrared Imaging market outlook over the forecast duration.

The Global Near Infrared Imaging Market size reached USD 950.1 Million in 2021, and is expected to register a CAGR of 10.1% during the forecast period, according to latest analysis by Emergen Research. Near infrared imaging is a diagnostic tool used for tissue imaging as it is minimally invasive and non-ionizing. It mainly uses near-infrared radiations within a range of 780 nm to 2500 nm. This technique is used to check the concentration and oxygenation of hemoglobin in the brain, muscles, and other tissues. It provides better imaging clarity than conventional methods. This technique is also widely used in applications, such as cardiovascular surgeries, cancer surgeries, plastic surgeries, and preclinical imaging.

Health concerns among geriatric population has been high, which will subsequently result in increasing use of near infrared imaging solutions. Additionally, increasing health awareness regarding the benefits of surgical treatments in several medical conditions at early or required stages is driving adoption of near infrared imaging solutions. Healthcare institutions and diagnostic centers prefer adopting technologically advanced imaging tools with improved and automated features. These factors are expected to create lucrative growth opportunities for manufacturers in the market during the forecast period.

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However, high cost of infrared detectors and availability of alternative imaging techniques are key factors that are expected to hinder the market growth. In addition, approval processes by the U.S. Food and Drug Administration (FDA) for dyeing equipment can be lengthy, which can result in delay of treatment process. The introduction of targeted fluorophores is also restricted as FDA has not granted approval for fluorescence imaging. Moreover, imaging agents have to undergo the same FDA process as the other pharmaceutical drugs, which may take longer time for approval. Due to longer FDA process, fluorescent probe worth nearly USD 150 million are still in the pipeline for approval. These factors are expected to restraint growth of near infrared imaging market during the forecast period.

Leading Players Analyzed in the Report are:

• Olympus Corporation
• Stryker Corporation
• Quest Medical Imaging BV
• Carl Zeiss Meditec AG
• PerkinElmer Inc
• Medtronic PLC
• KARL STORZ SE & Co. KG
• LI-COR Inc.
• Shimadzu Corporation
• Leica Microsystems
• Others

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Some Key Highlights From the Report

• Based on product type, the device segment revenue is expected to record a substantially rapid CAGR of 9.9% during the forecast period due to the launch of near-infrared imaging systems used for surgical procedures by a majority of prominent players in the market. The device segment is further segmented into near-infrared fluorescence imaging systems, near-infrared fluorescence, and bioluminescence imaging systems. The near-infrared fluorescence imaging systems segment is projected to account for largest share in near-infrared imaging market. This is attributed to increasing research activities and various benefits of near-infrared fluorescence imaging systems, such as high image resolution and sensitivity as well as real-time image guidance, during surgeries.
• Based on end-user, the hospitals and clinics segment accounted for largest revenue share of USD 619.48 million in 2021 and is expected to grow at a CAGR of 10.4% over the forecast period. This is attributed to increasing number of cancer patient admissions in hospitals and clinics and well-established healthcare facilities in developed countries.
• North America accounted for largest revenue share of 35.9% in 2021 and is expected to register a growth rate of over 9.4% during the forecast period. This growth is mainly due to high disposable income of consumers, adoption of technologically advanced medical devices, and diagnostic techniques. Increasing number of cancer cases reported in U.S. by American Cancer Society is expected to drive market revenue growth due to rising number of surgical procedures. According to the American Cancer Society, nearly 1.9 million new cancer cases were identified in 2021 in U.S. In addition, surge in number of reconstructive and cosmetic surgeries in the country due to increased spending and awareness regarding early diagnosis is expected to create robust growth opportunities.
• In Asia-Pacific, near infrared imaging market is anticipated to register the fastest CAGR of 11.2% during the forecast period. The presence of developing countries, such as China, India, and Japan, is expected to drive market growth in the region. Due to huge population base with low per capita income in the region, demand for affordable treatment options remains high. Multinational companies are keen to invest in developing countries, such as India and South Korea. Thus, many market players are entering strategic alliances with local players. This is expected to drive growth of near infrared imaging market during the forecast period.
• Key players are adopting growth strategies, such as new product launches, expansion, collaborations, partnerships, and acquisitions, to gain a competitive edge in the market. For instance, on 5 January 2021, KARL STORZ announced the launch of a new system, IMAGE1 S Rubina multimode visualization, with latest advancements in endoscopic imaging. This technology combines 4K resolution with enhanced fluorescence-guided imaging using near-infrared light and indocyanine green dye (NIR/ICG).
• On 28 January 2021, Olympus Corporation announced signing of a definitive agreement to purchase Quest Photonic Devices BV. The deal is valued at USD 60.70 Million and intended to reinforce Olympus Corporation’s surgical endoscopy capabilities, compared to conventional imaging technologies.
• On 13 August 2020, FluoGuide A/S and LI-COR Biosciences signed an agreement to develop uPAR targeted products to guide oncology surgery using LI-COR's proprietary next-generation fluorophore IRDye 800CW.

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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; 2019–2030)
• Devices
1. Near-Infrared Fluorescene Imaging Systems
2. Near-Infrared Fluorescene and Bioluminescene Imaging Systems
• Reagent/Dye

• Application Outlook (Revenue, USD Million; 2019–2030)
• Preclinical Imaging
• Cancer Surgeries
• Gastrointestinal Surgeries
• Cardiovascular Surgeries
• Plastic/Reconstructive Surgeries
• Other Applications

• End-use Outlook (Revenue, USD Million; 2019–2030)
• Hospitals & Clinics
• Research Laboratories
• Other End-users

• Regional Outlook (Revenue, USD Million; 2019–2030)
• North America
1. U.S.
2. Canada
• Europe
1. Germany
2. France
3. U.K.
4. Italy
5. Spain
6. Rest of Europe
• Asia-Pacific
1. China
2. India
3. Japan
4. South Korea
5. Australia
6. Rest of APAC
• Latin America
1. Brazil
2. Mexico
3. Rest of LATAM
• Middle East & Africa
1. Saudi Arabia
2. UAE
3. Africa
4. Rest of MEA

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Key questions answered in the report: 

1. Which are the five top players of the Near Infrared Imaging market?
2. How will the Near Infrared Imaging market change in the next five years?
3. Which product and application will take a lion’s share of the Near Infrared Imaging market?
4. What are the drivers and restraints of the Near Infrared Imaging market?
5. Which regional market will show the highest growth?
6. What will be the CAGR and size of the Near Infrared Imaging market throughout the forecast period?

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