Near Infrared Imaging Market (By Product: Devices, Reagents; By Application: Preclinical Imaging, Cancer Surgeries, Gastrointestinal Surgeries, Cardiovascular Surgeries, Plastic/Reconstructive Surgeries, Other Applications; By End-user: Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Research Laboratories) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030

Published Date : Aug 2021 | No. of Pages : 250 Pages | Category : Healthcare

The global Near Infrared Imaging market size is expected to be worth around US$ 473.10 million by 2030, according to a new report by Vision Research Reports.

The global Near Infrared Imaging market size was valued at US$ 280.05 million in 2020 and is anticipated to grow at a CAGR of 10.6% during forecast period 2021 to 2030.

Growth Factors

The growing use of near-infrared imaging due to advantages such as minimally invasiveness and high efficiency in diagnosing various conditions is anticipated to drive the near-infrared imaging market significantly during the forecast period.

Growing incidences of chronic disorders, especially among the geriatric population is fueling the near infrared imaging market. Alzheimer’s disease, dementia, arthritis, chronic kidney disease, and diabetes, are some of the commonly prevalent diseases that require near infrared imaging for better diagnosis and further decision making for effective treatment.

Expanding applications of the NIR technique in early diagnosis of various neurological conditions is expected to play a significant role in overall market growth. As per National Research University’s Higher School of Economics, neurological disorders are one of the leading causes of disability and death today. They were reported as the leading cause group of Disability Adjusted Life Years, which comprised 16.8% global deaths.

Report Highlights

By product, the near-infrared imaging market is categorized into devices and reagents. The devices segment is further categorized into near-infrared fluorescence & bioluminescence imaging systems and near-infrared fluorescence imaging systems. The reagents segment is also categorized as Indocyanine green (ICG) and other reagents. Devices segment dominated the market in 2020 and is expected to dominate the market in the future as well, owing to the introduction of advanced systems.

The reagents segment is expected to grow considerably during the forecast period owing to benefits offered by Indocyanine green (ICG). Indocyanine green offers real-time angiographic images during brain tumor or vascular surgery. Moreover, it is today increasingly being used for spine surgery. Hence, growing applications of ICG along with its advantages are the major drivers of the segment.

By application, the near-infrared imaging market is categorized as preclinical imaging, cancer, gastrointestinal, cardiovascular, plastic/reconstructive surgeries, and other applications. Cancer surgeries segment is predicted to grow significantly in the forthcoming years owing to the increasing prevalence of cancer on a global scale. Especially in countries such as Australia within the Asia Pacific region, where cancer rate is expected to rise at 483 new cases per 100,000 population.

Near-infrared imaging offers various advantages in  such as high spatial resolution, real-time display, and through molecular reporting with multiplexed use of fluorescent probes, and portability. Especially for gynecological cancer patients, near-infrared imaging with the help of sentinel nodes detection is gaining significant popularity. It efficiently identifies solid tumors, such as vulvar cancer, breast cancer, and melanoma. Moreover, it is increasingly preferred for cervical and endometrial cancer.

The cardiovascular surgeries segment is also expected to grow considerably soon owing to the high prevalence of the disorder, especially in the emerging economies. This can be attributed to the obesity issues, lack of physical exercise, smoking and other bad habits, unhealthy dietary habits, and more. Hence, rising incidences of heart diseases may increase the adoption of NIR imaging in surgeries.

Hospitals & clinics segment captured the largest market share in 2020 and is expected to lead in the future as well, owing to an increase in the number of admissions of cancer patients in clinics and hospitals and well-established healthcare facilities in developed countries.

The potential application of near-infrared imaging is still being studied in research laboratories. An increasing number of and their positive results are the factors expected to boost the growth research laboratory segment during the forecast period.

North America dominated the market in 2018 and is expected to lead the market in the future as well owing to the high disposable income of consumers, speedy adoption of technologically advanced medical devices, and diagnostic techniques. Rise in numbers of cosmetic and reconstructive surgeries in the region due to growing awareness and increased spending power, and growing geriatric population prone to various lifestyle associated chronic conditions are few other drivers of the near-infrared imaging market.

Some of the prominent players in the near-infrared imaging market include Quest Medical Imaging B.V., Stryker, KARL STORZ SE & Co. KG, Olympus, Hamamatsu Photonics K.K, Mizuho Medical Co, Ltd., Shimadzu Corporation, Leica Microsystems, Visionsense, PerkinElmer, Inc., Carl Zeiss Meditec AGLI-COR, Inc., Fluoptics, and SurgVision. These players are focusing on growth strategies, such as new product launches, expansion, collaborations, partnerships, and acquisitions.

KPM Analytics, provider of advanced instrumentation solutions successfully acquired Sensortech Systems, Inc. The acquisition is aimed at improving market share with an impeccable NIR experts group to offer quality solutions to customers, worldwide. Sensortech Systems, Inc., a market leader in innovative sensor components sees this acquisition as a great opportunity, especially to add the radiofrequency capabilities in the forthcoming technologies and providing superior products to the patients.

Key Players

  • Quest Medical Imaging B.V.
  • Stryker
  • Olympus
  • Hamamatsu Photonics K.K
  • Mizuho Medical Co, Ltd.
  • Shimadzu Corporation
  • Leica Microsystems
  • Visionsense
  • PerkinElmer, Inc.
  • Carl Zeiss Meditec AGLI-COR, Inc.
  • Fluoptics
  • SurgVision

Market Segmentation

  • Product Outlook 
    • Devices
      • Near-Infrared Fluorescence Imaging Systems
      • Near-Infrared Fluorescence & Bioluminescence Imaging Systems          
    • Reagents
      • Indocyanine Green (ICG)
      • Other Reagents 
  • Application Outlook
    • Preclinical Imaging
    • Cancer Surgeries
    • Gastrointestinal Surgeries
    • Cardiovascular Surgeries
    • Plastic/Reconstructive Surgeries
    • Other Applications
  • End-user Type Outlook
    • Hospitals & Clinics
    • Pharmaceutical & Biotechnology Companies
    • Research Laboratories
  • Regional Outlook 
    • North America
      • The U.S.
      • Canada
    • Europe
      • UK
      • Germany
      • France
      • Spain
      • Italy
    • Asia Pacific
      • Japan
      • China
      • India
      • Thailand
      • South Korea
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Colombia
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE

The Near Infrared Imaging market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Near Infrared Imaging market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Near Infrared Imaging market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Near Infrared Imaging market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Near Infrared Imaging market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Near Infrared Imaging capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Near Infrared Imaging by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Near Infrared Imaging market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Near Infrared Imaging market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Near Infrared Imaging market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Near Infrared Imaging industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Near Infrared Imaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Near Infrared Imaging market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Near Infrared Imaging market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Near Infrared Imaging market. These factors have benefited the growth of the global market for Near Infrared Imaging. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Near Infrared Imaging. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Near Infrared Imaging are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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