The global near-infrared imaging market size was valued at USD 271.0 million in 2018 and is expected to grow at a compound annual growth rate CAGR of 4.1% from 2019 to 2026. An increasing number of surgical procedures worldwide due to the high prevalence of chronic lifestyle associated diseases is majorly driving the near-infrared imaging market. The growing prevalence of cardiovascular diseases, gastrointestinal diseases, neurovascular diseases, and cancer is expected to drive the near-infrared imaging market. According to WHO, cancer is one of the leading causes of death, presenting a rise of 18.1 million new cases in 2018 and approximately 9.6 million deaths in the same year. Unavailability of effective pharmaceutical treatment and growing preference of minimally invasive surgical procedures are the factors expected to drive the market.
Advantages provided by the NIR technique including minimal invasiveness and deep tissue imaging using the non-non-ionizing method are expected to strengthen its applications in operating rooms as well as emergency departments. NIR integrated with nanoparticle (NP) based NIR contrast agent offers resistance to rapid photo-bleaching and is stable to the organic counterparts. These advantages are expected to broaden the applications of near-infrared imaging with nanoparticles.
Growing advancements in small-molecule near-IR probe domain for bioimaging is expected to enhance its usage in bioimaging. The advent of new contrast agents has amplified the potential of NIR bioimaging for real-time vascular visualization and deep tissue diagnostics for ongoing surgical assistance. The development of new NIR contrast agents has aided the bioimaging of numerous targets with advantages, such as low cytotoxicity, structural tunability, and good cell permeability.
Near-infrared imaging has a wide range of applications including physiological diagnostics and study of pulse oximetry, blood sugar, sports medicine, urology, and neurology. Besides, there are more than 250 clinical trials to explore potential applications of this technique in other applications. Early detection of Alzheimer’s disease with the help of non-invasive near-infrared spectroscopy is expected to have a significant impact on the usage of the NIR technique in neurology. Functional near-infrared spectroscopy is integrated with optical imaging technology and is increasingly used in the neuroimaging domain.
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 2018 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 cancer diagnostics, 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 2018 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 clinical trials and their positive results are the factors expected to boost the growth research laboratory segment during the forecast period.
The pharmaceutical and biotechnology companies segment is also anticipated to rise substantially owing to the increasing number of in-house research activities and development activities. NIR is widely used in preclinical research activities and drug discovery processes. Moreover, growing funding for R&D activities for cancer is expected to fuel the segment growth in 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.
The Asia Pacific is also expected to hold a considerable share of the market owing to growing cardiovascular disorders, increasing population, and growing medical tourism that offers opportunities to the industry players to expand their business in the developing regions. Also, improving healthcare facilities in the developing economies is fueling 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.
On May 15, 2019, 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.
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.
On May 15, 2019, 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. 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
SurgVision
Report Attribute |
Details |
The market size value in 2020 |
USD 293.68 million |
The revenue forecast in 2026 |
USD 373.74 million |
Growth Rate |
CAGR of 4.1% from 2019 to 2025 |
The base year for estimation |
2018 |
Historical data |
2015 - 2017 |
Forecast period |
2019 - 2026 |
Quantitative units |
Revenue in USD million and CAGR from 2019 to 2026 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Product, application, end-use, region |
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
Country scope |
U.S.; Canada; UK; Germany; France; Italy; Spain; Japan; China; India; Thailand; South Korea; Brazil; Mexico; Argentina; Colombia; South Africa; Saudi Arabia; UAE |
Key companies profiled |
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; SurgVision |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2015 to 2026. For this study, Grand View Research has segmented the global near-infrared imaging market report based on product, application, end-use, and region:
Product Outlook (Revenue, USD Million, 2015 - 2026)
Devices
Near-Infrared Fluorescence Imaging Systems
Near-Infrared Fluorescence & Bioluminescence Imaging Systems
Reagents
Indocyanine Green (ICG)
Other Reagents
Application Outlook (Revenue, USD Million, 2015 - 2026)
Preclinical Imaging
Cancer Surgeries
Gastrointestinal Surgeries
Cardiovascular Surgeries
Plastic/Reconstructive Surgeries
Other Applications
End-user Type Outlook (Revenue, USD Million, 2015 - 2026)
Hospitals & Clinics
Pharmaceutical & Biotechnology Companies
Research Laboratories
Regional Outlook (Revenue, USD Million, 2015 - 2026)
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
b. The global near infrared imaging market size was estimated at USD 282.11 million in 2019 and is expected to reach USD 293.68 million in 2020.
b. The global near infrared imaging market is expected to grow at a compound annual growth rate of 4.1% from 2019 to 2026 to reach USD 373.74 million by 2026.
b. Reagents segment dominated the near infrared imaging market with a share of 54% in 2019. This is attributable to benefits offered by Indocyanine green (ICG).
b. Some key players operating 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.
b. Key factors that are driving the market growth include increasing number of surgical procedures worldwide due to high prevalence of lifestyle associated chronic diseases and technological advancement.
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With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.