The global near infrared imaging market will grow at a compound annual growth rate (CAGR) of more than 5% during the forecast period from 2021-2030.
The near infrared imaging method uses light between 650 nm and 950 nm to determine the body's health and the presence of disease. An efficient and nonionizing way of imaging tissue with minimally invasive methods is available with this device. Near infrared imaging does not absorb well by blood or water, which compose tissues. Thus, it can illuminate internal structures. The technique is advantageous over other methods because it allows better resolution and is less harmful to the patients.
Factors Affecting
Worldwide, there has been a significant increase in various cancer surgeries, gastrointestinal surgeries, cardiovascular surgeries, and plastic and reconstructive surgeries. In addition, an increase in target diseases such as lung cancer, breast cancer, colon cancer, and prostate cancer. The rise in chronic diseases and neurological disorders is driving the market growth for near-infrared imaging.
The surge in adoption of NIR imaging across the globe, the rise in the geriatric population, and health awareness in the emerging economies are the prime factors that boost the growth of the global near infrared imaging market.
The high availability of other alternative imaging techniques and the high price of infrared detectors restrict the market growth.
Impact Analysis of COVID-19
Across the globe, outbreaks of COVID-19 have affected every aspect of the medical device industry, including interventional neurology equipment. Despite the emergency, the number of hospital visits has also decreased significantly over the past six months. However, despite the COVID-19 epidemic, the management of surgical procedures has varied considerably. In order to avoid contact with COVID-19 patients and healthcare professionals, patients avoid healthcare institutions. In a number of acute and critical conditions, such as stroke, myocardial infarction, and cancer, mortality rates have dropped. Governments and authorities aim to ensure that patient resources for COVID-19 are available, which will adversely affect the near-infrared imaging market. As a result of lockdowns, manufacturing facilities have shut down, disrupting supply chains and limiting the number of clinical trial participants, which further impacts the growth of the global near-infrared imaging market.
Regional Overview
The North American region accounted for a large share of the near infrared imaging market and will continue to do so due to a rise in surgical procedures. In addition, easy access to NIR imaging systems, the strong presence of key market players, and the rapid adoption of NIR imaging systems drive growth in this area. Due to an increase in awareness of cancer early detection, Asia-Pacific has the highest growth potential. Other factors that drive the market's growth include a large patient base and an increase in healthcare spending in the region. Offering lucrative opportunities to grow their businesses, image providers in emerging economies can expand their business. Life science advances continue to drive the market in developing economies like India, China, and Malaysia.
Leading Companies
The leading companies in the global near infrared imaging market are:
Scope of the Report
The global near infrared imaging market segmentation focuses on Product, Application, Indication, End-User, and Geography.
Segmentation based on Product
Segmentation based on Application
Segmentation based on Indication
Segmentation based on End-User
Segmentation based on Geography
