Near Infrared Imaging Market Overview
Near infrared imaging can be defined as a type of non-invasive imaging technique, which uses the near-infrared radiations and is used to probe the oxygenation and concentration of hemoglobin in the muscle, brain, and other tissues. This procedure is also used to identify changes, which is caused by brain injury, activity, or disease. It also finds application in diagnosing Alzheimer’s disease, breast cancer, schizophrenia, and depression. As this technique provides improved resolution for differentiation of soft tissues from tumors and less harmful, it is advantageous over other imaging procedures. Global near infrared imaging market, as per a report by Market Research Future (MRFR) is touted to register a CAGR of 12.6% during the forecast period (2018–2023).
Rising geriatric population is considered one of the prime factors propelling the near infrared imaging market growth worldwide. Thus, reconstructive procedures will elevate the scope of the market in the long run. The surging number of bone grafting, skin grafting, and transplant are likely to provide impetus to the market. Moreover, low risk of radiation from infrared imaging will push the market to grow substantially. The increasing number of surgical procedures is expected to boost the demand for near infrared imaging. The rising occurrence of cancer will promote the market growth in the next couple of years.
On the contrary, the dearth of skilled professionals in order to operate the machines is estimated to deter the market growth in the foreseeable future.
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Global Near Infrared Imaging Market: Segmental Analysis
The near infrared imaging market has been segmented on the basis of type, sample type, and end user.
By type, the market constitutes of automated devices and manual devices.
The sample type comprises plasma, blood, whole blood & red blood cells, stem cells, embryos, platelets, semen, ovum, and others.
The end users comprise hospitals & diagnostic laboratories, blood banks & transfusion centers, biotechnology & pharmaceutical companies, research & academic institutes, and others. Of these, the hospitals & diagnostic laboratories are anticipated to garner the major share owing to the rising cases of cancer and surging number of reconstructive and plastic surgeries performed in hospitals & diagnostic laboratories.
Geographically, the near infrared imaging market spans across Europe, the Americas, Asia Pacific, and the Middle East & Africa.
Considering the global scenario, the Americas is predicted to command the largest share and retain its dominance in the coming years, mainly due to the high domestic income of the population in the region. The existence of key market players is considered to be a major factor in encouraging the regional market’s growth. In this region, North America is considered to be the major revenue-generating region and the growth is majorly driven by the increasing healthcare spending, surging geriatric population, and soaring number of cosmetic surgeries. Moreover, the rapid adoption of advanced imaging systems and surging cases of target diseases will favor the regional market growth.
Europe has managed to seize the second-largest share globally, and the market’s growth can be credited to the existence of strong research and academic base, coupled with the availability of funding for research in the countries of Europe. The European Research Council, for instance, offer grants for scientific and technological research, which is conducted within the EU.
Meanwhile, the Asia Pacific is expected to expand at the fastest rate due to the rising government focus on biotechnology and biomedical sector. Also, the rising number of the target population in the region has promoted the market growth. The presence of huge patient population and increasing healthcare expenditure are likely to encourage the market growth in the coming years. Moreover, the constantly evolving life science sector, especially in economies like China, India, Malaysia, and others are expected to promote the regional market growth.
September 2019: A team of researchers from MIT, Harvard, and other nearby hospitals has come up with an objective method of measuring the pain that an individual experience using a non-invasive imaging procedure. The technology measures the amount of oxygenated hemoglobin that indicates the underlying neural activity. Sensor is placed on the forehead in order to record the activity.
The top players operating in the near infrared imaging market include Li-Cor, Inc. (US), PerkinElmer, Inc. (US), Karl Storz Se & Co. Kg (Germany), Stryker Corporation (US), Leica Microsystems (Germany), Carl Zeiss Meditec AG (Germany), Hamamatsu Photonics K.K., (Japan), Medtronic (Ireland), Shimadzu Corporation (Japan), Olympus Corporation (Japan), Mizuho Medical Co., Ltd. (Japan), Quest Medical Imaging B.V. (the Netherlands), and others.
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