Near-Infrared Imaging Market By Product (Devices, Probe/Dye), Application (Preclinical Imaging, Clinical Imaging, Medical Imaging), End-Users (Hospitals & Clinics, Pharmaceutical and Biotechnology Companies, Research Laboratories), & Region for 2024-2031
Report ID: 7573|No. of Pages: 202
Near-Infrared Imaging Market By Product (Devices, Probe/Dye), Application (Preclinical Imaging, Clinical Imaging, Medical Imaging), End-Users (Hospitals & Clinics, Pharmaceutical and Biotechnology Companies, Research Laboratories), & Region for 2024-2031
Near-Infrared Imaging Market Valuation – 2024-2031
The expanding application of near-infrared (NIR) imaging in medical diagnostics and surgical procedures is driving the market’s growth. NIR imaging technology provides enormous benefits in terms of non-invasive, real-time observation of tissues, blood vessels, and malignancies making it a must-have tool in modern healthcare. One of the primary areas where NIR imaging is in high demand is oncology where it is utilized to improve tumor localization and margin assessment during procedures by enabling the market to surpass a revenue of USD 1.00 Billion in 2024 and reach a valuation of around USD 2.45 Billion by 2031.
The need for NIR imaging is also being spurred by advances in the production of NIR-compatible dyes and contrast agents which improve the technology’s imaging capabilities. These advancements have broadened the scope of NIR imaging beyond oncology to encompass applications in neurology, ophthalmology, and gastrointestinal. In neurology, for example, NIR imaging is being investigated for its use in diagnosing and monitoring brain lesions as well as directing neurosurgical procedures by enabling the market to grow at a CAGR of 11.87% from 2024 to 2031.
Near-Infrared Imaging Market: Definition/ Overview
Near-infrared imaging (NIR) is a medical imaging technology that uses near-infrared light with wavelengths ranging from 700 to 900 nanometers to see and evaluate biological tissues. Unlike visible light, which is easily absorbed and scattered by tissues, near-infrared light can travel deeper into the body allowing for the viewing of structures beneath the skin’s surface. This capacity makes NIR imaging extremely helpful in medical diagnostics.
It is a strong and adaptable technology that is widely employed in a variety of medical and scientific applications due to its ability to penetrate tissues and provide comprehensive insights that traditional imaging techniques cannot offer. One of the most common applications for NIR imaging is in oncology where it is used to detect and allocate malignancies during surgical procedures.
Near-infrared (NIR) imaging has the potential to improve medical diagnostics and surgical procedures, expanding its applicability across a wide range of healthcare sectors. NIR imaging’s capacity to penetrate tissues and generate real-time, high-resolution images is especially useful in oncological procedures where accurate tumor margins are critical for optimal treatment.
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Will the Increasing Number of Surgical Procedures Drive the Near-Infrared Imaging Market?
The increasing number of surgical procedures worldwide is a crucial driver for the near-infrared imaging market. Several factors contribute to this trend including an aging population, an increase in the prevalence of chronic diseases, and technological breakthroughs in surgery. According to the World Health Organization (WHO), the global volume of surgery is continually increasing with an estimated 234 million major surgical procedures conducted each year. This amount is a significant increase over prior years and is anticipated to continue climbing. In the United States, the Centers for Disease Control and Prevention (CDC) reported that around 48 million surgical and nonsurgical treatments were conducted in 2018.
This technique is especially useful in minimally invasive operations which have witnessed a major increase in recent years. According to a report published in the Journal of the American Medical Association (JAMA), the number of minimally invasive surgeries in the United States increased by 54% from 2008 to 2018. The use of near-infrared imaging in these procedures has been found to decrease problems while improving patient outcomes. For example, a clinical experiment published in the Annals of Surgery found that using near-infrared imaging during laparoscopic cholecystectomy reduced the rate of bile duct damage by 50% compared to traditional approaches.
Will High Capital and Operational Cost Hamper the Near-Infrared Imaging Market?
High capital and operational costs provide significant difficulties that may stymie the expansion of the near-infrared (NIR) imaging market. The initial cost of acquiring NIR imaging equipment is significant because these devices integrate advanced technologies such as powerful cameras, lasers, and detectors. Healthcare facilities, particularly in underdeveloped countries may struggle to justify these expenses, especially if budget restrictions are an issue. Furthermore, integrating NIR imaging into existing medical processes frequently necessitates infrastructure modifications, medical personnel training, and continuous maintenance all of which increase the overall cost.
Operational costs have an important influence in determining the market’s trajectory. Beyond the initial purchase, NIR imaging systems suffer continuing expenses for maintenance, calibration, and component replacement. The requirement for specialized personnel to run these systems increases the operational strain as training and maintaining competent experts can be expensive. Furthermore, the use of NIR imaging in clinical settings may require the purchase of additional consumables such as contrast agents, raising operational expenses even higher.
Category-Wise Acumens
Will the Increasing Demand for Advanced Imaging Systems Drive Growth in the Product Segment?
Devices are the major product segment owing to the rising demand for improved imaging systems in medical diagnostics and surgical operations. This equipment which includes NIR cameras, scanners, and imaging systems, is critical for detecting objects beneath the skin such as blood arteries, lymph nodes, and cancers. NIR devices’ superior imaging capabilities which provide higher contrast and deeper penetration than conventional imaging modalities have made them essential instruments in a variety of medical specialties including oncology, cardiovascular surgery, and neurology.
The probe/dye portion, while necessary serves as a complement to the devices. NIR imaging uses probes and dyes as contrast agents such as neocyanine green (ICG) to improve the visibility of target tissues or blood flow during imaging. Although probes and dyes are crucial to the effectiveness of NIR imaging operations, their market share is smaller than that of devices. This is primarily because the sale of these consumables is dependent on the number of NIR imaging equipment that are deployed. Furthermore, while probes and dyes are less expensive than devices, they require regular purchasing resulting in a different market dynamic.
Will Increasing Demand for Surgical Procedures Drive the Technology Segment?
The medical imaging sector is the dominating segment owing to the important role that NIR imaging systems play in improving surgical precision and diagnostic accuracy. The rising number of surgical procedures worldwide combined with the growing popularity of elective surgeries such as plastic surgery has resulted in an increased need for improved imaging technology. NIR imaging enables real-time viewing of tissues, blood flow, and other essential anatomical components which is extremely useful during complex surgical procedures. This skill increases the surgeon’s ability to make educated decisions, lowers the risk of complications, and improves patient outcomes.
The growing use of NIR imaging for detecting and diagnosing illnesses such as Alzheimer’s disease strengthens the medical imaging segment’s position. NIR imaging is useful in detecting changes in brain tissue and blood flow patterns associated with neurodegenerative diseases. The technology’s non-invasive nature and ability to generate detailed pictures without the use of contrast chemicals make it an important tool for early detection and monitoring of such disorders.
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Country/Region-wise Acumens
Will the Adoption of Technologically Advanced Medical Devices Drive the Market in the North American Region?
The near-infrared imaging market in Asia Pacific is primarily driven by the United States, followed by Canada. This dominance stems mostly from the region’s advanced healthcare infrastructure, high healthcare spending, and rapid adoption of novel medical technologies.
The adoption of technologically improved medical equipment is a major driver of the near-infrared imaging market in North America. One important factor is the rising prevalence of chronic diseases including cancer which demands new diagnostic and treatment techniques.
According to the American Cancer Society, there will be around 1.9 million new cancer cases diagnosed in the United States in 2022. Near-infrared imaging technology is an important tool in oncology since it helps detect cancer and guide surgeries. The National Institutes of Health (NIH) budget for fiscal year 2022 was USD 45 Billion with a significant amount dedicated to developing and implementing innovative medical technology. This investment promotes medical imaging innovation, particularly near-infrared technology. Furthermore, the FDA’s attempts to streamline the medical device approval process have sped the release of new near-infrared imaging systems to the market.
Will Increasing Knowledge of Early Cancer Screening Process Drive the Market in the Asia Pacific Region?
Asia Pacific’s near-infrared imaging market is expanding rapidly with China and Japan leading the way. This acceleration is essentially the result of these countries’ significant spending on healthcare infrastructure and early cancer detection research. The growing awareness of and emphasis on early cancer screening methods is a major driver of the near-infrared imaging market in Asia Pacific. The World Health Organization (WHO) reports that cancer is the biggest cause of death in the Asia Pacific region, accounting for 4.5 million fatalities in 2019. This startling statistic has pushed governments and healthcare institutions to focus on early detection measures.
The Indian Council of Medical Research (ICMR) has set a target of reducing cancer mortality by 25% by 2025 through improved screening and early detection programs which are likely to increase the use of modern imaging technologies. These endeavors are driving up demand for near-infrared imaging systems that provide high-resolution, non-invasive imaging capabilities that can detect malignant tissues earlier than traditional approaches. Another key driver is the region’s increasing healthcare expenditure and technological improvements. According to the Asian Development Bank, healthcare spending in the Asia Pacific region is expected to reach USD 2.4 Trillion by 2025, with a 6.3% CAGR from 2020.
Competitive Landscape
The Near-Infrared Imaging Market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support. The organizations are focusing on innovating their product line to serve the vast population in diverse regions.
Some of the prominent 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
- Medtronic
- PerkinElmer, Inc.
- Carl Zeiss Meditec
- Fluoptics
Latest Developments
- In Sep 2022, Olympus Corporation released VISERA ELITE III, which combines several imaging tasks into a single system, improving minimally invasive procedures such as laparoscopic cholecystectomy and laparoscopic colectomy. The technology is designed to increase operating room efficiency, improve endoscopic surgery quality, and raise the standard of care.
- In June 2022, Shimadzu introduced the iMScope QT Imaging Mass Microscope, a high-level mass spectrometry imaging analysis tool. The microscope consists of an AP-MALDI ion source, a Q-TOF LCMS-9030, and an optical microscope. This allows molecules to be recognized in a tissue region immediately after microscopy. Combining with the LCMS-9030 aids in acquiring quantitative data and distribution information for full analysis.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2021-2031 |
| Growth Rate | CAGR of ~11.87% from 2024 to 2031 |
| Base Year for Valuation | 2024 |
| Historical Period | 2021-2023 |
| FORECAST PERIOD | 2024-2031 |
| Quantitative Units | Value (USD Billion) |
| Report Coverage | Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis |
| Segments Covered |
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| Regions Covered |
|
| Key Players | Quest Medical Imaging B.V., Stryker, KARL STORZ SE & Co. KG, Olympus, Hamamatsu Photonics K.K, Mizuho Medical Co, Ltd., and Shimadzu Corporation |
| Customization | Report customization along with purchase available upon request |
Near-Infrared Imaging Market, By Category
Product:
- Devices
- Probe/Dye
Application:
- Preclinical Imaging
- Clinical Imaging
- Medical Imaging
End-Users:
- Hospitals & Clinics
- Pharmaceutical and Biotechnology Companies
- Research Laboratories
Region:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
Research Methodology of Verified Market Research:
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Customization of the Report
• In case of any Queries or Customization Requirements please connect with our sales team, who will ensure that your requirements are met.
Frequently Asked Questions
1 INTRODUCTION OF GLOBAL NEAR-INFRARED IMAGING MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
2.1 Data mining
2.2 Secondary research
2.3 Primary research
2.4 Subject matter expert advice
2.5 Quality check
2.6 Final review
2.7 Data triangulation
2.8 Bottom-up approach
2.9 Top-down approach
2.10 Research flow
2.11 Data sources
3 EXECUTIVE SUMMARY
3.1 Overview
3.2 Absolute $ Opportunity
3.3 Market attractiveness
3.4 Future Market Opportunities
4 GLOBAL NEAR-INFRARED IMAGING MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 GLOBAL NEAR-INFRARED IMAGING MARKET, BY PRODUCT
5.1 Overview
5.1 Devices
5.2 Probe/Dye
6 GLOBAL NEAR-INFRARED IMAGING MARKET, BY APPLICATION
6.1 Overview
6.1 Preclinical Imaging
6.2 Clinical Imaging
6.3 Medical Imaging
7 GLOBAL NEAR-INFRARED IMAGING MARKET, BY END-USERS
7.1 Overview
7.1 Hospitals & clinics
7.2 Pharmaceutical and biotechnology companies
7.3 Research laboratories
8 GLOBAL NEAR-INFRARED IMAGING MARKET, BY GEOGRAPHY
8.1 Overview
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 U.K.
8.3.3 France
8.3.4 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 Rest of Asia Pacific
8.5 Rest of the World
8.5.1 Latin America
8.5.2 Middle East and Africa
9 GLOBAL NEAR-INFRARED IMAGING MARKET COMPETITIVE LANDSCAPE
9.1 Overview
9.2 Company Market Ranking
9.3 Key Development Strategies
9.4 Company Regional Footprint
9.5 Company Industry Footprint
9.6 ACE Matrix
10 COMPANY PROFILES
10.1 Stryker
10.1.1 Company Overview
10.1.2 Company Insights
10.1.3 Business Breakdown
10.1.4 Product Benchmarking
10.1.5 Key Developments
10.1.6 Winning Imperatives
10.1.7 Current Focus & Strategies
10.1.8 Threat from Competition
10.1.9 SWOT Analysis
10.2 Hamamatsu Photonics KK
10.2.1 Company Overview
10.2.2 Company Insights
10.2.3 Business Breakdown
10.2.4 Product Benchmarking
10.2.5 Key Developments
10.2.6 Winning Imperatives
10.2.7 Current Focus & Strategies
10.2.8 Threat from Competition
10.2.9 SWOT Analysis
10.3 Shimadzu Corporation
10.3.1 Company Overview
10.3.2 Company Insights
10.3.3 Business Breakdown
10.3.4 Product Benchmarking
10.3.5 Key Developments
10.3.6 Winning Imperatives
10.3.7 Current Focus & Strategies
10.3.8 Threat from Competition
10.3.9 SWOT Analysis
10.4 Olympus Corporation
10.4.1 Company Overview
10.4.2 Company Insights
10.4.3 Business Breakdown
10.4.4 Product Benchmarking
10.4.5 Key Developments
10.4.6 Winning Imperatives
10.4.7 Current Focus & Strategies
10.4.8 Threat from Competition
10.4.9 SWOT Analysis
10.5 PerkinElmer
10.5.1 Company Overview
10.5.2 Company Insights
10.5.3 Business Breakdown
10.5.4 Product Benchmarking
10.5.5 Key Developments
10.5.6 Winning Imperatives
10.5.7 Current Focus & Strategies
10.5.8 Threat from Competition
10.5.9 SWOT Analysis
10.6 LI-COR
10.6.1 Company Overview
10.6.2 Company Insights
10.6.3 Business Breakdown
10.6.4 Product Benchmarking
10.6.5 Key Developments
10.6.6 Winning Imperatives
10.6.7 Current Focus & Strategies
10.6.8 Threat from Competition
10.6.9 SWOT Analysis
10.7 KARL STORZ SE & Co. KG
10.7.1 Company Overview
10.7.2 Company Insights
10.7.3 Business Breakdown
10.7.4 Product Benchmarking
10.7.5 Key Developments
10.7.6 Winning Imperatives
10.7.7 Current Focus & Strategies
10.7.8 Threat from Competition
10.7.9 SWOT Analysis
10.8 Carl Zeiss Meditec AG
10.8.1 Company Overview
10.8.2 Company Insights
10.8.3 Business Breakdown
10.8.4 Product Benchmarking
10.8.5 Key Developments
10.8.6 Winning Imperatives
10.8.7 Current Focus & Strategies
10.8.8 Threat from Competition
10.8.9 SWOT Analysis
10.9 Medtronic
10.9.1 Company Overview
10.9.2 Company Insights
10.9.3 Business Breakdown
10.9.4 Product Benchmarking
10.9.5 Key Developments
10.9.6 Winning Imperatives
10.9.7 Current Focus & Strategies
10.9.8 Threat from Competition
10.9.9 SWOT Analysis
10.10 PerkinElmer Inc.
10.10.1 Company Overview
10.10.2 Company Insights
10.10.3 Business Breakdown
10.10.4 Product Benchmarking
10.10.5 Key Developments
10.10.6 Winning Imperatives
10.10.7 Current Focus & Strategies
10.10.8 Threat from Competition
10.10.9 SWOT Analysis
11 KEY DEVELOPMENTS
11.1 Product Launches/Developments
11.2 Mergers and Acquisitions
11.3 Business Expansions
11.4 Partnerships and Collaborations
12 APPENDIX
12.1 Related Research
Report Research Methodology
Verified Market Research uses the latest researching tools to offer accurate data insights. Our experts deliver the best research reports that have revenue generating recommendations. Analysts carry out extensive research using both top-down and bottom up methods. This helps in exploring the market from different dimensions.
This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.
We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:
Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
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| Demand side |
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Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
All the research models are customized to the prerequisites shared by the global clients.
The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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