Near Infrared Imaging (NIR) Market: Current Analysis and Forecast (2021-2027)

Near Infrared Imaging (NIR) Market: Current Analysis and Forecast (2021-2027)

  • UnivDatos Market Insight
  • August 2021
  • Healthcare
  • 178 pages

Report Description

Near-infrared imaging (NIR) is an emerging technology that monitors the changes in the state of biological tissues using light in the range of 600 to 900 nm. The demand for NIR imaging is increasing on account of the growing number of surgical procedures all over the world, technological advancements in NIR imaging, advantages of NIR imaging over conventional methods of spectroscopy, Furthermore, the rising incidents of Cancer, Cardiovascular diseases, and Gastrointestinal diseases coupled with rising aging population also propels the market growth. As per the International Agency for Research on Cancer (IARC), 1 in 5 people will develop cancer during their lifetime and 1 in 11 women will die from cancer, globally. 

However, some of the restraints in the market include the lengthy approval process that further limits the targeted fluorophore's availability. 

Based on Product, the market is fragmented into Fluorescence Imaging and Reagents. The Fluorescence Imaging segment holds the largest share in 2020 and is expected to register the highest CAGR in the upcoming period owing to the rise in research activities, high advantages of near-infrared fluorescence imaging systems such as high image resolution, high sensitivity, and real-time image guidance during surgeries. Furthermore, the rising prevalence of cancer, gastrointestinal diseases, and cardiovascular diseases also intensifies the segment growth. As per the Centers for Disease Control and Prevention, there were 14.8 million adults were diagnosed with ulcers in 2018. 

Based on Application, the market is fragmented into Preclinical, Clinical, and Medical. The Preclinical segment holds the largest share in 2020 and is expected to register the highest CAGR in the upcoming period owing to the increasing government support in the form of funding for biotech and pharma research. As per IBISWorld, it’s evident that biotech is a multi-billion-dollar industry. Even before 2020 came to a close, the industry market size was over $100 billion. Moreover, the increasing focus on the development of new treatments for certain diseases such as cancer, angiogenesis, vascular diseases, and inflammation also drives the segment growth.

Based on Indication, the market is fragmented into Cancer Surgeries, Cardiovascular Surgeries, Gastrointestinal Surgeries, and Plastic/Reconstructive Surgeries. The Cancer Surgeries segment holds the largest share in 2020 and is expected to register the highest CAGR in the upcoming period owing to the rising prevalence of cancer cases all over the world. Cancer cases are continuously increasing on account of the lifestyle changes, rise in the geriatric population, and socioeconomic risk factors. Breast cancer accounts for the highest prevalence in the case of women owing to the genetic mutations in the BRCA1 and BRCA2 gene, radiation exposure, obesity, and postmenopausal hormonal therapy. As per the Centers for Disease Control and Prevention, Breast Cancer is the second most occurring cancer among women in the United States.

Based on End-user, the market is fragmented into Hospital & Clinics, Researchers Laboratories, and Biotechnology and Pharmaceutical Companies. The Hospital & Clinics segment holds the largest share in 2020 and is expected to register the highest CAGR in the upcoming period owing to rising clinical applications of NIR imaging in various therapeutic areas, the increase in demand for NIR imaging among clinicians across the world, and high advantages of NIR imaging systems in comparison to conventional imaging systems CT and MRI, such as high resolution and low cost. 

For a better understanding of the market adoption of Near Infrared Imaging, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America will dominate the Near Infrared Imaging market on account of the increasing geriatric population coupled with the rising prevalence of target diseases, high healthcare spending, a growing number of cosmetic surgeries, and high adoption of technologically advanced imaging systems. Some of the major players operating in the market include Stryker, KARL STORZ SE & Co. KG, Carl Zeiss Meditec AG, Leica Microsystems, Olympus Corporation, PerkinElmer, Inc., LI-COR, Inc., Medtronic, Hamamatsu Photonics K.K., and Shimadzu Corporation. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions

Near-infrared imaging (NIR) is an emerging technology that monitors the changes in the state of biological tissues using light in the range of 600 to 900 nm. The demand for NIR imaging is increasing on account of the growing number of surgical procedures all over the world, technological advancements in NIR imaging, advantages of NIR imaging over conventional methods of spectroscopy, Furthermore, the rising incidents of Cancer, Cardiovascular diseases, and Gastrointestinal diseases coupled with rising aging population also propels the market growth. As per the International Agency for Research on Cancer (IARC), 1 in 5 people will develop cancer during their lifetime and 1 in 11 women will die from cancer, globally.

Insights Presented in the Report

“Amongst Product, Fluorescence Imaging segment holds the major share.”

Based on Product, the market is fragmented into Fluorescence Imaging and Reagents. The Fluorescence Imaging segment holds the largest share in 2020 and is expected to register the highest CAGR in the upcoming period owing to the rise in research activities, high advantages of near-infrared fluorescence imaging systems such as high image resolution, high sensitivity, and real-time image guidance during surgeries. Furthermore, the rising prevalence of cancer, gastrointestinal diseases, and cardiovascular diseases also intensifies the segment growth. As per the Centers for Disease Control and Prevention, there were 14.8 million adults were diagnosed with ulcers in 2018. 

“Amongst Application, Preclinical is anticipated to grow at the highest CAGR during the analyzed period.”

Based on Application, the market is fragmented into Preclinical, Clinical, and Medical. The Preclinical segment holds the largest share in 2020 and is expected to register the highest CAGR in the upcoming period owing to the increasing government support in the form of funding for biotech and pharma research. As per IBISWorld, it’s evident that biotech is a multi-million-dollar industry. Even before 2020 came to a close, the industry market size was over $100 million. Moreover, the increasing focus on the development of new treatments for certain diseases such as cancer, angiogenesis, vascular diseases, and inflammation also drives the segment growth. 

“Amongst Indication, Cancer Surgeries is anticipated to grow at the highest CAGR during the analyzed period.”

Based on Indication, the market is fragmented into Cancer Surgeries, Cardiovascular Surgeries, Gastrointestinal Surgeries, and Plastic/Reconstructive Surgeries. The Cancer Surgeries segment holds the largest share in 2020 and is expected to register the highest CAGR in the upcoming period owing to the rising prevalence of cancer cases all over the world. Cancer cases are continuously increasing on account of the lifestyle changes, rise in the geriatric population, and socioeconomic risk factors. Breast cancer accounts for the highest prevalence in the case of women owing to the genetic mutations in the BRCA1 and BRCA2 gene, radiation exposure, obesity, and postmenopausal hormonal therapy. As per the Centers for Disease Control and Prevention, Breast Cancer is the second most occurring cancer among women in the United States.

“Amongst End-user, Hospital & Clinics segment are anticipated to grow at the highest CAGR during the analyzed period.”

Based on End-user, the market is fragmented into Hospital & Clinics, Researchers Laboratories, and Biotechnology and Pharmaceutical Companies. The Hospital & Clinics segment holds the largest share in 2020 and is expected to register the highest CAGR in the upcoming period owing to rising clinical applications of NIR imaging in various therapeutic areas, the increase in demand for NIR imaging among clinicians across the world, and high advantages of NIR imaging systems in comparison to conventional imaging systems CT and MRI, such as high resolution and low cost. 

“North America signifies one of the largest markets and Europe is expected to be the fastest-growing markets of Near Infrared Imaging market.”

For a better understanding of the market adoption of Near Infrared Imaging, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America will dominate the Near Infrared Imaging market on account of the increasing geriatric population coupled with the rising prevalence of target diseases, high healthcare spending, a growing number of cosmetic surgeries, and high adoption of technologically advanced imaging systems. As per the World Bank, the North American health expenditure (% of GDP) was 16.42 in 2018. Some of the major players operating in the market include Stryker, KARL STORZ SE & Co. KG, Carl Zeiss Meditec AG, Leica Microsystems, Olympus Corporation, PerkinElmer, Inc., LI-COR, Inc., Medtronic, Hamamatsu Photonics K.K., and Shimadzu Corporation. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions. 

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry

Customization Options:

The Near-Infrared Imaging market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

Companies Covered

  • Stryker
  • KARL STORZ SE & Co. KG
  • Carl Zeiss Meditec AG
  • Leica Microsystems
  • Olympus Corporation
  • PerkinElmer, Inc.
  • LI-COR, Inc.
  • Medtronic
  • Hamamatsu Photonics K.K.
  • Shimadzu Corporation

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Table of Content

1  MARKET INTRODUCTION
1.1. Market Definitions
1.2. Objective of the Study
1.3. Limitation
1.4. Stake Holders
1.5. Currency Used in Report
1.6. Scope of the Global Near Infrared Imaging Market Study

2  RESEARCH METHODOLOGY OR ASSUMPTION
2.1. Research Methodology for the Global Near Infrared Imaging Market
2.1.1. Main Objective of the Global Near Infrared Imaging Market

3  MARKET SYNOPSIS

4  EXECUTIVE SUMMARY

5  GLOBAL NEAR INFRARED IMAGING MARKET REVENUE (USD BN), 2019-2027F

6  MARKET INSIGHTS BY PRODUCT

6.1.  Fluorescence Imaging
6.2.  Reagents

7  MARKET INSIGHTS BY APPLICATION
7.1. Preclinical
7.2. Clinical
7.3. Medical

8 MARKET INSIGHTS BY INDICATION
8.1. Cancer Surgeries
8.2. Cardiovascular Surgeries
8.3. Gastrointestinal Surgeries
8.4. Plastic/Reconstructive Surgeries
8.5. Others

9 MARKET INSIGHTS BY END-USER
9.1. Hospital & Clinics
9.2. Researchers Laboratories
9.3. Biotechnology and Pharmaceutical Companies

10 MARKET INSIGHTS BY REGION
10.1. North America Near Infrared Imaging Market
10.1.1. United States
10.1.2. Canada
10.1.3. Rest of North America
10.2. Europe Near Infrared Imaging Market
10.2.1. Germany
10.2.2. France
10.2.3. United Kingdom
10.2.4. Italy
10.2.5. Spain
10.2.6. Rest of Europe
10.3. Asia Pacific Near Infrared Imaging Market
10.3.1. China
10.3.2. Japan
10.3.3. India
10.3.4. Australia
10.3.5. Rest of Asia Pacific
10.4. Rest of the World Near Infrared Imaging Market

11 DEMAND AND SUPPLY SIDE ANALYSIS
11.1. Demand Side Analysis
11.2. Supply Side Analysis
11.2.1. Top Product Launches
11.2.2. Top Business Partnerships
11.2.3. Top Business Expansions, Investments and Divestitures
11.2.4. Top Merger and Acquisitions

12 VALUE CHAIN ANALYSIS

13 GLOBAL NEAR INFRARED IMAGING MARKET TRENDS & INSIGHTS

14 GLOBAL NEAR INFRARED IMAGING MARKET DYNAMICS

14.1. Market Drivers
14.2. Market Challenges
14.3. Impact Analysis

15 GLOBAL NEAR INFRARED IMAGING MARKET OPPORTUNITIES

16 COMPETITIVE SCENARIO

16.1. Porter's Five Forces Analysis
16.1.1. Bargaining power of Supplier
16.1.2. Bargaining power of Buyer
16.1.3. Industry Rivalry
16.1.4. Availability of Substitute
16.1.5. Threat of new Entrants
16.2 Competitive Landscape
16.2.1 Company Shares, By Revenue

17 COMPANY PROFILED
17.1. Stryker
17.2. KARL STORZ SE & Co. KG
17.3. Carl Zeiss Meditec AG
17.4. Leica Microsystems
17.5. Olympus Corporation
17.6. PerkinElmer, Inc.
17.7. LI-COR, Inc.
17.8. Medtronic
17.9. Hamamatsu Photonics K.K.
17.10. Shimadzu Corporation

18 DISCLAIMER

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