Near Infrared Imaging Market Worth $2.81 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, Jan. 19, 2023 /PRNewswire/ -- The global near infrared imaging market size is expected to reach USD 2.81 billion by 2030, registering a CAGR of 4.0% from 2022 to 2030, according to a new report by Grand View Research, Inc. Growing usage of NIR fluorescence imaging due to the advantages, such as minimally invasiveness and high efficiency in diagnosing various conditions, is anticipated to drive the industry growth significantly during the forecast period. Moreover, growing incidences of chronic disorders, especially among the geriatric population, are fueling industry growth. Alzheimer's disease, dementia, arthritis, chronic kidney disease, cancer, Cardiovascular Diseases (CVDs), and diabetes are some of the commonly prevalent diseases that require NIR imaging for better diagnosis and further decision-making for effective treatment.

Key Industry Insights & Findings from the report:

• The reagents product segment dominated the industry in 2021 owing to the development of novel reagents to identify various types of cancer.
• The reagents segment is projected to expand further at the fastest CAGR retaining its leading position over the forecast years due to benefits offered by Indocyanine Green (ICG), such as real-time angiographic images during brain tumor or vascular surgery.
• The cancer surgeries application segment is expected to grow at the fastest CAGR during the forecast period owing to the high prevalence of the disorder, especially in the emerging economies.
• The hospitals & clinics end-use segment dominated the industry in 2021 owing to a rise in the number of admissions of cancer patients in clinics and hospitals.

Read 102-page market research report, "Near Infrared Imaging Market Size, Share & Trends Analysis Report By Product (Devices, Reagents), By Application (Cancer Surgeries, Preclinical Imaging), By End-use (Hospitals & Clinics, Research Labs), And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Near Infrared Imaging Market Growth & Trends

For instance, according to the International Agency for Research on Cancer in 2020, there were about 19,292,789 new cancer cases globally. The same source states that the number is expected to reach 50,550,287 by 2025. Expanding applications of the NIR technique in the early diagnosis of various neurological conditions are expected to play a significant role in the overall industry development. As per the National Research University's Higher School of Economics, neurological disorders are one of the leading causes of disability and death today. They were reported as the leading cause group of Disability Adjusted Life Years, which comprised 16.8% of global deaths.

Strategic initiatives, such as the introduction of technologically advanced fluorescence imaging systems, acquisitions, collaborations, and government approvals, by major companies, are expected to have a significant impact on the industry growth. For instance, in January 2021, Olympus Corp. entered into an agreement to acquire Quest Photonic Devices B.V. for EUR 50 million, to improve its surgical endoscopy capabilities. NIR is preferred as a process monitoring tool, especially in the pharmaceutical industry. Growing applications of NIR in commercial operations & research activties in biopharmaceutical companies as well as academic institutes are expected to drive the demand for advanced NIR systems in the coming years...

Near Infrared Imaging Market Segmentation

Grand View Research has segmented the global near infrared imaging market based on product, application, end-use, and region

NIR Imaging Market - Product Outlook (Revenue, USD Million, 2018 - 2030)

• Devices
• Near-infrared Fluorescence Imaging Systems
• Near-infrared Fluorescence & Bioluminescence Imaging Systems
• Reagents
• Indocyanine Green (ICG)
• Other Reagents

NIR Imaging Market - Application Outlook (Revenue, USD Million, 2018 - 2030)

• Preclinical Imaging
• Cancer Surgeries
• Gastrointestinal Surgeries
• Cardiovascular Surgeries
• Plastic/Reconstructive Surgeries
• Other Applications

NIR Imaging Market - End-user Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals & Clinics
• Pharmaceutical & Biotechnology Companies
• Research Laboratories

NIR Imaging Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Asia Pacific
• Japan
• China
• India
• Thailand
• South Korea
• Latin America
• Brazil
• Mexico
• Argentina
• Columbia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

List of Key Players of Near Infrared Imaging Market

• Quest Medical Imaging B.V.
• Stryker
• KARL STORZ SE & Co. KG
• Olympus
• Hamamatsu Photonics K.K
• Mizuho Medical Co, Ltd.
• Shimadzu Corp.
• Leica Microsystems
• Medtronic (Visionsense)
• PerkinElmer, Inc.
• Carl Zeiss Meditec
• Fluoptics

Check out more related studies published by Grand View Research:

• Non-contact Infrared Thermometers Market - The global non-contact infrared thermometers market size is anticipated to reach USD 1.09 billion by 2030, registering a CAGR of 12.42% over the forecast years, according to a new report by Grand View Research, Inc. Increasing number of infectious diseases, technological advancements, and increasing use of non-contact infrared thermometer in various industries are among the major factors driving this market growth. For instance, according to the NCBI, adenovirus infection is estimated to be responsible for 7% of all respiratory infections, which lead to fever. Furthermore, 25% of people infected with adenovirus require hospitalization due to excessive fever. Thus, with the increasing number of infectious diseases, the market is anticipated to grow during the forecast period.
• U.S. Breath Analyzers Market - The U.S. breath analyzers market size is expected to reach USD 3.1 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 15.4% from 2022 to 2030. Growing demand for breath analyzers from law enforcement agencies and other institutions such as schools, sports, and offices to minimize alcohol abuse is a major market driver. Early diagnosis of diseases such as cancer, tuberculosis, and Chronic Obstructive Pulmonary Disease (COPD) plays a key role in the success rate of their treatment. Breath analyzers offer a quick primary diagnosis based on exhaled air contents.
• Vein Illuminator Market - The global vein illuminator market size is expected to reach USD 793.8 million by 2027, registering revenue based CAGR of 30.6% over the forecast period, according to a new report by Grand View Research, Inc. Growing demand for easy visualization of inaccessible veins in neonates, elderly, dark skinned, and obese patients is expected to aid the market growth. Moreover, growing need for intravenous drugs for the treatment of various disorders is anticipated to further propel the product demand.

Browse through Grand View Research's Medical Devices Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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