Major players operating in the global hyperspectral imaging market include, Headwall Photonics, HyperMed Imaging, Inc., Spectral Imaging Ltd., imec, Norsk Elektro Optikk AS (NEO), SpekLED GmbH, and Resonon.
Global Hyperspectral Imaging Market – Insights
Hyperspectral imaging collects and processes information from across the electromagnetic spectrum. It is used for remote sensing, calorimetry, night vision, and other applications in various sectors including healthcare, R&D, food and beverages, and military and defense. The technology offers images with higher quality and greater sensitivity compared to conventional or multispectral imaging. For instance, multispectral imaging offers 2 to 20 images per dataset, while hyperspectral imaging offers over 20 images per dataset. Moreover, multispectral imaging provides 4 to 20 data points per pixel, while hyperspectral imaging provides full spectrum per pixel.
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Global Hyperspectral Imaging Market: Drivers
Hyperspectral imaging offers advantages such as high patient and operator safety and superior accuracy and consistency. Increasing adoption of hyperspectral imaging in the healthcare sector is expected to boost growth of the global hyperspectral imaging market over the forecast period. Hyperspectral imaging is used in medical imaging and ophthalmology, owing to its high accuracy and clarity. It also finds application in procedures of gastrointestinal tract, vascular systems, tissue diagnosis, fluorescence microscopy, wound analysis, and cell biology. Hyperspectral imaging covers the surface area of target and provides the image that contains information regarding various light wavelength bands in order to help recognize targeted tumor tissue, a blood vessel, lymph nodes, or a nerve bundle.
Increasing adoption of hyperspectral imaging in the pharmaceuticals sector is also expected to boost the market growth. In the pharmaceuticals industry, hyperspectral imaging is used to perform quality control tests in order to identify foreign material present in drugs and mixed chemicals in counterfeit drugs.
Global Hyperspectral Imaging Market: Restraints
However, high cost of hyperspectral imaging, lack of awareness about the application the system, lack of skilled professions, and stringent regulatory policies that delay approval for the systems in some regions are some of the factors that hinder growth of the market.
Global Hyperspectral Imaging Market Taxonomy
By Product Type
- Hyperspectral Imaging Cameras
- Other accessories
- Diagnostic Imaging
- Biological (Wound Analysis, cell biology and fluorescence microscopy)
- Pharmaceutical (Drug quality analysis)
- North America
- Asia Pacific
- Latin America
- Middle East
Global Hyperspectral Imaging Market: Regional Analysis
North America is expected to hold dominant position in the global hyperspectral imaging market over the forecast period, followed by Europe. The market growth in North America is driven by high healthcare investment and developed healthcare sector in the region. Asia Pacific is expected to witness high growth in the global hyperspectral imaging market. This is attributed to increasing economic development and developing healthcare sector in the region.
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Global Hyperspectral Imaging Market: Competitive Landscape
Key players in the market are focused on product approval and launch to expand their product portfolio. For instance, in June 2018, Headwall Photonics Inc. introduced sensor payloads consisting of hyperspectral sensors and lidar instruments for the unmanned aerial vehicle (UAV) platform. In April 2018, HyperMed Imaging, Inc. received the CE Mark approval for the distribution of its HyperView medical imaging system in Europe. The HyperView System is a battery-operated, handheld, portable, and non-invasive diagnostic imaging device used for assessing tissue oxygenation.
Moreover, major players are also focused on adopting facility expansion and collaboration strategies to expand their product output. For instance, in February 2017, Headwall Photonics set up a new facility in Boston, U.S. for its advanced imaging sensor products. In July 2018, SANUWAVE Health, Inc. announced a partnership with HyperMed. The collaboration will include SNUWAVE utilizing HyperMed’s Hyperview spectral imaging device to measure oxyhemoglobin level, deoxyhemoglobin level, and oxygen saturation in superficial tissue.
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