Increasing geriatric population, growing global burden of chronic diseases such as cancer, and rising need for minimally invasive surgeries are some of the key factors expected to drive the global market revenue growth in the near future
According to Emergen Research, the global near-infrared imaging market size was USD 562.3 million in 2020 and is expected to reach USD 1535.0 million in 2028 and register a revenue CAGR of 13.2% during the forecast period, 2021-2028.
The global near-infrared imaging market revenue growth is majorly supported by increasing geriatric populace, rising global prevalence of severe chronic diseases such as cancer and cardiovascular disorders, and rapidly increasing pre-clinical and clinical imaging applications of near-infrared imaging technology – particularly in cancer diagnosis and treatment.
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Near-infrared imaging offers numerous advantages over other traditional imaging technologies, such as real-time and high-resolution images of internal organs of the human body and comprehensive molecular profiling. Rising burden of target diseases such as cardiovascular, neurovascular, and gastrointestinal diseases, technological advances in near-infrared imaging systems, increasing demand for technologically advanced fluorescence near-infrared imaging systems for deep tissue penetration, and increasing applications of this imaging technique in physiological diagnostics, as well as urology, neurology, pulse oximetry, and studies of sports medicine are some other major factors expected to contribute to revenue growth of the global near-infrared imaging market.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Devices Segment Accounted for Largest Revenue Share in 2020:
The devices segment accounted for the largest revenue share in the global market in 2020 owing to many favorable factors such as increasing applications of near-infrared fluorescence imaging devices in surgical procedures including lesion detection and imaging-guided surgeries due to their superior features such as clearer optical view of internal structures and enhanced spatial image resolution.
Reconstructive Surgeries Application Segment Revenue to Expand at a Rapid CAGR:
The reconstructive surgeries segment is expected to account for fastest revenue growth rate in the global market over the forecast period. Growing use of near-infrared imaging technology in reconstructive surgeries owing to its excellent ability of real-time anatomical guidance in perioperative cases is one of the major factors driving revenue growth of this segment.
North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America near-infrared imaging market accounted for the largest revenue share in the global market in 2020. Increasing adoption of advanced imaging technologies, emergence of advanced imaging modalities, growing cases of chronic diseases, and increasing geriatric population are major factors expected to drive revenue growth of the North America market. Rising healthcare expenditure and presence of leading industry players such as Stryker Corporation and PerkinElmer Inc. that offer advanced near-infrared imaging systems are some other factors expected to further support revenue growth of the market in the region.
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Major Companies in the Market Include:
- Olympus Corporation
- Stryker Corporation
- Quest Medical Imaging BV
- Carl Zeiss Meditec AG
- PerkinElmer Inc.
- Medtronic PLC
- KARL STORZ SE & Co. KG
- LI-COR Inc.
- Shimadzu Corporation
- Leica Microsystems
For the purpose of this report, Emergen Research has segmented the global in-situ hybridization market on the basis of product type, application, end-use, and region:
Product Type Outlook (Revenue, USD Million; 2018–2028)
Application Outlook (Revenue, USD Million; 2018–2028)
- Cancer Surgeries
- Cardiovascular Surgeries
- Gastrointestinal Surgeries
- Reconstructive Surgeries
- Pre-clinical Imaging
End-use Outlook (Revenue, USD Million; 2018–2028)
- Pharmaceutical and Biotechnology Companies
- Research Institutes
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Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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