Near-infrared (NIR) medical imaging uses light in the near-infrared range (700-1,000 nanometers) to produce high-contrast images of the human body. NIR medical imaging allows non-invasive monitoring and imaging of physiological properties such as blood flow and oxygen saturation at depth inside tissues. It provides real-time functional and anatomical information without ionizing radiation.
The global Near Infrared Medical Imaging Market is estimated to be valued at US$ 1.76 Bn in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing adoption of the NIR medical imaging across various medical applications such as neurology, oncology, cardiology and preclinical imaging is driving the growth of the near infrared medical imaging market. The rapid technological advancements in NIR imaging modalities like equipment miniaturization, improved resolution and portability are further fueling the market growth. With advancements, these systems are able to provide deeper tissue penetration along with multi-wavelength imaging capabilities and functional as well as molecular information. Ongoing research and development for expanding medical applications of NIR imaging is expected to create new opportunities for players in this market over the forecast period.
Segment Analysis
The global Near Infrared Medical Imaging Market can be segmented based on product type, application, end-user, and geography. Based on product type, the market is dominated by Near-Infrared Spectroscopy segment which holds around 45% market share. Near-Infrared Spectroscopy has wide applications in diagnosing various diseases like cancer, infection, and cardiovascular diseases. It has the capability to detect very minute changes at molecular level and analyze the concentration of oxygenated and deoxygenated hemoglobin in tissues. This helps doctors to identify the oxygen saturation levels and blood flow which aid early disease diagnosis.
Key Takeaways
The Global Near Infrared Medical Imaging Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global Near Infrared Medical Imaging Market is estimated to be valued at US$ 1.76 Bn in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023 to 2030.
Regional analysis shows that North America currently dominates the market with around 35% share owing to rapid technological advancements and increasing adoption of advanced imaging modalities in the region. The Asia Pacific region is projected to experience the highest growth during the forecast period of 2023-2030. Countries like China, India, and Japan are witnessing rising healthcare expenditure which is boosting the adoption of advanced medical imaging modalities like Near Infrared Medical Imaging. In addition, the growing geriatric population prone to various diseases and increasing prevalence of chronic conditions like cancer and cardiovascular diseases are also driving the demand. Moreover, favorable government initiatives to strengthen healthcare infrastructure and improve access are contributing to the market growth.
Key players:
Key players operating in the Near Infrared Medical Imaging market are GIDS GmbH, Kimball Physics, Phosphor Technology Ltd, Dr. Gassler Electron Devices, Hamamatsu Photonics K. K., Scintacor, and Koninklijke Philips N.V. Among them, Koninklijke Philips N.V. holds around 20% market share owing to its wide product portfolio and strong global distribution network. The other major players are focusing on new product launches, partnerships, and geographical expansion to strengthen their market position.
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