The global medical hyperspectral imaging market is expected to grow at a 6.2% CAGR from US$ 181.8 Million in 2022 to US$ 294.7 Million by the end of 2030.
Growing number of healthcare ailments continues to drive advancements in medical imaging landscape. As such, computational power, image analysis, and hyperspectral cameras are the technological innovations being implemented all across the healthcare industry.
Non-invasive diseases as well as surgeries are being precisely figured out by imaging sensors. Also, they do not emit any sort of radiation to harm the patient or operator. According to FMI’s analysis, these factors will provide impetus to the market during the assessment period.
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“Proven success in North America and Europe is prompting medical hyperspectral imaging market players to shift their priorities to the developing economies. This factor will help in growth of the market between 2020 and 2030” – FMI Analyst
Key Takeaways
- Hyperspectral camera holds the largest market share owing to latest advancements with respect to sensor development
- High preference for accuracy to boost prospects of MHSI in healthcare
- North America regional market is set to grow at the highest rate over 2022 to 2030
- India’s growth as a medical tourism hub to create opportunities for market players
Although FMI’s report is bullish on the use of hyperspectral imaging in medical applications, initial investments and reluctance to experiment will lead to limited adoption, especially in the next couple of years.
FMI’s discussion with stakeholders across the value chain revealed that concerns related to data storage, and the subsequent associated cost has been a key restraint for end-users. Many providers are offering cloud-based storage options, and it is likely that over the course of the forecast period, adoption will gradually increase.
Hyperspectral imaging used in a range of sectors apart from healthcare. The key hyperspectral imaging players are continuously focusing on offering technologically-superior products, not just for the healthcare industry.
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According to FMI, holistic advances in hyperspectral imaging will boost the confidence of healthcare industry and fuel adoption. However, manufacturers will need to maintain that elusive balance between quality offerings and competitive pricing.
List of Key Players Covered in Medical Hyperspectral Imaging market are:
- IMEC
- Norsk Elektro Optikk
- Galileo
- Gilden Photonics
- Resonon
- XIMEA
- Gooch & Housego
- Chemlmage
- Applied Spectral Imaging
- Cubert
- EVK DI Kerschhaggl
- Headwall Photonics
- FluxData
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Key Segments of Medical Hyperspectral Imaging Industry Survey
Medical Hyperspectral Imaging Market by Product:
- Hyperspectral Imaging Systems
- Hyperspectral Imaging Accessories
Medical Hyperspectral Imaging Market by Application:
- Medical Diagnosis
- Tissue and Cell Biology
- Drug Discovery
- Others
Medical Hyperspectral Imaging Market by Technology:
- Visible Hyperspectral Imaging
- Near-infrared Hyperspectral Imaging
- Ultraviolet Hyperspectral Imaging
- Short-wave Infrared Imaging
- Mid-wave Infrared Hyperspectral Imaging
Medical Hyperspectral Imaging Market by End User:
- Diagnostic Centres
- Hospitals
- Research & Academic Centres
- Pharmaceutical & Biotechnology Companies
About FMI:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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