The global near infrared imaging market is poised for significant growth, with a projected surge from US$ 2.2 billion in 2024 to US$ 3.2 billion by 2034. This remarkable expansion is anticipated to be driven by a robust Compound Annual Growth Rate (CAGR) of 3.9% over the next decade, according to recent analysis by FMI.
The anticipated growth in the near infrared (NIR) imaging market is attributed to several key factors. Primarily, the escalating demand for NIR imaging across various sectors including industrial inspection, medical diagnosis, and scientific research is expected to fuel market expansion. Moreover, the continuous development of new NIR imaging technologies and their application in diverse fields are projected to further drive market growth.
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Near-infrared imaging plays a crucial role in inspecting food, medicine, and other products for flaws and contamination, ensuring their safety and quality. Advancements in NIR imaging probes, dyes, and systems have led to improved image quality and resolution, enhancing its effectiveness in diagnosis and examination.
Regionally, North America is anticipated to dominate the NIR imaging market during the forecast period, owing to its high adoption in medical diagnosis, industrial inspection, and scientific research. Following North America, Europe is expected to emerge as the second-largest market, with Asia Pacific exhibiting the fastest CAGR during the forecast period. This rapid growth in Asia Pacific can be attributed to the increasing demand for NIR imaging in emerging economies such as China and India.
Key Takeaways from the Near Infrared Imaging Market:
- The global near infrared imaging market is estimated to register a CAGR of 3.9% with a valuation of US$ 3.2 billion by 2034.
- The market captured a CAGR of 5.7% in the historical period between 2018 and 2022.
- The United States is anticipated to dominate the global market by registering a 4.1% CAGR during the forecast period.
- With 4.5% CAGR, China is significantly driving the global market by 2033.
- Japan is anticipated to secure a CAGR of 4.9% in the global market during the forecast period.
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Key Players and Strategies for Success in the Near Infrared Imaging Market:
In recent years, there has been a surge in investment and collaboration within the industry, with venture capital firms and businesses. These strategic partnerships and financial investments aim to accelerate research and development, scale production, and expand market reach.
Recent Developments:
- In 2022, Leica Microsystems launched its NIR Fluorescence Imaging System, designed for use in both clinical and research settings. The system offers high-resolution imaging and compatibility with a wide range of NIR dyes.
- In 2023, Medtronic (Visionsense) received FDA approval for its NIR Fluorescence Imaging System, designed for use in minimally invasive spine surgery. The system aids in visualizing nerve structures and blood vessels.
- In 2022, Stryker received FDA clearance for its SureView NIR Imaging System, designed for use in minimally invasive surgical procedures. The system incorporates NIR technology to enhance visualization of blood flow and perfusion during surgery.
Near Infrared Imaging Market Key Players:
- Quest Medical Imaging B.V.
- Stryker
- KARL STORZ SE & Co. KG
- Olympus
- Hamamatsu Photonics K.K.
- Mizuho Medical Co, Ltd.
- Shimadzu Corporation
- Leica Microsystems
- Medtronic
- PerkinElmer, Inc.
- Carl Zeiss Meditec
- Fluoptics
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Key Segments:
By Product Type:
- Devices
- Near-infrared Fluorescence Imaging Systems
- Near-infrared Fluorescence & Bioluminescence Imaging Systems
- Reagents
- Indocyanine Green (ICG)
- Other Reagents
By Application:
- Preclinical Imaging
- Cancer Surgeries
- Gastrointestinal Surgeries
- Cardiovascular Surgeries
- Plastic/Reconstructive Surgeries
- Other Applications
By End Use:
- Hospitals & Clinics
- Pharmaceutical & Biotechnology Companies
- Research Laboratories
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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