Near-infrared medical imaging facilitates noninvasive visualization of anatomical structures by using near-infrared light between 650nm to 1000nm. It helps in examining internal tissues, thus aiding early detection of cancers and other abnormalities.
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 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Near-infrared fluorescence imaging provides high resolution images and helps surgeons localize and differentiate between cancerous and healthy tissues more precisely during complex surgeries. It utilizes fluorescent dyes that bind to tumors and lymph nodes, allowing visualization under NIR light during procedures. This facilitates improved diagnosis and treatment planning while reducing chances of damage to vital organs and recurrence of cancer post-operation.
SWOT Analysis
Strength: Near infrared imaging offers non-invasive diagnostics with no ionizing radiation. It has higher penetration depth compared to other light-based imaging modalities.
Weakness: Availability of limited contrast agents in NIR imaging poses challenges in diagnosis. High capital costs of NIR imaging systems restrict their adoption in smaller healthcare settings.
Opportunity: Rising geriatric population and increasing incidence of chronic diseases will drive the demand for advanced medical imaging technologies. Growing investments in R&D of targeted NIR contrast agents offer new avenues.
Threats: Stringent regulations for new contrast agent approval increase clinical trials costs. Declining reimbursement cuts can reduce the willingness of hospitals to invest in near infrared medical imaging systems.
Key Takeaways
The global Near Infrared Medical Imaging Market demand is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period, due to increasing prevalence of chronic diseases and growing applications in cancer surgeries.
North America dominated the near infrared medical imaging market in 2023 owing to advanced healthcare infrastructure and availability of funding for clinical research in the region. Asia Pacific is anticipated to be the fastest growing market during the forecast period supported by rising medical tourism, healthcare spending and expanding private healthcare sectors in China and India.
Key players operating in the Near Infrared Medical Imaging market are Stryker, KARL STORZ, Carl Zeiss Meditec, Leica Microsystems, Olympus Corporation, PerkinElmer, and LI-COR. Strategic collaborations between players and academic institutions and increasing R&D investments for enhancing imaging capabilities are some notable trends in the market
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
