COVID-19 Vaccine Impact on Near Infrared Imaging Market Trends To Reach $373.7 Million By 2026
Near Infrared Imaging Market Growth & Trends
The global near infrared imaging market size is expected to reach USD 373.7 million by 2026, according to a new report by Grand View Research, Inc. expanding at a 4.1% CAGR during the forecast period. The growing use of near-infrared imaging due to advantages such as minimally invasiveness and high efficiency in diagnosing various conditions is anticipated to drive the near-infrared imaging market significantly during the forecast period.
Growing incidences of chronic disorders, especially among the geriatric population is fueling the near infrared imaging market. Alzheimer’s disease, dementia, arthritis, chronic kidney disease, and diabetes, are some of the commonly prevalent diseases that require near infrared imaging for better diagnosis and further decision making for effective treatment.
Expanding applications of the NIR technique in early diagnosis of various neurological conditions is expected to play a significant role in overall market growth. As per National Research University’s Higher School of Economics, neurological disorders are one of the leading causes of disability and death today. They were reported as the leading cause group of Disability Adjusted Life Years, which comprised 16.8% global deaths.
Frequent introduction of technologically advanced systems is expected to have a significant impact on market growth. NIR is preferred as a process monitoring tool, especially in the pharmaceutical industry. Expanding applications of NIR in commercial operations and research activities in biopharmaceutical companies, as well as academic institutes, are expected to fuel the demand for advanced NIR systems in upcoming years.
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Near Infrared Imaging Market Report
Near Infrared Imaging Market Report Highlights
- By product, reagents segment dominated the market in 2018 owing to the development of novel reagents to identify various types of cancer
- The reagents segment is expected to grow considerably in the future owing to benefits offered by Indocyanine green (ICG), such as real-time angiographic images during brain tumor or vascular surgery
- Cancer surgeries segment is expected to grow considerably in the near future owing to the high prevalence of the disorder, especially in the emerging economies
- Hospitals & clinics segment dominated the market owing to the increase in the number of admissions of cancer patients in clinics and hospitals
- The players profiled in the near infrared imaging market are Shimadzu Corporation KARL STORZ SE & Co. KG, Stryker, Leica Microsystems, Olympus, Carl Zeiss Meditec AG, Fluoptics, Quest Medical Imaging B.V., Mizuho Medical Co, Ltd., Hamamatsu Photonics K.KVisionsense, PerkinElmer, Inc., LI-COR, Inc., and SurgVision.