Global Hyperspectral Imaging System Market Size study & Forecast, by Product (Camera, Accessories), by Application (Military Surveillance, Remote Sensing, Life Sciences & Medical Diagnostics, Machine Vision & Optical Sorting, Others) and Regional Analysis

Global Hyperspectral Imaging System Market Size study & Forecast, by Product (Camera, Accessories), by Application (Military Surveillance, Remote Sensing, Life Sciences & Medical Diagnostics, Machine Vision & Optical Sorting, Others) and Regional Analysis, 2022-2029

Global Hyperspectral Imaging System Market is valued approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. The hyperspectral imaging system is the combination of spectroscopy and digital imaging that improves the sensitivity and capability to differentiate over the conventional imaging and detection methods. Hyperspectral imaging is significantly enhancing the ability to separate the objects based on spectral properties. It is extensively used for advanced medical imaging systems in which the analysis is performed at the tissue, molecular and cellular levels to collect the detailed information used for treatment, diagnosis and screening of various diseases. Growing industrial applications of hyperspectral imaging, increasing funding and investments on R&D on healthcare and technological innovations in sensor design are the few factors responsible for high CAGR of the market over the forecast period.

The use of hyperspectral imaging systems in the healthcare industry is essential. Additionally, the sector's growing number of investments is anticipated to fuel this domain's rise. The healthcare industry is going through a huge digital revolution, and these technologies are going to have a big impact on the industry. For instance, in March 2022, Swift Medical launched the Swift Ray 1, the first complete hyperspectral imaging device in the world, which wirelessly connects to a smartphone camera and collects extensive clinical data to assist better diagnosis, therapy, and wound care monitoring. Powerful medical imaging is now available worldwide, from the hospitals to the patient's home, due to the Swift Ray 1's compact size, which can fit in the hand of a clinician or patient. Additionally, rising technological advancements is anticipated to create the lucrative opportunity for the market during forecast period. However, the high costs of hyperspectral imaging and limited availability of skilled professionals may stifle market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Hyperspectral Imaging System Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the dominating region across the world in terms of market share, owing to decent healthcare infrastructure, high healthcare spending, growing awareness on the benefits of hyperspectral imaging in commercial industries and increasing adoption of novel technologies in the region. Whereas, Asia Pacific is also anticipated to exhibit highest growth rate over the forecast period, owing to factors such as high presence of pool of patients, rising healthcare awareness and growing government funding for R&D activities on healthcare, that would create lucrative growth prospects for the Hyperspectral Imaging System market across Asia Pacific region.

Major market player included in this report are:
Headwall Photonics, Inc.
Corning Incorporated
Specim, Spectral Imaging Ltd.
Resonon
Telops Inc.
Norsk Elektro Optikk as (NEO)
Applied Spectral Imaging
Bayspec
Surface Optics Corporation
Cubert GmbH

Recent Developments in the Market:
 In Sept. 2022, Resonon, a global hyperspectral imaging company, launched two new NIR range (925 - 1700 nm) hyperspectral imagers: a Pika IR-L and Pika IR-L+. The new images are smaller, nearly three times lighter, and have a greater spectral resolution than those provided by the current generation of NIR imagers.

Global Hyperspectral Imaging System Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Product, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Product:
Camera
Accessories
By Application:
Military Surveillance
Remote Sensing
Life Sciences & Medical Diagnostics
Machine Vision & Optical Sorting
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Companies Mentioned

Headwall Photonics, Inc.
Corning Incorporated
Specim, Spectral Imaging Ltd.
Resonon
Telops Inc.
Norsk Elektro Optikk as (NEO)
Applied Spectral Imaging
Bayspec
Surface Optics Corporation
Cubert GmbH


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