Global Near Infrared Imaging Market Size, Share & Industry Trends Analysis Report By Application, By Product (Reagents and Devices), By Reagents Type (Indocyanine Green (ICG)), By Devices Type, By End-user, By Regional Outlook and Forecast, 2022 - 2028

Global Near Infrared Imaging Market Size, Share & Industry Trends Analysis Report By Application, By Product (Reagents and Devices), By Reagents Type (Indocyanine Green (ICG)), By Devices Type, By End-user, By Regional Outlook and Forecast, 2022 - 2028

The Global Near Infrared Imaging Market size is expected to reach $2.5 billion by 2028, rising at a market growth of 4.6% CAGR during the forecast period.

Near infrared imaging is the method in which light with a wavelength in the range between 650 and 950 nm is utilized to find any damage, illness, or artificial changes. It is an efficient diagnostic device that can perform non-ionizing, minimally invasive tissue imaging. The major constituents of tissues, blood, and water, do not absorb NIR well, increasing the possibility of lighting for internal mechanisms.

It is suggested that near-infrared imaging is a potent method for medical and agricultural applications. The construction of nondestructive inspection tools for the evaluation of quality characteristics of complex matrices, such as pharmaceutical mixes, or agronomical issues, such as the identification of apple surface contaminations, frequently uses optical imaging techniques as well.

By using electroluminescence, near-infrared imaging (NIR) is a noninvasive, nondestructive, and extremely effective technique for locating specific flaws in photovoltaic and solar cells. The method can also be used to monitor high-temperature systems, locate problems in NIR fiber optic systems, and locate defects in lasers.

Pharmaceutical and polymer applications are currently growing areas of NIR applications. The need for near-infrared (NIR) imaging is projected to rise in the upcoming years due to an increase in the prevalence of target diseases such as cancer, and gastrointestinal, cardiovascular, and neurovascular conditions.

COVID-19 Impact Analysis

The COVID-19 pandemic resulted in significant heterogeneity in how surgical procedures are managed. In order to avoid coming into contact with COVID-19 healthcare workers and patients, patients are attempting to avoid healthcare facilities. A number of acute and serious illnesses, including myocardial infarction, stroke, and other malignancies, have shown declining rates. The temporary deferral of a number of elective surgeries is anticipated to have an impact on the market for near-infrared imaging as governments and agencies worked to ensure that resources are available for COVID-19 patients. The industry is anticipated to grow in the coming years since the pandemic limitations have been lifted. The near infrared imaging market had positive growth over the previous year as a result of COVID-19's effects.

Market Growth Factors

Increasing Number Of Operations Worldwide

The frequency and incidence of a number of diseases, including cardiovascular diseases, cancer, neurovascular disorders, and gastrointestinal diseases, are on the rise, which is contributing to an increase in the number of surgical procedures performed. Trauma patients and people who get surgical aesthetic work done are also contributing factors to the surge in surgical treatment options. Intraoperative imaging with NIR technology is utilized for a wide variety of surgical procedures, including plastic and reconstructive surgeries, cancer surgeries, cardiothoracic surgeries, cardiovascular surgeries, gastrointestinal surgeries, and neurovascular surgeries.

Potential For Growth In Developing Countries

Major competitors can capitalize on high-growth possibilities in developing economies. In spite of the fact that the cost of doing business is a challenge in these emerging countries, the enormous population bases that they boast offer a market for imaging technologies that are likely to be sustained. Patients in emerging economies are also being encouraged to spend more money on high-quality healthcare services, which is encouraging participants to expand their involvement in these emerging markets.

Market Restraining Factors

Protracted Approval Procedure And Lack Of Fluorophores

Only methylene blue and indocyanine green (ICG), which received FDA approval for clinical application in 1959, are NIR fluorophores. ICG and MB are blood pool agents, however, and as such are not the best fluorophores for fluorescence image-guided operations because they are neither specific for malignancies nor healthy tissues. Because the degree of molecular absorption into the target and nearby normal tissues differs, the visibility of the target tissues mostly depends on the usefulness of fluorescent agents.

Product Outlook

Based on product, the near infrared imaging market is bifurcated into devices and reagents. The reagents segment dominated the revenue share in the near infrared imaging market in 2021. This is a result of the advantages ICG provides. Additionally, reagents have a number of benefits over conventional visible light dyes, such as high sensitivity and precise biological system detection. Angiographic images in real time are provided using indocyanine green during vascular surgery or brain tumor along with spine surgery.

Application Outlook

On the basis of application, the near infrared imaging market is divided into preclinical imaging, cancer surgeries, gastrointestinal surgeries, cardiovascular surgeries, plastic/reconstructive surgeries, and other applications. The cardiovascular surgeries segment recorded a promising growth rate in the near infrared imaging market in 2021. Cardiovascular operations like valve replacement and coronary surgery may involve neurological problems. In order to optimize the success of cardiac procedures, it is crucial to monitor the brain oxygenation level.

End-User Outlook

Based on end-user, the near infrared imaging market is categorized into hospitals & clinics, pharmaceutical & biotechnology companies, and research laboratories. The pharmaceutical and biotechnology segment garnered a substantial revenue share in the near infrared imaging market in 2021. Pharmaceutical businesses employ near infrared imaging to assess a product's essential material characteristics.

Regional Outlook

On the basis of region, the near infrared imaging market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment recorded the largest revenue share in the near infrared imaging market in 2021. This is due to consumer spending power, the use of technologically modern medical equipment, and diagnostic methods. The U.S. market is anticipated to grow as a result of the high rate of cancer cases that have been documented there.

The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Leica Microsystems GmbH and Medtronic PLC are the forerunners in the Near Infrared Imaging Market. Companies such as Stryker Corporation, Olympus Corporation and PerkinElmer, Inc. are some of the key innovators in Near Infrared Imaging Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Medtronic PLC, Stryker Corporation, Olympus Corporation, Hamamatsu Photonics K.K., Carl Zeiss Meditec AG (Carl Zeiss AG), PerkinElmer, Inc., Leica Microsystems GmbH (Danaher Corporation), Shimadzu Corporation, Karl Storz SE & Co. KG, and Fluoptics SAS.

Recent Strategies deployed in Near Infrared Imaging Market

Partnerships, Collaborations & Agreements

Apr-2022: Medtronic came into collaboration with GE Healthcare, a manufacturer and distributor of diagnostic imaging agents and radiopharmaceuticals for imaging modalities. The collaboration was focused on demands and needs for care at Office-Based Labs (OBLs) and Ambulatory Surgery Centers (ASCs). With this collaboration, customers can access extensive financial solutions, product portfolios, and exceptional service and this would enhance clinical outcomes, workflow, and efficiency for ASCs and OBLs.

Feb-2021: Olympus announced a five-year partnership with Hitachi, a Japanese multinational conglomerate corporation, to make an endoscopic ultrasound system. Hitachi supplied diagnostic ultrasound systems and related endoscopic ultrasound systems parts to Olympus. These products would be used in assessing cancer stages in the bronchus, liver, and pancreas, as well as for minimally invasive care.

Product Launches & Product Expansions

Sep-2022: Olympus Corporation released VISERA ELITE III, which offers multiple imaging functions, all comprises in one system upgrading minimally invasive therapies such as Laparoscopic Cholecystectomy and Laparoscopic Colectomy. The system focuses on enhancing efficiency in the operating room, empowers the quality of endoscopic surgery, and builds up the standard of care.

Aug-2022: Shimadzu introduced the LuminousQuester NI near-infrared imaging system, which comprises dedicated software and a camera that is capable of concurrently imaging visible light and near-infrared light. The system records near-infrared light that is less interfered with indoor lighting and because of this imaging can be carried out in a vast range of testing environments.

Jun-2022: Shimadzu announced the launch of iMScope QT Imaging Mass Microscope, a high-level mass spectrometry imaging analysis. The microscope comprises an AP-MALDI ion source, the Q-TOF LCMS-9030, and an optical microscope. This enables the recognition of molecules in a tissue region area immediately after microscopy. Combining with LCMS-9030 helps in obtaining quantitative data and distribution information for comprehensive analysis.

Jan-2021: KARL STORZ Endoscopy-America, Inc. unveiled The IMAGE1 S Rubina multimode visualization system, the latest addition to endoscopic imaging. The product comprises upgraded fluorescence-guided imaging with state-of-the-art 4K resolution applying indocyanine green dye (NIR/ICG) and near-infrared light. Rubina is designed with proprietary and unique dual-LED light technology and dual-4K sensors to switch between fluorescence and white-light modes, with the absence of mismatched or lag frames.

Dec-2020: Olympus enhanced its product VISERA ELITE II surgical imaging platform by adding 3D and infrared (IR) capabilities to it. The platform is the new dedicated IR Xenon light source and rigid 3D ENDOEYE video laparoscope and is adaptable throughout specialties that include endourology, orthopedic surgery, gynecology, general surgery, and ENT. The enhancement helps in improving efficiency and reducing costs for Surgery Centers and Hospitals.

Apr-2020: Leica Microsystems introduced STELLARIS, a flagship new confocal microscopy platform. STELLARIS enhanced the capability of capturing three-dimensional images of living cells and tissues. The platform added a dimension of information to confocal imaging and provided the access to lifetime-based information in every experiment.

Geographical Expansions

Jul-2021: Hamamatsu Photonics opened a new factory building at Joko-Cho, Hamamatsu City, Japan. The expansion aims to strengthen the production capacity of the measurement and imaging instruments business. This expansion would enhance sales of measurement and imaging instruments such as digital slide scanners for pathology, semiconductor failure analysis systems, and digital cameras for scientific measurement.

Approvals & Trails

Oct-2020: Medtronic received approval from U.S. Food and Drug Administration (FDA) 510(k) for the NIM Vital nerve monitoring system. This system would help physicians to identify, monitor, and confirm nerve function to help lessen the risk of nerve damage during neck and head surgery. The system uses proprietary technology to give full intraoperative nerve condition data that enhance operative efficiency and notify surgical strategy.

Scope of the Study

Market Segments covered in the Report:

By Application

• Preclinical Imaging
• Cancer Surgeries
• Gastrointestinal Surgeries
• Cardiovascular Surgeries
• Plastic/Reconstructive Surgeries
• Others

• Reagents
• Indocyanine Green (ICG)
• Others
• Devices
• Near-infrared Fluorescence Imaging Systems
• Near-infrared Fluorescence & Bioluminescence Imaging Systems

• Hospitals & Clinics
• Pharmaceutical & Biotechnology Companies
• Research Laboratories

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

• Medtronic PLC
• Stryker Corporation
• Olympus Corporation
• Hamamatsu Photonics K.K.
• Carl Zeiss Meditec AG (Carl Zeiss AG)
• PerkinElmer, Inc.
• Leica Microsystems GmbH (Danaher Corporation)
• Shimadzu Corporation
• Karl Storz SE & Co. KG
• Fluoptics SAS

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