Market Highlights
The global near infrared imaging market held a market value of USD 316
million in 2017 and is projected to grow at a CAGR of 12.6% over the forecast
period.
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Near infrared imaging uses near infrared light between 650 and 950 nm to
non-invasively examine the concentration and oxygenation of hemoglobin which is
used to detect changes induced by brain activity, injury, or disease. Moreover,
near infrared imaging is portable and inexpensive device which may boost the
market during forecast period.
Additionally, the growing research and development expenditure by the
government as well as private sector is likely to contribute to the market
growth. As per the data by the Office for National Statistics, in 2016, the
gross domestic expenditure on research and development (R&D) was Euro 33.1
billion (USD 35.2 billion) in the UK. Moreover, companies are using a trend of
strategic alliance and acquisition to gain the market and minimize the
competition in the market.
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Segmentation
The global near infrared imaging market has been segmented into product
type, application, and end user.
By product type, the market has been segmented into devices, reagents,
and others. Devices segment is further segmented into near-infrared
fluorescence imaging systems and near-infrared bioluminescence imaging systems.
Based on application, the market has been segmented into cancer
surgeries, preclinical imaging, plastic/reconstructive surgeries,
gastrointestinal surgeries, cardiovascular surgeries, and others.
The near infrared imaging market, by end user, has been segmented into
pharmaceutical & biotechnology companies, hospitals & clinics, research
laboratories & academic institutions, and others.
Regional Analysis
On regional basis, the Americas is anticipated to dominate the global
near infrared imaging market owing to the growing R&D budgets by both
government as well as commercial pharmaceutical and biotechnological companies
and increasing adoption of advanced technologies in the region.
Europe is expected to hold the second largest position in the global near
infrared imaging market owing to the presence of strong academic & research
base and availability of funding for research in the European countries.
Asia Pacific has served an opportunity for developing near infrared imaging
market in this region due to increasing demand for the better treatment and
devices and increasing prevalence of disease like cardiovascular diseases and
cancer.
The Middle East & Africa has the least share of the global near
infrared imaging market. Moreover, the major market share of the region is
expected to be held by the Middle East region owing to the increasing
government initiatives for the healthcare sector.
Key Players
Some of the prominent players in the global near infrared imaging market
are PerkinElmer, Inc. (US), Li-Cor, Inc. (US), Stryker Corporation (US), Karl
Storz Se & Co.Kg (Germany), Carl Zeiss Meditec AG (Germany), Leica
Microsystems (Germany), Medtronic (Ireland), Hamamatsu Photonics K.K., (Japan),
Olympus Corporation (Japan), Shimadzu Corporation (Japan), Quest Medical
Imaging B.V. (the Netherlands), Mizuho Medical Co., Ltd. (Japan), and others.
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