PUBLISHER: Grand View Research | PRODUCT CODE: 1587417
PUBLISHER: Grand View Research | PRODUCT CODE: 1587417
The Europe hyperspectral imaging systems market size is expected to reach USD 7.56 billion by 2030, registering a CAGR of 10.2% from 2025 to 2030, according to a new report by Grand View Research, Inc. The HSI technology is highly useful in detecting a broad spectrum of light rather than simply assigning the primary colors (red, green, and blue) to each pixel. It is used in a variety of applications, including the chemical, pharmaceutical, medical diagnostic, food, agricultural, aerospace, and defense industries. The growing use of HSI in these applications is expected to boost industry growth. Furthermore, the technological advancements in instrumentation and data analysis of HSI are expected to contribute to market growth.
The industry is expected to develop in the coming years as a result of rapid industrialization and the demand for high bandwidth communication. In addition, to obtain a competitive edge, leading competitors are shifting to product upgrades, regional expansions, portfolio diversifications, and mergers & acquisitions. For instance, in May 2022, Specim, a leading HSI instruments & systems manufacturer, in partnership with Grupo Alava, strengthened its presence in Spain and Portugal. In addition, industry expansion is predicted to be fueled by the increased R&D and growth prospects in Europe as well as efforts to uphold international product quality standards.
Growing chemical, pharmaceutical, food, aerospace, medical diagnostics, and defense industries coupled with increasing awareness about precision diagnosis across the region are also expected to contribute to the industry growth. Furthermore, there has been growing adoption of hyperspectral technologies in hospitals for the identification and diagnosis of solid tumors and imaging guidance tools during the joining of tissues after tumor removal, especially in gastric cancer. This is expected to boost the demand for HSI technology. Cancer has become one of the leading causes of death in Europe, thus augmenting the adoption of HSI. For instance, according to the International Agency for Research on Cancer, Europe accounted for about 4,398,443 new cancer cases and 1,955,231 deaths in 2020.