Near-Infrared Imaging Market By Product, Application, End-Users, & Region for 2024-2031

Near-Infrared Imaging Market Valuation - 2024-2031

The expanding application of near-infrared (NIR) imaging in medical diagnostics and surgical procedures is driving the market's growth. NIR imaging technology provides enormous benefits in terms of non-invasive, real-time observation of tissues, blood vessels, and malignancies making it a must-have tool in modern healthcare. One of the primary areas where NIR imaging is in high demand is oncology where it is utilized to improve tumor localization and margin assessment during procedures by enabling the market to surpass a revenue of USD 1.00 Billion in 2024 and reach a valuation of around USD 2.45 Billion by 2031.

The need for NIR imaging is also being spurred by advances in the production of NIR-compatible dyes and contrast agents which improve the technology's imaging capabilities. These advancements have broadened the scope of NIR imaging beyond oncology to encompass applications in neurology, ophthalmology, and gastrointestinal. In neurology, for example, NIR imaging is being investigated for its use in diagnosing and monitoring brain lesions as well as directing neurosurgical procedures by enabling the market to grow at a CAGR of 11.87% from 2024 to 2031.

Near-Infrared Imaging Market: Definition/ Overview

Near-infrared imaging (NIR) is a medical imaging technology that uses near-infrared light with wavelengths ranging from 700 to 900 nanometers to see and evaluate biological tissues. Unlike visible light, which is easily absorbed and scattered by tissues, near-infrared light can travel deeper into the body allowing for the viewing of structures beneath the skin's surface. This capacity makes NIR imaging extremely helpful in medical diagnostics.

It is a strong and adaptable technology that is widely employed in a variety of medical and scientific applications due to its ability to penetrate tissues and provide comprehensive insights that traditional imaging techniques cannot offer. One of the most common applications for NIR imaging is in oncology where it is used to detect and allocate malignancies during surgical procedures.

Near-infrared (NIR) imaging has the potential to improve medical diagnostics and surgical procedures, expanding its applicability across a wide range of healthcare sectors. NIR imaging's capacity to penetrate tissues and generate real-time, high-resolution images is especially useful in oncological procedures where accurate tumor margins are critical for optimal treatment.

Will the Increasing Number of Surgical Procedures Drive the Near-Infrared Imaging Market?

The increasing number of surgical procedures worldwide is a crucial driver for the near-infrared imaging market. Several factors contribute to this trend including an aging population, an increase in the prevalence of chronic diseases, and technological breakthroughs in surgery. According to the World Health Organization (WHO), the global volume of surgery is continually increasing with an estimated 234 million major surgical procedures conducted each year. This amount is a significant increase over prior years and is anticipated to continue climbing. In the United States, the Centers for Disease Control and Prevention (CDC) reported that around 48 million surgical and nonsurgical treatments were conducted in 2018.

This technique is especially useful in minimally invasive operations which have witnessed a major increase in recent years. According to a report published in the Journal of the American Medical Association (JAMA), the number of minimally invasive surgeries in the United States increased by 54% from 2008 to 2018. The use of near-infrared imaging in these procedures has been found to decrease problems while improving patient outcomes. For example, a clinical experiment published in the Annals of Surgery found that using near-infrared imaging during laparoscopic cholecystectomy reduced the rate of bile duct damage by 50% compared to traditional approaches.

Will High Capital and Operational Cost Hamper the Near-Infrared Imaging Market?

High capital and operational costs provide significant difficulties that may stymie the expansion of the near-infrared (NIR) imaging market. The initial cost of acquiring NIR imaging equipment is significant because these devices integrate advanced technologies such as powerful cameras, lasers, and detectors. Healthcare facilities, particularly in underdeveloped countries may struggle to justify these expenses, especially if budget restrictions are an issue. Furthermore, integrating NIR imaging into existing medical processes frequently necessitates infrastructure modifications, medical personnel training, and continuous maintenance all of which increase the overall cost.

Operational costs have an important influence in determining the market's trajectory. Beyond the initial purchase, NIR imaging systems suffer continuing expenses for maintenance, calibration, and component replacement. The requirement for specialized personnel to run these systems increases the operational strain as training and maintaining competent experts can be expensive. Furthermore, the use of NIR imaging in clinical settings may require the purchase of additional consumables such as contrast agents, raising operational expenses even higher.

Category-Wise Acumens

Will the Increasing Demand for Advanced Imaging Systems Drive Growth in the Product Segment?

Devices are the major product segment owing to the rising demand for improved imaging systems in medical diagnostics and surgical operations. This equipment which includes NIR cameras, scanners, and imaging systems, is critical for detecting objects beneath the skin such as blood arteries, lymph nodes, and cancers. NIR devices' superior imaging capabilities which provide higher contrast and deeper penetration than conventional imaging modalities have made them essential instruments in a variety of medical specialties including oncology, cardiovascular surgery, and neurology.

The probe/dye portion, while necessary serves as a complement to the devices. NIR imaging uses probes and dyes as contrast agents such as neocyanine green (ICG) to improve the visibility of target tissues or blood flow during imaging. Although probes and dyes are crucial to the effectiveness of NIR imaging operations, their market share is smaller than that of devices. This is primarily because the sale of these consumables is dependent on the number of NIR imaging equipment that are deployed. Furthermore, while probes and dyes are less expensive than devices, they require regular purchasing resulting in a different market dynamic.

Will Increasing Demand for Surgical Procedures Drive the Technology Segment?

The medical imaging sector is the dominating segment owing to the important role that NIR imaging systems play in improving surgical precision and diagnostic accuracy. The rising number of surgical procedures worldwide combined with the growing popularity of elective surgeries such as plastic surgery has resulted in an increased need for improved imaging technology. NIR imaging enables real-time viewing of tissues, blood flow, and other essential anatomical components which is extremely useful during complex surgical procedures. This skill increases the surgeon's ability to make educated decisions, lowers the risk of complications, and improves patient outcomes.

The growing use of NIR imaging for detecting and diagnosing illnesses such as Alzheimer's disease strengthens the medical imaging segment's position. NIR imaging is useful in detecting changes in brain tissue and blood flow patterns associated with neurodegenerative diseases. The technology's non-invasive nature and ability to generate detailed pictures without the use of contrast chemicals make it an important tool for early detection and monitoring of such disorders.

Country/Region-wise Acumens

Will the Adoption of Technologically Advanced Medical Devices Drive the Market in the North American Region?

The near-infrared imaging market in Asia Pacific is primarily driven by the United States, followed by Canada. This dominance stems mostly from the region's advanced healthcare infrastructure, high healthcare spending, and rapid adoption of novel medical technologies.

The adoption of technologically improved medical equipment is a major driver of the near-infrared imaging market in North America. One important factor is the rising prevalence of chronic diseases including cancer which demands new diagnostic and treatment techniques.

According to the American Cancer Society, there will be around 1.9 million new cancer cases diagnosed in the United States in 2022. Near-infrared imaging technology is an important tool in oncology since it helps detect cancer and guide surgeries. The National Institutes of Health (NIH) budget for fiscal year 2022 was USD 45 Billion with a significant amount dedicated to developing and implementing innovative medical technology. This investment promotes medical imaging innovation, particularly near-infrared technology. Furthermore, the FDA's attempts to streamline the medical device approval process have sped the release of new near-infrared imaging systems to the market.

Will Increasing Knowledge of Early Cancer Screening Process Drive the Market in the Asia Pacific Region?

Asia Pacific's near-infrared imaging market is expanding rapidly with China and Japan leading the way. This acceleration is essentially the result of these countries' significant spending on healthcare infrastructure and early cancer detection research. The growing awareness of and emphasis on early cancer screening methods is a major driver of the near-infrared imaging market in Asia Pacific. The World Health Organization (WHO) reports that cancer is the biggest cause of death in the Asia Pacific region, accounting for 4.5 million fatalities in 2019. This startling statistic has pushed governments and healthcare institutions to focus on early detection measures.

The Indian Council of Medical Research (ICMR) has set a target of reducing cancer mortality by 25% by 2025 through improved screening and early detection programs which are likely to increase the use of modern imaging technologies. These endeavors are driving up demand for near-infrared imaging systems that provide high-resolution, non-invasive imaging capabilities that can detect malignant tissues earlier than traditional approaches. Another key driver is the region's increasing healthcare expenditure and technological improvements. According to the Asian Development Bank, healthcare spending in the Asia Pacific region is expected to reach USD 2.4 Trillion by 2025, with a 6.3% CAGR from 2020.

Competitive Landscape

The Near-Infrared Imaging Market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support. The organizations are focusing on innovating their product line to serve the vast population in diverse regions.

Some of the prominent players operating in the near-infrared imaging market include:

Quest Medical Imaging B.V.

Stryker

KARL STORZ SE & Co. KG

Olympus

Hamamatsu Photonics K.K

Mizuho Medical Co, Ltd.

Shimadzu Corporation

Leica Microsystems

Medtronic

PerkinElmer, Inc.

Carl Zeiss Meditec

Fluoptics

Latest Developments

In Sep 2022, Olympus Corporation released VISERA ELITE III, which combines several imaging tasks into a single system, improving minimally invasive procedures such as laparoscopic cholecystectomy and laparoscopic colectomy. The technology is designed to increase operating room efficiency, improve endoscopic surgery quality, and raise the standard of care.

In June 2022, Shimadzu introduced the iMScope QT Imaging Mass Microscope, a high-level mass spectrometry imaging analysis tool. The microscope consists of an AP-MALDI ion source, a Q-TOF LCMS-9030, and an optical microscope. This allows molecules to be recognized in a tissue region immediately after microscopy. Combining with the LCMS-9030 aids in acquiring quantitative data and distribution information for full analysis.

Near-Infrared Imaging Market, By Category

• Product:
• Devices
• Probe/Dye
• Application:
• Preclinical Imaging
• Clinical Imaging
• Medical Imaging
• End-Users:
• Hospitals & Clinics
• Pharmaceutical and Biotechnology Companies
• Research Laboratories
• Region:
• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa