Near Infrared Imaging Market is surging with CAGR of 4.2% from 2020 to 2027
According to our new market research study on “Near
Infrared Imaging Market to 2027 – Global Analysis and Forecast – by
product, applications and end user,” the market is expected to reach US$ 543.24
million by 2027 from US$ 395.14 million in 2019. The market is estimated to
grow with a CAGR of 4.2% from 2020 to 2027. The report highlights trends
prevailing in the market, and drivers and hindrances pertaining to the market
growth.
Near infrared imaging uses light from 650 to 950 nm to detect
any caused changes, accidents, or illnesses. It is an effective diagnostic tool
for tissue imaging that is minimally invasive and non-ionizing. Blood or water,
which are the main components of tissues, do not absorb NIR well thereby
increasing the changes in illumination for internal structures. Since it offers
faster resolution and is less harmless to patients, it is beneficial over other
strategies.
A rise in surgical procedures has increased the use of
visualization equipment to perform the surgery. Microsurgery has been opted by
population on a large scale owing to increasing chronic diseases caused by work
pressure, stress, improper eating habits, heredity, and exposure to chemicals.
Additionally, according to American Society of Plastic Surgeons, an increase in
number of several cosmetic surgeries has become one of the major factors for
the market growth. Thus growing surgical procedures and rise in the awareness
are expected to boost the near infrared imaging market in the coming years.
COVID-19 pandemic has become the most significant
challenge across the world. This challenge will be frightening especially in
developing countries across the globe as it will lead to reducing imports due
to disruptions in global trade. The COVID-19 pandemic affected the pharmaceutical,
medical device, R & D, and other businesses across the globe. Near infrared
imaging devices are critical care medical devices in several surgical
procedures. As the rise of the pandemic crisis was uncertain, there is shortage
in supply of various diagnostic imaging devices and consumables. It has been
difficult for the hospital to manage the medical devices used for in-house
patients and COVID19 patients. To deal with the situation, the market players
focus their business operations towards increasing the production capacities.
For instance, US based company Li-Cor, Inc. has accelerated its production
lines for Near-infrared (NIR) Western blotting systems and the In-Cell Western
Assay consumables which are valuable tools offered by Li COR Inc. and will expedite
the research on COVID 19 vaccine development.
Global near Infrared Imaging Market, based on
Application, the Near Infrared Imaging market is segmented into pre-clinical
imaging, cancer surgeries, gastrointestinal surgeries, cardiovascular
surgeries, plastic/reconstructive surgeries, and other applications. The cancer
surgeries segment held the largest share of the market in 2019, and same
segment is anticipated to register the highest CAGR of 4.7% in the market
during the forecast period.
Karl storz se and co.kg, Olympus Corporation, Carl
Zeiss Meditech AG, Leica Microsystems, PerkinElmer, Inc., Li-Cor, Inc.,
Hamamatsu Photonics K.K., Quest Medical Imaging B.V, Mizuho Medical Co., Ltd,
and Shimadzu Corporation are among the leading companies operating in the Near
Infrared Imaging market.
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