Near Infrared Imaging Market is expected to reach US$ 543.24 Mn in 2027

by Sameer Joshi or 24-Dec-2020

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Increasing Number of Surgical Procedures across the world and advantages offered by near infrared imaging system driving the Near Infrared Imaging Market.

According tour new market research study on “Near Infrared Imaging Market t2027 – Global Analysis and Forecast – by product, applications and end user,” the market is expected treach US$ 543.24 million by 2027 from US$ 395.14 million in 2019. The market is estimated tgrow with a CAGR of 4.2% from 2020 t2027. The report highlights trends prevailing in the market, and drivers and hindrances pertaining tthe market growth. 
Factors such as rising number of surgical procedures worldwide, and advantages offered by near infrared imaging system such as such as deeper tissue penetration and high spatial resolution with detailed molecular profiling are expected tboost the growth of the global Near Infrared Imaging market. However, the market is likely tget impacted by the Shortage of Skilled Professionals during the forecast period.
Near infrared imaging uses light from 650 t950 nm tdetect 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, dnot absorb NIR well thereby increasing the changes in illumination for internal structures. Since it offers faster resolution and is less harmless tpatients, it is beneficial over other strategies. 
A rise in surgical procedures has increased the use of visualization equipment tperform the surgery. Microsurgery has been opted by population on a large scale owing tincreasing chronic diseases caused by work pressure, stress, improper eating habits, heredity, and exposure tchemicals. Additionally, according tAmerican 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 tboost the near infrared imaging market in the coming years.
According ta report published by the Lancet Commission on Global Surgery (2015), ~28–32% of the burden of disease can be attributed tthe surgically treatable conditions globally and 143 million additional surgical procedures are required treduce the mortality every year. Moreover, according ta report of Healthcare Cost and Utilization Project (HCUP), in 2017, 17.2 million patients visited the hospital for various surgeries including invasive and therapeutic surgeries. The increasing awareness among patient population with respect tbenefits of treating a medical condition with surgery at appropriate stage is driving the demand of surgical procedures ttreat sudden unmet medical conditions. Thus, the increasing number of surgical procedures is likely tenhance the growth of the near infrared imaging market during the forecast 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 treducing imports due tdisruptions 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 tmanage the medical devices used for inhouse patients and COVID19 patients. Tdeal 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. 
Karl storz se and, Olympus Corporation, Carl Zeiss Meditech AG, Leica Microsystems, PerkinElmer, Inc., Li-Cor, Inc., Hamamatsu Photonics K.K., Quest Medical Imaging B.V, MizuhMedical Co., Ltd, and Shimadzu Corporation are among the leading companies operating in the Near Infrared Imaging market.   
The Report Segments Global Near Infrared Imaging Market as follows:
By Product
  • Device
    • Near-Infrared Fluorescence Imaging Systems
    • Near-Infrared Fluorescence and Bioluminescence Imaging Systems
  • Reagent
  • Indocyanine Green (ICG)
  • Other Reagents
By Applications 
  • Cancer Surgeries
  • Cardiovascular Surgeries
  • Gastrointestinal Surgeries
  • Plastic/Reconstructive Surgeries
  • Preclinical Imaging
  • Other Applications
By End User
  • Hospitals and Clinics
  • Pharmaceutical and Biotechnology Companies
  • Research Laboratories
By Geography
  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • Italy
    • UK
    • Spain
    • Rest of the Europe
  • Asia Pacific(APAC)
    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of Asia Pacific
  • Middle East & Africa (MEA)
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East and Africa
  • South America (SAM)
    • Brazil
    • Argentina 
    • Rest of South America
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