by Near infrared medical imaging allows non-invasive diagnosis of various medical conditions utilizing the near-infrared region of the electromagnetic spectrum. Near infrared medical imaging finds widespread adoption in cancer detection and diagnosis processes, as it helps identify tumors inside the body without requiring invasive procedures like biopsies. It also aids in visualization and mapping blood vessels beneath the skin, which helps detect cancers and helps surgeons in pre-operative planning. Additionally, near infrared medical imaging is finding increasing usage in other disease diagnosis applications like examining brain functions, detecting dental carries, and monitoring blood perfusion in damaged tissues.
The global Near Infrared Medical Imaging Market is estimated to be valued at US$ 1.76 Bn in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The adoption of near infrared medical imaging in cancer detection and disease diagnosis is one of the key trends driving the market growth. Near infrared light can penetrate deep into human tissues and provide contrast between normal and diseased/cancerous tissues based on their optical properties. This non-invasive approach helps detect tumors and abnormalities inside the body without the need for biopsy or surgery. Near infrared medical imaging modalities like near infrared fluorescence imaging offer real-time tumor detection and intraoperative tumor margin assessment, improving cancer surgery outcomes. With rising cancer incidence globally and growing demand for minimally invasive diagnostic and surgical procedures, the adoption of near infrared medical imaging technologies is expected to increase significantly over the forecast period.
SWOT Analysis
Strength: Near Infrared Medical Imaging provides harmless and non-invasive diagnosis compared to conventional medical imaging techniques. It can identify cancer at early stage as it can detect variations in tissue oxygenation and hemoglobin content.
Weakness: High cost of Near Infrared Medical Imaging equipment limits its adoption. Lack of skilled professionals for operating these advanced medical imaging systems.
Opportunity: Growing geriatric population susceptible to chronic diseases and rising healthcare expenditure in developing nations create growth opportunities. Increasing adoption of minimally invasive procedures boosts demand.
Threats: Strict regulatory approval process for new medical devices increases time to market and compliance cost. Reimbursement issues in some countries restrict market growth.
Key Takeaways
The Global Near Infrared Medical Imaging Market Size is expected to witness high growth at a CAGR of 3.7% during the forecast period of 2023 to 2030. The market size is projected to reach US$ 1.76 Bn by 2024.
Regional analysis
North America dominates the global market currently due to advanced healthcare facilities and growing cancer cases. Asia Pacific is expected to offer lucrative opportunities owing to expanding medical tourism industry and improving healthcare infrastructure in nations like China and India.
Key players
Key players operating in the Near Infrared Medical Imaging market are GIDS GmbH, Kimball Physics, Phosphor Technology Ltd, Dr. Gassler Electron Devices, Hamamatsu Photonics, K. K., Scintacor, Koninklijke Philips N.V., Stanford Computer Optics, Inc, Konica Minolta, Inc. and others. These players are focusing on new product launches and enhancing their distribution network to strengthen market presence.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
