Near Infrared Imaging Global Market Report 2022: Emerging Demand in Gastrointestinal Endoscopes and Minimally Invasive Treatment

DUBLIN, April 5, 2023 /PRNewswire/ -- The "Near Infrared Imaging Market Size, Share, Trends, By Product Type, By Application, By End-use, and By Region Forecast to 2030" report has been added to  ResearchAndMarkets.com's offering.

The near infrared imaging market has experienced significant growth, with a size of USD 800 million in 2021 and a projected revenue CAGR of 14.1% during the forecast period.

The surge in adoption of near infrared imaging systems for diagnostic imaging of chronic diseases such as cancer, gastrointestinal disorders, and Cardiovascular Diseases (CVD) is a major driving force behind this growth.

Near infrared imaging offers a cost-effective thermal imaging solution for predicting CVD and is being increasingly used in hospitals and heart research institutes for treatment and medical examinations.

According to the World Health Organization (WHO), CVD accounts for 17.9 million deaths worldwide each year, which has led to a rise in demand for near infrared imaging systems.

Furthermore, several countries have implemented near infrared imaging systems during the COVID-19 pandemic, with Non-Contact Infrared Thermometers (NCITs) accurately detecting body temperature. The United States Food and Drug Administration (FDA) issued an enforcement policy in 2020, mandating the use of infrared tele-thermographic systems to increase accessibility of thermal imaging systems and reduce thermometer shortages during the pandemic. Near infrared imaging is also crucial in military and defense applications, used to extract important data for detection, recognition, and identification in combat operations.

The United States Department of Defense employs near infrared imaging systems for detecting people and objects emitting heat signatures in the dark and can also be attached to weapons for night targeting. Additionally, the United States Department of Defense has allocated USD 4.7 billion for upgrading defense systems, including overhead persistent infrared for tracking ballistic and hypersonic threats, which is anticipated to boost the demand for near infrared imaging systems over the forecast period.

Emerging demand in gastrointestinal endoscopes and minimally invasive treatment

Near infrared imaging plays a vital role in the early detection and diagnosis of structural gastrointestinal diseases, such as diverticular disease, colon polyps, stenosis, strictures, hemorrhoids, inflammatory bowel disease, and colon cancer. Additionally, near infrared imaging devices are used in conjunction with gastrointestinal endoscopes to treat early-stage cancers, as well as various conditions such as accidental foreign objects and removal of polyps. Globally, cancer accounted for 10 million deaths in 2020, according to the World Health Organization (WHO). Increased awareness campaigns by organizations like the WHO and Cancer Research Institute (CRI) have contributed to greater awareness of chronic illnesses, driving revenue growth in the market.

The market is also benefitting from recent advancements in Narrow Band Imaging (NBI) and Flexible Spectral Imaging Color Enhancement (FICE) techniques, which provide advanced visual representations and visualization of vascular, helping healthcare professionals to provide precise and accurate diagnostic imaging data for the treatment of chronic conditions. These technological advancements are expected to boost demand for near infrared imaging systems over the forecast period.

Regulatory approvals and availability of alternative imaging techniques

One of the main obstacles to the commercialization of near infrared imaging systems is the challenge of obtaining regulatory approvals. Product development, applications, and post-marketing surveillance are closely regulated and monitored by the United States Food and Drug Administration (FDA), making it difficult for manufacturers to bring their products to market.

As regulations become increasingly stringent and material prices rise, the market has become more competitive, which is driving up product prices and impacting treatment costs. As a result, many hospitals are seeking cost-effective alternatives to diagnostic imaging techniques that use near infrared imaging systems, which is limiting the growth of the market. Additionally, many near infrared imaging systems are being used in pre-clinical and healthcare R&D, which is further limiting the market's growth potential.

Key Takeaways
Product Type Analysis:

The near infrared imaging market has been categorized based on device type into devices, reagents, accessories, and others. In 2021, the devices segment accounted for a larger revenue share due to the advantages offered by near infrared fluorescence and bioluminescence imaging, such as high resolution, sensitivity, real-time guidance during surgeries, and the ability to track cancer cells, genes, protein interactions, cells, or small organisms through emission of visible light. These devices are highly used in hospitals and clinics for taking effective patient-care decisions, and they offer sensitive, robust, and high output biodistribution imaging using terminal endpoints.

The reagent segment accounted for a steady revenue share in 2021, and is highly adopted by cancer research and development. Near infrared reagents act as fluorescence imaging using dual-emission polymer dots (Pdots) and are capable of non-invasively monitoring transplanted cell-based tissue constructions. The increasing number of cases of Acute Lymphocytic Leukemia (ALL) registered in the U.S. in 2022 is expected to drive demand for this segment over the forecast period.

Application Analysis:

The near infrared imaging market has been segmented based on application into abdominal screening, bladder screening, cardiovascular, musculoskeletal, cancer surgeries, pre-clinical imaging, and others. In 2021, the abdominal screening segment accounted for a larger revenue share, as near infrared imaging systems are widely used for monitoring blood flow around the heart and detecting abdominal aortic aneurysm. The precise and accurate imaging results generated by these systems help medical professionals make crucial decisions in various trauma care situations. The bladder screening segment accounted for a steady revenue share, as near infrared imaging systems are an ideal tool for targeting bladder cancer using an Antibody-Photoabsorber Combination (APC) and Near-Infrared Photoimmunotherapy (NIR-PIT) that produces fast cancer cell killing.

End-use Analysis:

The near infrared imaging market has been segmented based on end-use into hospitals and clinics, diagnostic centers, and others. In 2021, the hospital and clinic segment accounted for a larger revenue share, as near infrared imaging is widely adopted in these settings for generating real-time results and reports. This technology enables doctors to recognize disease mechanisms and detect results as early as possible, revealing the biological anatomy of tissue or organs through a variety of medical imaging techniques. The increasing cases of chronic illness are expected to drive demand for patient treatment in chronic diseases. The diagnostic center segment accounted for a steady revenue share, as near infrared imaging is an ideal equipment to provide urgent patient treatment services through a non-invasive imaging technique that can quickly detect multiple diseases. It lowers risk and overall operational costs, fueling growth of this segment.

Regional Outlook

The near infrared imaging market in North America has the largest revenue share in 2021. This is due to the increasing adoption of near infrared imaging for chronic disease treatment and funding support in the region. Near infrared imaging is considered a non-invasive imaging technique for diagnosis, leading to many hospitals and diagnostic networks in the US and Canada adopting the technology. The US is also a prime destination for R&D in chronic diseases, and government funding is creating more opportunities in the market. The technology is also highly adopted by the United States Department of Defense, and advancements in thermal imaging and IR detection based on optomechanical sensors are expected to drive market growth in the future.

The Asia Pacific market has a steady revenue share in the near infrared imaging market, with rising demand for diagnostic imaging and a vast patient population in chronic illness driving market growth. Near infrared imaging systems are being adopted in hospitals and cancer research institutes in the region for the treatment of chronic diseases. Additionally, space and defense technology is highly procuring near infrared imaging, with deep space mission projects like Chandrayaan-3 and Gaganyaan-3 under development by The Indian Space Research Organization (ISRO).

The Europe market has a moderate revenue share in the near infrared imaging market, with increasing cases of chronic illness and advancements in infrared technology driving demand for the system. Hospitals in the region are widely introducing near infrared imaging systems in patient care and treatment, while advancements in defense technology are also accelerating demand for the technology. For example, Germany has delivered infrared imaging enabled radar-controlled defense systems to Ukraine for protection against air attacks, which are designed and developed by Germany-based Diehl Defense. These strategic developments are driving growth in the market.

Key Topics Covered:

Chapter 1. Market Synopsis

Chapter 2. Executive Summary

Chapter 3. Indicative Metrics

Chapter 4. Near Infrared Imaging Market Segmentation & Impact Analysis

Chapter 1. Near Infrared Imaging By Product Type Insights & Trends

Chapter 2. Near Infrared Imaging Market By Application Insights & Trends

Chapter 3. Near Infrared Imaging Market By End-use Insights & Trends

Chapter 4. Near Infrared Imaging Market Regional Outlook

Chapter 5. Competitive Landscape

Chapter 6. Company Profiles

Companies Mentioned

• Olympus Corporation
• KARL STORZ SE & Co. KG
• Hamamatsu Photonics K.K.
• Danaher Corporation
• LI-COR Inc.
• Medtronic plc
• Mizuho Medical Co. Ltd.
• Quest Medical Imaging B.V.
• Shimadzu Corporation
• Stryker Corporation

For more information about this report visit https://www.researchandmarkets.com/r/qrunqr

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]
 
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
 
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets