Near-Infrared Imaging Market to Reach at 4.1% CAGR & to Generates $375 Million by 2026
Pune, Maharashtra, India, February 8 2021 (Wiredrelease) Allied Analytics –:Surge in adoption of NIR imaging across the globe, rise in number of surgical procedures worldwide coupled with surge in prevalence of target diseases, and increase in awareness related to early diagnosis of cancer drive the growth in the global near-infrared imaging market.
“Near-Infrared Imaging Market by Product (Near-Infrared Fluorescence Imaging Systems and Near-Infrared Fluorescence & Bioluminescence Imaging Systems), Application (Preclinical Imaging, Medical Imaging, and Clinical Imaging), and Indication (Cancer Surgeries, Cardiovascular Surgeries, Gastrointestinal Surgeries, Plastic/Reconstructive Surgeries, and Others), and End User (Hospitals & Clinics, Research Laboratories, and Others): Global Opportunity Analysis and Industry Forecast, 2018-2026.” As per the report, the global near-infrared imaging industry garnered $271 million in 2018 and is estimated to reach $375 million by 2026, growing at a CAGR of 4.1% from 2018 to 2026.
Rise in number of surgical procedures worldwide coupled with surge in prevalence of target diseases and surge in adoption of NIR imaging across the globe drive the growth in the global near-infrared imaging market. Furthermore, increase in awareness related to early diagnosis of cancer supplement the market growth. However, high availability of other alternative imaging techniques hinders the market growth. On the other hand, high potential of the emerging economies creates new opportunities in the industry.
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The cancer surgeries segment to maintain its dominant position by 2026
Based on indication, the cancer surgeries segment will hold for the highest market share in terms of revenue in 2018, contributing for more than three-fifths of the total share, and is projected to maintain its dominant position throughout the forecast period. This is due to surge in cancer prevalence worldwide. Furthermore, this segment would register the fastest growth rate, with a CAGR of 4.6% from 2018 to 2026.
The near-infrared fluorescence imaging systems segment to contribute the highest share during the forecast period
Based on product type, the near-infrared fluorescence imaging systems segment will account for the major share in the global near-infrared imaging market in 2018, contributing 92.3% of the total share, and is expected to contribute the highest share during the forecast period. This is due to their application during surgeries such as cancer surgery, plastic surgery, and other surgeries. Furthermore, this segment is expected to register the highest CAGR of 4.2% from 2018 to 2026.
The medical imaging segment to maintain its dominant position by 2026
Based on application, the medical imaging segment will hold for the highest market share in terms of revenue in 2018, contributing for more than four-fifths of the total share, and is projected to maintain its dominant position throughout the forecast period. This is due to surge in advancements in surgical imaging techniques worldwide. Furthermore, this segment would register the fastest growth rate, with a CAGR of 4.3% from 2018 to 2026.
North America to maintain its leadership status by 2026
Based on region, North America will contribute nearly half of the total share in 2018, and is estimated to maintain the highest revenue contribution during the forecast period. This is due to rise in number of surgical procedures performed in the region. However, Asia-Pacific is estimated to grow at the highest CAGR of 4.9% from 2018 to 2026, owing to urge in awareness related to early screening of cancer. The other factors that boost the growth of market include huge patient base and rise in healthcare expenditure in the region.
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Players grabbing the largest pie
Carl Zeiss AG, Danaher Corporation (Leica Microsystems), Hamamatsu Photonics K.K., Karl Storz SE & Co. KG, Li-Cor, Inc., Medtronic plc., PerkinElmer Inc., Quest Innovations B.V. (Quest Medical Imaging B.V.), Shimadzu Corporation, and Stryker Corporation, and Others
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