04-19-2019 10:54 AM CET - Business, Economy, Finances, Banking & Insurance
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Near Infrared Medical Imaging Market Industry Summary with Top Players Constraints Bruker Corporation, Carl Zeiss Meditec AG, Shimadzu Corporation, PerkinElmer,MIZUHO Corporation, Karl Storz

Press release from: Coherent Market Insights
Near Infrared Medical Imaging
Near Infrared Medical Imaging
Near infrared medical imaging, also known as near infrared spectroscopy, uses near infrared light waves of wavelength between 650 to 950 nm to non-invasively probe the oxygenation and concentration of hemoglobin in the muscles, brain, and other tissues. The near infrared diagnostic imaging modality is advantageous over various other existing radio-imaging techniques due to its non-invasive nature that facilitates repeated usage of this technique on the patient without any side effects and harm. Moreover, specific absorption by natural chromophores allows to obtain functional information of the patient such as the concentration of oxy-hemoglobin within particular tissues. A variety of possible clinical applications are focused in near infrared (NIR) medical imaging research and most importantly, highlights development of a technique for screening of breast cancer. Moreover, near infrared imaging is advantageous in terms of portability and cost-effectiveness. This technique involves use of incoherent light source that is typically safer than that of the strong invasive lasers used in the invasive imaging techniques such as electroencephalography (EEG), positron emission tomography (PET), and others. Furthermore, the near infrared imaging allows considerable motion to the patient undergoing the test, which again serves as an advantage when compared to the other existing alternatives.

Market Taxonomy

On the basis of product type, the global near infrared medical imaging market is segmented into:

Near Infrared Fluorescence Imaging Devices
Near Infrared Bioluminescence Imaging Devices
On the basis of application, the global near infrared medical imaging market is segmented into:

In-vivo Imaging
Cancer Surgeries
Cardiovascular Surgeries
Gastrointestinal Surgeries
Plastic/Reconstructive Surgeries
Others

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Market Dynamics

Increasing incidences of cancer and neurological diseases that demand imaging techniques for their diagnosis are expected to foster growth of near infrared medical imaging market. For instance, according to the World Cancer Research Fund International, breast cancer was reported to be the most common type of cancer detected in females with nearly 1.7 million new cases diagnosed in 2012. The data also suggests that this number is expected to increase by 2020 across the globe. Moreover, increasing prevalence of neurological disorders such as Alzheimer’s disease, epilepsy, dementia, and other diseases are also driving growth of global near infrared medical imaging market. According to the World Health Organization 2016, hundreds of millions of people are affected worldwide due to neurological disorders. The data suggests that over 50 million people across the globe suffer from epilepsy, whereas around 47.5 million people are suffering from dementia and around 7.7 million new cases are reported every year. However, high penetration of alternative medical imaging techniques in the market is expected to hinder the market growth over the forecast period.

Regional Insights

On the basis of region, the global near infrared medical imaging market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds a dominant position in the global near infrared medical imaging market and is expected to retain its dominance over the forecast period, owing to large population suffering from breast cancer and other neurological diseases. According to the American Cancer Society, invasive breast cancer was diagnosed in around 231,840 patients in the U.S. in 2015. Furthermore, key players in the market are introducing novel products, which is expected to aid in growth of the market in the region. For instance, in April 2017, Leica Microsystems introduced augmented reality near infrared fluorescence integrated imaging system GLOW800 at the American Association of Neurological Surgeons (AANS) Annual Scientific Meeting that facilitates full visual spectrum of white light into a single, real-time image. Asia Pacific is expected to witness a significant growth in the market, owing to increasing investments by international players by collaborating with regional players in the market. For instance, in June 2012, Infradex, Inc., a medical device company signed an exclusive agreement with Nipro Corporation for the distribution of TVC near infrared spectroscopy imaging system in Japan.

Competitive Landscape

Key players operating in the global near infrared medical imaging market include Bruker Corporation, Carl Zeiss Meditec AG, Shimadzu Corporation, PerkinElmer, Inc., MIZUHO Corporation, Karl Storz GmbH, and NOADAQ Technologies, Inc. among others. Market players are focused on providing technologically advanced products to sustain their position in the competitive market. For instance, in April 2018, Shimadzu Corporation introduced new LIGHTVISION near-infrared fluorescence imaging system for visualizing lymph nodes and blood vessels for the diagnosis and treatment of breast cancer.

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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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