Near-Infrared Fluorescence Imaging System Market Trends and Competitive Analysis 2031

Near-infrared Fluorescence Imaging System Market Outlook 2031

The global near-infrared fluorescence imaging system market was valued at US$ 0.5 Bn in 2021

It is estimated to expand at a CAGR of 11% from 2022 to 2031

The global near-infrared fluorescence imaging system market is expected to cross the value of US$ 1.3 Bn by the end of 2031

Outlook of Near-infrared Fluorescence Imaging System Market

The near-infrared fluorescence imaging (NIRF) system irradiates NIR excitation light on the indocyanine green (ICG) medium injected into the lymph ducts, blood vessels, or other areas. This system enables easy and real-time identification of lymphatic vessels along with the confirmation of blood flow throughout surgery.

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This system delivers unprecedented clinical value by easily visualizing blood flow and lymph throughout the surgery. The NIRF system is equipped with high definition sensors and advanced displays that are specifically useful for surgical procedures.

Growing Adoption of NIR fluorescence Imaging System for Plastic/Reconstructive Surgeries to Drive Market

The NIR fluorescence imaging technique has significant potential for the future of plastic surgeries, owing to its capacity for perioperative, real-time anatomical identification, and guidance. NIR fluorescence imaging is a data-driven and on-the-table method for surgeons in order to detect poorly perfused flaps. Traditional methods of flap evaluation, including flap color and capillary refilling, are notably subjective and could provide inaccurate clinical assessment. NIR fluorescence imaging systems are increasingly safer and more reliable throughout the complex reconstructive procedures. Numerous commercial near-infrared fluorescence imaging system can be used for breast reconstruction surgeries, including SPY Elite, FLARE, IC-View, PDE-Neo, and Fluobeam 800.

Novel Product Development to Propel Market

Fluorescence guided surgeries (FGS) depend on the availability of equipment with near-infrared excitation and detection capabilities. These equipment are available from key players such as Stryker, Hamamatsu, and Olympus for endoscopic, open, and robotic platforms. The pinpoint and SPY systems, by Novadaq Technologies ULC (now a part of Stryker), were among the first commercially available equipment for NIR fluorescence imaging in North America. Since acquiring Novadaq Technologies in June 2017, Stryker has launched new iterations of this technology.

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In 2020, Arthrex, an advanced medical device company, introduced SynergyID, the world's first endoscopic 4-chip camera with fluorescence imaging support. The SynergyID system has significant potential to exhibit crystal-clear patient anatomy by utilizing four imaging sensors in order to display 8 million pixels, over one billion colors, augmented reality, and fluorescence imaging.

Demand for Handheld Near-infrared Fluorescence Imaging System to Rise Significantly

In terms of type, the global near-infrared fluorescence imaging system market has been divided into cart-based near-infrared fluorescence imaging system, handheld near-infrared fluorescence imaging system, and others. The cart-based segment held a major share of almost 27% in 2021. The segment is estimated to expand consistently at a CAGR of more than 12% during the forecast period.

The handheld near-infrared fluorescence imaging system is a versatile imager dedicated to open surgeries and offers autofocus & zoom features, enabling to capture the image of the complete surgical field with a high sensitivity. Additionally, handheld controls for surgeon and separate controls for assistant, budget-friendly buying option, versatile near-infrared imaging capability, and compact handheld design are key factors fueling the demand for handheld near-infrared fluorescence imaging systems.

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Laser Diode Helps Improve Surgeon's Ability to Assess Perfusion, Witness High Product Demand

In terms of light source, the global near-infrared fluorescence imaging system market has been classified into laser diode, light emitting diode, and filtered lamp source. The laser diode segment dominated the global near-infrared fluorescence imaging system market and held more than 45% share in 2021. Laser diode helps enhance the surgeon's ability to assess perfusion, which can improve patient outcome. Moreover, laser diode-based fluorescence imaging, such as 'SPY Elite', enables surgeons to perform open procedures, including breast and other reconstruction, and cardiothoracic surgery in order to visualize microvascular blood flow in tissue intraoperatively.

Rise in Cancer Surgeries to Fuel Market Growth

Based on application, the global near-infrared fluorescence imaging system market has been segregated into classified into cancer surgeries, cardiovascular surgeries, preclinical imaging, plastic/reconstructive surgeries, thyroid surgeries, and others. The cancer surgeries segment dominated the global near-infrared fluorescence imaging system market and accounted for more than 51% share in 2021.

Increase in incidence of cancer across the world is one of the crucial factors that is projected to boost the cancer surgeries segment during the forecast period. According to the World Health Organization (WHO), cancer is a leading cause of death across the world, accounting for around 10 million deaths in 2020. Moreover, around 2.26 million cases of breast cancer were diagnosed, with nearly 685,000 deaths reported in 2020.

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Novel innovative devices, such as near-infrared fluorescence lymphatic imaging (NIRFLI), are also playing crucial role in surgeries. This system enables visualization of Lymphatic Dysfunction (Lymphedema) in chronic venous insufficiency (CVI) patients during early stages of the disorder.

Demand for Near-infrared Fluorescence Imaging Systems to Surge in Hospitals and Clinics

In terms of end-user, the global near-infrared fluorescence imaging system market has been split into hospitals & clinics, academic & research institutes and others. The hospitals & clinics segment of the global near-infrared fluorescence imaging system accounted for around 47% share of the global market in 2021. Furthermore, the segment is also expected to expand at a notable CAGR of 9.3% during the forecast period. Rise in demand for near-infrared fluorescence imaging system in the hospitals & clinics segment can be primarily attributed to a surge in the need for advanced medical imaging modalities for accurate diagnosis throughout the procedure.

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Regional Outlook of Global Near-infrared Fluorescence Imaging System Market

In terms of volume, North America held a prominent share of approximately 40% of the global near-infrared fluorescence imaging system market in 2021. Technological advancements, increase in expenses on heart health and cancer treatment, and robust support from government authorities are some of the factors that are estimated to propel the North America near-infrared fluorescence imaging system market during the forecast period.

Asia Pacific is projected to be a highly attractive market during the analysis period, owing to rise in prevalence of chronic diseases such as CVDs and cancer. Additionally, strong presence of leading players such as Olympus Corporation, Hamamatsu Photonics K.K., Shimadzu Corporation, and Mizuho Medical Co., Ltd. and their novel innovations in medical imaging modalities augment the near-infrared fluorescence imaging system market in Asia Pacific.

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Latin America is a notable consumer of near-infrared fluorescence imaging systems as compared to Middle East & Africa. Moreover, the market in Latin American is projected to expand at a faster pace as compared to the market in Middle East & Africa.

Analysis of Key Players in Global Near-infrared Fluorescence Imaging System Market

The global near-infrared fluorescence imaging system market is consolidated with the large-and small-scale vendors controlling majority of the market share. Market players are spending significantly on comprehensive research and development, primarily to develop innovative devices. Expansion of product portfolios and mergers & acquisitions are notable strategies adopted by key players. Carl Zeiss Meditec AG, Fluoptics, Hamamatsu Photonics K.K, KARL STORZ SE & Co. KG, Mizuho Medical Innovation, Olympus, PULSION MEDICAL SYSTEMS SE, Shimadzu Corporation, and Stryker are the prominent entities operating in this market.

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