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Medical Near Infrared Imaging: A Leading Driver Behind Surge In Prevalence Of Target Diseases Is Fueling The Market Due To Rising Demand For Early And Accurate Diagnosis Market Expansion in 2025
Medical Near Infrared Imaging
What Will the Medical Near Infrared Imaging Industry Market Size Be by 2025?
The market size for near-infrared medical imaging has seen swift expansion in the past few years. The market, which stood at $0.54 billion in 2024, is predicted to surge to $0.61 billion in 2025, progressing at a compound annual growth rate (CAGR) of 12.7%. This growth in the historical period is linked to factors such as the growing incidence of cancer, a trend towards less invasive procedures, increased spending and improvements in healthcare infrastructure, the incorporation of NIR imaging in surgical navigation, and broadening of application areas.
What's the Long-Term Growth Forecast for the Medical Near Infrared Imaging Market Size Through 2029?
Expectations indicate a swift expansion in the medical near infrared imaging market in the forthcoming years, with projections suggesting it will escalate to $1 billion in 2029, reflecting a compound annual growth rate (CAGR) of 13.2%. Causative factors for this upcoming growth can be tied to the increasing elderly population, the transition to less intrusive medical procedures, bespoke treatment strategies and immediate tracking, an upsurge in FDA approvals, and a heightened focus on preliminary diagnosis. Key trends for the forecasted period encompass the incorporation of artificial intelligence and machine learning, the utilization of portable and handheld NIR imaging mechanisms, the advent of NIR-enabled endoscopes, increasing consortiums and alliances, and automated and AI-based NIR imaging systems.
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What Are the Key Growth Drivers Fueling the Medical Near Infrared Imaging Market Expansion?
The escalating prevalence of key diseases is predicted to fuel the expansion of the medical near infrared imaging market in the future. The term 'target diseases' embodies specific health concerns that are the main concern of medical interventions, research, or medicinal development, often picked because of their commonality, intensity, or the presence of effectual treatments. The rise in targeted diseases is due to increased exposure to environmental and lifestyle risk variables that enhance the evolution of chronic and intricate conditions, these conditions necessitate specialized treatments. The role of medical near-infrared imaging in targeted diseases is crucial as it offers real-time, non-invasive depiction of tissues and molecular procedures, permitting early detection and precise oversight of treatment effects. For example, in January 2024, the American Cancer Society, a US-based philanthropic organization, projected that new cancer cases in the USA will escalate to 2.00 million in 2024, a rise from 1.96 million in 2023. Hence, the swell in the prevalence of target diseases is pushing the expansion of the medical near-infrared imaging market.
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Which Fast-Growing Trends Are Poised to Disrupt the Medical Near Infrared Imaging Market?
Major players in the medical near infrared imaging market are concentrating on the creation of cutting-edge products such as near infrared (NIR) laparoscopic imaging systems to improve surgical accuracy and enhance the immediate visualization of tissues. A NIR laparoscopic imaging system, a medical instrument utilizing near-infrared light, offers advanced imagery of tissues, blood vessels, and lymph nodes during minimally invasive laparoscopic surgeries. For example, in November 2024, the India-based medical tech company, Irillic Private Ltd., introduced Irillic L.nm, marking a significant advancement in surgical imaging technology being the first true 4K NIR laparoscopic imaging system in India. This innovative transition of fluorescence imaging from open surgeries to minimally invasive procedures provides surgeons with incomparable image clarity and real-time visual enhancements. Equipped with numerous sophisticated imaging modes such as AMVI (advanced microvascular imaging), depth contrast, color fusion, green fusion, and multiview, the system offers increased surgical precision and adaptability in complex procedures.
How Is the Medical Near Infrared Imaging Market Segmented?
The medical near infrared imaging market covered in this report is segmented -
1) By Product Type: Instruments, Accessories, Software
2) By Technology: Continuous Wave (CW) Near Infrared Imaging, Pulsed Wave Near Infrared Imaging, Time-Domain Near Infrared Imaging
3) By Application: Oncological Imaging, Dermatology, Cardiovascular Imaging, Neurological Imaging, Other Applications
4) By End-User: Hospitals, Diagnostic Centers, Research Institutions
Subsegments:
1) By Instruments: Near-Infrared Fluorescence Imaging Systems, Near-Infrared Spectroscopy Systems, Handheld Devices, Tabletop Systems, Portable Imaging Systems
2) By Accessories: Detectors And Sensors, Light Sources, Optical Filters, Imaging Lenses, Mounting Equipment
3) By Software: Image Analysis Software, Data Management Software, Workflow Integration Tools, Signal Processing Software, Artificial Intelligence-Powered Imaging Platforms
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Which Companies Are Leading the Charge in Medical Near Infrared Imaging Market Innovation?
Major companies operating in the medical near infrared imaging market are Hamamatsu Photonics K.K., Thermo Fisher Scientific Inc., Medtronic plc, Stryker Corporation, Olympus Corporation, Teledyne Technologies Incorporated, Nipro Corporation, PerkinElmer Inc., Shimadzu Corporation, Bruker Corporation, Karl Storz SE & Co. KG, Leica Microsystems GmbH, Oxford Instruments plc, Mizuho Medical Co. Ltd., LI-COR Inc., BIOPAC Systems Inc., Soterix Medical Inc., Artinis Medical Systems B.V., Gowerlabs Ltd., Quest Medical Imaging B.V.
Which Regions Are Leading the Global Medical Near Infrared Imaging Market in Revenue?
North America was the largest region in the medical near infrared imaging market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical near infrared imaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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