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Hyperspectral Imaging Market – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016–2024
Increasing deployment of hyperspectral imaging in healthcare sector creates a highly conducive environment for growth of the hyperspectral imaging market in the near future. Hyperspectral imaging finds wide application in medical imaging, ophthalmology, and is also used in the procedures of gastrointestinal tract, in vascular systems and in tissue diagnosis. It is also an integral part of wound analysis, cell biology, and fluorescence microscopy. Wide application of the technology is mainly attributed to its high accuracy and clarity.
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Hyperspectral imaging market taxonomy:
Global Market by Product Type
Hyperspectral Imaging Cameras
Other accessories
Global Market by Application
Diagnostic Imaging
Biological (Wound Analysis, cell biology and fluorescence microscopy)
Ophthalmology
Pharmaceutical (Drug quality analysis)
Surgery
Global Market by Geography
North America
Europe
APAC
Latin America
Middle East
Africa
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Increasing adoption in pharmaceuticals sector fueling growth of the hyperspectral imaging market, especially in emerging economies
The global hyperspectral imaging systems market globe is expected to witness double digit growth in the near future. In healthcare sector, these systems are used to perform various procedures in the pharmaceuticals industry. These include systems used to perform quality control tests that help detect foreign material present in drugs, and also mixed chemicals in counterfeit drugs. Also, hyperspectral imaging systems help in identification of targeted tumor tissue, a blood vessel, lymph nodes, a nerve bundle by covering the surface area of target and providing the image, in which that pixels of the image contains information regarding various light wavelength bands. Also, hyperspectral imaging finds extensive application in cancer treatment, as these systems provide real-time data and help in understanding the changes of tissue, which occur in the early stages of development of disease, also it helps to differentiate healthy cells from cancerous cells.
North America holds the largest share in the global hyperspectral imaging systems market, followed by Europe. This is mainly attributed to high healthcare spending, robust healthcare infrastructure, and inclination towards adoption of novel technologies. Also, the market in APAC region is projected to witness high growth rate over the next few years, due to increasing economic growth and developing healthcare sector.
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Growth factors and restraints of the hyperspectral imaging market
The innovative products with advanced technology, high patient and operator safety, superior accuracy and consistency are the leading factors driving growth of the hyperspectral imaging market. The major challenge in this market is high cost of this systems, lack of awareness about the applications of these systems, dearth of skilled operators, high investment costs and implementation of healthcare regulatory policies that delay approval for this systems in some regions.
Some are the key companies providing innovative products in this area are Headwall Photonics, HyperMed Imaging, Inc, Spectral Imaging Ltd., imec, Norsk Elektro Optikk AS (NEO), SpekLED GmbH and Resonon.
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