Near infrared medical imaging devices use light in the near-infrared range of the electromagnetic spectrum to diagnose a variety of medical conditions. These include brain function monitoring devices, optical imaging systems to assist surgeries, and optical tomography systems for diagnosis of cancer, cardiovascular diseases, and other tissue abnormalities. The global near infrared medical imaging market offers significant growth opportunities owing to advantages such as non-invasiveness, portability, no use of ionizing radiations, real-time dynamic imaging, and high resolution.

The global near infrared medical imaging Market is estimated to be valued at US$ 1.76 Bn in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics

The growth of the near infrared medical imaging market is primarily driven by the increased demand for non-invasive diagnostic procedures from patients and healthcare providers. Near infrared technology enables non-invasive procedures that help avoid patient discomfort and risks associated with invasive tests. Moreover, the increasing prevalence of chronic and life-threatening diseases is prompting healthcare providers to adopt advanced diagnostic tools like near infrared imaging systems for quick and early detection. According to the World Health Organization, cardiovascular diseases are the leading cause of deaths globally, taking an estimate of over 17.9 million lives each year. Near infrared medical imaging finds wide application in cardiology for diagnosis and monitoring purposes.

Another key driver favoring the near infrared medical imaging market growth is the technological advancements in infrared cameras, imaging software, probe designs, and contrast agents. Ongoing research focuses on enhancing the diagnostic capabilities, portability, ease of use, and affordability of near infrared medical imaging devices. This will enable wider adoption across healthcare facilities.

SWOT Analysis

Strength: Near Infrared Medical Imaging has promising applications in cancer diagnosis and surgery. It can identify tumor margins in real time with high resolution images allowing for precise tumor resection. It provides valuable biochemical and functional information about tissues with minimal risks or costs compared to other imaging techniques.

Weakness: Availability of near infrared medical imaging systems is currently limited mainly to developed regions. Systems are expensive requiring large capital investments limiting widespread adoption. Image quality can still be improved and standardization of techniques is needed for uniform clinical protocols.

Opportunity: Rising incidences of cancer and increasing demand for minimally invasive surgery presents a large untapped market. Adoption in emerging economies with growing healthcare investments offers vast opportunities. Integration with other modalities such as ultrasound or MRI can provide multi-parametric functional images enhancing diagnosis.

Threats: Established modalities such as MRI, CT, PET continue to see technological advancements threatening near infrared's niche applications. Reimbursement policies have yet to recognize its benefits and high costs present entry barriers. Lack of trained professionals limits operationalizing available systems.


Key Takeaways

The Global Near Infrared Medical Imaging Market Size is expected to witness high growth over the forecast period driven by rising cancer prevalence worldwide. The global near infrared medical imaging Market is estimated to be valued at US$ 1.76 Bn in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023 to 2030.

The Americas currently dominate the market owing to extensive research and early adoption of advanced medical imaging systems. Asia Pacific is expected to be the fastest growing region with China, India, Japan and South Korea emerging as major hubs of innovation and manufacturing. The Asia Pacific region is projected to grow at the highest CAGR during the forecast period. This is attributed to factors such as increasing healthcare investments, large patient population, growing incidences of chronic diseases, improving regulatory guidelines and rising medical tourism. The dominant players are expanding their manufacturing facilities and distribution networks in emerging countries to tap the growth opportunities.

Key players: Key players operating in the Near Infrared Medical Imaging market are GIDS GmbH, Kimball Physics, Phosphor Technology Ltd, Dr. Gassler Electron Devices, Hamamatsu Photonics, K. K., Scintacor, Koninklijke Philips N.V., Stanford Computer Optics, Inc, Konica Minolta, Inc. and others. These players are focusing on new product launches, collaborations and acquisitions to strengthen their market position and presence in regional markets.

For More Insights, Read: https://www.newsstatix.com/near-infrared-medical-imaging-market-demand-growth-and-regional-outlook-by-2030/