(EMAILWIRE.COM, September 11, 2024 ) Near infrared imaging Market in terms of revenue was estimated to be worth $1.0 billion in 2023 and is poised to reach $1.9 billion by 2028, growing at a CAGR of 14.0% from 2023 to 2028 according to a new report by MarketsandMarkets. The major factors driving the growth of this market include rising patient population, various chronic diseases, and technological advancements along with the increasing adoption of hybrid NIR imaging.
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Product segment to register significant growth rate over the forecast period of 2023-2028
Based on the product, the global the near-infrared imaging market is segmented into NIR devices, NIR imaging agents/probes and NIR dyes. The NIR device segment is anticipated to register the highest growth rate over the forecast period. The NIR device segment accounted for the highest share of the near infrared imaging market in 2022.
Procedure segment to register significant growth rate over the forecast period of 2023-2028
Based on the procedure, the near-infrared imaging market is segmented into cancer surgeries, gastrointestinal surgeries, cardiovascular surgeries, plastic/reconstructive surgeries, and ob/gyn surgeries and other applications. The cancer surgeries segment is anticipated to register the highest growth rate over the forecast period. The cancer surgeries segment accounted for the highest share of the near infrared imaging market in 2022.
Preclinical segment accounted for the largest share of the near infrared imaging market, by application in 2022.
Based on application, the global the near-infrared imaging market is segmented into preclinical imaging, clinical imaging, and medical imaging. Preclinical applications accounted for the largest share of the market in 2022 and is expected to grow at the highest CAGR during the forecast period.
Factors such as the rising incidence of cancer cases, the growing geriatric population, and the launch of integrated modalities drive the growth of PET products.
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The hospital and clinics segment accounted for the largest share of the near infrared imaging market, by end user, in 2022
Based on end user, the near-infrared imaging market is segmented into hospitals & clinics, research laboratories, and pharmaceutical & biotechnology companies. The hospital and clinic segment accounts for the largest share of the market in 2022. Factors attributing to the share of this particular are increasing cancer incidences and increasing number of dermatological surgeries performed in hospitals and clinics are driving the growth of this segment.
By region, North America is expected to be the largest region of the near infrared imaging industry during the forecast period
North America, comprising the US and Canada, accounted for the largest share of the near infrared imaging market in 2022. The large share of this market can primarily be attributed to the high healthcare spending, rising geriatric population, the rising prevalence of target diseases, growing number of cosmetic surgeries, ongoing research activities, and rapid adoption of technologically advanced imaging systems.
Recent Developments:
-As of 2020, in Sao Paulo, Brazil, there were ten radiologists for every 100,000 inhabitants, while in the northern part of the country, there were less than three radiologists for every 100,000 inhabitants.
-According to the report “The Value of Radiology” by the Canadian Association of Radiologists (CAR), there is a need for an estimated 1,700 new radiologists between 2019 and 2040. The report identified the inadequate distribution of medical imaging equipment and radiologists across the country, as well as ageing imaging equipment unable to keep up with demand. In addition, lost work time and wages from patients who take temporary leave from their jobs waiting for imaging diagnoses are estimated to cost the economy an average of USD 3.4 billion per year.
-In 2023, the American Society for Photobiology (ASP) published a report that found that there is a growing demand for NIR imaging professionals, but that the supply of trained professionals is not keeping pace. The report also found that many NIR imaging companies are struggling to find qualified employees.
