Near-Infrared Imaging Market Size to Reach USD 1,535.0 Million in 2028 | Rise in Number of Surgeries Being Conducted Due to Increasing Prevalence of Chronic Diseases Is a Key Factor Driving Industry Growth, says Emergen Research
Vancouver, British Columbia, March 23, 2021 (GLOBE NEWSWIRE) — The global near-infrared imaging market size is expected to reach USD 1,535.0 Million at a steady CAGR of 13.2% in 2028, according to latest analysis by Emergen Research. High revenue growth of the global near-infrared imaging market can be attributed to rising number of surgeries being performed globally due to increasing prevalence of chronic diseases and conditions. Near-infrared imaging technology finds significant application in delivering real-time images of the internal structures of the human body to provide guidance during surgeries and to avoid damage or touching of nerves and blood vessels or while removing tumors. Various near-infrared imaging systems developed for assistance during surgeries are presently in preclinical and clinical development phases, with a few having received clearance for restricted clinical use. Near-infrared imaging systems are witnessing high and further increasing demand owing to ability of such systems to improve surgery outcomes and decrease healthcare expenses as a result of more enhanced tissue penetration depth and contrast than visible light.
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Some Key Highlights in the Report
- In August 2020, FluoGuide A/S made an announcement about entering into a supply and licensing agreement with LI-COR Biosciences. The agreement is intended to enable FluoGuide to improve the uPAR-targeted products’ clinical and commercial potential in fluorescent-guided cancer surgery.
- The ICG (Indocyanine Green) reagent is a relatively hydrophobic and water-soluble dye with the ability to bind plasma protein. ICG reagent finds application as a real-time contrast agent in near-infrared imaging. ICG reagent finds widespread use as fluorescent contrast agent in ocular angiography and hepatic function assessment. Also, ICG is a low-toxicity commercial non-ionizing agent approved by FDA.
- Near-infrared imaging enables real-time visualization of the bowel micro-perfusion during surgery. Near-infrared imaging technology is considered highly beneficial in evaluating bowel vascularization to be anastomosed.
- By end-use, the hospitals segment accounted for largest revenue share in 2020, which can be attributed to factors such as increasing number of patients suffering from chronic diseases such as cancer and cardiovascular disease and increasing number of sufferers needing admission and care at hospitals. Other factors include high purchasing power, well-established healthcare and imaging facilities, and availability of expert healthcare professionals, especially in developed countries in regions such as North America and Europe.
- Near-infrared imaging market in Asia Pacific is expected to register fastest revenue CAGR during the forecast period, which can be attributed to rising prevalence of cardiovascular diseases and cancers, and a rapidly increasing geriatric population in countries in the region. In addition, rising disposable income and increasing healthcare expenditure are causative of rapid revenue growth of the market in the region, and the trend is expected to continue going ahead.
- Key players in the market include Olympus Corporation, Stryker Corporation, Quest Medical Imaging BV, Carl Zeiss Meditec AG, PerkinElmer Inc., Medtronic PLC, KARL STORZ SE & Co. KG, LI-COR Inc., Shimadzu Corporation, and Leica Microsystems.
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Emergen Research has segmented the global near-infrared imaging market on the basis of product type, application, end-use, and region:
- Product Type Outlook (Revenue, USD Million; 2018–2028)
- Application Outlook (Revenue, USD Million; 2018–2028)
- Cancer Surgeries
- Cardiovascular Surgeries
- Gastrointestinal Surgeries
- Reconstructive Surgeries
- Preclinical Imaging
- End-Use Outlook (Revenue, USD Million; 2018–2028)
- Pharmaceutical Companies
- Research Institutes
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- Regional Outlook (Revenue, USD Million; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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