Near infrared imaging Market worth $1.6 billion by 2028

The report "Near infrared imaging Market by Product (Imaging System, Probe, Dye (Organic, Nanoparticle)), Procedure (Cancer, CVD, GI, OB/GYN), Application (Preclinical, Clinical, Medical), End User (Hospital, Pharma, Research Lab) & Region - Global Forecasts to 2028", is projected to reach USD 1.6 billion by 2028 from USD 1.0 billion in 2023, at a CAGR of 10.2% from 2023 to 2028. 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.

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.

The Asia Pacific market to register a significant growth in the market during the forecast period

The Asia Pacific near infrared imaging market is estimated to register a significant growth from 2023 to 2028. The increasing patient population, rising geriatric population, rapid economic growth and increasing disposable income are driving the market growth in APAC countries. This region is having a rise in healthcare investment and expenditure, offering significant growth opportunities for the key players.

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Near infrared imaging Market Dynamics:

Drivers:

Increasing number of surgical procedures

Restraints:

High Capital and Operational Cost

Opportunities:

Use of blockchain in imaging

Challenges:

Hospital budget cuts

Key Market Players:

prominent players in the near infrared imaging market are Stryker (US), KARL STORZ SE & Co. KG (Germany), Carl Zeiss Meditec AG (Germany), Leica Microsystems (US), Olympus Corporation (Japan), PerkinElmer, Inc. (US), LI-COR, Inc. (US), and Medtronic (Ireland),

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