Near Infrared Imaging Market To 2026 –Industry Size, Share, Estimate And Future Growth

 

San Francisco, 18 Sep 2020: The Report Near Infrared Imaging Market Size, Share & Trend Analysis Report, By Product (Devices, Reagents), By Application (Cancer, Gastrointestinal), By End-use (Hospitals & Clinics) And Segment Forecasts 2019 - 2026

The global near infrared imaging market size is expected to reach USD 373.7 million by 2026, according to a new report by Grand View Research, Inc. expanding at a 4.1% CAGR during the forecast period. The growing use of near-infrared imaging due to advantages such as minimally invasiveness and high efficiency in diagnosing various conditions is anticipated to drive the near-infrared imaging market significantly during the forecast period.

Growing incidences of chronic disorders, especially among the geriatric population is fueling the near infrared imaging market. Alzheimer’s disease, dementia, arthritis, chronic kidney disease, and diabetes, are some of the commonly prevalent diseases that require near infrared imaging for better diagnosis and further decision making for effective treatment.

Expanding applications of the NIR technique in early diagnosis of various neurological conditions is expected to play a significant role in overall market growth. As per National Research University’s Higher School of Economics, neurological disorders are one of the leading causes of disability and death today. They were reported as the leading cause group of Disability Adjusted Life Years, which comprised 16.8% global deaths.

Frequent introduction of technologically advanced systems is expected to have a significant impact on market growth. NIR is preferred as a process monitoring tool, especially in the pharmaceutical industry. Expanding applications of NIR in commercial operations and research activities in biopharmaceutical companies, as well as academic institutes, are expected to fuel the demand for advanced NIR systems in upcoming years.

Access Research Report of Near Infrared Imaging Market @ https://www.grandviewresearch.com/industry-analysis/near-infrared-imaging-market

Recent Developments in Near Infrared Imaging Market

• In July 2020, a team of researchers led by the University of Adelaide and University of Stuttgart has used 3D micro-printing to develop the world's smallest, flexible scope for looking inside blood vessels. The camera-like imaging device can be inserted into blood vessels to provide high quality 3D images to help scientists better understand the causes of heart attack and heart disease progression and could lead to improved treatment and prevention. The technology uses near-infrared light to penetrate into tissue — measuring the wave interference between a reference beam and a probe beam to build up live 3D images that can look through surfaces within the body into the structures beneath at microscopic resolutions. This is one of the most innovative and potent usage of near-infrared imaging in the health care sector.
• In August 2020, Allegro MicroSystems (Allegro), a global leader in sensing and power semiconductor technology, announced the acquisition of Voxtel, Inc, a privately held company specializing in advanced photonic and 3D imaging technology including Near-Infrared Imaging. This acquisition brings together Voxtel’s significant laser and imaging expertise with Allegro’s automotive leadership and scale to enable the next generation of Advanced Driver Assistance Systems (ADAS). Together they are going to scale new heights in the field by being beneficial to each other.
• On May 15, 2019, KPM Analytics, provider of advanced instrumentation solutions successfully acquired Sensortech Systems, Inc. The acquisition is aimed at improving market share with an impeccable NIR experts’ group to offer quality solutions to customers, worldwide. Sensortech Systems, Inc., a market leader in innovative sensor components sees this acquisition as a great opportunity, especially to add the radiofrequency capabilities in the forthcoming technologies and providing superior products to the patients.
• In September 2019, fortune 500 medical technologies firm Stryker has signed an agreement to acquire Mobius Imaging and its sister company GYS Tech, also known as Cardan Robotics, for an upfront payment of approximately $370m in cash. Mobius was founded in 2008, and develops imaging technologies that can be integrated into pre-existing medical workflows to enhance clinicians’ ability to obtain high-quality images, and NIR imaging forms an important part of that. Stryker expects the acquisition of these companies to support its Spine division’s foray into the intra-operative imaging market.
• In July 2019, global medical device company, Stryker launched its state-of-the art Fluorescence Imaging (FI) technology, Spy-Phi, for better outcomes and safety of patients suffering from breast cancer. It is the only of its’s kind technology in the world which uses near-infrared fluorescence imaging during cancer surgery that allows real time, clinically significant and actionable information to improve quality of care and lower overall healthcare burden. The technology can be used in various procedures, but is especially helpful in mapping of lymphatics, identification of lymph nodes and confirming adequate tissue perfusion for safe breast reconstruction. Early identification eventually helps in removal and development of next line of treatment as well.
• In February 2019, On Target Laboratories, Inc., a privately held biotechnology company that is developing tumor-targeted fluorescent dyes to improve cancer surgery, announced that the protocol for the company's Phase 3 clinical trial, OTL38 for Intra-operative Imaging of Folate Receptor Positive Ovarian Cancer, was amended to allow the use of Quest Medical Imaging's Spectrum Platform camera system. This camera system equipped surgeons with a more fortified toolkit for detecting cancerous lesions and its usage in this process spoke volumes about its credibility and capability as a product.
• In September 2018, Karl Storz launched NIR/ICG Fluorescence Imaging, an IMAGE1 S technology. The only U.S. Food and Drug Administration-cleared ICG technology for endoscopic neurosurgery in a 4 mm format, the KARL STORZ NIR/ICG Imaging System assists surgeons in making critical decisions that may reduce the occurrence of costly complications. It enables live visualization of structural landmarks beneath the tissue surface, with no latency, using near-infrared (NIR) imaging to detect indocyanine green (ICG), an optical imaging agent administered to the patient during the procedure. This enables intraoperative evaluation of tissue perfusion and vascularization, identification of critical neurovascular structures, and differentiation of tissue planes between lesions and adjacent structures. Such a helpful is sure to boost the demands in the medical devices sector and is set to improve the growth rate of the market.

Access Press Release of Near Infrared Imaging Market @ https://www.grandviewresearch.com/press-release/global-near-infrared-imaging-market