In 2022, the global near infrared imaging market reached a valuation of USD 2.06 billion and is projected to expand at a compound annual growth rate (CAGR) of 3.9% from 2023 to 2030. This growth is expected to be driven by a rise in the prevalence of diseases that benefit from near infrared imaging, including cardiovascular diseases (CVDs), gastrointestinal issues, neurovascular conditions, and various forms of cancer. According to the World Health Organization (WHO), CVDs alone are responsible for approximately 17.9 million deaths globally each year. Additionally, there is a growing demand for advanced fluorescence imaging systems, which is further bolstered by initiatives from major industry players to innovate and enhance imaging technology. For example, in September 2022, a partnership among Sony, Olympus, and Sony Olympus Medical Solutions led to the development of a state-of-the-art surgical endoscopy system that offers 4K, 3D, and infrared imaging capabilities.

The increasing adoption of surgical interventions is also a key factor fueling demand for visualization equipment like near infrared imaging devices. With the rise of microsurgery and other precision surgical techniques, driven by the need to address chronic diseases stemming from stress, poor dietary habits, sedentary lifestyles, and genetic factors, these imaging systems are becoming more widely utilized. Furthermore, as awareness grows about the benefits of timely surgical intervention for various medical conditions, demand for surgical procedures—and, consequently, for near infrared imaging—continues to rise. Data from the American Society of Plastic Surgeons (ASPS) reveals that in 2020, approximately USD 16.7 billion was spent on cosmetic procedures in the United States alone, reflecting a significant demand that impacts the overall market for near infrared imaging technology positively.

The aging global population is also placing increasing demands on healthcare systems, intensifying the need for efficient diagnostic and surgical solutions like near infrared imaging. The WHO’s Global Health and Aging report anticipates that the number of people aged 65 and older will rise from around 524 million in 2010 to nearly 1.5 billion by 2050, with a notable portion of this growth in developing economies. This demographic shift is expected to increase the application of near infrared imaging across medical settings, further contributing to the market’s expansion.

Gather more insights about the market drivers, restrains and growth of the Near Infrared Imaging Market

Regional Insights

North America:

North America led the near infrared imaging market in 2022, accounting for the largest revenue share of 40.49%, and is expected to continue expanding with a growth rate exceeding 4.0% through the forecast period. The region's market growth is primarily driven by high consumer disposable income, rapid adoption of advanced medical technologies, and well-established diagnostic infrastructure. In the United States, for instance, a high incidence of cancer cases is a significant factor promoting the adoption of near infrared imaging. According to the International Agency for Research on Cancer, around 2.28 million new cancer cases were reported in the U.S. in 2020. Furthermore, the rising prevalence of reconstructive and cosmetic surgeries, spurred by greater healthcare spending and awareness around early diagnostic measures, is anticipated to create robust growth opportunities in the region.

Asia Pacific:

In the Asia Pacific region, the near infrared imaging market is projected to experience the fastest CAGR over the forecast period. Key developing economies such as China, India, and Japan are expected to fuel market growth due to their large population base and increasing demand for affordable healthcare solutions. With lower per capita income across parts of Asia Pacific, there is a pressing demand for cost-effective medical treatments. Multinational companies have shown interest in investing in countries like Japan, India, and South Korea, with several forming strategic partnerships with local entities. This trend of alliances is anticipated to support the market expansion in the region by enhancing the availability and accessibility of near infrared imaging technology across Asia Pacific.

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Key Companies & Market Share Insights

Leading companies in the near infrared imaging market are actively pursuing growth strategies to expand their market presence and drive technological innovation. These strategies include new product launches, geographic and operational expansion, strategic collaborations, partnerships, and acquisitions to strengthen their offerings and broaden their reach.

A notable example is KARL STORZ, which in January 2021 launched the IMAGE1 S Rubina multimode visualization system, a cutting-edge advancement in endoscopic imaging technology. This system integrates high-resolution 4K imaging with advanced fluorescence-guided imaging capabilities using indocyanine green (ICG) dye and near-infrared (NIR) light. The IMAGE1 S Rubina system allows for enhanced visualization of tissue structures during surgical procedures, providing clinicians with clearer and more detailed images that improve precision and patient outcomes. By offering this combination of 4K resolution and superior fluorescence imaging, KARL STORZ has set a new standard in endoscopic visualization technology, reinforcing its competitive position in the market.

Key Near Infrared Imaging Companies

Some of the prominent players in the near infrared imaging market include:

• Quest Medical Imaging B.V.
• Stryker
• KARL STORZ SE & Co. KG
• Olympus
• Hamamatsu Photonics K.K
• Mizuho Medical Co, Ltd.
• Shimadzu Corporation
• Leica Microsystems
• Medtronic (Visionsense)
• PerkinElmer, Inc.
• Carl Zeiss Meditec
• Fluoptics

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