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HEALTHCARE & PHARMACEUTICAL

Near-Infrared Fluorescence Imaging System Market Analysis by Type (Portable, Cart Based, and Others); by Light Source (Light Emitting, Laser Diodes, and Filtered Lamp Sources); by Application (Preclinical, Medical, and Clinical Imaging); by Indication (Gastrointestinal, Cardiovascular, Cancer, Plastic/Reconstructive Surgeries, and Others); and by End-User (Hospitals & Clinics, Research Labs, and Pharmaceutical Companies) – Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • April 7th, 2022: PerkinElmer, Inc. announced the launch of a preclinical ultrasound imaging system that is designed to accelerate non-invasive research and drug development studies on cancer, liver diseases, cardiology, and more.

  • November 15th, 2021: Medtronic plc announced that FDA has permitted 510(k) clearance to its PillCam Small Bowel 3 @HOME systems for remote endoscopy procedures, which provides telehealth options for direct visualization and monitoring of the small bowel.

Global Near-Infrared Fluorescence Imaging System Market Size, Forecast, and Trend Highlights Over 2022 - 2031

Near-Infrared Fluorescence Imaging System Market Regional Synopsis

The global near-infrared fluorescence imaging system market is estimated to garner a revenue of USD 1 Billion by the end of 2031 by growing at a CAGR of ~12% over the forecast period, i.e., 2022 – 2031. Further, the market generated a remarkable revenue in the year 2021. The growth of the market is primarily attributed to the worldwide growing counts for various types of surgical procedures. For instance, a striking 311 million major surgeries are carried out annually throughout the world.

Near-Infrared Fluorescence Imaging System Market Regional

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The near-infrared fluorescence (NIRF) imaging system is a recently developed clinical technique that transmits near-infrared excitation light to observe blood and lymph flow underneath the tissue surface while giving surgeons high - precision images of the targeted tissue. Furthermore, the worldwide increase in robotics surgeries are also fueling the demand of these imaging systems as the adoption of near-infrared fluorescence imaging system during robotic surgeries has a number of benefits, including successful outcomes, increased efficiency, and safety. For instance, each year, more than 610.000 robot-assisted procedures are performed.

Global Near-Infrared Fluorescence Imaging System Market: Growth Drivers and Challenges

Growth Drivers

  • Rapidly Growing Geriatric Population – Growing age brings several types of health issues, i.e., refractive errors, chronic obstructive pulmonary disease, hearing loss, and others. Thus, growing geriatric population is more tend to undergo of numerous types of surgical intrusion, that is fueling the demand of near-infrared fluorescence imaging system. As per the data released by the World Health Organization, in 2020, the proportion of the population aged 60 and up was increased from 1 billion to 1.4 billion.

  • Upsurge in Gastrointestinal Disorders - Gastrointestinal disorders affect the GI tract, which expanded from the mouth to the anus and result in irritable bowel syndrome, constipation, bloating and so on. Such health condition requires an appropriate treatment. It was observed that till 2021, 4 out of every 10 adults in the world had functional gastrointestinal disorders of severe forms.

  • Escalation in Cancer – Growing occurrence of several types of cancer is up surging the demand of early cancer detection and surgeries as well. As per the World Health Organization, nearly 10 million people were died from cancer worldwide in 2020.

  • Significant Increase in Reconstructive Surgeries - Reconstructive surgery corrects defects, i.e., birth, disease-related, and injury-related that has permanently effected some part of a person’s body. Currently, huge number of people have been going under reconstructive surgeries to fix out such condition. For instance, in 2020, nearly 6.5 million reconstructive surgical procedures were performed in the United States.

  • Growth in Healthcare Spending – As per the World Bank, as compared to 2018, worldwide healthcare expenditure increased to 9.83% in 2019.

Challenges

  • Availability of Other Alternative Imaging Techniques
  • High Prices of Near-Infrared Fluorescence Imaging System
  • Lack of Skilled Operators

The global near-infrared fluorescence imaging system market is segmented and analyzed for demand and supply by indication into gastrointestinal, cardiovascular, cancer, plastic/reconstructive surgeries, and others, out of which cancer segment is estimated significantly grow over the forecast period owing to the rising prevalence of numerous types of cancer on a worldwide scale. As per the World Health Organization, cancer is one of the primary reasons of death globally. The South-East Asia Region reported approximately 2.2 million new cases and 1.4 million cancer-related deaths in 2020, accounting for more than 1 in 10 of all deaths in the region.

Major Macro-Economic Indicators Impacting the Market Growth

Near-Infrared Fluorescence Imaging System Market Regional

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Near-Infrared Fluorescence Imaging System Market Regional Synopsis

Regionally, the global near-infrared fluorescence imaging system market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America region is projected to hold the largest market share by the end of 2031 backed by the rapid adoption of technically advanced medical devices, increasing number of cancer cases, rise in the count of surgical procedures, and increasing disposable income in the region. It is observed that, approximately 41 to 52 million surgical procedures are performed each year in the United States.

Near-Infrared Fluorescence Imaging System Market Regional Synopsis

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The global near-infrared fluorescence imaging system market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global near-infrared fluorescence imaging system market includes the following segments:

By Type

  • Portable
  • Cart Based
  • Others

By Light Source

  • Light Emitting
  • Laser Diodes
  • Filtered Lamp Sources

By Application

  • Preclinical
  • Medical
  • Clinical Imaging

By Indication

  • Gastrointestinal
  • Cardiovascular
  • Cancer
  • Plastic/Reconstructive Surgeries
  • Others

By End-user

  • Hospitals & Clinics
  • Research Labs
  • Pharmaceutical Companies
 

Top Featured Companies Dominating the Global Near-Infrared Fluorescence Imaging System Market

  • Agilent Technologies, Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Thermo Fisher Scientific Holdings, Inc.
  • Medtronic plc
  • Teledyne FLIR LLC
  • PerkinElmer, Inc.
  • Shimadzu Corporation
  • Carl Zeiss Meditec AG
  • Quest Medical Imaging BV
  • JASCO
  • Bruker Corporation

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