Near Infrared Medical Imaging Market: Witnessing High Growth Owing to Technological Advancements and Increasing Demand for Non-Invasive Imaging
Near Infrared Medical Imaging Market |
The global Near
Infrared Medical Imaging Market is estimated to be valued at US$2.06 billion in
2022 and is expected to exhibit a CAGR of 3.9% over the forecast period
(2023-2030), as highlighted in a new report published by Coherent Market
Insights.
Near-infrared medical
imaging technology uses near-infrared light to capture images of internal body
structures, providing valuable insights for diagnosis and treatment planning.
It has a wide range of applications in various medical fields, including
oncology, neurology, cardiology, and orthopedics. Near-infrared medical imaging
devices enable non-invasive imaging, reducing patient discomfort and improving
diagnostic accuracy. The market is driven by the increasing demand for advanced
imaging technologies and the growing focus on personalized medicine. Moreover,
the integration of artificial intelligence and machine learning algorithms with
near-infrared medical imaging devices further enhances their diagnostic
capabilities.
The near-infrared
medical imaging market is primarily driven by two key factors: technological
advancements and increasing demand for non-invasive imaging. Technological
advancements have led to the development of innovative imaging devices that
offer improved image quality, faster scanning times, and enhanced diagnostic
accuracy. For example, companies like Bruker Corporation and Carl Zeiss Meditec
AG have introduced compact and portable near-infrared imaging devices that are
easy to use and provide real-time imaging results. Additionally, the increasing
demand for non-invasive imaging procedures is fueling the adoption of
near-infrared medical imaging devices. Patients and healthcare professionals
are increasingly preferring non-invasive imaging techniques due to their
safety, convenience, and reduced risk of infections and complications.
In the near-infrared medical imaging market, the portable devices segment is dominating the market. Portable devices offer several advantages, such as ease of use, flexibility, and improved patient comfort. These devices are widely used in ambulatory care settings and home healthcare facilities. Moreover, the neurology segment is the fastest-growing segment due to the rising prevalence of neurological disorders and the increasing demand for accurate diagnostic imaging tools.
D) PEST Analysis:
Political stability
and favorable government initiatives supporting the adoption of advanced
medical technologies are driving the growth of the near-infrared medical
imaging market. Economically, the increasing healthcare expenditure and growing
private investment in healthcare infrastructure are propelling market growth.
Socially, the rising awareness about early disease detection and the importance
of regular screenings are driving the demand for near-infrared medical imaging
devices. Technologically, the integration of artificial intelligence and
machine learning algorithms with near-infrared imaging devices is enhancing
their diagnostic capabilities and expanding their applications.
E) Key Takeaways:
- The global Near
Infrared Medical Imaging Market is expected to witness high growth,
exhibiting a CAGR of 3.9% over the forecast period, due to increasing
technological advancements and the growing demand for non-invasive imaging.
- North America is the
fastest-growing and dominating region in the near-infrared medical imaging
market. The region's strong healthcare infrastructure, favorable reimbursement
policies, and increasing investments in research and development contribute to
market growth.
- Key players
operating in the global near-infrared medical imaging market include Bruker
Corporation, Carl Zeiss Meditec AG, Shimadzu Corporation, PerkinElmer, Inc.,
MIZUHO Corporation, Karl Storz GmbH, and NOADAQ Technologies, Inc. These
companies focus on product development, strategic collaborations, and mergers and
acquisitions to gain a competitive edge in the market.
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