Hyperspectral Imaging is a novel method of analysis built on spectroscopy technique. It collects hundreds of images of the sample such as cancer tissue etc. at different wavelengths for the same spatial (occupying) area. With fine wavelength resolution, hyperspectral imaging measures the continuous spectrum of the light for each pixel of the scene in both the visible and near-infrared ranges. Hyperspectral Imaging have wide range of applications in agriculture, biomedical imaging, molecular biology, food processing, remote sensing etc. Apart from this, hyperspectral imaging plays an important role in health care sector with advantages such as,
Global Hyperspectral Imaging Market - Impact of the Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic is expected to drive growth of the global hyperspectral imaging market, owing to use of hyperspectral imaging for the detection of viruses. For instance, in 2021, according to the article published in the National Center for Biotechnology Information, combining hyperspectral imaging with nanomaterial created a diagnostic platform for very sensitive COVID-19 virus identification. For detection of COVID-19 virus, assay was carried out using ultrasensitive hyperspectral sensor (HyperSENSE) based on hafnium nanoparticles. It was found that the assay has a turnaround time of a few seconds and has a limit of detection that is 1,000,000,000 times greater than the COVID-19 tests that are currently on the market.
Increasing research to develop new techniques for the detection of COVID-19 virus, expected to drive the growth of hyperspectral imaging market. For instance, according to the Dimension publication, in 2020 a research proposal is been proposed for COVID-19 real time detection through Hyperspectral Analysis of Sweat Metabolite Biometrics. The proposed study will develop a new hyperspectral imaging technique to obtain sweat metabolites specifically impacted by COVID-19 to be processed through pattern recognition strategies.
The global hyperspectral imaging market is estimated to be valued at US$ 287.9 Mn in 2022 and is expected to exhibit a CAGR of 15.2% over the forecast period (2022-2030)
Figure 1: Global Hyperspectral Imaging Market Share, (%), Analysis, By Application, 2022
Market players are launching new product in order to increase their product portfolio. This is expected to drive growth of global hyperspectral imaging market over the forecast period.
Market players are involved in the launching of new product expected to drive the growth of global hyperspectral imaging market in forecast period. For instance, on March 2, 2022, Swift Medical, a digital wound care management company, launched all-in-one hyperspectral imaging device named Swift Ray 1. Swift Ray is a hardware device that wirelessly connects to a camera of smartphone and records extensive clinical data to enable the assessment, treatment, and monitoring of skin and wounds issues.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2022: | US$ 287.9 Mn |
| Historical Data for: | 2018 to 2020 | Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 15.2% | 2030 Value Projection: | US$ 892.4 Mn |
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| Companies covered: |
Brandywine, ClydeHSI, Corning Incorporated, Cubert, CytoViva, Inc, Diaspective Vision GmbH, Headwall Photonics Inc., Imec, Inno-Spec GmbH, Norsk Elektro Optikk A/S, Orbital Sidekick, Photon etc., Resonon Inc., Specim Spectral Imaging Ltd., Surface Optics Corp, Ximea. |
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Market players are involved in developing new imaging technologies, expected to drive the growth of global hyperspectral imaging market over the forecast period.
Market players are involved in developing new imaging cameras that enable us to view a variety of things that were previously invisible. This is expected to drive the growth of global hyperspectral imaging market during forecast period. For instance, on April 01, 2022, Valtion teknillinen tutkimuskeskus (VTT), a technical research center, is developing new technologies like hyperspectral cameras and radar technology. These new technology frequently uses machine learning and big data which gives us new views on thing such as skin and body, through this technology dermatologists can identify skin cancers and detect their early stage.
Global Hyperspectral Imaging Market – Restraints
High cost of the hyperspectral imaging materials is one of the big restrain for the growth of global hyperspectral imaging market. For instance, Imec Snapscan VNIR range hyperspectral imaging camera coast US$ 20,000.00 per pic. The cost of installing hyperspectral camera and its maintenance is too high, this can bring slow growth to the hyperspectral imaging product market. The high expenses associated with using hyperspectral imaging are likely to hamper market expansion during the forecast period.
Global Hyperspectral Imaging Market – Regional Analysis
On the basis of region, the global hyperspectral imaging market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa
Among regions, North America hyperspectral imaging market is expected to hold a dominant position during the forecast period, owing to increasing product approvals by health technology companies. For instance, on April 1, 2022, Revenio, a health technology corporation has provided official licensed for the development of hyperspectral imaging technology at VTT through which dermatologists can recognize skin cancers and their early stages, a research institutions. VTT, has produced hyperspectral technology parts which can fit into mobile devices
In Asia Pacific, China in expecting growth in hyperspectral imaging market, owing to increasing in application of hyperpectral imaging in medical filed. For instance, the review article published in January 04, 2022, by Springer, discussed about current advances, imaging methods, basic principles, camparisons of the hyperspectral imaging in medical applications. The research article highlighted the study of dependable medical hyperspectral imaging tools. Published research data related to the application and trends of hyperpectral imaging in medical filed, look forward to spread the knowledge of hyperspectral imaging technology among the population. Through which expected to increase the hyperpectral imaging market in china.
Figure 2: Global Hyperspectral Imaging Market (US$ Bn), by Region, 2022
Global Hyperspectral Imaging Market – Competitive Landscape
Major players operating in the global hyperspectral imaging market include Brandywine, ClydeHSI, Corning Incorporated, Cubert, CytoViva, Inc, Diaspective Vision GmbH, Headwall Photonics Inc., Imec, Inno-Spec GmbH, Norsk Elektro Optikk A/S, Orbital Sidekick, Photon etc., Resonon Inc., Specim Spectral Imaging Ltd., Surface Optics Corp, Ximea.
Hyperspectral Imaging is a scientific method in view of spectroscopy. It gathers many pictures at various frequencies for a similar spatial region. Hyperspectral imaging estimates the persistent range of the light for every pixel of the scene with fine frequency goal, in the apparent as well as in the close infrared. The gathered information structure a purported hyperspectral 3D square, in which two aspects address the spatial degree of the scene and the third its otherworldly substance.
Moreover, Hyperspectral imaging is increasing filed in pharmaceutical industries, health care sector, food industries etc., in pharmaceutical industries. It is used to detect and quantify chemical components of a drug. In medical sector, Hyperspectral imaging is used detect cancer tumor, used in ease diagnosis and image-guided surgery. This procedure includes the joined use of spectroscopy and imaging. Hyperspectral imaging techniques can additionally offer spectral information for each pixel in a picture along with spatial information, like with standard imaging systems,
Market Dynamics
Market players are involved in launching new hyperspectral imaging product, which is expected to drive the growth of global hyperspectral imaging market, over the forecast period. For instance, on October 28, 2020, Specim, Spectral Imaging ltd, a manufacturer of imaging spectrographs, hyperspectral cameras and systems launched a SpecimONE spectral imaging platform for the industrial sorting market. SpecimONE will help pharmaceuticals industries to create unlimited number of new sorting application without coding or in-depth knowledge of hyperspectral imaging.
Market players are engaged in inorganic growth activities such as partnerships, and this is expected to drive growth of the global hyperspectral imaging market, over the forecast period. For instance, in 2018, Integro Technologies, computer consultant partnered with Specim, Spectral Imaging ltd, a manufacturer of imaging spectrographs, hyperspectral cameras and systems. The partnership was made to provide hyperspectral imaging solutions for the pharmaceutical industry such as for quality assurance of pharmaceutical products based on their chemical composition.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
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