Near infrared medical imaging, also known as near infrared spectroscopy, uses near infrared light waves of wavelength between 650 to 950 nm to non-invasively probe the oxygenation and concentration of hemoglobin in the muscles, brain, and other tissues. The near infrared diagnostic imaging modality is advantageous over various other existing radio-imaging techniques due to its non-invasive nature that facilitates repeated usage of this technique on the patient without any side effects and harm. Moreover, specific absorption by natural chromophores allows to obtain functional information of the patient such as the concentration of oxy-hemoglobin within particular tissues. A variety of possible clinical applications are focused in near infrared (NIR) medical imaging research and most importantly, highlights development of a technique for screening of breast cancer. Moreover, near infrared imaging is advantageous in terms of portability and cost-effectiveness. This technique involves use of incoherent light source that is typically safer than that of the strong invasive lasers used in the invasive imaging techniques such as electroencephalography (EEG), positron emission tomography (PET), and others. Furthermore, the near infrared imaging allows considerable motion to the patient undergoing the test, which again serves as an advantage when compared to the other existing alternatives.

Market Dynamics

Increasing incidences of cancer and neurological diseases that demand imaging techniques for their diagnosis are expected to foster growth of near infrared medical imaging market. For instance, according to the World Cancer Research Fund International, breast cancer was reported to be the most common type of cancer detected in females with nearly 1.7 million new cases diagnosed in 2012. The data also suggests that this number is expected to increase by 2020 across the globe. Moreover, increasing prevalence of neurological disorders such as Alzheimer’s disease, epilepsy, dementia, and other diseases are also driving growth of global near infrared medical imaging market. According to the World Health Organization 2016, hundreds of millions of people are affected worldwide due to neurological disorders. The data suggests that over 50 million people across the globe suffer from epilepsy, whereas around 47.5 million people are suffering from dementia and around 7.7 million new cases are reported every year. However, high penetration of alternative medical imaging techniques in the market is expected to hinder the market growth over the forecast period.

Key Developments in Near Infrared Medical Imaging Market

  • In April 2018, Shimadzu Corporation launched its new LIGHTVISION near-infrared fluorescence imaging system. The system is designed to support breast cancer treatment through the visualization of lymph vessels and blood vessels based on the detection of near-infrared fluorescent light emitted from indocyanine green (ICG). With this launch, the company entered into medical near-infrared camera market.
  • In December 2018, KARL STORZ Endoscopy-America, Inc., a manufacturer of endoscopy, imaging and operating room integration solutions, launched NIR/ICG Fluorescence Imaging, an IMAGE1 S technology. It is a 4 mm Endoscopic NIR/ICG Fluorescence Imaging System, designed to enhance minimally invasive neurosurgery.
  • In August 2019, Stryker launched Fluorescence Imaging (FI) technology, Spy-Phi, for mapping of lymphatics, identification of lymph nodes and confirming adequate tissue perfusion for safe breast reconstruction. New technology uses near infrared technology and indocyanine green (ICG) dye

Regional Insights

On the basis of region, the global near infrared medical imaging market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds a dominant position in the global near infrared medical imaging market and is expected to retain its dominance over the forecast period, owing to large population suffering from breast cancer and other neurological diseases. According to the American Cancer Society, invasive breast cancer was diagnosed in around 231,840 patients in the U.S. in 2015. Furthermore, key players in the market are introducing novel products, which is expected to aid in growth of the market in the region. For instance, in April 2017, Leica Microsystems introduced augmented reality near infrared fluorescence integrated imaging system GLOW800 at the American Association of Neurological Surgeons (AANS) Annual Scientific Meeting that facilitates full visual spectrum of white light into a single, real-time image. Asia Pacific is expected to witness a significant growth in the market, owing to increasing investments by international players by collaborating with regional players in the market. For instance, in June 2012, Infradex, Inc., a medical device company signed an exclusive agreement with Nipro Corporation for the distribution of TVC near infrared spectroscopy imaging system in Japan.

Competitive Landscape

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. among others. Market players are focused on providing technologically advanced products to sustain their position in the competitive market. For instance, in April 2018, Shimadzu Corporation introduced new LIGHTVISION near-infrared fluorescence imaging system for visualizing lymph nodes and blood vessels for the diagnosis and treatment of breast cancer.

Market Taxonomy

On the basis of product type, the global near infrared medical imaging market is segmented into:

  • Near Infrared Fluorescence Imaging Devices
  • Near Infrared Bioluminescence Imaging Devices

On the basis of application, the global near infrared medical imaging market is segmented into:

  • In-vivo Imaging
  • Cancer Surgeries
  • Cardiovascular Surgeries
  • Gastrointestinal Surgeries
  • Plastic/Reconstructive Surgeries
  • Others

On the basis of end user, the global near infrared medical imaging market is segmented into:

  • Hospitals
  • Diagnostic Centers
  • Research Laboratories
  • Others

On the basis of geography, the global near infrared medical imaging market is segmented into:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users