Near Infrared Imaging/NIR Market Analysis And Forecast To 2031: By Product (Devices, {Near-Infrared Fluorescene Imaging Systems, Near-Infrared Fluorescene And Bioluminescene Imaging Systems}, Reagents), By Application (Preclinical Imaging, Cancer Surgerie

Near Infrared Imaging/NIR Market Analysis And Forecast To 2031: By Product (Devices, {Near-Infrared Fluorescene Imaging Systems, Near-Infrared Fluorescene And Bioluminescene Imaging Systems}, Reagents), By Application (Preclinical Imaging, Cancer Surgeries, Gastrointestinal Surgeries, Cardiovascular Surgeries, Plastic/Reconstructive Surgerie), By End-Use (Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Research Laboratories), And Region

The global near infrared imaging/NIR market was valued at USD 216.7 million in 2021 and it is anticipated to grow up to USD 614.5 million by 2031, at a CAGR of 11.0% during the forecast period.

Near infrared imaging uses light between 650 to 950 nm to detect any changes induced, injury, or disease. It is a powerful diagnostic tool for minimally invasive and nonionizing method for tissue imaging. NIR are not absorbed well by the blood or water, which are the main components of tissues, thus increases the changes of illumination for internal structures. It is advantageous over other techniques since it provides better resolution and is less harmless to patients.

Market Trends and Drivers

Growing number of surgical procedures globally will positively impact the market growth. Globally, the number of surgical procedures is on the rise owing to the rising prevalence and incidence of various diseases such as cancer, cardiovascular diseases, neurovascular diseases, and gastrointestinal diseases. Surgical cosmetic procedures and trauma cases are also contributing to the increasing number of surgical procedures. NIR imaging is used for intraoperative imaging during various surgical procedures, such as plastic and reconstructive surgeries, oncology surgeries, gastrointestinal surgeries, cardiovascular surgeries, cardiothoracic surgeries, and neurovascular surgeries. NIR imaging enables surgeons to assess blood flow, tissue viability, and perfusion during these surgeries. In cancer surgeries, NIR imaging is used to establish positive margins that help in the demarcation of cancerous tissues versus normal tissues. Therefore, the increasing number of surgical procedures is expected to drive the NIR imaging market.

Market Restraints and Challenges

Prolonged approval process may hinder the industry growth to some extent. There are only two FDA-approved NIR fluorophores—indocyanine green (ICG) (approved for clinical use in 1959) and methylene blue (MB). However, both ICG and MB are blood pool agents that have no specificity for tumors or normal tissues and are, thus, not ideal fluorophores for fluorescence image-guided surgery. The visualization of the target tissues mainly depends on the efficacy of fluorescent agents, resulting from the difference in the amount of molecular uptake into the target and neighboring normal tissues. Targeted fluorophores enable the visualization of the desired target tissues, thus enhancing the clinical outcomes. However, the introduction of targeted fluorophores is mainly restricted due to the absence of US Food and Drug Administration (FDA) approvals. Additionally, imaging agents have to undergo the same FDA approval process as other pharmaceutical drugs, which may take approximately a decade and around USD 150 million for a fluorescent probe to become available in the market. Post-approval, imaging agents are required to be paired with a specific model of an imaging device. For instance, the approval of Cysview (Photocure) with KARL STORZ’s blue light cystoscope PDD System. This practice limits the entry and adoption of molecularly targeted NIRF imaging agents in clinical practices, thus hindering the market growth.

Global Near Infrared Imaging/NIR Market Segmental Overview

The report analyses the global near infrared imaging/NIR market based on product, application, end-use, and region.

Global Near Infrared Imaging/NIR Market by Product

Based on product, it is segmented into devices and reagents. Devices segment further sub-segmented into near-infrared fluorescene imaging systems, and near-infrared fluorescene and bioluminescene imaging systems. Among these, in 2021, the reagent segment accounted for the larger share. The large share of this segment can be attributed to the as reagents offer several advantages over traditional visible light dyes including high sensitivity and specific detection in biological systems. Reagents are sub-categorized as Indocyanine Green (ICG) and other reagents. The reagents segment is expected to grow considerably during the forecast period owing to the benefits offered by ICG. Indocyanine green offers real-time angiographic images during brain tumor or vascular surgery. Moreover, it is increasingly being used for spine surgery. Hence, growing applications of ICG along with its advantages are the major drivers of the segment.

Global Near Infrared Imaging/NIR Market by Application

Based on application, it is segmented into preclinical imaging, cancer surgeries, gastrointestinal surgeries, cardiovascular surgeries, plastic/reconstructive surgeries and others. Among them, in 2021, the preclinical imaging segment is expected to command the largest share of the global needle-free injection system devices market by technology. Near-infrared (NIR) regents are used in preclinical imaging research to study diseases and conditions such as cancer, inflammation, infection, vascular, and others. The development of advanced NIR reagents with improved fluorescence, tissue penetration, and targeted fluorescence capabilities promotes its adoption into preclinical research. For instance, COX 2 probe- a targeted NIR dye developed by PerkinElmer Inc. detects cyclooxygenase-2, produced in early-stage cancer Such dyes are used in faster clinical development of oncology drugs and diagnostic devices.

Global Near Infrared Imaging/NIR Market by End-use

Based on end-use, it is segmented into hospitals & clinics, pharmaceutical & biotechnology companies and research laboratories. Among them, in 2021, the hospitals and clinics segment captured the largest revenue share and is expected to lead in the future as well. This growth is owing to an increase in the number of admissions of cancer patients in clinics and hospitals and well-established healthcare facilities in developed countries. Near infrared technologies are widely used in hospitals and clinics for detection of bedsores to prevent surgical errors. Laparoscopic devices integrated with near infrared sensors help surgeons to avoid accidental cutting of blood vessels. The adoption of these devices helps in reducing surgical errors and minimizing the duration of hospital stay and healthcare costs for patients. The increasing patient demand for minimally invasive and efficient surgical methods is expected to boost the demand for near infrared products.

Geographical Analysis of Global Near Infrared Imaging/NIR Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America accounted for significant revenue size in 2021. This growth is owing to the high disposable income of consumers, speedy adoption of technologically advanced medical devices, and diagnostic techniques. A large number of cancer cases reported in the country are expected to boost the market in the U.S. According to the American Cancer Society, around 1685,210 new cancer cases were identified in 2016 in the U.S. In addition, rise in the number of reconstructive and cosmetic surgeries in the country owing to increased spending and rising awareness regarding early diagnosis is expected to create robust growth opportunities.

Major Players in the Global Near Infrared Imaging/NIR Market

COVID-19 Impact

Globally, the outbreak of COVID-19 has impacted every aspect of the medical devices industry, including interventional neurology devices. From the past six months, the number of patient visits to hospitals has also reduced significantly despite the emergency. There is considerable variation in the management of surgical procedures during the COVID-19 pandemic. Patients are avoiding healthcare institutions to prevent contact with COVID-19 patients and healthcare professionals. Falling rates have been observed across a range of acute and critical conditions, including stroke, myocardial infarction, and various cancers. The near-infrared imaging market is expected to be impacted due to the temporary postponement of various elective surgeries, as governments and authorities seek to ensure the availability of resources for COVID-19 patients. Closed manufacturing facilities due to lockdowns have also disrupted supply chains, and reduced recruitments for clinical trials have further impacted the growth of the overall near-infrared imaging market in 2020.

Recent Developments

• In January 2021, KARL STORZ announced the launch of the system named IMAGE1 S Rubina multimode visualization, the latest advancement in endoscopic imaging. This technology combines state-of-the-art 4K resolution with superior fluorescence-guided imaging using indocyanine green dye and near-infrared light and (NIR/ICG).
• In January 2021, Leica Microsystems partnered with Imperial College London in the field of optical imaging and its use in research and innovation.
• In December 2020, Olympus expanded its VISERA ELITE II surgical imaging platform with the addition of 3D ENDOEYE video laparoscope and a dedicated IR Xenon light source equipped with 3D and Infra-red (IR) capabilities respectively.
• In 2019, Leica Microsystems received De Novo clearance from the US Food and Drug Administration (FDA) to market its FL400 surgical microscope filter in the US.
• In 2019, Stryker acquired Mobius Imaging, LLC and GYS Tech, LLC (US). The acquisition strengthened Strykers portfolio of orthopedics, spine, and neurotechnology products.

Frequently Asked QuestionsQ1. How big is the orthopedic braces & supports market?Ans. The global near infrared imaging/NIR market size was USD 216.7 million in 2021 and is anticipated to reach USD 614.5 million in 2031, growing at a rate of 11.0% from 2022 to 2031.Q2. What is the near infrared imaging/NIR market growth rate?Ans. The growth rate of the near infrared imaging/NIR market is 11.0%.Q3. Which region holds a major market share for the needle-free injection system market?Ans. North America holds a major market share of the near infrared imaging/NIR market in 2021.Q4. Which segment accounted for the largest near infrared imaging/NIR market share?Ans. By end user, the healthcare segment accounted for the largest near infrared imaging/NIR market share.Q5. Who are the key players in the needle-free injection system market?Q6. What are the factors driving the near infrared imaging/NIR market growth?Ans. The major factors driving the growth of the market are the rising significance of early disease diagnosis driven by a considerable rising prevalence of chronic disorders across the globe.Q7. What are the key growth strategies of near infrared imaging/NIR market players?Ans. The key growth strategies of near infrared imaging/NIR market players are product launch and product approval.Q8. Which region will provide more business opportunities for the near infrared imaging/NIR market during the forecast period?Ans. The Asia-Pacific region will provide more business opportunities for the near infrared imaging/NIR market during the forecast period.

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