Near Infrared Imaging Market Overview

The Near Infrared Imaging Market was valued at approximately US$ 395.14 million in 2019 and is anticipated to grow to US$ 543.24 million by 2027, reflecting a compound annual growth rate (CAGR) of 4.2% from 2020 to 2027.

Market Growth Drivers

The expansion of the Near Infrared Imaging market can be primarily attributed to the increasing number of surgical procedures being performed globally, along with the numerous advantages that near infrared imaging systems provide. However, the market may face challenges due to a shortage of skilled professionals throughout the forecast period.

Understanding Near Infrared Imaging

Near infrared imaging employs light wavelengths ranging from 650 to 950 nm to identify changes caused by injuries, diseases, or other conditions. This imaging technique serves as an effective diagnostic tool for tissue imaging, offering a minimally invasive and non-ionizing approach. Notably, blood and water, which are predominant components of tissues, do not absorb near infrared light effectively, enhancing the visibility of internal structures. This method is advantageous over traditional imaging techniques due to its rapid resolution and reduced risk to patients.

Impact of Surgical Procedures

The rise in surgical interventions has led to an increased demand for visualization equipment necessary for performing surgeries. The trend towards microsurgery has gained traction among the population, driven by a surge in chronic diseases linked to factors such as work-related stress, poor dietary habits, genetic predispositions, and chemical exposure. Furthermore, the American Society of Plastic Surgeons has reported a significant increase in cosmetic surgeries, which is a key factor contributing to market growth. Consequently, the growing number of surgical procedures and heightened awareness among patients are expected to propel the near infrared imaging market in the upcoming years.

Global Surgical Needs

A report from the Lancet Commission on Global Surgery (2015) indicates that approximately 28-32% of the global disease burden is attributable to conditions that can be treated surgically, with an estimated 143 million additional surgical procedures needed annually to reduce mortality rates. Additionally, data from the Healthcare Cost and Utilization Project (HCUP) revealed that in 2017, around 17.2 million patients underwent various surgical procedures, including both invasive and therapeutic surgeries. The growing awareness among patients regarding the benefits of timely surgical intervention for medical conditions is driving the demand for surgical procedures, thereby enhancing the growth of the near infrared imaging market during the forecast period.

Challenges from the COVID-19 Pandemic

The COVID-19 pandemic has emerged as a significant global challenge, particularly affecting developing nations by disrupting imports and global trade. The pandemic has had a profound impact on the pharmaceutical, medical device, research and development sectors, and other industries worldwide. Near infrared imaging devices are essential in various surgical procedures, and the uncertainty surrounding the pandemic has led to shortages in the supply of diagnostic imaging devices and consumables. Hospitals have faced difficulties managing medical devices for both in-house patients and those affected by COVID-19. In response, market players have focused on increasing production capacities. For example, Li-Cor, Inc., a US-based company, has ramped up its production of near-infrared (NIR) Western blotting systems and In-Cell Western Assay consumables, which are crucial tools for expediting research related to COVID-19 vaccine development.

Market Segmentation

The global near infrared imaging market is categorized based on products, applications, and end users:

• Products: The market is divided into devices and reagents. In 2019, the devices segment held the largest market share, driven by the increasing adoption of near infrared imaging systems in surgical procedures. This segment is expected to exhibit the highest CAGR during the forecast period.


• Applications: The market is segmented into pre-clinical imaging, cancer surgeries, gastrointestinal surgeries, cardiovascular surgeries, plastic/reconstructive surgeries, and other applications. The cancer surgeries segment dominated the market in 2019 and is projected to achieve the highest CAGR of 4.7% during the forecast period.


• End Users: The market is classified into hospitals and clinics, pharmaceutical and biotechnology companies, and research laboratories. The hospitals and clinics segment accounted for the largest market share in 2019 and is expected to register the highest CAGR of 4.7% in the coming years.

Sources of Information

Key sources referenced in the preparation of this report include the Centers for Disease Control and Prevention, European Union, National Health Service, Food and Drug Administration, Lancet Commission on Global Surgery, and American Society of Plastic Surgeons.