Near Infrared Medical Imaging MarketSize and Trends

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