Global Hyperspectral Imaging Market, by Type (Hyperspectral Imaging Cameras, Accessories), by Application, (Disease diagnosis, Image-guided surgery, Cancer detection, Pharmaceuticals, Others (Eye problem detection, assessing tissue perfusion, evaluation teeth structure)), by End User, (Hospitals, Diagnostic Centers and Research centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 287.9 million in 2022 and is expected to exhibit a CAGR of 15.2% during the forecast period (2022-2030).
Market players are involved in investing in hyperspectral imaging software, this is expected to drive the growth of global hyperspectral imaging market. For instance, on July 6, 2022, Headwall Photonics, an optical products manufacturer announced strategic growth investment in perClass BV, a software company. Headwall and perClass are focused on growing the use of hyperspectral imaging among researchers and industries worldwide, by introducing more user-friendly yet effective hyperspectral imaging workflows and by removing of the complicated data interpretation issues that have in the past restricted broader adoption of hyperspectral imaging. perClass BV partnership with Headwall will work with its capacity to give top tier solutions for the market for any sensor, and their more profound coordination with a main sensor supplier speeds up perClass BV objective of progressing far and wide reception of unearthly imaging in real-world applications.
New hyperspectral imaging product are receiving fast clearance from regulatory bodies, expected to increase global hyperspectral imaging market over forecast period. For Instance, in 2017, HyperMed Imaging, Inc., medical device company, receives clearance from the U.S. Food and Drug Administration (FDA) for its new product HyperView. The HyperView is a convenient diagnostic imaging device that is used to evaluate tissue oxygenation without contacting the patient. The HyperView technology shows two-dimensional, color-coded visuals of the scanned surface's tissue oxygenation. Hyperspectral tissue oxygenation measures are provided for specific tissue locations through images and data. The item is planned for use by doctors and medical services experts as a harmless tissue oxygenation estimation framework that reports a rough worth of oxygen immersion (O2Sat), oxyhemoglobin level (Oxy), and deoxyhemoglobin level (Deoxy) in shallow tissue.
Global Hyperspectral Imaging Market- Impact of Coronavirus (COVID – 19) Pandemic
The coronavirus disease (COVID-19) pandemic is expected to hamper the global hyperspectral imaging market over the forecast period. COVID-19 is the recent pandemic outbreak, which was first reported on December 31, 2019 in Wuhan, China. The World Health Organization declared coronavirus disease (COVID-19) as a pandemic on March 11, 2020. According to the World Health Organization (WHO) Weekly epidemiological update on COVID-19, the number of new cases are increasing. Therefore, as of July 12, 2022, around 557 million cases and over 6.3 million deaths have been reported.
Research institute are involved in development of device which can detect diseases on early stage expected to drive the growth of global hyperspectral imaging device. For instance, according to published data on May 08, 2022 by Springer, a multinational publishing company of books, e-books and peer-reviewed journals, the researcher are developing hyperspectral imaging device which is unique, extremely sensitive, non-contact, along with hyperspectral imaging to map the subcutaneous blood flow based on its saturation level with oxygen. The degree of oxygen saturation is crucial for illness screening, diagnosis, and therapy evaluation. This method might provide an accurate and quick assessment of SpO2 (oxygen saturation) values for COVID-19 diagnosis.
Browse 31 Market Data Tables and 41 Figures spread through 200 Pages and in-depth TOC on Global Hyperspectral Imaging Market, by Type (Hyperspectral Imaging Cameras, Accessories), by Application, (Disease diagnosis, Image-guided surgery, Cancer detection, Pharmaceuticals, Others (Eye problem detection, assessing tissue perfusion, evaluation teeth structure)), by End User, (Hospitals, Diagnostic Centers and Research centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Market players are engaged in inorganic growth activities such as partnership, in order to expand their product portfolio. This is expected to drive growth of the global hyperspectral imaging market, over the forecast period. For instance, on Jan 13, 2020, Headwall, a developer of highly precise multispectral and hyperspectral imaging sensors and Ocean Insight, an applied spectral knowledge company established a partnership in response to the rising demand for hyperspectral imaging goods. Through this partnership, Ocean Insight distributes Headwall's products through its numerous commercial channels in China.
Key Takeaways of the Hyperspectral Imaging Solution Market:
- The global hyperspectral imaging market is expected to exhibit a CAGR of 15.2% over the forecast period (2022-2030), owing to growth in potential markets, especially in Europe. While North America accounted for the major market share.
- Market players are involved in expansion of their product, owing to increase the product portfolio, expected to drive the growth of global hyperspectral imaging market. For instance, on September 23, 2020, Norsk Elektro Optikk, an electro-optics research and development firm, expanding its Hyperspectral imaging product with new SWIR-640 camera, under its brand HySpex. HySpex SWIR-640 to give 640 spatial pixels and 360 phantom groups, while keeping up with the spectral fidelity and optical quality.
- 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.
