Increasing adoption in pharmaceuticals sector fueling growthof the hyperspectral imaging market, especially in emerging economies
The global HyperspectralImaging Systems Market globe is expected to witness double digit growth inthe near future. In healthcare sector, these systems are used to performvarious procedures in the pharmaceuticals industry. These include systems usedto perform quality control tests that help detect foreign material present indrugs, and also mixed chemicals in counterfeit drugs. Also, hyperspectralimaging systems help in identification of targeted tumor tissue, a bloodvessel, lymph nodes, a nerve bundle by covering the surface area of target andproviding the image, in which that pixels of the image contains informationregarding various light wavelength bands. Also, hyperspectral imaging findsextensive application in cancer treatment, as these systems provide real-timedata and help in understanding the changes of tissue, which occur in the earlystages of development of disease, also it helps to differentiate healthy cellsfrom cancerous cells.
North America holds the largest share in the global hyperspectralimaging systems market, followed by Europe. This is mainly attributed to highhealthcare spending, robust healthcare infrastructure, and inclination towardsadoption of novel technologies. Also, the market in APAC region is projected towitness high growth rate over the next few years, due to increasing economicgrowth and developing healthcare sector.
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Hyperspectral imaging (imagingspectroscopy) systems are the result of extensive research and activityefforts. These systems have various applications in sectors such as healthcare,research and development, food industry, defense sector and others such asremote sensing, calorimetry and night vision. Hyperspectral imaging differsfrom multispectral imaging based on quality of image and provides greatersensitivity than conventional or multispectral imaging. For instance,multispectral imaging provides 2 to 20 images per dataset, while hyperspectralimaging provides over 20 images per dataset. Also, multispectral imaging gives4 to 20 data points per pixel, while hyperspectral imaging provides fullspectrum per pixel.
Increasing deployment ofhyperspectral imaging in healthcare sector creates a highly conduciveenvironment for growth of the hyperspectral imaging market in the near future.Hyperspectral imaging finds wide application in medical imaging, ophthalmology,and is also used in the procedures of gastrointestinal tract, in vascularsystems and in tissue diagnosis. It is also an integral part of wound analysis,cell biology, and fluorescence microscopy. Wide application of the technologyis mainly attributed to its high accuracy and clarity.
Growth factors and restraints ofthe hyperspectral imaging market
The innovative products withadvanced technology, high patient and operator safety, superior accuracy andconsistency are the leading factors driving growth of the hyperspectral imagingmarket. The major challenge in this market is high cost of this systems, lackof awareness about the applications of these systems, dearth of skilled operators,high investment costs and implementation of healthcare regulatory policies thatdelay approval for this systems in some regions.
Some are the key companiesproviding innovative products in this area are Headwall Photonics, HyperMedImaging, Inc, Spectral Imaging Ltd., imec, Norsk Elektro Optikk AS (NEO),SpekLED GmbH and Resonon.
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Key Developments
Continuous technologicalinnovations and product launches by key players is driving growth of thehyperspectral imaging market. For instance, in June 2018, Headwall PhotonicsInc. introduced sensor payloads consisting of hyperspectral sensors and lidarinstruments for the unmanned aerial vehicle (UAV) platform.
Moreover, key players areadopting strategies such as facility expansions in order to expand theirproduct output and strengthen their position in the market. In February 2017,Headwall Photonics set up a new facility in Boston, U.S. for its advancedimaging sensor products. According to the company, this expansion will helpthem achieve growth in three core areas: medical and biotechnology, remotesensing, and machine vision.
Increasing number of productapprovals and distribution grants are facilitating demand for hyperspectralimaging systems. In April 2018, HyperMed Imaging, Inc. received the CE Markapproval for the distribution of its HyperView medical imaging system inEurope. The HyperView System is a battery-operated, handheld, portable, andnon-invasive diagnostic imaging device used for assessing tissue oxygenation.
Market players are also focusedon strategic collaborations and partnerships to expand their product portfolioand market share. In July 2018, SANUWAVE Health, Inc. announced a partnershipwith HyperMed. The collaboration will include SNUWAVE utilizing HyperMed’sHyperview spectral imaging device to measure oxyhemoglobin level,deoxyhemoglobin level, and oxygen saturation in superficial tissue.
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