Market Dynamics
Increasing incidences of cancerand neurological diseases that demand imaging techniques for their diagnosisare expected to foster growth of NearInfrared Medical Imaging Market. For instance, according to the WorldCancer Research Fund International, breast cancer was reported to be the mostcommon type of cancer detected in females with nearly 1.7 million new casesdiagnosed in 2012. The data also suggests that this number is expected toincrease by 2020 across the globe. Moreover, increasing prevalence ofneurological disorders such as Alzheimer’s disease, epilepsy, dementia, andother diseases are also driving growth of global near infrared medical imagingmarket. According to the World Health Organization 2016, hundreds of millionsof people are affected worldwide due to neurological disorders. The datasuggests that over 50 million people across the globe suffer from epilepsy,whereas around 47.5 million people are suffering from dementia and around 7.7million new cases are reported every year. However, high penetration ofalternative medical imaging techniques in the market is expected to hinder themarket growth over the forecast period.
Near infrared medical imaging,also known as near infrared spectroscopy, uses near infrared light waves ofwavelength between 650 to 950 nm to non-invasively probe the oxygenation andconcentration of hemoglobin in the muscles, brain, and other tissues. The nearinfrared diagnostic imaging modality is advantageous over various otherexisting radio-imaging techniques due to its non-invasive nature thatfacilitates repeated usage of this technique on the patient without any sideeffects and harm. Moreover, specific absorption by natural chromophores allowsto obtain functional information of the patient such as the concentration ofoxy-hemoglobin within particular tissues. A variety of possible clinicalapplications are focused in near infrared (NIR) medical imaging research andmost importantly, highlights development of a technique for screening of breastcancer. Moreover, near infrared imaging is advantageous in terms of portabilityand cost-effectiveness. This technique involves use of incoherent light sourcethat is typically safer than that of the strong invasive lasers used in theinvasive imaging techniques such as electroencephalography (EEG), positronemission tomography (PET), and others. Furthermore, the near infrared imagingallows considerable motion to the patient undergoing the test, which againserves as an advantage when compared to the other existing alternatives.
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Regional Insights
On the basis of region, theglobal near infrared medical imaging market is segmented into North America,Latin America, Europe, Asia Pacific, Middle East, and Africa. North Americaholds a dominant position in the global near infrared medical imaging marketand is expected to retain its dominance over the forecast period, owing tolarge population suffering from breast cancer and other neurological diseases.According to the American Cancer Society, invasive breast cancer was diagnosedin around 231,840 patients in the U.S. in 2015. Furthermore, key players in themarket are introducing novel products, which is expected to aid in growth ofthe market in the region. For instance, in April 2017, Leica Microsystemsintroduced augmented reality near infrared fluorescence integrated imagingsystem GLOW800 at the American Association of Neurological Surgeons (AANS)Annual Scientific Meeting that facilitates full visual spectrum of white lightinto a single, real-time image. Asia Pacific is expected to witness a significantgrowth in the market, owing to increasing investments by international playersby collaborating with regional players in the market. For instance, in June2012, Infradex, Inc., a medical device company signed an exclusive agreementwith Nipro Corporation for the distribution of TVC near infrared spectroscopyimaging system in Japan.
Competitive Landscape
Key players operating in theglobal near infrared medical imaging market include Bruker Corporation, CarlZeiss Meditec AG, Shimadzu Corporation, PerkinElmer, Inc., MIZUHO Corporation,Karl Storz GmbH, and NOADAQ Technologies, Inc. among others. Market players arefocused on providing technologically advanced products to sustain theirposition in the competitive market.
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For instance, in April 2018,Shimadzu Corporation introduced new LIGHTVISION near-infrared fluorescenceimaging system for visualizing lymph nodes and blood vessels for the diagnosisand treatment of breast cancer.
Key Developments in Near InfraredMedical Imaging Market
In April 2018, ShimadzuCorporation launched its new LIGHTVISION near-infrared fluorescence imagingsystem. The system is designed to support breast cancer treatment through thevisualization of lymph vessels and blood vessels based on the detection ofnear-infrared fluorescent light emitted from indocyanine green (ICG). With thislaunch, the company entered into medical near-infrared camera market.
In December 2018, KARL STORZEndoscopy-America, Inc., a manufacturer of endoscopy, imaging and operatingroom integration solutions, launched NIR/ICG Fluorescence Imaging, an IMAGE1 Stechnology. It is a 4 mm Endoscopic NIR/ICG Fluorescence Imaging System,designed to enhance minimally invasive neurosurgery.
In August 2019, Stryker launchedFluorescence Imaging (FI) technology, Spy-Phi, for mapping of lymphatics,identification of lymph nodes and confirming adequate tissue perfusion for safebreast reconstruction. New technology uses near infrared technology andindocyanine green (ICG) dye
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