Near-infrared imaging market is anticipated to grow at a CAGR of 12.1% during the forecast period (2024-2031). Near-infrared (NIR) imaging is a medical imaging technology that utilizes near-infrared light to visualize structures and functions within the body, aimed at providing detailed images of internal organs, tissues, and blood flow. Further, market growth is driven by the rising prevalence of chronic diseases, advancements in NIR (near-infrared) imaging technology, integration with other modalities such as CT scans and MRIs, among others, increasing utilization in research work, and growing investment in modernizing healthcare infrastructure.

Market Dynamics  

Rising Prevalence of Chronic Disease

A considerable proportion of the global population is at risk or is suffering from chronic diseases such as cancer, diabetes, and cancer, among others. The prevalence of the disease is also on a growth trajectory, with the number of patients increasing each year. Such dynamics for disease prevalence have developed a vital consciousness among healthcare professionals and patients to utilize advanced imaging technology such as NIR for disease detection, diagnosis, and monitoring. Also, imaging technology plays a crucial role in surgical guidance and medicinal prescriptions of a non-invasive and cost-effective nature, which is expected to result in the increasing use of imaging technology. According to the US Department of Health and Human Services, approximately 129 million individuals in the US are affected by at least one major chronic disease, such as heart disease, cancer, diabetes, obesity, or hypertension. Moreover, the Centers for Disease Control and Prevention has reported that an increasing number of Americans are facing multiple chronic conditions, with 42.0% having two or more and 12.0% having at least one. In addition to the personal implications, chronic diseases significantly impact the US healthcare system, with around 90.0% of the annual $4.1 trillion healthcare expenditure being allocated to the management and treatment of chronic diseases and mental health conditions.

Advancement in NIR (Near-Infrared) Technology

The market for NIR imaging technology is continuously evolving as it integrates and develops advanced technologies like artificial intelligence (AI) and machine learning (ML), portable NIR devices, improved depth penetration and imaging software, and hybrid imaging systems. These developments are anticipated to enhance the market by offering superior imaging solutions, improved fluorescent probes, and ultimately boosting the utility of imaging technology in various applications. For instance, in March 2023, SpectraWAVE, Inc. received FDA 510(k) clearance for their flagship intravascular imaging system, HyperVue, which combines DeepOCT images and near-infrared spectroscopy (NIRS) to support physicians in optimizing coronary stenting. The system is designed to improve treatment and outcomes for patients with coronary artery disease (CAD) and has been used in a first-in-human study by multiple physicians.

Segmental Outlook 

• Based on technology, the market is segmented into fluorescence imaging and bioluminescence imaging.

• Based on application, the market is segmented into cancer surgeries, gastrointestinal surgeries, cardiovascular surgeries, plastic surgeries, and others (preclinical imaging).

Fluorescence Imaging: Leads the Technology Segment

Fluorescence imaging is the leading technology in NIR imaging, offering enhanced contrast and real-time visualization of biological tissues. Its growth is driven by advancements in fluorophore development, improved imaging equipment, increasing demand for non-invasive diagnostic and surgical procedures, and expanding applications in oncology, cardiovascular surgery, and neurological monitoring.

Cancer Surgeries Dominate the Application Segment

NIR imaging is primarily used in cancer surgeries, providing real-time, high-resolution visualization of tumor margins and lymph nodes. This enhances surgical precision, reduces the risk of leaving behind cancerous tissues, and improves patient outcomes. The major factors contributing to this segment's growth include advancements in fluorescent probes, the increasing adoption of minimally invasive procedures, and the rising prevalence of cancer. Further, as technology evolves, NIR imaging's role in oncology is expected to expand, leading to more effective surgical interventions and postoperative monitoring. For instance, according to the American Cancer Society, there were nearly 20 million new cancer cases and 9.7 million cancer-related deaths in 2022, including nonmelanoma skin cancers.

Regional Outlook 

The global near-infrared imaging market is further segmented based on geography including North America (the US, and Canada), Europe (the UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).  

Global Near-Infrared Imaging Market Growth by Region 2024-2031

North America is Estimated to Dominate the Global Near-Infrared Imaging Market

North America holds the major share in the global market attributed to the rising prevalence of chronic diseases, growing demand for NIR imaging in research institutes, and with presence of major market players that are developing new technologies for NRI. For instance, in May 2024, Synaptive Medical Inc., a global medical technology and tech company specializing in addressing surgical, imaging, and data obstacles, obtained 510(k) clearance from the Food and Drug Administration (FDA) for its Near-Infrared Fluorescence Visualization Module, Modus IR. This addition enhances the current fluorescence capabilities of its 4K 3D robotic exoscope, Modus X. Synaptive’s Modus IR is now accessible to healthcare facilities in the United States. This further strengthens the comprehensive range of Synaptive’s exoscope for utilization in various neurosurgical procedures, as well as in plastic and ENT surgery.

Market Players Outlook 

*Note: Major Players Sorted in No Particular Order. 

The major companies serving the global near-infrared imaging market include Carl Zeiss Meditec AG, KARL STORZ SE & Co. KG, and Stryker Corp. among others. The market players are focusing on capitalizing on growth by adopting strategies such as collaboration, partnerships, and market expansion among others. For instance, in August 2022, Shimadzu, a Japanese company, unveiled the LuminousQuester NI near-infrared imaging system. This system includes a camera that can capture near-infrared light and visible light simultaneously along with specialized software. It is intended for nonclinical research purposes and is aimed at supporting drug discovery research. The system combines a versatile camera suitable for various environments with user-friendly software.

The Report Covers 

• Market value data analysis of 2023 and forecast to 2031. 
• Annualized market revenues ($ million) for each market segment. 
• Country-wise analysis of major geographical regions. 
• Key companies operating in the global near-infrared imaging market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report. 
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future. 
• Analysis of market-entry and market expansion strategies. 
• Competitive strategies by identifying ‘who-stands-where’ in the market.