Near Infrared Imaging Market Supported by Expanding Biotechnology Sector

The global near infrared imaging market size was estimated at USD 2.24 billion in 2024 and is projected to reach USD 2.82 billion by 2030, growing at a CAGR of 3.9% from 2025 to 2030. The rising incidence of target diseases, such as cardiovascular diseases (CVDs), gastrointestinal, neurovascular conditions, and cancer, is expected to drive the demand for near infrared imaging over the coming years.
According to the WHO, CVDs account for about 17.9 million deaths globally each year. In addition, the growing demand for technologically advanced fluorescence imaging systems and strategic initiatives by key market players are further fueling market expansion. For instance, in May 2024, Hamamatsu Photonics K.K., headquartered in Hamamatsu City, Japan, acquired NKT Photonics A/S, thereby strengthening its position in lasers, detectors, and advanced photonics solutions.
The COVID-19 pandemic temporarily impacted the market for near infrared imaging as healthcare facilities shifted focus to essential medical devices. This led to reduced demand for imaging systems during the crisis. However, with the lifting of restrictions, the market has shown signs of recovery. According to Olympus’s annual report, the surgical endoscopes market rebounded, with strong sales of its VISERA ELITE II system in North America and Europe.
The increasing adoption of surgical interventions has significantly boosted the use of visualization equipment. Microsurgery has become a preferred option for many individuals due to the rising prevalence of chronic conditions associated with stress, sedentary lifestyles, poor dietary habits, chemical exposure, and hereditary factors. Growing awareness about the benefits of timely surgical intervention has also contributed to demand. According to the American Society of Plastic Surgeons, cosmetic procedures in the U.S. grew by 5% between 2022 and 2023, totaling 1,575,244 procedures in 2023, which is expected to support demand for near infrared imaging systems.
Moreover, the steady rise in the global geriatric population is increasing healthcare system demands. According to the WHO’s Global Health and Aging report, the number of people aged 65 and above is expected to increase from 524 million in 2010 to nearly 1.5 billion by 2050, particularly in developing regions. This demographic trend is projected to drive greater application of near infrared imaging in healthcare.
Near infrared imaging finds extensive use in physiological diagnostics, pulse oximetry, blood sugar monitoring, sports medicine, urology, and neurology. More than 250 clinical trials are currently underway to explore new applications. Notably, early detection of Alzheimer’s disease using non-invasive near-infrared spectroscopy is anticipated to significantly impact adoption in neurology. Functional near-infrared spectroscopy, integrated with optical imaging technologies, is increasingly applied in neuroimaging.
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Key Market Trends & Insights
- North America accounted for the largest share (40.6%) in 2024.
- Asia Pacific is projected to record the fastest CAGR of 4.4% during the forecast period.
- By product, the reagents segment held the largest share of 57.0% in 2024.
- By indication, the preclinical imaging segment accounted for 34.2% of revenues in 2024.
- By end use, hospitals and clinics captured over 44.6% share in 2024 and are projected to grow fastest over the forecast period.
Market Size & Forecast
- 2024 Market Size: USD 2.24 Billion
- 2030 Projected Market Size: USD 2.82 Billion
- CAGR (2025–2030): 3.9%
- North America: Largest market in 2024
- Asia Pacific: Fastest growing market
Key Near Infrared Imaging Company Insights
Prominent players in the market include Quest Diagnostics Incorporated, Stryker, KARL STORZ SE & Co. KG, Olympus, Hamamatsu Photonics K.K., Mizuho Medical Co., Ltd., Shimadzu Corporation, Leica Microsystems, Medtronic (Visionsense), PerkinElmer, Zeiss Group, and FLUOPTICS SAS.
These companies are actively pursuing strategies such as product launches, acquisitions, and collaborations. For instance, Lynred (France) acquired New Imaging Technologies in October 2024 to strengthen its infrared sensor portfolio, catering to growing demand in aerospace and defense. Similarly, KARL STORZ SE & Co. KG continues to innovate advanced NIR/ICG imaging systems to enhance surgical precision, while Hamamatsu Photonics K.K. leverages its expertise in optoelectronic devices to deliver high-resolution imaging solutions across medical and industrial domains.
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Conclusion
The near infrared imaging market is poised for steady growth, driven by the rising prevalence of chronic diseases, increasing adoption of surgical procedures, and expanding applications in diagnostics and neurology. Technological advancements, coupled with strategic moves by leading players, are enhancing product offerings and accessibility. With North America leading in adoption and Asia Pacific emerging as the fastest-growing region, the market outlook remains positive. Moreover, the rising geriatric population and expanding clinical research applications will continue to accelerate demand for near infrared imaging in the years ahead.
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