Cancer Surgeries Segment Held Largest Share of Application in South and Central America Near Infrared Imaging Market in 2019

According to a new market research study of ‘South and Central America Near Infrared Imaging Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by product, application, and end user’ the South and Central America near infrared imaging market is expected to reach US$ 44.87 million in 2027 from US$ 34.58 in 2019. The market is estimated to grow with a CAGR of 3.4% from 2020-2027. The report provides trends prevailing in the South and Central America near infrared imaging market and the factors driving market along with those that act as hindrances.

Based on the application, the South and Central America the near infrared imaging market, is segmented into cancer surgeries, cardiovascular surgeries, gastrointestinal surgeries, plastic/reconstructive surgeries, preclinical imaging, and others. The cancer surgeries segment held the largest share of the market in 2019, also the same segment is anticipated to register the highest CAGR in the market during the forecast period owing to the rising number of patients suffering with cancer and undergoing surgical procedures for treatment combined with the advancements in NIR imaging. The shift of paradigm occurs in cancer surgeries when the surgeons are empowered to perform surgeries better and faster in relatively inexpensive forms than the existing standards. The optical imaging involving near infrared fluorescent light has the potential to improve the outcomes of cancer surgery and minimize the time that patients are under anesthesia thereby lowering the costs of healthcare and improving contrast and deep tissue penetration relative to the tissue at the same time. The near infrared imaging is superior to various conventional imaging techniques, however its incorporation in routine cancer surgeries is dependent of rigorous clinical trials as well as validation studies.

The growth of the market is attributed to some key driving factors such as the high rise in cases of chronic diseases and the significant growth in biotechnology and research sector. However, the market growth is likely to be hindered owing to the concerns regarding near-infrared imaging and the high cost of healthcare.

Olympus Corporation, Carl Zeiss Meditec AG, Leica Microsystems Nussloch GmbH are among the leading companies operating in the South and Central America near infrared imaging market. 

South and Central America Near Infrared Imaging Market, By Country, 2019(% share)

The report segments South and Central America Near Infrared Imaging Market as Follows:

By Product

• Device
  • Near-Infrared Fluorescence Imaging Systems
  • Near-Infrared Fluorescence and Bioluminescence Imaging Systems
• Reagent
  • Indocyanine Green (ICG)
  • Others

By Application

• Cancer Surgeries
• Cardiovascular Surgeries
• Gastrointestinal Surgeries
• Plastic/Reconstructive Surgeries
• Preclinical Imaging
• Others

By End User

• Hospitals and Clinics
• Pharmaceutical and Biotechnology Companies
• Research Laboratories

By Country

• South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America