This market research report identifies Headwall Photonics, Specim Spectral Imaging, Norsk Elektro Optikk, IMEC, and Surface Optics as the major vendors operating in the global healthcare hyperspectral imaging market. This report also provides a detailed analysis of the market by end-users (Hospitals, Diagnostic centers, Pharmaceutical and biotechnology industries, Research centers), and region (North America, Europe, Asia Pacific, and Rest of the World).
Overview of the Global Healthcare Hyperspectral Imaging Market
Trends market research report predicts that the global healthcare hyperspectral imaging market will grow at a CAGR of 14.4% during the forecast period 2018–2024. The major drivers of the market are the rise in the aging population, increased incidence of chronic diseases, the introduction of portable/handheld hyperspectral imaging systems with high operability and safety, and an increase in the number of diagnostic procedures are expected to positively impact the growth of the healthcare hyperspectral imaging market, thereby leading to the high demand for advanced healthcare hyperspectral imaging devices.
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According to the healthcare hyperspectral imaging market analysis, in North America, the US and Canada are the leading countries owing to the highest number of diagnostic cases in 2017. This region dominates the overall presence of healthcare hyperspectral imaging and has the most diversified devices available in the market. It has the highest percentage of the elderly population with many individuals suffering from chronic diseases such as CVD, neurovascular disorders, orthopedic surgeries, and other urology-related disorders. This has helped most of the vendors to sustain and grow over the period and maintain their product presence in the market. Europe is the second leading region and held more than 30% of the market share in 2017. The market in Europe was largely driven by advancements in medical device technologies. The factors such as an increase in the prevalence of diseases, continuous adoption of advanced technologies, and increasing aging population are driving the market. The leading countries in Europe include Germany, France, the UK, and Italy.
Competitive Analysis and Key Vendors
The global healthcare hyperspectral imaging market has immense growth opportunities in both developed and developing regions. The manufacturers are focusing on developing healthcare hyperspectral imaging systems to support image analysis and fasten the process of various imaging facilities, especially during surgeries. There is increased adoption of imaging systems for high-quality imaging, screening, and diagnosing due to improved access and encouragement from the government & other healthcare institutions, especially in the US, Canada, France, Germany, and the UK.
Imaging mass spectrometry and functional magnetic resonance imaging are the forms of hyperspectral imaging with a wide range of applications in healthcare. The advancements in hyperspectral imaging systems have changed the way the diagnoses in healthcare are being done, and a significant change is witnessed in the optical imaging market.
A majority of the leading healthcare hyperspectral imaging companies focus on developing high-quality cameras that provide an assessment of diagnosis and treatment for various chronic diseases. The manufacturers are emerging with different strategies to compete in the market along with various brands, models, and designs.
Key Competitive Facts
- The market is highly competitive with all the players competing to dominate. Intense competition, rapid advancements in technology, and frequent changes in government policies are the key factors that confront the market.
- The manufacturers have formulated various strategies for developing innovative healthcare hyperspectral imaging devices in the market.
Some of the key vendors in the market are:
- Headwall Photonics
- Specim Spectral Imaging
- Norsk Elektro Optikk
- Surface Optics
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Other vendors in the global healthcare hyperspectral imaging market Telops Inc., Applied Spectral Imaging, and Corning Inc.
Segmentation of end-users
- Diagnostic centers
- Pharmaceutical and biotechnology industries
- Research centers
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The report provides detailed information about the usage and adoption of healthcare hyperspectral imaging in various applications and regions. With that, key stakeholders can find out the major trends, drivers, investments, vertical player’s initiatives, and government initiatives toward the medical devices segment in the upcoming years. Moreover, the report provides details about the major challenges that are going to have an impact on market growth. Additionally, the report gives complete details about the business opportunities to key stakeholders to expand their business and capture the revenue in the specific verticals. The report will help companies interested or established in this market to analyze the various aspects of this domain before investing or expanding their business in the healthcare hyperspectral imaging market.