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It is primarily driven by the medical sector.
According to SNS Insider, the near-infrared (NIR) imaging market is expected to reach $310 million by 2032, with a compound annual growth rate of 4.0%.
The medical field is the main driving force for the growth of near-infrared imaging. The technology is increasingly used by governments and medical institutions for diagnostic applications, surgical guidance and tissue analysis.
The expansion of the market is further attributed to the increasing demand for non-invasive imaging techniques, which carry less risks compared to traditional methods such as X-ray and MRI.
“According to a 2024 World Health Organization report, non-invasive methods are becoming increasingly important in many developing countries where highly diagnostic medical facilities may not be easily accessible,” the report states.
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