From the Wires
Global Healthcare Hyperspectral Imaging Systems Market - Drivers and Forecasts by Technavio
By: Business Wire
May. 19, 2017 01:43 PM
Technavio analysts forecast the global healthcare hyperspectral imaging (HSI) systems market to grow at a CAGR of more than 14% during the forecast period, according to their latest report.
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Technavio has published a new report on the global healthcare hyperspectral imaging (HSI) systems market from 2017-2021. (Graphic: Business Wire)
The research study covers the present scenario and growth prospects of the global healthcare hyperspectral imaging systems market for 2017-2021. The market is segmented by product type (healthcare hyperspectral cameras and accessories), end-user (hospitals and diagnostic centers, pharmaceutical and biotechnology companies, and research laboratories), and geography (the Americas, EMEA, and APAC).
Most the leading healthcare HSI companies are focusing on developing systems with high-quality imaging data for delivering real-time images of biomarker information like deoxyhemoglobin and oxyhemoglobin, which provide an assessment of tissue pathophysiology based on a different spectral characteristic of the tissue. Vendors such as Headwall Photonics, IMEC, Norsk Elektro, and Specim are adopting these techniques to cater to the growing demand for HSI imaging systems. Researchers at Technavio expect APAC to lead the healthcare HSI systems during the forecast period with the increased adoption and transformed healthcare scenario.
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Technavio healthcare and life sciences research analysts highlight the following three factors that are contributing to the growth of the global healthcare hyperspectral imaging systems market:
Increasing awareness coupled with safety and ease of use of HSI systems
Earlier, HSI was mostly installed by government agencies such as NASA and other defense sectors. However, in 2005, the scenario started to change slowly. Now, manufacturers deploy this technology for several applications like medical imaging and life sciences, food and agriculture, mineralogy, machine vision, and environment monitoring due to its high-resolution imaging capabilities. HSI technology is adopted by the institutions and research centers across the globe.
Barath Palada, a lead medical imaging research analyst at Technavio, says, “HSI devices are very safe to use, as they do not emit any unwanted radiation or other dangerous rays that may harm the operator. Thus, this safety capability coupled with increasing awareness about its usage will further boost the adoption of HIS devices during the forecast period.”
Advanced medical imaging capabilities
Advances in semiconductor-based technologies have improved the quality of many medical procedures and reduced the number of complications significantly. The image analysis from HSI systems enables the extraction of diagnostic data that is useful in gathering large information at the tissue, cellular, and molecular levels, which is used for diseases screening, treatment, and diagnosis. The HSI system is widely used to diagnose diseases in the areas of cardiology, oncology, and ophthalmology, as it precisely depicts molecular activity in the body.
“HSI technology can be used to enhance eye care, dental care, and dermatological services for older people, as it reduces patients' exposure to harmful radiation. Thus, the development of medical imaging capabilities with the help of HSI technology will propel the market's growth in the coming years,” says Barath.
Growing adoption of HSI imaging systems
In the past, HSI devices were complicated to use and bulky in nature, and it requires the user to have knowledge of specific technologies and understanding of high-level mathematical functions. Thus, to overcome these problems, manufacturers have launched lighter, flexible, user-friendly HSI devices that can be used as point-and-shoot cameras. Now, there is increasing adoption of HSI devices due to such features, and this trend is expected to continue during the forecast period.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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