Increasing adoption in pharmaceuticals sector fueling growth of the hyperspectral imaging market, especially in emerging economies

The global Hyperspectral Imaging Systems Market globe is expected to witness double digit growth in the near future. In healthcare sector, these systems are used to perform various procedures in the pharmaceuticals industry. These include systems used to perform quality control tests that help detect foreign material present in drugs, and also mixed chemicals in counterfeit drugs. Also, hyperspectral imaging systems help in identification of targeted tumor tissue, a blood vessel, lymph nodes, a nerve bundle by covering the surface area of target and providing the image, in which that pixels of the image contains information regarding various light wavelength bands. Also, hyperspectral imaging finds extensive application in cancer treatment, as these systems provide real-time data and help in understanding the changes of tissue, which occur in the early stages of development of disease, also it helps to differentiate healthy cells from cancerous cells.

North America holds the largest share in the global hyperspectral imaging systems market, followed by Europe. This is mainly attributed to high healthcare spending, robust healthcare infrastructure, and inclination towards adoption of novel technologies. Also, the market in APAC region is projected to witness high growth rate over the next few years, due to increasing economic growth and developing healthcare sector.

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Hyperspectral imaging (imaging spectroscopy) systems are the result of extensive research and activity efforts. These systems have various applications in sectors such as healthcare, research and development, food industry, defense sector and others such as remote sensing, calorimetry and night vision. Hyperspectral imaging differs from multispectral imaging based on quality of image and provides greater sensitivity than conventional or multispectral imaging. For instance, multispectral imaging provides 2 to 20 images per dataset, while hyperspectral imaging provides over 20 images per dataset. Also, multispectral imaging gives 4 to 20 data points per pixel, while hyperspectral imaging provides full spectrum per pixel.

Increasing deployment of hyperspectral imaging in healthcare sector creates a highly conducive environment for growth of the hyperspectral imaging market in the near future. Hyperspectral imaging finds wide application in medical imaging, ophthalmology, and is also used in the procedures of gastrointestinal tract, in vascular systems and in tissue diagnosis. It is also an integral part of wound analysis, cell biology, and fluorescence microscopy. Wide application of the technology is mainly attributed to its high accuracy and clarity.

Growth factors and restraints of the hyperspectral imaging market

The innovative products with advanced technology, high patient and operator safety, superior accuracy and consistency are the leading factors driving growth of the hyperspectral imaging market. The major challenge in this market is high cost of this systems, lack of awareness about the applications of these systems, dearth of skilled operators, high investment costs and implementation of healthcare regulatory policies that delay approval for this systems in some regions.

Some are the key companies providing innovative products in this area are Headwall Photonics, HyperMed Imaging, Inc, Spectral Imaging Ltd., imec, Norsk Elektro Optikk AS (NEO), SpekLED GmbH and Resonon.

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Key Developments

Continuous technological innovations and product launches by key players is driving growth of the hyperspectral imaging market. For instance, in June 2018, Headwall Photonics Inc. introduced sensor payloads consisting of hyperspectral sensors and lidar instruments for the unmanned aerial vehicle (UAV) platform.

Moreover, key players are adopting strategies such as facility expansions in order to expand their product output and strengthen their position in the market. In February 2017, Headwall Photonics set up a new facility in Boston, U.S. for its advanced imaging sensor products. According to the company, this expansion will help them achieve growth in three core areas: medical and biotechnology, remote sensing, and machine vision.

Increasing number of product approvals and distribution grants are facilitating demand for hyperspectral imaging systems. In April 2018, HyperMed Imaging, Inc. received the CE Mark approval for the distribution of its HyperView medical imaging system in Europe. The HyperView System is a battery-operated, handheld, portable, and non-invasive diagnostic imaging device used for assessing tissue oxygenation.

Market players are also focused on strategic collaborations and partnerships to expand their product portfolio and market share. In July 2018, SANUWAVE Health, Inc. announced a partnership with HyperMed. The collaboration will include SNUWAVE utilizing HyperMed’s Hyperview spectral imaging device to measure oxyhemoglobin level, deoxyhemoglobin level, and oxygen saturation in superficial tissue.

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