The near-infrared imaging market in the Asia Pacific is projected to witness substantial growth at a CAGR of 15.19% during the projected period between 2019 and 2027. The widespread presence of various diseases ranging from cancer to cardiovascular disorders, coupled with increasing healthcare expenditure, are the eminent factors boosting the market growth in the region.
The market of near-infrared imaging in the Asia Pacific region is analyzed through the countries of South Korea, Japan, India, China, Australia, and the Rest of Asia Pacific. The Asia Pacific region encompasses certain types of cancers, like stomach cancer and colon cancer. In countries like China, many big industry players are investing in the development and manufacturing of medical equipment. The cosmetic procedures in the country are facing increased demands as a result of increasing cases of obesity. In countries like India, the near-infrared imaging market is driven by government initiatives with respect to the manufacturing of medical devices. There have also been active participation from the government in promoting medical devices, along with permitting foreign direct investment in the medical devices domain. The cosmetic procedures in the region have undergone phenomenal changes in the past few years. There is an increasing demand for cosmetic procedures due to the rising disposable income, and the advancements in technologies. Such factors are expected to influence the growth of the near-infrared imaging market in the Indian region.
Shimadzu Corporation, Mizuho Medical Co., Ltd., Medtronic Plc., Perkinelmer Inc., Stryker Corporation (Novadaq Technologies Inc.), Quest Innovations B.V., are among the elite players in the market.
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