The global medical hyperspectral imaging market revenue was US$ 283.25 million in 2021. The global medical hyperspectral imaging market revenue is forecast to reach US$ 408.80 million by 2030, growing at a compound annual growth rate (CAGR) of 4.10% during the forecast period from 2022 to 2030.

Hyperspectral imaging (HSI) is a new imaging method used in medicine, especially for identifying diseases and guiding surgery. The Hypercube Imager acquires a hypercube dataset, typically a three-dimensional dataset composed of two spatial dimensions and one spectral dimension. Spatially resolved spectrum imaging provides diagnostic information about tissue physiology, shape, and composition. HSI is a promising new medical imaging technology for noninvasive illness diagnosis and surgical guidance.

Factors Influencing Market Growth

As awareness of hyperspectral imaging systems increases, advanced medical imaging capabilities and growth in adoption of hyperspectral imaging imaging systems are driving the global medical hyperspectral imaging market.
Increased awareness, along with safety and ease of use, is forecast to boost the global medical hyperspectral imaging market.
The high cost of investment and lack of medical infrastructure to support these devices may negatively impact the growth of the medical hyperspectral imaging market.
An increase in the number of cancers, heart & liver disease patients, dental problems, amputees, and congenital disorders, and an increase in the elderly population are forecast to boost the overall medical hyperspectral imaging market.
Impact Analysis of COVID-19

The COVID-19 pandemic had negatively impacted the global medical hyperspectral imaging market. The pandemic of COVID-19 forced the complete shutdown of production facilities. Due to this, major players in the market faced supply chain disruptions, and the demand for products significantly decreased. In addition, hospitals and clinics had experienced a decrease in surgical procedures as healthcare systems redirected resources to meet the rising needs of COVID-19 patients.

Regional Insights

The North American market for medical hyperspectral imaging held a major share in 2021 and is forecast to remain dominant during the forecast period. There is an increase in funding and investment in healthcare systems in the U.S. and Canada and a rise in industrial hyperspectral imaging applications due to advancements in hardware and software for image processing and analysis. Additionally, improvements in the healthcare infrastructure and rising demand for surgical accuracy are forecast to drive the medical hyperspectral imaging market during the forecast period.

Leading Competitors

The leading prominent companies profiled in the global medical hyperspectral imaging market are:

Clyde Hyperspectral Imaging and Technology Limited
Cubert, Incorporated
Diaspective Vision GmbH
Headwall Photonics Incorporated
Specim Spectral Imaging Limited
Interuniversity Microelectronics Centre
Norsk Elektro Optikk AS
Resonon Incorporated
Surface Optics Corporation
XIMEA GmbH
Other Prominent Players
Scope of the Report

The global medical hyperspectral imaging market segmentation focuses on Application, Product Type, End-User, and Region.

Segmentation based on Application

Cancer Diagnostics
Image Guided Surgery
Others
Segmentation based on Product Type

Camera
Accessories
Segmentation based on End-User

Diagnostic Centers
Hospitals
Research Centers
Segmentation based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America