Hyperspectral Imaging Market Evolving Technology, Trends and Growth Analysis 2015 to 2021

Hyperspectral imaging is the process of collecting and processing of information across the electromagnetic spectrum. It is the combination of spectroscopy and digital imaging, implemented to create a spectral based contrast within the image. Hyperspectral images are formed with the help of an instrument called imaging spectrometer. These images are obtained at multiple wavelengths and shaped into a three-dimensional hyperspectral data cube with two spatial dimensions and one spectral dimension. Hyperspectral imaging also measures absorption of electromagnetic radiation, emission, and reflection; and provides a unique spectral signature for every pixel, used by processing techniques to identify and discriminate materials. Some of the advantages of hyperspectral imaging are the non-requirement of prior knowledge of the sample and the acquisition of entire spectrum at each point. In addition, it is an emerging imaging modality for the diagnosis of diseases and image guided surgeries. It provides extensive information for processing and analysis of the image. It also provides a continuous spectrum for each image cell and offers diagnostic information regarding tissue composition, morphology, and physiology. In addition, during the progression of the disease, the absorption, scattering, and fluorescence characteristics of the tissue change, and hyperspectral imaging helps in the diagnosis of the tissue pathology. It helps in diagnosis and treatment of diseases. It also helps improve the quality of life and reduces medical cost. It is also used in industries such as agriculture, mining, environmental monitoring, food, mining and mineralogy, military surveillance, life-science and medical diagnostics, and process vision. In the agriculture industry, hyperspectral imaging is used to monitor the development and health of crops.

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North America dominates the global market for hyperspectral imaging due to the increase in research activities carried out using hyperspectral imaging and its growing adoption in areas such as military surveillance, mining, life sciences, and diagnostics in the region. Asia is expected to show a high growth rate in the next five years in the global hyperspectral imaging market, with China and India being the fastest-growing markets in the region. The key driving forces for the hyperspectral imaging market in the developing countries in Asia Pacific are: the presence of a large pool of patients, growing number of research projects, rising pharmaceutical industries, increasing usage of hyperspectral imaging in environmental testing, mining explorations and research activities, increasing health care awareness, increasing health care expenditure, and rising government funding for research activities in the region.

Increasing adoption of hyperspectral imaging in ophthalmology, gastrointestinal tract, surface tissue, vascular system and mucosal membrane analysis; technological advancements in hyperspectral imaging, and the increasing use of hyperspectral imaging for carrying out various research activities are fuelling the growth of the global hyperspectral imaging market. In addition, growing adoption of hyperspectral imaging in military surveillance, mining, life sciences, and diagnostics; increasing health care awareness, increasing demand for diagnosis, increasing health care expenditure, rising government initiatives, and demand for data accuracy and consistency are some of the key factors driving the growth of the global hyperspectral imaging market. Meanwhile, high installation cost, lack of skilled professionals, and reimbursement issues act as the major restraints for the growth of the global hyperspectral imaging market.

The major companies operating in the global hyperspectral imaging market are Applied Spectral Imaging, Ltd., Brandywine Photonics LLC, ChemImage Corporation, Cubert-GmbH, CytoViva, Inc., Gilden Photonics Ltd., HyVista Corporation Pty Ltd., Headwall Photonics, Inc., Specim Spectral Imaging Ltd., Norsk Elektro Optics A/S, and TELOPS, Inc.

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