The global Increasing expenditure in research and development sector and in the healthcare industry to drive the hyperspectral imaging system market is anticipated to increase at a 4.25 % CAGR to reach value $ 410.24 Million in 2030

Hyperspectral imaging (HSI) is an acquisition of spectral imaging in which each pixel of the image is used to obtain a set of images within certain spectral bands. Growing industrial applications of hyperspectral imaging and rising investments in the R&D operations, healthcare industry, food sector, and defense sector among others are key drivers of market growth. Furthermore, other fields such as night vision, remote sensing, and calorimetry are moderately adopting the hyperspectral imaging systems. Additionally, technological advances such as high spatial resolution, light weight devices, high spectral resolution, and sensor design devices are expected to further increase the adoption of the hyperspectral imaging system. In addition, identifying and detecting plant diseases is important for the targeted and appropriate application of plant protection measures in crop production. Hyperspectral sensors are an important device for identification, disease detection and quantification on different scales from the tissue to the canopy level. Nowadays, plant disease detection demand is rising due to increasing demand for more crop production across the world. Hence, these factors further contribute to the growth of the hyperspectral imaging systems market globally. However, high costs associated with the use of hyperspectral imaging along with data storage issues are expected to limit the growth of this market.

The medical diagnostics segment is likely to hold the largest revenue in the global market

Hyperspectral imaging (HSI) is an emerging imaging modality in medical applications, mainly in the diagnosis of disease and the surgery with image guidance. Hyperspectral imaging is being increasinglty utilized in cancer detection, retinal imaging, diabetic foot, tissue pathology, gallbladder surgery, abdominal surgery, and renal surgery. Hence, it is widely used in the healthcare industry including medical diagnostics and surgical guidance, which further expands the growth of the global hyperspectral imaging system market.

North America is anticipated to dominate the global market

Geographically, the global hyperspectral imaging system is classified into North America, Europe, Asia Pacific, Central & South America, and the Middle East & Africa. Among these regions, North America is expected to hold the largest revenue share owing to high demand including consumption of hyperspectral imaging systems. Factors such as high healthcare expenditure along with the accessibility of reliable healthcare services and the increasing adoption of new technologies contribute to the growth of the market. In addition, Asia Pacific is projected to show a lucrative growth rate during the forecast period, owing to an increasing health care expenditure and adoption of advanced technologies are boosting the growth of the hyperspectral imaging system market across the region.

Key Market Players
            •    Headwall Photonics, Inc.
            •    Applied Spectral Imaging, Inc.
            •    Corning Incorporated
            •    Resonon, Inc.
            •    Telops, Inc.
            •    Cubert GmbH
            •    Spectral Imaging Ltd
            •    inno-spec GmbH
            •    Surface Optics Corporation
            •    ChemImage Corporation

hyperspectral imaging system market Scope

Key Segment Of The hyperspectral imaging system market

By Product (USD Million)            
    •    Visible/Near Infrared (Vnir)
    •    Short Wave Infrared (Swir)
    •    Mid Wave Infrared (Mwir)
    •    Long Wave Infrared (Lwir)
By Application (USD Million)
    •    Surveillance
    •    Remote Sensing
    •    Machine Vision/Optical
    •    Medical Diagnostics
Regional Overview (USD Million)
    North America
      •    US
      •    Canada
    Europe
      •    Germany
      •    France
      •    UK
      •    Rest of Europe
    Asia Pacific
      •    China
      •    India
      •    Japan
      •    Rest of Asia Pacific
    South America
      •    Mexico
      •    Brazil
      •    Rest of South America
    Middle East and South Africa