Indocyanine Green Market Revenue was valued at USD 200 Million in 2024 and is estimated to reach USD 400 Million by 2033, growing at a CAGR of 8.5% from 2026 to 2033.
The global Indocyanine Green (ICG) market size was valued at USD 1.6 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.3% from 2023 to 2030. The increasing adoption of ICG in medical imaging, including its applications in liver function diagnostics, ophthalmology, and cardiac surgery, is a key factor driving market growth. Additionally, the expanding use of ICG in minimally invasive procedures and growing demand for fluorescence guided surgery is contributing to the market expansion. The market is anticipated to witness significant demand from the healthcare sector, especially in diagnostic imaging, as ICG provides real time visual feedback for improved treatment outcomes. The global market is poised for steady growth, with increasing healthcare spending and advancements in medical technology further fueling the demand for ICG based imaging systems.
Regionally, North America held the largest market share in 2022, accounting for approximately 35% of the global market. This can be attributed to the strong healthcare infrastructure, high healthcare expenditure, and widespread usage of ICG in medical diagnostics and surgery across the United States and Canada. Europe followed closely with a significant share due to the growing adoption of ICG in medical procedures, particularly in countries like Germany and the UK. The Asia Pacific region is expected to witness the highest growth rate during the forecast period, driven by the increasing prevalence of chronic diseases, rising healthcare investments, and growing medical tourism in countries like China, India, and Japan. Latin America and the Middle East & Africa are also showing potential for growth in the Indocyanine Green market due to improving healthcare access and rising medical capabilities in these regions.
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Akorn
PULSION Medical Systems AG
Diagnostic Green
SERB
Daiichi Sankyo Company
Santen Pharmaceutical Co.
Ltd.
Aurolab
Yichuang
Eisai
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Indocyanine Green Market
Ophthalmology
Cardiovascular Imaging
Oncology
Liver Function Assessment
Dermatology
Injectable Solutions
Diagnostic Imaging Agents
Testing Kits
Contrast Agents for Fluorescence Imaging
Hospitals
Diagnostic Laboratories
Research Institutes
Outpatient Surgical Centers
Direct Sales
Online Pharmacies
Retail Pharmacies
Hospital Pharmacies
Room Temperature Storage
Cold Storage
Freeze-Dried Formulations
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Indocyanine Green Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Indocyanine Green Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Indocyanine Green Market, By Type
6. Global Indocyanine Green Market, By Application
7. Global Indocyanine Green Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Indocyanine Green Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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