APO RESEARCH · REPORT
Indocyanine Green
Indocyanine green (ICG) a cyanine dye used in medical diagnostics to determine cardiac output, hepatic function, and liver blood flow, and for ophthalmic angiography. It is a sterile, lyophilized green powder with a peak spectral absorption at 800 nm. These infrared frequencies penetrate retinal layers, allowing ICG angiography to image deeper patterns of circulation than fluorescein angiography.
Product & engineering
Understand the product.
Indocyanine green (ICG) a cyanine dye used in medical diagnostics to determine cardiac output, hepatic function, and liver blood flow, and for ophthalmic angiography. It is a sterile, lyophilized green powder with a peak spectral absorption at 800 nm. These infrared frequencies penetrate retinal layers, allowing ICG angiography to image deeper patterns of circulation than fluorescein angiography.
Selected research
Industry Research
Indocyanine Green Industry Research Report 2026
Market perspective
Indocyanine green (ICG) a cyanine dye used in medical diagnostics to determine cardiac output, hepatic function, and liver blood flow, and for ophthalmic angiography. It is a sterile, lyophilized green powder with a peak spectral absorption at 800 nm. These infrared frequencies penetrate retinal layers, allowing ICG angiography to image deeper patterns of circulation than fluorescein angiography.
Europe is the largest market with about 52% market share. USA and China are follower, accounting for about 33% market share.
The key players are Akorn, PULSION Medical Systems AG, Diagnostic Green, SERB, Daiichi Sankyo Company, Santen Pharmaceutical Co., Ltd., Aurolab, Yichuang, Eisai etc. Top 3 companies occupied about 60% market share.
Read the full market overview
Report Scope
This report quantifies the global Indocyanine Green market in terms of revenue (US$ million) and, where applicable, sales volume (K Nos), using 2025 as the base year and providing annual historical and forecast data for 2021–2032.
It standardizes definitions of Types and Applications, harmonizes vendor attribution, and presents comparable time series by company, Type, Application, and region/country, including indicative price bands (US$/K Nos) and concentration ratios (CR5/CR10).
The outputs are intended to support strategy development, budgeting, and performance benchmarking for brand owners, manufacturers, retailers, channel partners, and investors; data are structured with consistent units and fields to facilitate integration into internal FP&A and BI systems.
Key Companies & Market Share Insights
This section profiles leading manufacturers, combining 2021–2025 results with a 2026–2032 outlook. It reports revenue, market share, price bands, product and application mix, regional and channel mix, and key developments (M&A, capacity additions, certifications). It also provides global revenue, average price, and—where applicable—sales volume by manufacturer, and calculates CR5/CR10 and rank changes to support comparative benchmarking.
Indocyanine Green Market by Company
Akorn
PULSION Medical Systems AG
Diagnostic Green
SERB
Daiichi Sankyo Company
Santen Pharmaceutical Co., Ltd.
Aurolab
Yichuang
Eisai
Indocyanine Green Segment by Type
Type I
Type II
Indocyanine Green Segment by Application
Ophthalmology
Neurosurgery
Liver Diseases
Others
Indocyanine Green Segment by Region
North America
United States
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Spain
Netherlands
Switzerland
Sweden
Poland
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Southeast Asia
South America
Brazil
Argentina
Chile
Middle East & Africa
Egypt
South Africa
Israel
Türkiye
GCC Countries
Key Drivers & Barriers
High-impact rendering factors and drivers have been studied in this report to aid the readers to understand the general development. Moreover, the report includes restraints and challenges that may act as stumbling blocks on the way of the players. This will assist the users to be attentive and make informed decisions related to business. Specialists have also laid their focus on the upcoming business prospects.
Reasons to Buy This Report
1. This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Indocyanine Green market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.
2. This report will help stakeholders to understand the global industry status and trends of Indocyanine Green and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in volume and value), competitor ecosystem, new product development, expansion, and acquisition.
4. This report stays updated with novel technology integration, features, and the latest developments in the market
5. This report helps stakeholders to gain insights into which regions to target globally
6. This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Indocyanine Green.
7. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.
Chapter Outline
Chapter 1: Research objectives, research methods, data sources, data cross-validation;
Chapter 2: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc.), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 3: Detailed analysis of Indocyanine Green manufacturers competitive landscape, price, production and value market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product production/output, value, price, gross margin, product introduction, recent development, etc.
Chapter 5: Production/output, value of Indocyanine Green by region/country. It provides a quantitative analysis of the market size and development potential of each region in the next six years.
Chapter 6: Consumption of Indocyanine Green in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and production of each country in the world.
Chapter 7: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 8: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 10: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 11: The main points and conclusions of the report.
More report detail
Tables and figures
Scope & coverage.
Types
- Type I
- Type II
Applications
- Ophthalmology
- Neurosurgery
- Liver Diseases
- Others
Companies covered
- Akorn
- PULSION Medical Systems AG
- Diagnostic Green
- SERB
- Daiichi Sankyo Company
- Santen Pharmaceutical Co., Ltd.
- Aurolab
- Yichuang
- Eisai
Inside the report.
1 Preface
- 1.1 Scope of Report
- 1.2 Reasons for Doing This Study
- 1.3 Research Methodology
- 1.4 Research Process
- 1.5 Data Source
- 1.5.1 Secondary Sources
- 1.5.2 Primary Sources
2 Market Overview
- 2.1 Product Definition
- 2.2 Global Market Growth Prospects
- 2.2.1 Global Indocyanine Green Market Size (2021-2032)
- 2.2.2 Global Indocyanine Green Sales (2021-2032)
- 2.2.3 Global Indocyanine Green Market Average Price (2021-2032)
- 2.3 Indocyanine Green by Type
- 2.3.1 Market Value Comparison by Type (2021 VS 2025 VS 2032) & (US$ Million)
- 2.3.2 Type I
- 2.3.3 Type II
- 2.4 Indocyanine Green by Application
- 2.4.1 Market Value Comparison by Application (2021 VS 2025 VS 2032)
- 2.4.2 Ophthalmology
- 2.4.3 Neurosurgery
- 2.4.4 Liver Diseases
- 2.4.5 Others
3 Market Competitive Landscape by Manufacturers
- 3.1 Global Indocyanine Green Market Competitive Situation by Manufacturers (2021 Versus 2025)
- 3.2 Global Indocyanine Green Sales (K Nos) of Manufacturers (2021-2026)
- 3.3 Global Indocyanine Green Revenue of Manufacturers (2021-2026)
- 3.4 Global Indocyanine Green Average Price by Manufacturers (2021-2026)
- 3.5 Global Indocyanine Green Industry Ranking, 2024 VS 2025 VS 2026
- 3.6 Global Manufacturers of Indocyanine Green, Manufacturing Sites & Headquarters
- 3.7 Global Manufacturers of Indocyanine Green, Product Type & Application
- 3.8 Global Manufacturers of Indocyanine Green, Established Date
- 3.9 Global Indocyanine Green Market CR5 and HHI
- 3.10 Global Manufacturers Mergers & Acquisition
4 Manufacturers Profiled
- 4.1 Akorn
- 4.1.1 Akorn Company Information
- 4.1.2 Akorn Business Overview
- 4.1.3 Akorn Indocyanine Green Sales, Revenue and Gross Margin (2021-2026)
- 4.1.4 Akorn Indocyanine Green Product Portfolio
- 4.1.5 Akorn Recent Developments
- 4.2 PULSION Medical Systems AG
- 4.2.1 PULSION Medical Systems AG Company Information
- 4.2.2 PULSION Medical Systems AG Business Overview
- 4.2.3 PULSION Medical Systems AG Indocyanine Green Sales, Revenue and Gross Margin (2021-2026)
- 4.2.4 PULSION Medical Systems AG Indocyanine Green Product Portfolio
- 4.2.5 PULSION Medical Systems AG Recent Developments
- 4.3 Diagnostic Green
- 4.3.1 Diagnostic Green Company Information
- 4.3.2 Diagnostic Green Business Overview
- 4.3.3 Diagnostic Green Indocyanine Green Sales, Revenue and Gross Margin (2021-2026)
- 4.3.4 Diagnostic Green Indocyanine Green Product Portfolio
- 4.3.5 Diagnostic Green Recent Developments
- 4.4 SERB
- 4.4.1 SERB Company Information
- 4.4.2 SERB Business Overview
- 4.4.3 SERB Indocyanine Green Sales, Revenue and Gross Margin (2021-2026)
- 4.4.4 SERB Indocyanine Green Product Portfolio
- 4.4.5 SERB Recent Developments
- 4.5 Daiichi Sankyo Company
- 4.5.1 Daiichi Sankyo Company Company Information
- 4.5.2 Daiichi Sankyo Company Business Overview
- 4.5.3 Daiichi Sankyo Company Indocyanine Green Sales, Revenue and Gross Margin (2021-2026)
- 4.5.4 Daiichi Sankyo Company Indocyanine Green Product Portfolio
- 4.5.5 Daiichi Sankyo Company Recent Developments
- 4.6 Santen Pharmaceutical Co., Ltd.
- 4.6.1 Santen Pharmaceutical Co., Ltd. Company Information
- 4.6.2 Santen Pharmaceutical Co., Ltd. Business Overview
- 4.6.3 Santen Pharmaceutical Co., Ltd. Indocyanine Green Sales, Revenue and Gross Margin (2021-2026)
- 4.6.4 Santen Pharmaceutical Co., Ltd. Indocyanine Green Product Portfolio
- 4.6.5 Santen Pharmaceutical Co., Ltd. Recent Developments
- 4.7 Aurolab
- 4.7.1 Aurolab Company Information
- 4.7.2 Aurolab Business Overview
- 4.7.3 Aurolab Indocyanine Green Sales, Revenue and Gross Margin (2021-2026)
- 4.7.4 Aurolab Indocyanine Green Product Portfolio
- 4.7.5 Aurolab Recent Developments
- 4.8 Yichuang
- 4.8.1 Yichuang Company Information
- 4.8.2 Yichuang Business Overview
- 4.8.3 Yichuang Indocyanine Green Sales, Revenue and Gross Margin (2021-2026)
- 4.8.4 Yichuang Indocyanine Green Product Portfolio
- 4.8.5 Yichuang Recent Developments
- 4.9 Eisai
- 4.9.1 Eisai Company Information
- 4.9.2 Eisai Business Overview
- 4.9.3 Eisai Indocyanine Green Sales, Revenue and Gross Margin (2021-2026)
- 4.9.4 Eisai Indocyanine Green Product Portfolio
- 4.9.5 Eisai Recent Developments
5 Global Indocyanine Green Market Scenario by Region
- 5.1 Global Indocyanine Green Market Size by Region: 2021 VS 2025 VS 2032
- 5.2 Global Indocyanine Green Sales by Region: 2021-2032
- 5.2.1 Global Indocyanine Green Sales by Region: 2021-2026
- 5.2.2 Global Indocyanine Green Sales by Region: 2027-2032
- 5.3 Global Indocyanine Green Revenue by Region: 2021-2032
- 5.3.1 Global Indocyanine Green Revenue by Region: 2021-2026
- 5.3.2 Global Indocyanine Green Revenue by Region: 2027-2032
- 5.4 North America Indocyanine Green Market Facts & Figures by Country
- 5.4.1 North America Indocyanine Green Market Size by Country: 2021 VS 2025 VS 2032
- 5.4.2 North America Indocyanine Green Sales by Country (2021-2032)
- 5.4.3 North America Indocyanine Green Revenue by Country (2021-2032)
- 5.4.4 United States
- 5.4.5 Canada
- 5.4.6 Mexico
- 5.5 Europe Indocyanine Green Market Facts & Figures by Country
- 5.5.1 Europe Indocyanine Green Market Size by Country: 2021 VS 2025 VS 2032
- 5.5.2 Europe Indocyanine Green Sales by Country (2021-2032)
- 5.5.3 Europe Indocyanine Green Revenue by Country (2021-2032)
- 5.5.4 Germany
- 5.5.5 France
- 5.5.6 U.K.
- 5.5.7 Italy
- 5.5.8 Russia
- 5.5.9 Spain
- 5.5.10 Netherlands
- 5.5.11 Switzerland
- 5.5.12 Sweden
- 5.5.13 Poland
- 5.6 Asia Pacific Indocyanine Green Market Facts & Figures by Country
- 5.6.1 Asia Pacific Indocyanine Green Market Size by Country: 2021 VS 2025 VS 2032
- 5.6.2 Asia Pacific Indocyanine Green Sales by Country (2021-2032)
- 5.6.3 Asia Pacific Indocyanine Green Revenue by Country (2021-2032)
- 5.6.4 China
- 5.6.5 Japan
- 5.6.6 South Korea
- 5.6.7 India
- 5.6.8 Australia
- 5.6.9 Taiwan
- 5.6.10 Southeast Asia
- 5.7 South America Indocyanine Green Market Facts & Figures by Country
- 5.7.1 South America Indocyanine Green Market Size by Country: 2021 VS 2025 VS 2032
- 5.7.2 South America Indocyanine Green Sales by Country (2021-2032)
- 5.7.3 South America Indocyanine Green Revenue by Country (2021-2032)
- 5.7.4 Brazil
- 5.7.5 Argentina
- 5.7.6 Chile
- 5.8 Middle East and Africa Indocyanine Green Market Facts & Figures by Country
- 5.8.1 Middle East and Africa Indocyanine Green Market Size by Country: 2021 VS 2025 VS 2032
- 5.8.2 Middle East and Africa Indocyanine Green Sales by Country (2021-2032)
- 5.8.3 Middle East and Africa Indocyanine Green Revenue by Country (2021-2032)
- 5.8.4 Egypt
- 5.8.5 South Africa
- 5.8.6 Israel
- 5.8.7 Türkiye
- 5.8.8 GCC Countries
6 Segment by Type
- 6.1 Global Indocyanine Green Sales by Type (2021-2032)
- 6.1.1 Global Indocyanine Green Sales by Type (2021-2032) & (K Nos)
- 6.1.2 Global Indocyanine Green Sales Market Share by Type (2021-2032)
- 6.2 Global Indocyanine Green Revenue by Type (2021-2032)
- 6.2.1 Global Indocyanine Green Sales by Type (2021-2032) & (US$ Million)
- 6.2.2 Global Indocyanine Green Revenue Market Share by Type (2021-2032)
- 6.3 Global Indocyanine Green Price by Type (2021-2032)
7 Segment by Application
- 7.1 Global Indocyanine Green Sales by Application (2021-2032)
- 7.1.1 Global Indocyanine Green Sales by Application (2021-2032) & (K Nos)
- 7.1.2 Global Indocyanine Green Sales Market Share by Application (2021-2032)
- 7.2 Global Indocyanine Green Revenue by Application (2021-2032)
- 7.2.1 Global Indocyanine Green Sales by Application (2021-2032) & (US$ Million)
- 7.2.2 Global Indocyanine Green Revenue Market Share by Application (2021-2032)
- 7.3 Global Indocyanine Green Price by Application (2021-2032)
8 Value Chain and Sales Channels Analysis of the Market
- 8.1 Indocyanine Green Value Chain Analysis
- 8.1.1 Indocyanine Green Key Raw Materials
- 8.1.2 Raw Materials Key Suppliers
- 8.1.3 Indocyanine Green Production Mode & Process
- 8.2 Indocyanine Green Sales Channels Analysis
- 8.2.1 Direct Comparison with Distribution Share
- 8.2.2 Indocyanine Green Distributors
- 8.2.3 Indocyanine Green Customers
9 Global Indocyanine Green Analyzing Market Dynamics
- 9.1 Indocyanine Green Industry Trends
- 9.2 Indocyanine Green Industry Drivers
- 9.3 Indocyanine Green Industry Opportunities and Challenges
- 9.4 Indocyanine Green Industry Restraints
10 Report Conclusion
11 Disclaimer
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