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The Worldwide Photoacoustic Imaging Industry is Expected to Reach $235.9 Million by 2028

·7-min read

Dublin, Dec. 21, 2021 (GLOBE NEWSWIRE) -- The "Global Photoacoustic Imaging Market Size, Share & Trends Analysis Report by Product (PAT, PAM), Type (Pre-clinical, Clinical), Application (Oncology, Cardiology, Angiology), Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.

The global photoacoustic imaging market size is expected to reach USD 235.9 million by 2028, registering a CAGR of 19% over the forecast period, according to the report.

A rise in the number of cancer cases worldwide and a growing scope of applications are driving the market. In addition, increasing usage of the photoacoustic imaging(PAI) system in research studies in the field of non-ionizing radiation is expected to boost the market growth. When compared to other imaging modalities, PAI improves understanding, characterization, and monitoring of pathologies, allowing for earlier detection, more accurate diagnosis, and better disease management. PAI has grown significantly in the last two decades due to advantages like high resolution, high contrast, deep imaging, and the capacity to perform multiscale structural and functional imaging.

An increase in demand for PAI in research and development activities is likely to boost market growth over the forecast period. However, present imaging systems have some limitations in terms of cost, acquisition time, and limitations set by ANSI laser safety regulations, which may have a negative impact on the overall market. The growing number of applications in the field of oncology, cardiology, angiology, orthopedics, histology, and interventional radiology is likely to contribute to market expansion, such as diagnosis of cancer as well as conditions like fibrosis, perfusion, edema, hypoxia, and necrosis. Its ability to analyze functional data, such as hemoglobin concentration, oxygen saturation, and fat content, is also remarkable.

The prominent market players are taking different initiatives, such as the acquisition and funding of medium- and small-sized businesses, to expand their product portfolio and enhance their manufacturing capacity. For instance, in October 2021, iThera Medical, a medical device company, announced its funding for the Horizon Europe technology innovation project FRONTIER.iThera Medical will use this project to translate its patented optoacoustic imaging technology from the research facility to routine clinical imaging, giving clinicians throughout the world a powerful new diagnostic tool.

Photoacoustic Imaging Market Report Highlights

  • The Photoacoustic Tomography (PAT) segment dominated the market in 2020 and is expected to continue its dominance throughout the forecast period

  • The preclinical type segment dominated the market in 2020 owing to the widespread use of PAI in the research studies

  • The clinical segment is estimated to grow at the fastest CAGR over the forecast period due to the expanding spectrum of applications in clinical studies

  • The oncology application segment held the largest share in 2020. PAI system can detect tumors in radiologically dense breasts without causing painful breast compression, which drives their demand in this application segment

  • North America dominated the market and accounted for the largest revenue share in 2020

  • Asia Pacific is anticipated to be the fastest-growing regional market over the forecast period

  • The growth is credited to the presence of untapped opportunities in the emerging economies, such as China and India

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary

Chapter 3. Photoacoustic Imaging Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Reimbursement framework
3.4. Market Dynamics
3.4.1. Market driver analysis
3.4.1.1. Increasing prevalence of cancer
3.4.1.2. Rise in research studies in the field of non-ionizing radiation
3.4.1.3. Increasing range of applications
3.4.2. Market restraint analysis
3.4.2.1. High cost of photoacoustic imaging system
3.4.2.2. Limited bandwidth to capture tomographic data
3.4.2.3. Limitations set by ANSI laser safety regulations
3.5. Photoacoustic Imaging Market Analysis Tools
3.5.1. Industry Analysis - Porter's
3.5.1.1. Supplier power
3.5.1.2. Buyer power
3.5.1.3. Substitution threat
3.5.1.4. Threat of new entrant
3.5.1.5. Competitive rivalry
3.5.2. PESTEL Analysis
3.5.2.1. Political landscape
3.5.2.2. Technological landscape
3.5.2.3. Economic landscape
3.5.3. Major Deals & Strategic Alliances Analysis
3.5.4. Market Entry Strategies

Chapter 4. Photoacoustic Imaging Market: Product Estimates & Trend Analysis
4.1. Definitions and Scope
4.1.1. Photoacoustic tomography
4.1.2. Photoacoustic microscopy
4.2. Product Market Share, 2020 & 2028
4.3. Segment Dashboard
4.4. Global Photoacoustic Imaging Market by Product Outlook
4.5. Market Size & Forecasts and Trend Analyses, 2016 to 2028 for the following
4.5.1. Photoacoustic Tomography
4.5.1.1. Photoacoustic tomography market estimates and forecast 2016 to 2028 (USD Million)
4.5.2. Photoacoustic Microscopy
4.5.2.1. Photoacoustic microscopy market estimates and forecast 2016 to 2028 (USD Million)

Chapter 5. Photoacoustic Imaging Market: Type Estimates & Trend Analysis
5.1. Definitions and Scope
5.1.1. Pre-clinical
5.1.2. Clinical
5.2. Type Market Share, 2020 & 2028
5.3. Segment Dashboard
5.4. Global Photoacoustic Imaging Market by Type Outlook
5.5. Market Size & Forecasts and Trend Analyses, 2016 to 2028 for the following
5.5.1. Pre-clinical
5.5.1.1. Pre-clinical market estimates and forecast 2016 to 2028 (USD Million)
5.5.2. Clinical
5.5.2.1. Clinical market estimates and forecast 2016 to 2028 (USD Million)

Chapter 6. Photoacoustic Imaging Market: Application Estimates & Trend Analysis
6.1. Definitions and Scope
6.1.1. Oncology
6.1.2. Cardiology
6.1.3. Angiology
6.1.4. Histology
6.1.5. Interventional radiology
6.2. Application Market Share, 2020 & 2028
6.3. Segment Dashboard
6.4. Global Photoacoustic Imaging Market by Application Outlook
6.5. Market Size & Forecasts and Trend Analyses, 2016 to 2028 for the following
6.5.1. Oncology
6.5.1.1. Oncology market estimates and forecast 2016 to 2028 (USD Million)
6.5.2. Cardiology
6.5.2.1. Cardiology estimates and forecast 2016 to 2028 (USD Million)
6.5.3. Angiology
6.5.3.1. Angiology market estimates and forecast 2016 to 2028 (USD Million)
6.5.4. Histology
6.5.4.1. Histology market estimates and forecast 2016 to 2028 (USD Million)
6.5.5. Interventional radiology
6.5.5.1. Interventional radiology market estimates and forecast 2016 to 2028 (USD Million)

Chapter 7. Photoacoustic Imaging Market: Regional Estimates & Trend Analysis

Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Company/Competition Categorization
8.2.1. Innovators
8.3. Vendor Landscape
8.3.1. List of key distributors and channel partners
8.3.2. Key customers
8.3.3. Key company market share analysis, 2020
8.3.4. Advantest Corporation
8.3.4.1. Company Overview
8.3.4.2. Financial performance
8.3.4.3. Product Benchmarking
8.3.4.4. Strategic Initiatives
8.3.5. TomoWave
8.3.5.1. Company Overview
8.3.5.2. Financial performance
8.3.5.3. Product Benchmarking
8.3.5.4. Strategic Initiatives
8.3.6. Kibero GmbH
8.3.6.1. Company Overview
8.3.6.2. Financial performance
8.3.6.3. Product Benchmarking
8.3.6.4. Strategic Initiatives
8.3.7. FUJIFILM VisualSonics Inc.
8.3.7.1. Company Overview
8.3.7.2. Financial performance
8.3.7.3. Product Benchmarking
8.3.7.4. Strategic Initiatives
8.3.8. Seno Medical Instruments
8.3.8.1. Company Overview
8.3.8.2. Financial performance
8.3.8.3. Product Benchmarking
8.3.8.4. Strategic Initiatives
8.3.9. iThera Medical GmbH
8.3.9.1. Company Overview
8.3.9.2. Financial performance
8.3.9.3. Product Benchmarking
8.3.9.4. Strategic Initiatives
8.3.10. Aspectus GmbH
8.3.10.1. Company Overview
8.3.10.2. Financial performance
8.3.10.3. Product Benchmarking
8.3.10.4. Strategic Initiatives
8.3.11. Vibronix Inc.
8.3.11.1. Company Overview
8.3.11.2. Financial performance
8.3.11.3. Product Benchmarking
8.3.11.4. Strategic Initiatives

For more information about this report visit https://www.researchandmarkets.com/r/nvnuys

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900


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