Photoacoustic Imaging Market

Market Overview:

The global photoacoustic imaging market size reached US$ 96.7 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 302.1 Million by 2032, exhibiting a growth rate (CAGR) of 13.09% during 2024-2032.

Photoacoustic imaging, also known as optoacoustic imaging, is a non-invasive biomedical imaging technique that captures images of biological tissues without using ionizing radiation. It is a hybrid modality that functions on the photoacoustic effect, wherein absorbed optical energy is converted into acoustic energy. It offers various advantages over conventional imaging techniques, including high penetration, depth, and image resolution, no harmful ionizing radiation, and molecular targeting at imaging depth. It is employed in detecting physiological properties and naturally occurring chromophores, such as lipids, melanin, hemoglobin concentration, and water and oxygen saturation. Besides this, it is extensively used for tumor mapping, functioning of the brain, detecting skin melanoma, and measuring methemoglobin. As a result, photoacoustic imaging is gaining immense traction across the globe.

Photoacoustic Imaging Market Trends:

The growing geriatric population, which is highly susceptible to various chronic medical disorders, such as diabetes, cardiovascular, neurological, and orthopedic disorders, represents one of the prominent factors positively influencing the market. In addition, the rising prevalence of cancer, coupled with increasing research studies in the field of non-ionizing radiation for imaging, is strengthening the market growth. In line with this, the rising awareness among individuals and healthcare professionals about the early diagnosis and treatment of cancer is offering a favorable market outlook. Furthermore, the photoacoustic imaging technique finds extensive applications in preclinical studies at educational and research institutions, which is offering lucrative growth opportunities to manufacturers. Apart from this, the introduction of advanced technologies by the leading medical equipment manufacturers and research groups is driving the market. Additionally, the expansion of hospitals and laboratory centers is catalyzing the demand for imaging techniques. Moreover, increasing investments by the leading market players in extensive research and development (R&D) activities to launch novel imaging methods are propelling the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global photoacoustic imaging market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on product, indication, application and end use.

Breakup by Product:

• Imaging Systems
• Components
  • Lasers
  • Transducers
• Contrast Agents
• Software
• Others
   

Breakup by Indication:

• Oncology
• Cardiology
• Neurology
• Hematology
• Others
   

Breakup by Application:

• Pre-Clinical
• Clinical
   

Breakup by End Use:

• Hospital and Clinics
• Research Institution
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Advantest Corporation, Ekspla (EKSMA group), Fujifilm Visualsonics Inc., illumiSonics Inc., InnoLas Laser GmbH, iThera Medical GmbH, kibero GmbH, Litron Lasers Ltd., Opotek LLC, Photosound Technologies Inc., Seno Medical Instruments and Tomowave Laboratories Inc.

Report Coverage:

Key Questions Answered in This Report:

• How has the global photoacoustic imaging market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global photoacoustic imaging market?
• What are the key regional markets?
• What is the breakup of the market based on the product?
• What is the breakup of the market based on the indication?
• What is the breakup of the market based on the application?
• What is the breakup of the market based on the end use?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global photoacoustic imaging market and who are the key players?
• What is the degree of competition in the industry?