Global Photoacoustic Imaging System Market

Report ID : 1164 | Published : 2022-09-12 | Pages: 190 | Format: PDF/EXCEL

According to the most recent report by Insightace Analytics, the global market for photoacoustic imaging systems was worth $71.31 million in 2021. It is anticipated to reach $327.13 million by 2030, with a CAGR of 18.9% between 2022 and 2030.Photoacoustic Imaging has emerged as a modality of biomedical imaging that is non-invasive and non-ionizing in vivo with a relatively deep tissue imaging ability. Photoacoustic imaging systems provide multi-contrast, multi-scale imaging and biological features ranging from organelles to organs. Moreover, it offers multiple advantages such as high penetration depth, high image resolution, no harmful ionizing radiation, and molecular targeting at imaging depth, among others. Photoacoustic imaging uses light as a source of excitation and an ultrasonic image to detect sound waves produced by the targets that are optically excited and to form images of optical absorption. In the last two decades, photoacoustic imaging system has been rapidly gaining popularity and explored for biomedical imaging applications. The increasing number of non-communicable diseases and the rising demand for non-invasive imaging are the major factors driving the market growth. The non-communicable diseases such as cancers, diabetes, and chronic kidney disease are increasing rapidly, which is further expected to propel the market growth.

Moreover, rising awareness for early disease diagnosis is also anticipated to boost the adoption of photoacoustic imaging systems across the globe. However, high investment and installation costs are likely to hamper market growth. Conversely, the increasing support from the government and the launch of reimbursement schemes are projected expected to offer lucrative opportunities to the global market.

The Photoacoustic Imaging System Market is a segment based on product type, application, end-user, and geography. In terms of product type, the global market is segregated into imaging systems and components. The imaging systems category is estimated to grow significantly in the upcoming years. The imaging systems and components such as laser and transducer are used during the imaging process. Based on application includes pre-clinical, analytics, and clinical. The rapidly expanding clinical applications of photoacoustic imaging, including dermatologic imaging, breast imaging, carotid artery imaging, vascular imaging, gastrointestinal imaging, musculoskeletal imaging, and adipose tissue imaging, are expected to propel the global market growth. Photoacoustic imaging is also used to detect lipid, melanin, collagen, water, and contrast agents specifically designed to locate various biomarkers. Moreover, the demand for photoacoustic imaging systems is increasing in pre-clinical research, particularly for the early detection of cardiovascular diseases, cancer, and abnormalities in microcirculation.
Based on the end-user, the market is segmented into research institutions, hospitals, and specialty clinics. In 2019, the hospitals' segment was estimated to account for the largest share in the global market. The photoacoustic imaging system is used in clinical practices to screen and diagnose diseases as well as to monitor therapies. It is routinely used in many settings in hospitals for several clinical applications, such as radiology, cardiology, and interventional procedures.
Geographically, the Global Photoacoustic Imaging System Market has been segmented into North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. In terms of revenue, North America accounted for the largest share of the global photoacoustic imaging system market in 2019. Owing to the introduction of innovative devices with advanced technology, these regions are dominating. Additionally, the presence of key companies and increasing focus to ensure better outcomes in the treatment procedures is projected to boost the market within the regions. Moreover, Europe photoacoustic imaging system market is the second largest market owing to the enhancement of healthcare facilities and growing investments in the research institutes. Furthermore, the Asia Pacific is expected to grow at the fastest pace with the rising geriatric population in the region.
Some of the market players leading the Global Photoacoustic Imaging System Market include OPOTEK LLC, InnoLas Laser GmbH, FUJIFILM VisualSonics, Inc., iThera Medical GmbH, Kibero, PhotoSound Technologies Inc., EKSPLA, Seno Medical Instruments Inc., Teem Photonics, Verasonics, Inc., PA Imaging R&D B.V., TomoWave Laboratories, Inc., Vibronix, Inc., and ENDRA Life Sciences Inc. among others.

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Photoacoustic Imaging Systems Market Snapshot

Chapter 4. Global Photoacoustic Imaging Systems Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Market Dynamics - Drivers

4.3. Challenges/Restraints

4.4. Market Trends

4.5. Industry Analysis – Porter’s Five Forces Analysis

4.6. Competitive Landscape & Market Share Analysis

Chapter 5. Market Segmentation 1: Product Type Estimates & Trend Analysis

5.1. Product Type & Market Share, 2018 & 2028

5.2. Market Size (Value & Volume) & Forecasts and Trend Analyses, 2016 to 2026 for the following Product Type:

5.2.1. Imaging Systems

5.2.2. Components (Lasers and Transducers)

Chapter 6. Market Segmentation 1: Application Estimates & Trend Analysis

6.1. Application & Market Share, 2018 & 2028

6.2. Market Size (Value & Volume) & Forecasts and Trend Analyses, 2016 to 2026 for the following Application:

6.2.1. Pre-clinical

6.2.2. Analytics

6.2.3. Clinical

Chapter 7. Photoacoustic Imaging Systems Market Segmentation 2: End-user Estimates & Trend Analysis

7.1. End-user Analysis & Market Share, 2018 & 2028

7.2. Market Size (Value & Volume) & Forecasts and Trend Analyses, 2016 to 2026 for the following End-user:

7.2.1. Research Institutions

7.2.2. Hospitals

7.2.3. Specialty Clinics

Chapter 8. Photoacoustic Imaging Systems Market Segmentation 3: Regional Estimates & Trend Analysis

8.1. North America

8.1.1. North America Photoacoustic Imaging Systems Market revenue (US$ Million) and volume (No. of Units) estimates and forecasts by Product Type, 2018-2028

8.1.2. North America Photoacoustic Imaging Systems Market revenue (US$ Million) and volume (No. of Units) estimates and forecasts by Application, 2018-2028

8.1.3. North America Photoacoustic Imaging Systems Market revenue (US$ Million) and volume (No. of Units) estimates and forecasts by End-user, 2018-2028

8.1.4. North America Photoacoustic Imaging Systems Market revenue (US$ Million) and volume (No. of Units) estimates and forecasts by country, 2018-2028

8.1.4.1. U.S.

8.1.4.2. Canada

8.2. Europe

8.2.1. Europe Photoacoustic Imaging Systems Market revenue (US$ Million) and volume (No. of Units) estimates and forecasts by Product Type, 2018-2028

8.2.2. Europe Photoacoustic Imaging Systems Market revenue (US$ Million) and volume (No. of Units) estimates and forecasts by Application, 2018-2028

8.2.3. Europe Photoacoustic Imaging Systems Market revenue (US$ Million) and volume (No. of Units) estimates and forecasts by End-user, 2018-2028

8.2.4. Europe Photoacoustic Imaging Systems Market revenue (US$ Million) and volume (No. of Units) by country, 2018-2028

8.2.4.1. Germany

8.2.4.2. Poland

8.2.4.3. France

8.2.4.4. Italy

8.2.4.5. Spain

8.2.4.6. UK

8.2.4.7. Rest of Europe

8.3. Asia Pacific

8.3.1. Asia Pacific Photoacoustic Imaging Systems Market revenue (US$ Million) and volume (No. of Units) estimates and forecasts by Product Type, 2018-2028

8.3.2. Asia Pacific Photoacoustic Imaging Systems Market revenue (US$ Million) and volume (No. of Units) estimates and forecasts by Application, 2018-2028

8.3.3. Asia Pacific Photoacoustic Imaging Systems Market revenue (US$ Million) and volume (No. of Units) estimates and forecasts by End-user, 2018-2028

8.3.4. Asia Pacific Photoacoustic Imaging Systems Market revenue (US$ Million) and volume (No. of Units) by country, 2018-2028

8.3.4.1. China

8.3.4.2. India

8.3.4.3. Japan

8.3.4.4. Australia

8.3.4.5. Rest of Asia Pacific

8.4. Latin America

8.4.1. Latin America Photoacoustic Imaging Systems Market revenue (US$ Million) and volume (No. of Units) estimates and forecasts by Product Type, 2018-2028

8.4.2. Latin America Photoacoustic Imaging Systems Market revenue (US$ Million) and volume (No. of Units) estimates and forecasts by Application, 2018-2028

8.4.3. Latin America Photoacoustic Imaging Systems Market revenue (US$ Million) and volume (No. of Units) estimates and forecasts by End-user, 2018-2028

8.4.4. Latin America Photoacoustic Imaging Systems Market revenue (US$ Million) and volume (No. of Units) by country, (US$ Million) 2018-2028

8.4.4.1. Brazil

8.4.4.2. Rest of Latin America

8.5. MEA

8.5.1. MEA Photoacoustic Imaging Systems Market revenue (US$ Million) and volume (No. of Units) estimates and forecasts by Product Type, 2018-2028

8.5.2. MEA Photoacoustic Imaging Systems Market revenue (US$ Million) and volume (No. of Units) estimates and forecasts by Application, 2018-2028

8.5.3. MEA Photoacoustic Imaging Systems Market revenue (US$ Million) and volume (No. of Units) estimates and forecasts by End-user, 2018-2028

8.5.4. MEA revenue Photoacoustic Imaging Systems Market revenue (US$ Million) and volume (No. of Units) by country, (US$ Million) 2018-2028

8.5.4.1. South Africa

8.5.4.2. Rest of MEA

Chapter 9. Competitive Landscape

9.1. Major Mergers and Acquisitions/Strategic Alliances

9.2. Company Profiles

9.2.1. OPOTEK LLC

9.2.1.1. Company Overview

9.2.1.2. Financials

9.2.1.3. Product portfolio

9.2.1.4. Business strategy & Recent developments

9.2.2. EKSPLA

9.2.3. FUJIFILM VisualSonics, Inc.

9.2.4. InnoLas Laser GmbH

9.2.5. iThera Medical GmbH

9.2.6. kibero

9.2.7. PhotoSound Technologies Inc.

9.2.8. Seno Medical Instruments Inc.

9.2.9. Teem Photonics

9.2.10. TomoWave Laboratories, Inc.

9.2.11. Verasonics, Inc.

9.2.12. Vibronix, Inc.

9.2.13. PA Imaging R&D B.V.

9.2.14. ENDRA Life Sciences Inc.

9.2.15. Other Prominent Players

Global Photoacoustic Imaging System Market Segmentation

Global Photoacoustic Imaging System Market Outlook (Value (US$ Mn) & Volume (no. of units), (2019 – 2030) By Product Type

  • Imaging Systems
  • Components (Lasers and Transducers)

Global Photoacoustic Imaging System Market Outlook (Value (US$ Mn) & Volume (no. of units), (2019 – 2030) By Application

  • Pre-clinical
  • Analytics
  • Clinical

Global Photoacoustic Imaging System Market Outlook (Value (US$ Mn) & Volume (no. of units), (2019 – 2030) By End-user

  • Research Institutions
  • Hospitals
  • Specialty Clinics

Global Photoacoustic Imaging System Market Outlook (Value (US$ Mn) & Volume (no. of units), 2019 – 2030) By Region

  • Europe
    • Germany
    • Poland
    • France
    • Italy
    • Spain
    • UK
    • Rest of Europe
  • North America
    • U.S.
    • Canada
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa
    • South Africa
    • Rest of Middle East & Africa

 

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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