According to a current report by Emergen Research, the Global Photoacoustic Imaging Market will be worth USD 175.8 million by 2027 growing at a CAGR OF 15.2%. Photoacoustic imaging, also known as optoacoustic imaging, can be described as a high-potential hybrid imaging technique in the fields of clinical biomedical application and multi-scale preclinical issues. It is one of the decade’s rapidly expanding biomedical imaging modalities, offering sustainable resolution and depth of imaging, along with optical spectroscopic contrast, making it an ideal solution for tissue’s functional, structural and molecular imaging in real time.
Biomedical photoacoustic imaging is currently at a growing stage of clinical translation. Providing portable and inexpensive delivery and detection solutions to extend the smoother transition to the clinic is of utter importance to research institutions as well as academic establishments.
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Photoacoustic imaging is also currently being applied to the biomedical and medical markets. In 2019, due to the analytics and pre-clinical divisions, the overall PAI biomedical and medical market size was estimated at nearly USD 36.5 million. Since 2018, a steep growth curve has been observed, mainly due to the launch of clinical products approved in 2017, such as the Imagio device from Seno Medical Instruments. Key areas of application that are projected to benefit from this clinical product are cardiovascular diagnostics, cancer research, brain imaging, monitoring of treatment, dermatology and drug production.
Top Companies Operating in Photoacoustic Imaging Market are:
illumiSonics Inc., Seno Medical Instruments Inc InnoLas Laser GmbH, FUJIFILM VisualSonics Inc., kibero, iThera Medical GmbH, PhotoSound Technologies Inc., PA Imaging, and Teem Photonics, among others.
Key Highlights From The Report.
- Fujifilm VisualSonics Inc., a subsidiary of FUJIFILM SonoSite, Inc., unveiled the first ultra-high to low-frequency ultrasonic imaging system of its kind fitted with a 71-1 MHz frequency range in June 2020. This product is primarily aimed at the scientific research community, with an open and configurable architecture.
- The high prevalence of chronic conditions, such as cardiovascular diseases and cancer, increases the use of detection methods for non-invasive and real-time diagnosis. The technology is emerging as a vital diagnostic method for fast diagnosis and treatment of chronic disorders compared to conventional ultrasound. This is primarily due to its usefulness in the functional characterization of living tissues, and the growing demand for photoacoustic is favourably for the initial detection of cancer as well as for anomalies in cardiovascular diseases and microcirculation in both clinical and preclinical research.
- As a result of recent technological developments, ground-breaking photoacoustic imaging solutions are also being produced and offered by existing and emerging producers in the industry. In addition, research is under way to manufacture novel clinical photoacoustic imaging solutions because of the possible use in humans.
- North American region’s photoacoustic market held the largest market share in 2019 and is expected to continue its dominance over the coming years. Over the years, Europe is expected to take the market leading position owing to greater precision in the installation of revolutionary and technical heavy gadgets.. A large market share is also held by Asia Pacific region and is expected to rise at a CAGR of 15.9% due to the growing number of people with cardiovascular and neurological ailments.
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For the purpose of this report, Emergen Research has segmented the global photoacoustic imaging market on the product, end-user, application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Imaging Systems
- Contrast Agents
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Research Institutions
- Hospitals and Clinics
Application Outlook (Revenue, USD Billion; 2017-2027)
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Regional Outlook (Revenue: USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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