The global Photoacoustic Imaging Market is anticipated to grow at a significant rate owing to raid advancements and technological developments in the sector. The report offers strategic recommendations to the businesses and investors to capitalize on the lucrative growth opportunities of Photoacoustic Imaging Market. It also covers mergers and acquisitions, joint ventures, product launches, brand promotions, collaborations, agreements, and partnerships, among others. It also offers insights into the manufacturing processes, revenue estimations, R&D advancements, and industrial penetration of Photoacoustic Imaging Market.
The photoacoustic imaging market size reached USD 57.8 million in 2021 and is expected to register a revenue CAGR of 17.5% during the forecast period, according to latest analysis by Emergen Research.
Increasing prevalence of chronic diseases such as cancer and vascular diseases and steady increase in number of elderly individuals requiring diagnosis and treatment is causes immense burden on healthcare systems worldwide. According to National Cancer Institute, cancer is the leading cause of death worldwide, and in 2018, there were approximately 18.1 million new cases with 9.5 million cancer-related deaths globally. The figure is estimated to rise significantly by 2040, with 29.5 million new cases and 16.4 million deaths. The need for early detection and treatment of cancer is of utmost importance and an urgent necessity. Photoacoustic imaging is a non-invasive biomedical imaging modality comprising ultrasonic waves generated by a laser and reconstruction of image for light energy absorption and distribution in the tissue.
The study offers comprehensive coverage of the qualitative and quantitative analysis of the Photoacoustic Imaging market along with crucial statistical data about the Photoacoustic Imaging market. The research study provides historical data and offers accurate forecast estimation until 2030. The report also profiles established and emerging players of the market, covering the business overview, product portfolio, strategic alliances, and business expansion strategies.
Some major companies in the market report include TomoWave Laboratories Inc., PA Imaging, Micro Photo Acoustics Inc., ILLUMISONICS Inc., Canon Inc., InnoLas Laser GmbH., Echofos Medical, Kibero GmbH., PreXion Corporation, Endra Life Science Inc., VibroniX Inc., Aspectus GmbH., iThera Medical GmbH., FUJIFILM VisualSonics Inc., and Seno Medical Instruments, Inc.
Highlights from the Report
Oncology segment is expected to register a significantly rapid revenue CAGR during the forecast period owing to rising prevalence of cancer worldwide and growing demand for early detection and treatment. Photoacoustic imaging is the most advanced imaging technology for various forms of cancer such as breast and lung cancer, and is a non-invasive technique to detect cancer cells.
The hospitals & clinics segment is expected to register a significant rapid revenue growth rate during the forecast period owing to technological advancements in medical equipment, development of more modern healthcare infrastructure, and rising prevalence of chronic diseases such as cancer and vascular problems. The patient-centric treatment and ease to monitor during clinical procedures will further support preference for hospitals & clinics.
North America is expected to account for largest revenue share during the forecast period owing to high healthcare expenditure and technologically advanced research & development in healthcare science. In addition, rising prevalence of chronic diseases, such as cancer is further expected to drive demand for non-invasive advanced photoacoustic imaging and support revenue growth of the market in the region over the forecast period.
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The report is an investigative study of the technological developments and product advancements, along with a regional analysis for each product and application offered in the market. The fundamental objective of the report is to give an insight into the workings of the Photoacoustic Imaging industry. It provides an accurate and strategic outlook of the market with a thorough assessment of the segments and sub-segments of the market. It provides a panoramic view of the industry to offer a deeper understanding of the global industry.
Emergen Research has segmented the global photoacoustic imaging market based on product, application, type, end-use, and region:
Product Outlook (Revenue, USD Million; 2019–2030)
Imaging Systems
Lasers
Transducers
Contrast Agents
Software
Application Outlook (Revenue, USD Million; 2019–2030)
Oncology
Cardiology
Neurology
Hematology
Others
Type Outlook (Revenue, USD Million; 2019–2030)
Pre-Clinical
Clinical
End-Use Outlook (Revenue, USD Million; 2019–2030)
Hospital and Clinics
Research Institution
Others
The complete regional analysis covers:
North America (U.S., Canada, Mexico
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report offers a comprehensive understanding of the impact of the COVID-19 pandemic on the overall market growth and expansion. COVID-19 has affected the global economy by interfering with production and demand, causing market disruption, and inducing financial instability.
Extensive coverage of the analysis of the Photoacoustic Imaging market
Key insights into the regional spread of the industry in key geographies
Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market
Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the Photoacoustic Imaging market
Complete data about the key manufacturers and vendors in the Photoacoustic Imaging market
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