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Global Photoacoustic Imaging Market Size Study & Forecast, By Type (Pre-Clinical, Clinical), By Product (Photoacoustic Tomography (PAT), Photoacoustic Microscopy (PAM)), By Application (Oncology, Cardiology, Angiology, Histology, Interventional radiology), and Regional Analysis, 2023-2030

April 2024 | 200 pages | ID: G7B3163DC2BAEN
Bizwit Research & Consulting LLP

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Global Photoacoustic Imaging Market is valued at approximately USD 83.04 million in 2022 and is anticipated to grow with a healthy growth rate of more than 19.27% over the forecast period 2023-2030. Photoacoustic imaging (PAI) is a cutting-edge medical imaging technique that merges laser light and ultrasound technology to create high-resolution images of tissues deep inside the body. It works by using laser pulses to generate heat in tissues, causing them to emit ultrasound waves that are then detected and converted into images. PAI offers exceptional contrast between tissues, penetrates deeply, and provides functional and molecular information without using ionizing radiation. Its applications range from cancer detection and vascular imaging to monitoring tissue oxygenation, making it a valuable tool in biomedical research and clinical diagnostics. The Photoacoustic Imaging (PAI) market is propelled by various factors, including the surge in several research activities & studies for non-ionizing imaging modalities, rising initiatives for the development of the healthcare infrastructure, and growing awareness for photoacoustic imaging.

In addition, the increase in incidences of cancer, particularly breast cancer is acting as a catalyzing factor for the demand for sophisticated imaging technologies like Photoacoustic Imaging (PAI), which may accurately diagnose patients, detect tumors early, and efficiently track treatment responses. According to the World Health Organization, in 2022, it was estimated that around 2.30 million new cases of breast cancer were recorded globally, which is projected to rise to 3.36 million new cases by 2045. PAI is a recommended option for oncology due to its high-resolution imaging, non-ionizing radiation, and capacity for functional and molecular imaging. Additionally, as PAI techniques continue to be researched and developed, they are becoming more diagnostically capable, which is propelling their use in cancer imaging and improving patient outcomes. Moreover, the growing research and development activities, as well as expanding applications across various medical specialties present various lucrative opportunities over the forecast years. PAI stands out as a superior diagnostic imaging system due to its utilization of non-ionizing radiation, enabling real-time examination of tissues with exceptional resolution, contrast, and deep penetration capabilities. This allows for comprehensive morphological, functional, and molecular imaging of living subjects, further fueling market expansion. Thus, these aforementioned factors are propelling the growth of the Photoacoustic Imaging Market during the estimated period. However, the high cost of photoacoustic imaging systems and limited bandwidth to capture tomographic data are challenging the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Photoacoustic Imaging Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the presence of numerous market competitors and the rising incidence of cancer cases. According to the National Library of Medicine, in 2023, it is estimated that there will be 1,958,310 new cases of cancer and 609,820 cancer-related deaths in the United States. Additionally, increased funding has spurred research activities in the region. The rising per capita healthcare expenditure and benefits from substantial funds and grants for research from government bodies like the National Institutes of Health (NIH) are further prompting regional market growth. Whereas Asia Pacific is expected to grow at the highest CAGR over the forecast years. This growth is attributed to the growing demand for advanced imaging devices and the increasing frequency of research initiatives. For instance, in September 2021, researchers from South Korea's Pohang University of Science and Technology (POSTECH) introduced a handheld photoacoustic detector capable of assessing lymph node status without subjecting patients to radiation exposure.

Major market players included in this report are:

Advantest Corp.

TomoWave Laboratories, Inc.

Kibero GmbH

FUJIFILM VisualSonics Inc.

Seno Medical Instruments

iThera Medical GmbH

Aspectus GmbH

Vibronix Inc.

Opotek LLC

Prexion Corporation

Recent Developments in the Market:
  • In August 2023, TomoWave introduced LOIS-3D, a cutting-edge three-dimensional quantitative optoacoustic tomography (qOAT) system. This innovative technology combines the strengths of light and sound to produce highly detailed and contrast-rich three-dimensional visualizations of small animal models mimicking human diseases. This strategic initiative assists in driving technological innovation, increasing demand, and contributing to the growth and development of the field.
Global Photoacoustic Imaging Market Report Scope:
  • Historical Data – 2020 - 2021
  • Base Year for Estimation – 2022
  • Forecast period - 2023-2030
  • Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
  • Segments Covered - Type, Product, Application, Region
  • Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
  • Customization Scope - Free report customization (equivalent to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters to detailed information about the crucial aspects such as driving factors & challenges that will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:

Pre-Clinical

Clinical

By Product:

Photoacoustic Tomography (PAT)

Photoacoustic Microscopy (PAM)

By Application:

Oncology

Cardiology

Angiology

Histology

Interventional radiology

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Middle East & Africa

Saudi Arabia

South Africa

Rest of Middle East & Africa
CHAPTER 1. EXECUTIVE SUMMARY

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Million)
  1.2.1. Photoacoustic Imaging Market, by Region, 2020-2030 (USD Million)
  1.2.2. Photoacoustic Imaging Market, by Type, 2020-2030 (USD Million)
  1.2.3. Photoacoustic Imaging Market, by Product, 2020-2030 (USD Million)
  1.2.4. Photoacoustic Imaging Market, by Application, 2020-2030 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

CHAPTER 2. GLOBAL PHOTOACOUSTIC IMAGING MARKET DEFINITION AND SCOPE

2.1. Objective of the Study
2.2. Market Definition & Scope
  2.2.1. Industry Evolution
  2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

CHAPTER 3. GLOBAL PHOTOACOUSTIC IMAGING MARKET DYNAMICS

3.1. Photoacoustic Imaging Market Impact Analysis (2020-2030)
  3.1.1. Market Drivers
    3.1.1.1. Increasing Incidences of Cancer
    3.1.1.2. Surge in Number of Research Activities & Studies for Non-Ionizing Imaging Modalities
  3.1.2. Market Challenges
    3.1.2.1. High Cost of Photoacoustic Imaging System
    3.1.2.2. Limited Bandwidth to Capture Tomographic Data
  3.1.3. Market Opportunities
    3.1.3.1. Growing Research and Development Activities
    3.1.3.2. Rising Expanding Applications across Various Medical Specialties

CHAPTER 4. GLOBAL PHOTOACOUSTIC IMAGING MARKET INDUSTRY ANALYSIS

4.1. Porter’s 5 Force Model
  4.1.1. Bargaining Power of Suppliers
  4.1.2. Bargaining Power of Buyers
  4.1.3. Threat of New Entrants
  4.1.4. Threat of Substitutes
  4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
  4.3.1. Political
  4.3.2. Economical
  4.3.3. Social
  4.3.4. Technological
  4.3.5. Environmental
  4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion

CHAPTER 5. GLOBAL PHOTOACOUSTIC IMAGING MARKET, BY TYPE

5.1. Market Snapshot
5.2. Global Photoacoustic Imaging Market by Type, Performance - Potential Analysis
5.3. Global Photoacoustic Imaging Market Estimates & Forecasts by Type 2020-2030 (USD Million)
5.4. Photoacoustic Imaging Market, Sub Segment Analysis
  5.4.1. Pre-Clinical
  5.4.2. Clinical

CHAPTER 6. GLOBAL PHOTOACOUSTIC IMAGING MARKET, BY PRODUCT

6.1. Market Snapshot
6.2. Global Photoacoustic Imaging Market by Product, Performance - Potential Analysis
6.3. Global Photoacoustic Imaging Market Estimates & Forecasts by Product 2020-2030 (USD Million)
6.4. Photoacoustic Imaging Market, Sub Segment Analysis
  6.4.1. Photoacoustic Tomography (PAT)
  6.4.2. Photoacoustic Microscopy (PAM)

CHAPTER 7. GLOBAL PHOTOACOUSTIC IMAGING MARKET, BY APPLICATION

7.1. Market Snapshot
7.2. Global Photoacoustic Imaging Market by Application, Performance - Potential Analysis
7.3. Global Photoacoustic Imaging Market Estimates & Forecasts by Application 2020-2030 (USD Million)
7.4. Photoacoustic Imaging Market, Sub Segment Analysis
  7.4.1. Oncology
  7.4.2. Cardiology
  7.4.3. Angiology
  7.4.4. Histology
  7.4.5. Interventional radiology

CHAPTER 8. GLOBAL PHOTOACOUSTIC IMAGING MARKET, REGIONAL ANALYSIS

8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Photoacoustic Imaging Market, Regional Market Snapshot
8.4. North America Photoacoustic Imaging Market
  8.4.1. U.S. Photoacoustic Imaging Market
    8.4.1.1. Type breakdown estimates & forecasts, 2020-2030
    8.4.1.2. Product breakdown estimates & forecasts, 2020-2030
    8.4.1.3. Application breakdown estimates & forecasts, 2020-2030
  8.4.2. Canada Photoacoustic Imaging Market
8.5. Europe Photoacoustic Imaging Market Snapshot
  8.5.1. U.K. Photoacoustic Imaging Market
  8.5.2. Germany Photoacoustic Imaging Market
  8.5.3. France Photoacoustic Imaging Market
  8.5.4. Spain Photoacoustic Imaging Market
  8.5.5. Italy Photoacoustic Imaging Market
  8.5.6. Rest of Europe Photoacoustic Imaging Market
8.6. Asia-Pacific Photoacoustic Imaging Market Snapshot
  8.6.1. China Photoacoustic Imaging Market
  8.6.2. India Photoacoustic Imaging Market
  8.6.3. Japan Photoacoustic Imaging Market
  8.6.4. Australia Photoacoustic Imaging Market
  8.6.5. South Korea Photoacoustic Imaging Market
  8.6.6. Rest of Asia Pacific Photoacoustic Imaging Market
8.7. Latin America Photoacoustic Imaging Market Snapshot
  8.7.1. Brazil Photoacoustic Imaging Market
  8.7.2. Mexico Photoacoustic Imaging Market
8.8. Middle East & Africa Photoacoustic Imaging Market
  8.8.1. Saudi Arabia Photoacoustic Imaging Market
  8.8.2. South Africa Photoacoustic Imaging Market
  8.8.3. Rest of Middle East & Africa Photoacoustic Imaging Market

CHAPTER 9. COMPETITIVE INTELLIGENCE

9.1. Key Company SWOT Analysis
  9.1.1. Company
  9.1.2. Company
  9.1.3. Company
9.2. Top Market Strategies
9.3. Company Profiles
  9.3.1. Advantest Corp.
    9.3.1.1. Key Information
    9.3.1.2. Overview
    9.3.1.3. Financial (Subject to Data Availability)
    9.3.1.4. Product Summary
    9.3.1.5. Recent Developments
  9.3.2. TomoWave Laboratories, Inc.
  9.3.3. Kibero GmbH
  9.3.4. FUJIFILM VisualSonics Inc.
  9.3.5. Seno Medical Instruments
  9.3.6. iThera Medical GmbH
  9.3.7. Aspectus GmbH
  9.3.8. Vibronix Inc.
  9.3.9. Opotek LLC
  9.3.10. Prexion Corporation

CHAPTER 10. RESEARCH PROCESS

10.1. Research Process
  10.1.1. Data Mining
  10.1.2. Analysis
  10.1.3. Market Estimation
  10.1.4. Validation
  10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

LIST OF TABLES

TABLE 1. Global Photoacoustic Imaging Market, report scope
TABLE 2. Global Photoacoustic Imaging Market estimates & forecasts by Region 2020-2030 (USD Million)
TABLE 3. Global Photoacoustic Imaging Market estimates & forecasts by Type 2020-2030 (USD Million)
TABLE 4. Global Photoacoustic Imaging Market estimates & forecasts by Product 2020-2030 (USD Million)
TABLE 5. Global Photoacoustic Imaging Market estimates & forecasts by Application 2020-2030 (USD Million)
TABLE 6. Global Photoacoustic Imaging Market by segment, estimates & forecasts, 2020-2030 (USD Million)
TABLE 7. Global Photoacoustic Imaging Market by region, estimates & forecasts, 2020-2030 (USD Million)
TABLE 8. Global Photoacoustic Imaging Market by segment, estimates & forecasts, 2020-2030 (USD Million)
TABLE 9. Global Photoacoustic Imaging Market by region, estimates & forecasts, 2020-2030 (USD Million)
TABLE 10. Global Photoacoustic Imaging Market by segment, estimates & forecasts, 2020-2030 (USD Million)
TABLE 11. Global Photoacoustic Imaging Market by region, estimates & forecasts, 2020-2030 (USD Million)
TABLE 12. Global Photoacoustic Imaging Market by segment, estimates & forecasts, 2020-2030 (USD Million)
TABLE 13. Global Photoacoustic Imaging Market by region, estimates & forecasts, 2020-2030 (USD Million)
TABLE 14. Global Photoacoustic Imaging Market by segment, estimates & forecasts, 2020-2030 (USD Million)
TABLE 15. Global Photoacoustic Imaging Market by region, estimates & forecasts, 2020-2030 (USD Million)
TABLE 16. U.S. Photoacoustic Imaging Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 17. U.S. Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 18. U.S. Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 19. Canada Photoacoustic Imaging Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 20. Canada Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 21. Canada Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 22. UK Photoacoustic Imaging Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 23. UK Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 24. UK Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 25. Germany Photoacoustic Imaging Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 26. Germany Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 27. Germany Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 28. France Photoacoustic Imaging Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 29. France Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 30. France Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 31. Italy Photoacoustic Imaging Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 32. Italy Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 33. Italy Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 34. Spain Photoacoustic Imaging Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 35. Spain Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 36. Spain Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 37. RoE Photoacoustic Imaging Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 38. RoE Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 39. RoE Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 40. China Photoacoustic Imaging Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 41. China Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 42. China Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 43. India Photoacoustic Imaging Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 44. India Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 45. India Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 46. Japan Photoacoustic Imaging Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 47. Japan Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 48. Japan Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 49. South Korea Photoacoustic Imaging Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 50. South Korea Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 51. South Korea Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 52. Australia Photoacoustic Imaging Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 53. Australia Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 54. Australia Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 55. RoAPAC Photoacoustic Imaging Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 56. RoAPAC Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 57. RoAPAC Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 58. Brazil Photoacoustic Imaging Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 59. Brazil Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 60. Brazil Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 61. Mexico Photoacoustic Imaging Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 62. Mexico Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 63. Mexico Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 64. RoLA Photoacoustic Imaging Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 65. RoLA Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 66. RoLA Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 67. Saudi Arabia Photoacoustic Imaging Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 68. South Africa Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 69. RoMEA Photoacoustic Imaging Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 70. List of secondary sources, used in the study of Global Photoacoustic Imaging Market
TABLE 71. List of primary sources, used in the study of Global Photoacoustic Imaging Market
TABLE 72. Years considered for the study
TABLE 73. Exchange rates considered
List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

FIG 1. Global Photoacoustic Imaging Market, research methodology
FIG 2. Global Photoacoustic Imaging Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Photoacoustic Imaging Market, key trends 2022
FIG 5. Global Photoacoustic Imaging Market, growth prospects 2023-2030
FIG 6. Global Photoacoustic Imaging Market, porters 5 force model
FIG 7. Global Photoacoustic Imaging Market, pest analysis
FIG 8. Global Photoacoustic Imaging Market, value chain analysis
FIG 9. Global Photoacoustic Imaging Market by segment, 2020 & 2030 (USD Million)
FIG 10. Global Photoacoustic Imaging Market by segment, 2020 & 2030 (USD Million)
FIG 11. Global Photoacoustic Imaging Market by segment, 2020 & 2030 (USD Million)
FIG 12. Global Photoacoustic Imaging Market by segment, 2020 & 2030 (USD Million)
FIG 13. Global Photoacoustic Imaging Market by segment, 2020 & 2030 (USD Million)
FIG 14. Global Photoacoustic Imaging Market, regional snapshot 2020 & 2030
FIG 15. North America Photoacoustic Imaging Market 2020 & 2030 (USD Million)
FIG 16. Europe Photoacoustic Imaging Market 2020 & 2030 (USD Million)
FIG 17. Asia Pacific Photoacoustic Imaging Market 2020 & 2030 (USD Million)
FIG 18. Latin America Photoacoustic Imaging Market 2020 & 2030 (USD Million)
FIG 19. Middle East & Africa Photoacoustic Imaging Market 2020 & 2030 (USD Million)
List of tables and figures and dummy in nature, final lists may vary in the final deliverable


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