New York, USA, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Market overview:
The global photoacoustic imaging market size is predicted to grow from USD 82.59 million in 2023 to USD 131.79 million by 2032. It is anticipated to grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2032, according to the latest research report by Polaris Market Research.
Market Introduction:
What Is Photoacoustic Imaging?
Photoacoustic imaging, also referred to as optoacoustic imaging, is an emerging biomedical imaging modality that uses laser-generated ultrasound. It’s a non-invasive method that generates ultrasonic waves through pulsed laser irradiation on tissues. The image obtained within the tissue is reconstructed the technique combines optical imaging’s high-contrast accuracy and ultrasound imaging’s high spatial resolution.
PAI provides clear images of the skin and its physiological and functional measurements, such as total hemoglobin, oxygen saturation, and micro distribution of biomarkers. However, ultrasound imaging is limited to providing a high-resolution frame of reference for identifying anatomy. The characteristics of PAI of detecting functional areas have lent it to various applications in clinical medicine, preclinical research, as well as researching cancer, cardiovascular disease, abnormalities of microcirculation, and other conditions.
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Photoacoustic Imaging Market Report Attributes
| Report Attributes | Details |
| Market value in 2023 | USD 82.59 million |
| Market value in 2032 | USD 131.79 million |
| CAGR | 5.4% from 2024 – 2032 |
| Base Year | 2023 |
| Historical Data | 2019 – 2022 |
| Forecast Period | 2024 – 2032 |
Key Highlights of the Report:
- The growing prevalence of chronic diseases such as cancer, cardiovascular diseases, and neurological disorders is driving the market growth for photoacoustic imaging.
- The market is primarily segmented based on product, technology, type, application, end-user, and region.
- The North America region dominated the photoacoustic imaging market share in 2023.
Photoacoustic Imaging Market Key Players:
- Aspectus GmbH
- CYBERDYNE, INC.
- FUJIFILM Corporation
- illumiSonics Inc.
- InnoLas Laser GmbH
- iThera Medical GmbH
- Kibero
- Seno Medical
- TomoWave Laboratories Inc.
- Vibronix Inc
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Growth Drivers and Trends:
Neuroimaging Capability: Photoacoustic imaging has the potential of neuroimaging, which is required in obtaining insights into neurological disorders such as stroke, Alzheimer's disease, and brain tumors. The neuroimaging potential enables high-resolution and sensitive imaging of brain tissues, thus driving photoacoustic imaging market demand.
Investments in Healthcare Infrastructure: Another major driver for the growth of the market is rising fundraising by both governmental bodies and private sectors in improving healthcare facilities, especially in developing nations.
Technological Advancements in Photoacoustic Imaging: In both clinical and preclinical settings, photoacoustic imaging integrated with advanced technologies acts as a multiskilled tool. It can perform 3D real-time multi-spectral imaging, super-resolution imaging, whole-body small-animal imaging, and high-sensitivity functional/molecular imaging.
Novel Photoacoustic Microscopy (PAM) Techniques: Innovations such as high-repetition-rate multi-wavelength lasers, fast scanning techniques, and motionless volumetric PAM with spatially invariant resolution have fueled the potential of photoacoustic imaging, which also augments the photoacoustic imaging market growth.
Which Region Leads the Photoacoustic Imaging?
North America: Due to the increasing demand for photoacoustic imaging systems around different areas of medicine, the North America region held the largest photoacoustic imaging market share in 2023. In addition, the market is experiencing immense growth owing to the increasing acceptance of photoacoustic imaging systems. North America’s research institutions and hospitals. These systems continue to emerge as powerful tools for clinical use supported by ongoing research efforts, enhancing their capabilities and reliability.
Asia Pacific: It is expected that the Asia Pacific region will generate the fastest CAGR over the anticipated period. The growing number of research activities and technological advancements is one of the main drivers behind this expansion. For instance, South Korea's Pohang University of Science and Technology (POSTECH) produced a handheld photoacoustic detector and novel PAI systems. Such innovations emphasize the region’s ability to innovate and advance in medical imaging technology.
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Segmental Overview:
Photoacoustic Imaging Product Outlook:
- Imaging System
- Transducers
- Software and Accessories
Photoacoustic Imaging Technology Outlook:
- Photoacoustic Microscopy
- Photoacoustic Imaging
- Photoacoustic Tomography
Photoacoustic Imaging Type Outlook:
- Preclinical
- Clinical/Clinical Research
Photoacoustic Imaging Application Outlook:
- Oncology
- Hematology
- Veterinary
- Other
Photoacoustic Imaging End-User Outlook:
- Hospitals and Imaging Centers
- Academic & Research Institutes
Photoacoustic Imaging Regional Outlook:
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Vietnam
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
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About Polaris Market Research:
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