Industry Background:
Photoacoustic imaging (optoacoustic imaging) is a biomedical imaging modality based on the photoacoustic effect. The technique has always occupied the largest market share due to its significant role and accuracy in the field of non-destructive diagnosis of cancer. Photoacoustic imaging is an advanced technology that combines optics and acoustics and is important for non-destructive testing and cancer detection. Further, a wide variety of applications of photoacoustic imaging have expanded significantly in fundamental life sciences and healthcare industry. This has lead to the demand for such technique which in turn is propelling the Global Photoacoustic Imaging Market.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Endra LifeSciences Inc. (United States), FUJIFILM VisualSonics Inc.(Canada), Kibero (Germany), Prexion (United States), Canon (Japan), Echofos Medical (Canada), Esaote SpA (Italy), Hitachi Medical Corporation (Japan), illumiSonics Inc. (Canada), PA Imaging (Netherlands), Seno Medical Instruments (United States), TomoWave (United States) and VibroniX, Inc. (United States) |
According to AMA, the market for Photoacoustic Imaging is expected to register a CAGR of 21.41% during the forecast period to 2028. This growth is primarily driven by High Prevalence of Non-communicable Disease, Technical Advantages Over Other Imaging Techniques and Huge Demand of Photoacoustic Imaging (PAI) Technique in Lifesciences and Healthcare Industry.
Globally, a noticeable market trend is evident Technological Advancement in Medical Technologies The Health Care Equipment sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Endra LifeSciences Inc. (United States), FUJIFILM VisualSonics Inc.(Canada), Kibero (Germany), Prexion (United States), Canon (Japan), Echofos Medical (Canada), Esaote SpA (Italy), Hitachi Medical Corporation (Japan), illumiSonics Inc. (Canada), PA Imaging (Netherlands), Seno Medical Instruments (United States), TomoWave (United States) and VibroniX, Inc. (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The market is fragmented with numerous regional and international players. The entry threshold for photoacoustic imaging is very high, and the overall competitive pressure appears to be relatively small. However, the consumer market for optical imaging has not been opened, and only a few institutions of higher learning and research institutions have begun to purchase the equipment and conduct research. A large number of research is being conducted, For instance, in September 2018 Researchers have developed a flexible photoacoustic imaging technique that uses fiber-optic ultrasound to detect acoustic effects of laser pulses.
September 2018, Researchers from Jinan University in China have developed a smart photoacoustic imaging approach by using a combination of laser light and ultrasound. and The technique used in fiber laser-based ultrasound sensors could be applied to wearable devices and medical diagnostics.
Influencing Trend:
Technological Advancement in Medical Technologies
Market Growth Drivers:
High Prevalence of Non-communicable Disease, Technical Advantages Over Other Imaging Techniques and Huge Demand of Photoacoustic Imaging (PAI) Technique in Lifesciences and Healthcare Industry
Challenges:
Cost Factor Associated with the Installation and Maintenance and Acceptation of PAI Technique by Clinicians
Restraints:
Limitations of the Photoacoustic Imaging techniques
Opportunities:
High R & D in Medical Sector and Government Support
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Photoacoustic Imaging Market
- Analysis about New Entrants in Photoacoustic Imaging Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Photoacoustic Imaging Study Sheds Light on
The Photoacoustic Imaging Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Photoacoustic Imaging industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Photoacoustic Imaging industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.