Photoacoustic Imaging Market

Industry Overview

The Global Photoacoustic Imaging Market was valued at USD 0.042 billion in 2022 and is predicted to reach USD 0.28 billion by 2030, growing at a CAGR of 18.6% during the forecast period. The factors responsible for the growth of photoacoustic imaging across the globe are increasing number of cancer cases, growing adoption of advanced treatments, growing healthcare expenditure, and growing aging population. The photoacoustic imaging market is a growing field in medical imaging that combines ultrasound and laser-induced photoacoustic signals to create high-resolution images of tissue structures and functions.

Market Segmentation

Insight by Product

Based on product, the global photoacoustic imaging market is categorized into imaging systems, and software and other accessories. During the forecast period, software and other accessories category is expected to grow at the faster rate. This is owing to the advancement in technology that would allow for the launch of new and improved components for photoacoustic imaging systems.

Insight by Application

On the basis of application, the global photoacoustic imaging market is categorized into pre-clinical, and clinical. During the forecast period, the pre-clinical category is expected to be larger market. The major factor driving the growth of the pre-clinical market are advancement in technology in the area of photoacoustic imaging, growing demand for non-invasive imaging techniques for small animals that are used in pre-clinical studies, and increasing number of initiatives by public and private organizations to enhance pre-clinical research.

Insight by Indication

On the basis of indication, the global photoacoustic imaging market is categorized into oncology, cardiology, and others. During the forecast period, the oncology category is expected to be the faster growing category. The major factor driving the growth of this category is growing usage of photoacoustic imaging systems for cancer diagnosis, mainly breast cancer.

Dental 3D Printing Market Report Coverage

Industry Dynamics

Growth Drivers

The primary factors driving the growth of the global photoacoustic imaging market are:

• growing aging population
• Increasing Incidence of Chronic Diseases
• Growing healthcare expenditure

Growing life expectancy results in the falling death rate is the major factor driving the growth in the geriatric population. According to the World Population Ageing 2019, the world’s population aged 65 years and above is expected to grow from 703 million in 2019 to 1.5 billion by 2050. Older people need extensive care, as they are more susceptible to illnesses owing to their low immunity level and longer recovery time. Thus, the older population hugely contributes to the growth of the photoacoustic imaging market.

Challenges

Despite the growth opportunities, the photoacoustic imaging market faces certain challenges. These include the high cost of imaging systems, lack of reimbursement policies for photoacoustic procedures, and limited awareness among healthcare professionals about the technology.

Opportunities

Several factors contribute to the growth of the photoacoustic imaging market. These include increasing research and development activities in the field, rising prevalence of chronic diseases such as cancer and cardiovascular disorders, technological advancements in imaging modalities, and growing demand for non-invasive diagnostic procedures. Photoacoustic imaging has a wide range of applications across various medical fields. It is used in oncology, dermatology, neurology, cardiology, and other areas of clinical research. The ability of photoacoustic imaging to provide both anatomical and functional information makes it valuable in diagnosing and monitoring diseases.

Geographic Overview

Geographically, North America is the largest revenue contributor in the photoacoustic imaging market. The growing aging population, increasing healthcare expenditure and growing incidence of chronic diseases in the region are the key factors responsible for its growth.

Competitive Insight

Key players operating in the global photoacoustic imaging market include Verasonics Inc., Vibronix Inc., FUJIFILM VisualSonics Inc., illumiSonics Inc., EKSPLA, InnoLas Laser GmbH, PhotoSound Technologies Inc., Teem Photonics, TomoWave Laboratories Inc., and Seno Medical Instruments Inc.

Forecast Parameters

• Identifying variables and establishing market impact.
• Establishing market trends regionally.
• Analyzing opportunities and market penetration rates by understanding product commercialization, regional expansion.
• Analyzing demand and supply trends and changes in industry dynamics to establish future growth.
• Analyzing sustainability strategies adhered by market participants in an attempt to determine future course of the market.
• Analyzing historical market trends and super-imposing them on the current and future variables to determine year-on-year trend.
• Understanding adoption, development, distribution and regulatory framework.

Data Validation

• Estimated and forecasted data was validated through industry experts.
• Apart from industry experts, data triangulation methods were used for validation.
• Bottom up and top down approach has been used for estimation and forecast of market data, whereas top down approach was used for validation.
• Demand as well as supply side surveys were conducted in order to understand the industry dynamics and data validation.

Research Phases

Primary Research

VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from the industry experts. The key profiles approached within the industry includes, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads and Others. Also, end user surveys comprising of consumers are also conducted to understand consumer behavior.

The Photoacoustic Imaging Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2023–2030.

Segments Covered in the Report

• By Product 
  • Imaging Systems
  • Software and Other Accessories
• By Application
  • Pre-Clinical
  • Clinical
• By Indication
  • Oncology
  • Cardiology
  • Others

Region Covered in the Report

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia-Pacific (APAC)
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• Rest of the World (RoW)
  • Brazil
  • Saudi Arabia
  • South Africa
  • U.A.E.
  • Other Countries

Source: VynZ Research

Source: VynZ Research

1.    Research Overview 

        1.1.    The Report Offers
        1.2.    Market Coverage
                1.2.1.    By Product
                1.2.2.    By Application
                1.2.3.    By Indication
        1.3.    Research Phases
        1.4.    Limitations
        1.5.    Research Methodology
                1.5.1.    Data Sources
                        1.5.1.1.    Primary Research
                        1.5.1.2.    Secondary Research
                1.5.2.    Methodology
                        1.5.2.1.    Data Exploration
                        1.5.2.2.    Forecast Parameters
                        1.5.2.3.    Data Validation
                        1.5.2.4.    Assumptions
                1.5.3.    Study Period & Data Reporting Unit

2.    Executive Summary

3.    Industry Overview

        3.1.    Industry Dynamics
                3.1.1.    Market Growth Drivers
                3.1.2.    Market Restraints
                3.1.3.    Key Market Trends
                3.1.4.    Major Opportunities
        3.2.    Industry Ecosystem
                3.2.1.    Porter’s Five Forces Analysis
                3.2.2.    Recent Development Analysis
                3.2.3.    Value Chain Analysis
        3.3.    Competitive Insight
                3.3.1.    Competitive Position of Industry Players
                3.3.2.    Market Attractive Analysis

4.    Global Market Estimate and Forecast

        4.1.    Global Market Overview
        4.2.    Global Market Estimate and Forecast to 2030

5.    Market Segmentation Estimate and Forecast

        5.1.    By Product    
                5.1.1.    Imaging Systems
                        5.1.1.1.    Market Definition
                        5.1.1.2.    Market Estimation and Forecast to 2030
                5.1.2.    Software and Other Accessories
                        5.1.2.1.    Market Definition
                        5.1.2.2.    Market Estimation and Forecast to 2030
        5.2.    By Application
                5.2.1.    Pre-Clinical
                        5.2.1.1.    Market Definition
                        5.2.1.2.    Market Estimation and Forecast to 2030
                5.2.2.    Clinical
                        5.2.2.1.    Market Definition
                        5.2.2.2.    Market Estimation and Forecast to 2030
        5.3.    By Indication
                5.3.1.    Oncology
                        5.3.1.1.    Market Definition
                        5.3.1.2.    Market Estimation and Forecast to 2030
                5.3.2.    Cardiology
                        5.3.2.1.    Market Definition
                        5.3.2.2.    Market Estimation and Forecast to 2030
                5.3.3.    Others
                        5.3.3.1.    Market Definition
                        5.3.3.2.    Market Estimation and Forecast to 2030

6.    North America Market Estimate and Forecast

        6.1.    By Product
        6.2.    By Application
        6.3.    By Indication
        6.4.    By Country
                6.4.1.    U.S. Market Estimate and Forecast
                6.4.2.    Canada Market Estimate and Forecast
                6.4.3.    Mexico Market Estimate and Forecast

7.    Europe Market Estimate and Forecast

        7.1.    By Product
        7.2.    By Application
        7.3.    By Indication
        7.4.    By Country
                7.4.1.    Germany Market Estimate and Forecast
                7.4.2.    France Market Estimate and Forecast
                7.4.3.    U.K. Market Estimate and Forecast
                7.4.4.    Italy Market Estimate and Forecast
                7.4.5.    Spain Market Estimate and Forecast
                7.4.6.    Russia Market Estimate and Forecast
                7.4.7.    Rest of Europe Market Estimate and Forecast

8.    Asia-Pacific Market Estimate and Forecast

        8.1.    By Product
        8.2.    By Application
        8.3.    By Indication
        8.4.    By Country 
                8.4.1.    China Market Estimate and Forecast
                8.4.2.    Japan Market Estimate and Forecast
                8.4.3.    India Market Estimate and Forecast
                8.4.4.    South Korea Market Estimate and Forecast
                8.4.5.    Rest of Asia-Pacific Market Estimate and Forecast

9.    Rest of the World (RoW) Market Estimate and Forecast

        9.1.    By Product
        9.2.    By Application
        9.3.    By Indication
        9.4.    By Country
                9.4.1.    Brazil Market Estimate and Forecast
                9.4.2.    Saudi Arabia Market Estimate and Forecast
                9.4.3.    South Africa Market Estimate and Forecast
                9.4.4.    U.A.E. Market Estimate and Forecast
                9.4.5.    Other Countries Market Estimate and Forecast

10.    Company Profiles

        10.1.    Verasonics Inc.
                1.1.1.    Snapshot
                1.1.2.    Overview
                1.1.3.    Offerings
                1.1.4.    Financial Insight
                1.1.5.    Recent Developments
        10.2.    Vibronix Inc.
                10.2.1.    Snapshot
                10.2.2.    Overview
                10.2.3.    Offerings
                10.2.4.    Financial Insight
                10.2.5.    Recent Developments
        10.3.    FUJIFILM VisualSonics Inc.
                10.3.1.    Snapshot
                10.3.2.    Overview
                10.3.3.    Offerings
                10.3.4.    Financial Insight
                10.3.5.    Recent Developments
        10.4.    illumiSonics Inc.
                10.4.1.    Snapshot
                10.4.2.    Overview
                10.4.3.    Offerings
                10.4.4.    Financial Insight
                10.4.5.    Recent Developments
        10.5.    EKSPLA
                10.5.1.    Snapshot
                10.5.2.    Overview
                10.5.3.    Offerings
                10.5.4.    Financial Insight
                10.5.5.    Recent Developments
        10.6.    InnoLas Laser GmbH
                10.6.1.    Snapshot
                10.6.2.    Overview
                10.6.3.    Offerings
                10.6.4.    Financial Insight
                10.6.5.    Recent Developments
        10.7.    PhotoSound Technologies Inc.
                10.7.1.    Snapshot
                10.7.2.    Overview
                10.7.3.    Offerings
                10.7.4.    Financial Insight
                10.7.5.    Recent Developments
        10.8.    Teem Photonics
                10.8.1.    Snapshot
                10.8.2.    Overview
                10.8.3.    Offerings
                10.8.4.    Financial Insight
                10.8.5.    Recent Developments
        10.9.    TomoWave Laboratories Inc.
                10.9.1.    Snapshot
                10.9.2.    Overview
                10.9.3.    Offerings
                10.9.4.    Financial Insight
                10.9.5.    Recent Developments
        10.10.    Seno Medical Instruments Inc.
                10.10.1.    Snapshot
                10.10.2.    Overview
                10.10.3.    Offerings
                10.10.4.    Financial Insight
                10.10.5.    Recent Developments

11.    Appendix

        11.1.    Exchange Rates
        11.2.    Abbreviations

Note: Financial insight and recent developments of different companies are subject to availability of information in secondary domain.

List of Tables

Table 1    Sources
Table 2    Study Periods
Table 3    Data Reporting Unit
Table 4    Global Photoacoustic Imaging Market Size, by Product, 2018–2022(USD Billion)
Table 5    Global Photoacoustic Imaging Market Size, by Product, 2023–2030 (USD Billion)
Table 6    Global Photoacoustic Imaging Market Size, by Application, 2018–2022(USD Billion)
Table 7    Global Photoacoustic Imaging Market Size, by Application, 2023–2030 (USD Billion)
Table 8    Global Photoacoustic Imaging Market Size, by Indication, 2018–2022(USD Billion)
Table 9    Global Photoacoustic Imaging Market Size, by Indication, 2023–2030 (USD Billion)
Table 10   Global Photoacoustic Imaging Market Size, by Region, 2018–2022(USD Billion)
Table 11   Global Photoacoustic Imaging Market Size, by Region, 2023–2030 (USD Billion)
Table 12   North America Photoacoustic Imaging Market Size, by Product, 2018–2022(USD Billion)
Table 13   North America Photoacoustic Imaging Market Size, by Product, 2023–2030 (USD Billion)
Table 14   North America Photoacoustic Imaging Market Size, by Application, 2018–2022(USD Billion)
Table 15   North America Photoacoustic Imaging Market Size, by Application, 2023–2030 (USD Billion)
Table 16   North America Photoacoustic Imaging Market Size, by Indication, 2018–2022(USD Billion)
Table 17   North America Photoacoustic Imaging Market Size, by Indication, 2023–2030 (USD Billion)
Table 18   North America Photoacoustic Imaging Market Size, by Country, 2018–2022(USD Billion)
Table 19   North America Photoacoustic Imaging Market Size, by Country, 2023–2030 (USD Billion)
Table 20   Europe Photoacoustic Imaging Market Size, by Product, 2018–2022(USD Billion)
Table 21   Europe Photoacoustic Imaging Market Size, by Product, 2023–2030 (USD Billion)
Table 22   Europe Photoacoustic Imaging Market Size, by Application, 2018–2022(USD Billion)
Table 23   Europe Photoacoustic Imaging Market Size, by Application, 2023–2030 (USD Billion)
Table 24   Europe Photoacoustic Imaging Market Size, by Indication, 2018–2022(USD Billion)
Table 25   Europe Photoacoustic Imaging Market Size, by Indication, 2023–2030 (USD Billion)
Table 26   Europe Photoacoustic Imaging Market Size, by Country, 2018–2022(USD Billion)
Table 27   Europe Photoacoustic Imaging Market Size, by Country, 2023–2030 (USD Billion)
Table 28   Asia-Pacific Photoacoustic Imaging Market Size, by Product, 2018–2022(USD Billion)
Table 29   Asia-Pacific Photoacoustic Imaging Market Size, by Product, 2023–2030 (USD Billion)
Table 30   Asia-Pacific Photoacoustic Imaging Market Size, by Application, 2018–2022(USD Billion)
Table 31   Asia-Pacific Photoacoustic Imaging Market Size, by Application, 2023–2030 (USD Billion)
Table 32   Asia-Pacific Photoacoustic Imaging Market Size, by Indication, 2018–2022(USD Billion)
Table 33   Asia-Pacific Photoacoustic Imaging Market Size, by Indication, 2023–2030 (USD Billion)
Table 34   Asia-Pacific Photoacoustic Imaging Market Size, by Country, 2018–2022(USD Billion)
Table 35   Asia-Pacific Photoacoustic Imaging Market Size, by Country, 2023–2030 (USD Billion)
Table 36   RoW Photoacoustic Imaging Market Size, by Product, 2018–2022(USD Billion)
Table 37   RoW Photoacoustic Imaging Market Size, by Product, 2023–2030 (USD Billion)
Table 38   RoW Photoacoustic Imaging Market Size, by Application, 2018–2022(USD Billion)
Table 39   RoW Photoacoustic Imaging Market Size, by Application, 2023–2030 (USD Billion)
Table 40   RoW Photoacoustic Imaging Market Size, by Indication, 2018–2022(USD Billion)
Table 41   RoW Photoacoustic Imaging Market Size, by Indication, 2023–2030 (USD Billion)
Table 42   RoW Photoacoustic Imaging Market Size, by Country, 2018–2022(USD Billion)
Table 43   RoW Photoacoustic Imaging Market Size, by Country, 2023–2030 (USD Billion)
Table 44   Snapshot – Verasonics Inc.
Table 45   Snapshot – Vibronix Inc.
Table 46   Snapshot – FUJIFILM VisualSonics Inc.
Table 47   Snapshot – illumiSonics Inc.
Table 48   Snapshot – EKSPLA
Table 49   Snapshot – InnoLas Laser GmbH
Table 50   Snapshot – PhotoSound Technologies Inc.
Table 51   Snapshot – Teem Photonics
Table 52   Snapshot – TomoWave Laboratories Inc.
Table 53   Snapshot – Seno Medical Instruments Inc.

List of Figures

Figure 1 Market Coverage
Figure 2 Research Phases
Figure 3 Secondary Sources for Different Parameters
Figure 4 Methodology
Figure 5 Data Mining & Exploration
Figure 6 Data Triangulation
Figure 7 Assumptions for Market Estimation and Forecast
Figure 8 Market Synopsis
Figure 9 Global Photoacoustic Imaging Market - Growth Drivers and Restraints
Figure 10 Competitive Benchmark
Figure 11 Global Photoacoustic Imaging Market Highlight
Figure 12 Global Photoacoustic Imaging Market Size, by Product, 2018–2030 (USD Billion)
Figure 13 Global Photoacoustic Imaging Market Size, by Application, 2018–2030 (USD Billion)
Figure 14 Global Photoacoustic Imaging Market Size, by Indication, 2018–2030 (USD Billion)
Figure 15 Global Photoacoustic Imaging Market Size, by Region, 2018–2030 (USD Billion)
Figure 16 North America Photoacoustic Imaging Market Highlight
Figure 17 North America Photoacoustic Imaging Market Size, by Product, 2018–2030 (USD Billion)
Figure 18 North America Photoacoustic Imaging Market Size, by Application, 2018–2030 (USD Billion)
Figure 19 North America Photoacoustic Imaging Market Size, by Indication, 2018–2030 (USD Billion)
Figure 20 North America Photoacoustic Imaging Market Size, by Country, 2018–2030 (USD Billion)
Figure 21 Europe Photoacoustic Imaging Market Highlight
Figure 22 Europe Photoacoustic Imaging Market Size, by Product, 2018–2030 (USD Billion)
Figure 23 Europe Photoacoustic Imaging Market Size, by Application, 2018–2030 (USD Billion)
Figure 24 Europe Photoacoustic Imaging Market Size, by Indication, 2018–2030 (USD Billion)
Figure 25 Europe Photoacoustic Imaging Market Size, by Country, 2018–2030 (USD Billion)
Figure 26 Asia-Pacific Photoacoustic Imaging Market Highlight
Figure 27 Asia-Pacific Photoacoustic Imaging Market Size, by Product, 2018–2030 (USD Billion)
Figure 28 Asia-Pacific Photoacoustic Imaging Market Size, by Application, 2018–2030 (USD Billion)
Figure 29 Asia-Pacific Photoacoustic Imaging Market Size, by Indication, 2018–2030 (USD Billion)
Figure 30 Asia-Pacific Photoacoustic Imaging Market Size, by Country, 2018–2030 (USD Billion)
Figure 31 RoW Photoacoustic Imaging Market Highlight
Figure 32 RoW Photoacoustic Imaging Market Size, by Product, 2018–2030 (USD Billion)
Figure 33 RoW Photoacoustic Imaging Market Size, by Application, 2018–2030 (USD Billion)
Figure 34 RoW Photoacoustic Imaging Market Size, by Indication, 2018–2030 (USD Billion)
Figure 35 RoW Photoacoustic Imaging Market Size, by Country, 2018–2030 (USD Billion)