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The report "Photoacoustic Imaging Market by Product (Imaging Systems, Software & Other Accessories), Application (Pre-Clinical, Clinical), Indication (Oncology, Cardiology, Others) - Global Forecast to 2030", 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. Some of the major 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.

Globally, Governments as well as industry players are investing into the acquisition of healthcare equipment. Healthcare providers are anticipated to witness huge drop in their profit margin. According to a research published ‘‘The Economic Impact of the COVID-19 Pandemic on Radiology Practices’’ on April 15, 2020 on Radiological Society of North America, the net decrease in demand for non-COVID-19 related health care and concomitant capacity expansion are encouraging developments for the collective public health response. However, their combination is also financially devastating for many medical specialties. While economic recessions tend to result in decreased health expenditures, the healthcare industry has never experienced an economic shock that is simultaneously exacerbated by the need to restrict its supply of certain services.

Browse 53 market data Tables and 35 Figures spread through 165 Pages and in-depth TOC on "Photoacoustic imaging Market by Product (Imaging Systems, Software & Other Accessories), Application (Pre-Clinical, Clinical), Indication (Oncology, Cardiology, Others) - Global Forecast to 2030"

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.

Global Photoacoustic Imaging Market Segmentation Analysis

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“North America to hold the largest regional market share in 2022.”

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.

Some of the major 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.

Scope of the Report

Global Photoacoustic Imaging Market Coverage

Product Insight and Forecast 2018-2030

• Imaging Systems
• Software and Other Accessories

Application Insight and Forecast 2018-2030

• Pre-Clinical
• Clinical

Indication Insight and Forecast 2018-2030

• Oncology
• Cardiology
• Others

Geographical Segmentation

Photoacoustic imaging Market by Region

North America

• By Product
• By Application
• By Indication
• By Country – U.S., Canada, and Mexico

Europe

• By Product
• By Application
• By Indication
• By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

• By Product
• By Application
• By Indication
• By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

• By Product
• By Application
• By Indication
• By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries