Photoacoustic Imaging Market by Application and Geography - Forecast and Analysis 2021-2025

The photoacoustic imaging market size has the potential to grow by USD 84.45 million during 2020-2025, and the market’s growth momentum will accelerate at a CAGR of 7.92%. 

This report provides a detailed analysis of the market by application (pre-clinical, clinical, and analytics), geography (Asia, Europe, North America, and ROW), and key vendors. 

Market Overview

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Market Competitive Analysis

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

• accela sro
• Canon Inc.
• ENDRA Life Sciences Inc.
• FUJIFILM Holdings Corp.
• illumiSonics Inc.
• iThera Medical GmbH
• kibero GmbH
• Luxonus Inc.
• PA Imaging R&D BV
• Vibronix Inc.

 

The photoacoustic imaging market is concentrated and the vendors are deploying growth strategies such as establishing partnerships and alliances with global companies operating in the healthcare industry to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as the increase in the number of non-communicable diseases to achieve growth opportunities. However, factors such as high investment, equipment, and installation costs will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the photoacoustic imaging market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

This photoacoustic imaging market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities. 

Photoacoustic Imaging Market: Key Drivers and Trends

The increasing number of non-communicable diseases is one of the primary growth factors for the photoacoustic imaging market. Unhealthy eating habits, smoking and alcohol consumption, and lack of physical exercise are resulting in the growing incidences of chronic diseases. Sedentary lifestyles, unbalanced diet, and urbanization is increasing the number of patients suffering from diabetes and patients in healthcare facilities. The growing prevalence of chronic diseases is influencing the demand for advanced healthcare facilities, such as photoacoustic imaging.

The growing number of skin and eye disorders is identified as one of the key photoacoustic imaging market trends. Photoacoustic imaging is applied in the treatment of a wide range of medical applications such as the screening of different disorders of neurons, eyes, and skin. It has been observed that skin cancer is the most common occurrence in developed regions such as the US. Incidences of eye disorders and infections are increasing. Photoacoustic imaging is used in the molecular spectroscopy and cellular imaging of cancer and in examining the ocular structures of the eyes.

 

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Photoacoustic Imaging Market: Segmentation by Geography

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44% of the market’s growth will originate from North America during the forecast period. The US is a key market for photoacoustic imaging in North America. However, market growth in this region will be slower than the growth of the market in Asia.

The high adoption of medical imaging among end-users such as hospitals, clinics, and other healthcare service providers will facilitate the photoacoustic imaging market growth in North America over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

Photoacoustic Imaging Market: Segmentation by Application

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The global pharmaceutical industry is witnessing a high growth rate, owing to the launch of new drugs in the US, the reduction in the prices of drugs, and the high investments in identifying new drugs that can cure new and rare diseases. This is expected to drive the demand for photoacoustic imaging, as it is increasingly used to monitor drug efficiency, particularly before the delivery and release of drugs. Moreover, the increasing number of pre-clinical research and the growing investments by contract research organizations (CRO) for research purposes will lead to the growth of the pre-clinical segment during the forecast period. However, the photoacoustic imaging market share growth by the pre-clinical segment will be slower than in the clinical and analytics segments.    

This report provides an accurate prediction of the contribution of all the segments to the growth of the photoacoustic imaging market size. Fetch actionable market insights on post COVID-19 impact on each segment.   

 

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Photoacoustic Imaging Market: Key Highlights of the Report for 2021-2025

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive photoacoustic imaging market growth during the next five years
• Precise estimation of the photoacoustic imaging market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the photoacoustic imaging industry across Asia, Europe, North America, and ROW
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of photoacoustic imaging market vendors

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