Photoacoustic Tomography System Market Growth Overview, Size, Future Trends, Share, Opportunities and Forecast to 2028

The Photoacoustic Tomography Market is projected to reach US$ 209.56 million by 2028 from US$ 61.12 million in 2021; it is expected to grow at a CAGR of 19.2% from 2021 to 2028.

The report highlights trends prevailing in the market and factors driving the market growth. The photoacoustic tomography market growth is attributed to the rising prevalence of cancer and the growing incidence of cardiovascular diseases. However, the disadvantages associated with photoacoustic tomography (PAT) hamper the growth of the market growth. Photoacoustic tomography is an advanced, hybrid diagnostic technique based on laser-induced thermoelastic expansion, which delivers the combination of optical and ultrasound imaging benefits. It is an emerging technology that uses non-ionizing radiations.

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Companies Profiled in this report includes:

• FUJIFILM Visualsonics Inc.
• TomoWave Laboratories, Inc.
• Advantest Corporation
• Kibero
• Aspectus GmbH
• iThera Medical GmbH
• CYBERDYNE INC.
• InnoLas Laser GmbH
• OPOTEK LLC
• Seno Medical

The COVID-19 pandemic had a short-term negative effect on the photoacoustic tomography market growth in 2020. The pandemic has affected three main aspects of the global economy: manufacturing, supply chain, and business and financial markets. Japan, China, South Korea, India, and Australia are the hardest-hit countries due to the huge number of COVID-19 cases and related deaths. Moreover, during this global crisis, healthcare service providers had to either postpone or delay cancer screening, diagnosis, and treatment procedures, which disrupted the demand for photoacoustic tomography. The scarcity of medical care services for conditions other than COVID-19 across the world had a detrimental impact on the photoacoustic tomography market. In addition, the lockdown restrictions imposed by various country governments led to the reduced deployment of photoacoustic imaging systems, because of the declined demand, postponed clinical and pre-clinical trials, and widespread financial distress. The situation began to improve in 2021, as people started visiting hospitals, imaging centers for their disease screening, diagnosis, and treatment. Moreover, as social restrictions were relaxed, many pre-clinical and clinical studies were resumed in 2021, which is expected to spur the demand for photoacoustic tomography.

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Photoacoustic Tomography Market Segmentation:

by Geometry:
• Planar
• Cylindrical
• Spherical
By Type:
• Intravascular Photoacoustic Tomography
• Photoacoustic Microscopy

By Application:
• Tumor Angiogenesis Monitoring
• Blood Oxygenation Mapping
• Functional Brain Imaging
• Skin Melanoma Detection
• Methemoglobin Measuring
• Others

By End User:
• Hospitals
• Diagnostics Imaging Centers
• Academic and Research Institutes

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The photoacoustic tomography market, based on geometry, is segmented into planar, cylindrical and spherical. The planar segment held the largest share of the market in 2021. However, the spherical segment is anticipated to register the highest CAGR during the forecast period. The photoacoustic tomography market, by type, is segmented into intravascular photoacoustic tomography, photoacoustic microscopy, and others. The intravascular photoacoustic tomography segment held the largest share of the market in 2021.
Moreover, the same segment is anticipated to register the highest CAGR during the forecast period. The photoacoustic tomography market, based on application, is segmented into tumor angiogenesis, blood oxygenation mapping, functional brain imaging, skin melanoma detection, methemoglobin measuring, and others. The tumor angiogenesis segment held the largest share of the market in 2021. However, the blood oxygenation mapping segment is anticipated to register the highest CAGR during the forecast period. The photoacoustic tomography market, by end user, is segmented into hospitals, diagnostics imaging centers, academic and research institutes, and others. The hospital segment held the largest market share in 2021.

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