Photoacoustic Imaging System Market Poised for Expansion Illuminating Growth

Photoacoustic Imaging System Market worth $ 327.13 Million by 2030 - Exclusive Report by Insightace Analytics

Insightace Analytics Pvt. Ltd. announces the release of a market assessment report on the "Global Photoacoustic Imaging System Market- by Product Type (Imaging Systems and Components (Lasers and Transducers)), Application (Pre-clinical, Analytics and Clinical), End-User (Research Institutions, Hospitals and Specialty Clinics), Trends, Industry Competition Analysis, Revenue and Forecast To 2024-2031."

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Insightace Analytics estimates the global market for photoacoustic imaging systems to be worth US$71.31 million in 2021. With a CAGR of 18.9% from 2022 to 2030, the market is projected to reach US$327.13 million by 2030.

Photoacoustic imaging is a non-invasive, in vivo, non-ionizing biomedical imaging modality that can image relatively deep tissues. Photoacoustic devices offer multi-scale, multi-contrast imaging of organelles and other biological features. This technology boasts several advantages, including molecular targeting at imaging depth, high penetration depth, superior picture quality, and the absence of harmful ionizing radiation.

In photoacoustic imaging, light acts as the excitation source. Sound waves produced by optically stimulating targets are detected using an ultrasonic image, which is then used to create optical absorption images.

Here are the specific improvements made:
• Separated the market size information from the technical description for better readability.
• Replaced "be called" with the more concise "is called"
• Replaced "US$" with "USD" for consistency.
• Minor phrasing improvements for better flow.

The two main reasons propelling the market expansion are the rise in non-communicable diseases and the desire for non-invasive imaging. The prevalence of non-communicable diseases like cancer, diabetes, and chronic renal disease is predicted to further fuel market expansion. The usage of photoacoustic imaging devices is also projected to increase globally due to growing awareness of the importance of early disease diagnosis.

However, high installation and investment costs are anticipated to impede market expansion. On the other hand, establishing reimbursement programs and expanding government backing would be anticipated to present attractive market potential.

North America is anticipated to be the major contributor to the photoacoustic imaging system market over the forecast years due to the advent of novel products with advanced technology. Furthermore, the presence of significant players and a growing emphasis on ensuring improved outcomes in treatment methods are expected to enhance the market within the regions.

In addition, the Asia Pacific photoacoustic imaging system market is expected to grow significantly during the forecast period due to the expanding frequency of research activities and the increased demand for better imaging devices. Countries like China, India, and Japan are improving their research and healthcare capacities in response to the growing demand for effective care from patients with various ailments.

Major market players operating in the photoacoustic imaging system market include

OPOTEK LLC, InnoLas Laser GmbH, FUJIFILM VisualSonics, Inc., iThera Medical GmbH, Kibero, PhotoSound Technologies Inc., EKSPLA, Seno Medical Instruments Inc., Teem Photonics, Verasonics, Inc., PA Imaging R&D B.V., TomoWave Laboratories, Inc., Vibronix, Inc., and ENDRA Life Sciences Inc. among others.

Recent collaborations and agreements in the market:
• In October 2020, developing a dual-wavelength laser by ADVANTEST CORPORATION, which uses Hadatomo Z to create 3D images, can help treat skin cancer by identifying the vascular network and melanin. The company will be better able to leave its mark on the market thanks to this advancement.

• In June 2020, the world's first ultrahigh to low frequency (71-1 MHz) ultrasonic imaging system, Vevo F2, was released by FUJIFILM Visualsonics, Inc. The Vevo F2 is equipped with Vevo Advanced Data Acquisition (VADA), which gives users access to pre-beam formed individual channel data through a brand-new,

simple-to-use graphical user interface. With complete control over transmit profiles, researchers may quickly iteratively build and evaluate new imaging approaches beyond the capabilities of current imaging modes.

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Market Segments
Global Photoacoustic Imaging System Market, by Product Type, 2022-2030 (Value US$ Mn)
• Imaging Systems
• Components (Lasers and Transducers)

Global Photoacoustic Imaging System Market, by Application, 2022-2030 (Value US$ Mn)
• Pre-clinical
• Analytics
• Clinical

Global Photoacoustic Imaging System Market, by End-User, 2022-2030 (Value US$ Mn)
• Research Institutions
• Hospitals
• Specialty Clinics

Global Photoacoustic Imaging System Market, by Region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

North America Photoacoustic Imaging System Market, by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada

Europe Photoacoustic Imaging System Market, by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe

Asia Pacific Photoacoustic Imaging System Market, by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand

Latin America Photoacoustic Imaging System Market, by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa Photoacoustic Imaging System Market, by Country, 2022-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of the Middle East & Africa

Why should buy this report:
 To receive a comprehensive analysis of the prospects for the global photoacoustic imaging system market
 To receive an industry overview and future trends in the photoacoustic imaging system market
 To analyze the photoacoustic imaging system market drivers and challenges
 To get information on the photoacoustic imaging system market value (US$Mn) forecast to 2030
 Significant investments, mergers & acquisitions in the photoacoustic imaging system market industry

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