Photoacoustic Imaging System Market Size to Expand Lucratively by 2031

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 2030."

According to the latest research by Insightace Analytics, the global photoacoustic imaging system market was valued at US$ 71.31 Million in 2021. It is expected to reach US$ 327.13 Million by 2030, with a CAGR of 18.9 % during a forecast period of 2022-2030.

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Photoacoustic imaging is a non-invasive, in vivo, non-ionizing biomedical imaging technique that can image relatively deep tissues. Organelles and other biological characteristics include multi-scale, multi-contrast imaging from photoacoustic devices. It has other benefits, including molecular targeting at imaging depth, high penetration depth, excellent image quality, and the absence of hazardous ionizing radiation. In photoacoustic imaging, light is used as an excitation source. An ultrasonic image is used to detect sound waves generated by optically exciting targets and create images of optical absorption.
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.

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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.

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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

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About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

This release was published on openPR.