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.
Photoacoustic tomography is a type of biomedical imaging technique that utilizes the combination of optical and ultrasound technology for acquiring images of biological tissues without using ionizing radiations or excising tissue. Tomography imaging technique in vivo can be used for applications such as tumor angiogenesis monitoring, blood oxygenation mapping, detecting skin melanoma, functional brain imaging, and methemoglobin measuring.
The photoacoustic tomography market is segmented on the basis of geometry, type, application, end user, and geography. The market, by geography, is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The photoacoustic tomography market report offers insights and in-depth analysis of the market, emphasizing the parameters such as market size, trends, technological advancements, and market dynamics, along with the analysis of the competitive landscape of the globally leading market players.
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You will get customization on any report - free of charge - including parts of this report, or country-level analysis, Excel Data pack, as well as avail great offers and discounts for start-ups & universities
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The growth of the photoacoustic tomography market is attributed to the rise in pre-clinical studies on photoacoustic tomography in several academic and research institutes, and advancements in the imaging technique of photoacoustic tomography. However, the high cost of equipment and its installation restricts the market growth.
Market Insights
Growing Incidence of Cardiovascular Diseases Boosts Photoacoustic Tomography Market Growth
Atherosclerosis is the thickening or hardening of the arteries caused by a buildup of plaques in the inner lining of an artery. The plaques are made up of the deposits of cholesterol, fatty substances, cellular waste products, fibrin, and calcium, obstructing the blood flow due to the blockage of the arteries caused by deposition on their walls. This blockage may lead to various cardiovascular diseases (CVDs). According to the World Health Organization (WHO) data, CVDs are considered the leading cause of death worldwide, taking approximately 17.9 million lives every year. More than four out of five CVD deaths are due to heart attacks and strokes, and one-third of these deaths occur prematurely in people of age less than 70. According to the Centers for Disease Control and Prevention (CDC), in the US, someone has a heart attack every 40 seconds, and every year, ~805,000 people in the US suffer a heart attack. According to the American Heart Association, during 2015–2018, 126.9 million adults in the US had some form of CVD. Additionally, during 2017–2018, direct and indirect costs of total CVD to the country summed up to US$ 378.0 billion (US$ 226.2. billion in direct costs and US$ 151.8 billion in indirect costs due to lost productivity/mortality).
Further, various technologies, such as angiography, intravascular ultrasound (IVUS), and intravascular photoacoustic tomography, are used to detect CVDs. The IVUS imaging, combined IVPA, and IVUS imaging can be used to detect and characterize atherosclerotic plaques. The IVPA tomography offers various advantages in atherosclerotic plaque imaging over other techniques. Analyzing the multi-wavelength photoacoustic responses of the vessel wall makes it possible to discriminate between different tissue/cell types. With a high-frequency transducer, the photoacoustic signal can be resolved with a spatial resolution in the order of a few tens of micrometers—such resolution is appropriate for the detection of vulnerable plaques.
Geometry-Based Insights
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.
Type-Based Insights
The photoacoustic tomography market, based on 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. It is further anticipated to register the highest CAGR during the forecast period.
Application-Based Insights
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 market share in 2021. However, the blood oxygenation mapping segment is anticipated to register the highest CAGR during the forecast period.
End User-Based Insights
The photoacoustic tomography market, based on 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. However, the diagnostics imaging centers segment is anticipated to register the highest CAGR during the forecast period.
Photoacoustic tomography Market Report ScopePhotoacoustic Tomography Market Regional Insights
The regional trends and factors influencing the Photoacoustic Tomography Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Photoacoustic Tomography Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
- Get the Regional Specific Data for Photoacoustic Tomography Market
Photoacoustic Tomography Market Market Report Scope
Report Attribute | Details |
---|---|
Market size in 2021 | US$ 61.12 Million |
Market Size by 2028 | US$ 209.56 Million |
Global CAGR (2021 - 2028) | 19.2% |
Historical Data | 2019-2020 |
Forecast period | 2022-2028 |
Segments Covered |
By Geometry
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
Market Players Density: Understanding Its Impact on Business Dynamics
The Photoacoustic Tomography Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Photoacoustic Tomography Market are:
- FUJIFILM Visualsonics Inc.
- TomoWave Laboratories, Inc.
- Advantest Corporation
- Kibero
- Aspectus GmbH
Disclaimer: The companies listed above are not ranked in any particular order.
- Get the Photoacoustic Tomography Market top key players overview
Product launches and approvals are among the commonly adopted strategies by companies to expand their global footprints and product portfolios. The photoacoustic tomography market players also focus on the partnership strategy to enlarge their clientele, which, in turn, permits them to maintain their brand name across the world. They aim to flourish their market shares with the development of innovative products. FUJIFILM Visualsonics Inc.; TomoWave Laboratories, Inc.; Advantest Corporation; kibero; Aspectus GmbH; iThera Medical GmbH; CYBERDYNE INC.; InnoLas Laser GmbH; OPOTEK LLC; and Seno Medical are among the leading companies operating in the photoacoustic tomography market.
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Geometry, Type, Application, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
FUJIFILM VisualSonics Inc., TomoWave Laboratories, Inc., Advantest Corporation, kibero, Seno Medical Instruments, iThera Medical GmbH, Aspectus GmbH, OPOTEK LLC., CYBERDYNE Inc., and InnoLas Laser GmbH are among the leading companies operating in the global photoacoustic tomography market.
Based on geometry, planar geometry segment took the forefront leaders in the worldwide market by accounting largest share in 2021 and is expected to continue to do so durting the forecast period.
Rising prevalence of cancer and growing instances of cardiovascular diseases are the most significant factors responsible for the overall market growth.
North America is the largest market and it is expected to be the biggest revenue generator throughout the forecast period.
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The List of Companies - Photoacoustic Tomography Market
- FUJIFILM Visualsonics Inc.
- TomoWave Laboratories, Inc.
- Advantest Corporation
- Kibero
- Aspectus GmbH
- iThera Medical GmbH
- CYBERDYNE INC.
- InnoLas Laser GmbH
- OPOTEK LLC
- Seno Medical