Photoacoustic tomography Market Size & Share Report, 2021, 28

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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Photoacoustic Tomography Market: Strategic Insights

Photoacoustic Tomography Market

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  CAGR (2021 - 2028)

  19.2%
• Market Size 2021
  US$ 61.12 Million
• Market Size 2028
  US$ 209.56 Million

Market Dynamics

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FUTURE TRENDS

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OPPORTUNITIES

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Key Players

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

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Geometry

• Planar
• Cylindrical
• Spherical

Type

• Intravascular Photoacoustic Tomography
• Photoacoustic Microscopy

Application

• Tumor Angiogenesis
• Blood Oxygenation Mapping
• Functional Brain Imaging
• Skin Melanoma Detection
• Methemoglobin Measuring

End User

• Hospitals
• Diagnostic Imaging Centers
• Academic & Research Institutes

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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 Scope

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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.