Photoacoustic Imaging Market To Reach $339.02 Million By 2030

Photoacoustic Imaging Market Growth & Trends

The global photoacoustic imaging market size is anticipated to reach USD 339.02 million by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 19.27% from 2023 to 2030. The increase in the prevalence of chronic diseases, growing application in research and development activities, and rapid advancements in healthcare technology are key contributors to the market growth.

The advancement in photoacoustic imaging (PAI) offers a unique combination of structural and functional information, making it valuable for early disease detection and monitoring in healthcare. PAI is non-invasive and uses non-ionizing radiation, making it safer than traditional imaging methods and appealing to patients and healthcare providers. These factors are propelling the growth of the market. For instance, in August 2023, TomoWave launched LOIS-3D three-dimensional quantitative optoacoustic tomography (qOAT). Using the most attractive aspects of light and sound, this innovative technology creates three-dimensional visualizations of tiny animal models of human diseases with unsurpassed detail and contrast.

Consumer awareness of preventative healthcare is growing, and PAI is becoming easier to use. In the near future, it is also anticipated that manufacturers will increase their promotional efforts for photoacoustic imaging systems, which will accelerate their utilization. In addition, minimally invasive procedures have a high chance of success. Therefore, for diagnosis and treatment, patients worldwide favor less invasive PAI propelling market expansion.

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Photoacoustic Imaging Market Report Highlights

• Based on product, the photoacoustic tomography (PAT) segment dominated the market in 2022 with the largest revenue share of 63.22% due to its high resolution, multiscale imaging, and accurate diagnosis of various diseases

• Based on application, the oncology segment dominated the market in 2022 with the highest revenue share of 52.68%. This share is attributed to photoacoustic imaging offering real-time monitoring of tumor responses to therapies and helping oncologists assess the effectiveness of treatments like chemotherapy

• Based on type, the pre-clinical segment dominated the market in 2022 with the largest revenue share of 79.57% owing to the increasing research and developments and advancement in imaging technology

• North America dominated the overall regional market with the highest revenue share of 42.81% in 2022, owing to the existence of a large number of market competitors in the region and the growing prevalence of chronic diseases in the region

Photoacoustic Imaging Market Segmentation

Grand View Research has segmented the global photoacoustic imaging market based on product, application, type, and region:

Photoacoustic Imaging Product Outlook (Revenue, USD Million, 2018 - 2030)

• Photoacoustic Tomography (PAT)

• Photoacoustic Microscopy (PAM)

Photoacoustic Imaging Type Outlook (Revenue, USD Million, 2018 - 2030)

• Pre-Clinical

• Clinical

Photoacoustic Imaging Application Outlook (Revenue, USD Million, 2018 - 2030)

• Oncology

• Cardiology

• Angiology

• Histology

• Interventional radiology

Photoacoustic Imaging Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • Norway

  • Denmark

  • Sweden

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Brazil

  • Mexico

  • Argentina

  • Colombia

• Middle East and Africa (MEA)

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in the Photoacoustic Imaging Market

• Advantest Corp.

• TomoWave

• Kibero GmbH

• FUJIFILM VisualSonics Inc.

• Seno Medical Instruments

• iThera Medical GmbH

• Aspectus GmbH

• Vibronix Inc.