Photoacoustic Imaging Market Size By Product (Photoacoustic Tomography, Photoacoustic Microscopy), By Type (Clinical, Preclinical), By Application (Oncology, Cardiology, Neurology), By End-use & Forecast, 2023 - 2032

Industry Statistics

Photoacoustic Imaging Market size was over USD 68 million in 2022. Driven by the surging incidence of chronic diseases globally, the industry is anticipated to grow at over 14% CAGR from 2023 to 2032.
 

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Growing incidences of chronic disorders such as cancer, neurological disorders, cardiac diseases, and others have increased the demand for photoacoustic imaging systems to diagnose non-invasive diseases. As per the American Cancer Society, in 2023, an estimated 1.9 million new cases of cancer are projected to be diagnosed in the U.S. alone.

However, prohibitive cost of advanced photoacoustic imaging systems may restrict photoacoustic imaging market growth to some extent. Specialized components and complex technology used in developing such imaging systems add to the cost of final product. Moreover, these devices can only be used by skilled medical practitioners, which may further limit production scale and pose challenges to mass adoption. 
 

Rising investments in medical imaging technology to favor use of photoacoustic tomography

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Photoacoustic tomography imaging market size will reach over USD 130 million in 2032. Photoacoustic tomography is a medical imaging modality that merges the benefits of ultrasound and optical imaging and is widely used in preclinical research and clinical practice. Surging investments in medical imaging technology are contributing to segment expansion. Recent advancements in high-throughput snapshot photoacoustic topography and integration of machine learning for image acquisition and processing are further fueling demand for photoacoustic tomograph systems. 
 

Advancements in photoacoustic imaging technology for oncological applications

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Photoacoustic imaging market from oncology applications will grow at over 15% CAGR from 2023 to 2032. Recent advancements in photoacoustic imaging have made it possible to obtain comprehensive morphofunctional and molecular information on tumors and their microenvironment for improved diagnosis of cancer. Moreover, the imaging modality also helps track the response of tumors to radiation therapy or chemotherapy to analyze the effectiveness of the treatment, which may create a favorable environment for market progress. 
 

North America to remain a key market for photoacoustic imaging

North America photoacoustic imaging market size will be more than USD 89 million by 2032. Rising preference for effective patient care through non-invasive disease diagnosis has increased the demand for photoacoustic imaging solutions in the region. Moreover, governments in the region are heavily spending on healthcare infrastructure which is also likely to contribute to regional expansion.
 

Global Photoacoustic Imaging Market Players

FUJIFILM VisualSonics Inc, Vibronix Inc, TomoWave Laboratories, Seno Medical Instruments, Photo sound Technologies Inc, Endra Life Sciences, and Advantest Corp, among others.
 

Photoacoustic imaging industry news:

• In June 2021, Optoacoustics, a prominent optical sound and vibration solutions provider announced that it had secured a U.S. FDA approval for its O2M system, a non-invasive monitoring device for the measurement of tissue oxygenation. This helped the company strengthen its product portfolio.
   

The Photoacoustic imaging market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments:

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By Product

• Photoacoustic tomography
• Photoacoustic microscopy

By Type

• Clinical
• Pre-clinical

By Application

• Oncology
• Cardiology
• Neurology
• Dermatology
• Others

By End-use

• Research Laboratories
• Hospitals and Clinics
• Diagnostic Imaging Centers
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Poland
  • Switzerland
  • Sweden
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Thailand
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
  • Peru
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Turkey
  • Egypt
  • Israel
  • Qatar