Global Photoacoustic Imaging Market Forecasts to 2029: Ongoing Technological Advancements, Availability of Novel Contrast Agents, Potential for Theranostic Usage
DUBLIN, Dec. 13, 2019 /PRNewswire/ -- The "Global Photoacoustic Imaging Market: Focus on Regulatory Scenario, Product, Application, Diagnostic Application, End User, 19 Countries Data, Competitive Landscape - Analysis and Forecast, 2019-2029" report has been added to ResearchAndMarkets.com's offering.
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The photoacoustic imaging market industry analysis projects the market to grow at a significant CAGR of 28.88% during the forecast period, 2019-2029. The photoacoustic imaging market generated $102.2 million in revenue in 2018, in terms of value.
Expert Quote
Better preclinical results are needed to improve the physician's confidence rate towards photoacoustic imaging, the widespread clinical adoption is many years away but once approved clinical applications of photoacoustic imaging should dominate the market.
Market Dynamics
The rapidly growing incidence of chronic disorders including cancer and cardiovascular diseases is emphasizing the use of non-invasive and real-time diagnostic methods for early detection. With greater specificity compared to traditional ultrasound, photoacoustic imaging is emerging as a unique diagnostic approach for the early detection and better management of chronic disorders. Attributed to its potential in the functional characterization of living tissues, the demand for photoacoustic imaging is rapidly increasing in clinical as well as preclinical research particularly for the early detection of cancer, cardiovascular diseases, and the abnormalities in microcirculation.
Owing to these advancements, several established, as well as emerging manufacturers in the market, are developing and offering innovative photoacoustic imaging solutions. Moreover, attributed to its potential usage in humans, research is underway to develop novel clinical photoacoustic imaging solutions. Hence, the market is expected to witness exponential growth over the coming 10 years.
North America is the leading contributor in the global photoacoustic imaging market and contributed approximately 53.35% to the global market value in 2018. This region is anticipated to grow at a CAGR of 28.85% during the forecast period 2019-2029 and will continue dominating the global market in 2029 as well. However, the Europe region is expected to grow at an impressive CAGR of 30.51% during the forecast period 2019-2029. The Asia-Pacific region contributed a share of 13.28% to the global market and is anticipated to grow at a CAGR of 27.36% during the forecast period 2019-2029.
Research Highlights
Clinical applications are expected to witness a robust CAGR of 30.25% during the forecast period 2019-2029. Moreover, the hematology segment under diagnostic application is expected to witness an impressive growth at a CAGR of 30.28% during the forecast period 2019-2029.
The imaging systems segment is currently the largest shareholder in the global photoacoustic imaging market. This market dominance is attributed to the worldwide availability of a good number of photoacoustic imaging systems.
This market intelligence report provides a multi-dimensional view of the global photoacoustic imaging market in terms of market size and growth potential. This research report aims at answering various aspects of the global photoacoustic imaging market with the help of key factors driving the market, restraints that can possibly inhibit the overall growth of the market, and the current growth opportunities that are going to shape the future trajectory of the market expansion.
Furthermore, the competitive landscape chapter in the report explicates the competitive nature of the global market and enables the reader to get acquainted with the recent market activities, such as product launches and approvals, partnerships, collaborations, business expansions, as well as mergers and acquisitions. The research report provides a comprehensive analysis of the product sales, manufacturers, service providers, and trend analysis by segment, and growth share analysis by region. Additionally, the report provides a comprehensive attractive analysis and opportunity analysis for the entire global photoacoustic imaging market for 2018 and 2029.
This report is a meticulous compilation of the research of 50 players in the market ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of 10 leading companies, market participants, and vendors. The report also comprises 15 detailed company profiles including that of EKSPLA, ESAOTE SPA, FUJIFILM VisualSonics Inc., illumiSonics Inc., InnoLas Laser GmbH, iThera Medical GmbH, kibero, OPOTEK LLC, PA Imaging, PhotoSound Technologies Inc., Seno Medical Instruments Inc., Teem Photonics, TomoWave Laboratories, Verasonics, Inc., and Vibronix, Inc.
The answers to the following key questions can be derived from this report:
-- How is the clinical use of photoacoustic imaging expected to evolve in
the future?
-- Imaging systems is currently the leading product-based segment in the
global photoacoustic imaging market. Which clinical applications of
photoacoustic imaging are expected to emerge in the field of medical
imaging?
-- How are the industry players trying to overcome the challenges
associated with the clinical translation of photoacoustic imaging?
-- What are the steps taken by the industry players to overcome the lack of
awareness for photoacoustic imaging?
-- How is the current dominating stake conquered by imaging systems
expected to be impacted due to the evolving perception of end-users
toward the incorporation of photoacoustic imaging?
-- What are the key strategies incorporated by the leading players of the
global photoacoustic imaging market to sustain the competition?
-- What is the current total market size and forecasts (until 2029) for
different product categories available in the market?
-- What is the current total market size and forecasts (until 2029) for
different diagnostic applications?
-- What is the scope of the global photoacoustic imaging market in North
America, Europe, Asia-Pacific, and Rest-of-the-World?
-- What is the role of each type of player in the photoacoustic imaging
market?
Key Topics Covered
Executive Summary
1 Report Scope and Methodology
1.1 Product Definition
1.2 Research Scope
1.3 Global Photoacoustic Imaging Market: Research Methodology
1.3.1 Primary Data Sources
1.3.2 Secondary Data Sources
1.3.3 Data Triangulation
2 Industry Insights
2.1 Regulatory Framework and Government Initiatives
2.1.1 Regulations in the U.S.
2.1.2 Regulations in Europe
2.1.3 Regulations in Other Countries
2.2 Patent Analysis
2.3 Physicians' Perception
3 Competitive Landscape
3.1 Key Strategies and Developments
3.1.1 Joint Ventures, Collaborations, and Partnerships
3.1.2 Product Launches
3.1.3 Rewards and Recognitions
3.1.4 Mergers and Acquisitions
3.1.5 Business Expansions
3.1.6 Funding and Investments
3.1.7 Product Approvals
3.2 Market Share Analysis
3.2.1 Market Share Analysis: Global Photoacoustic Imaging Market (Imaging Systems)
3.2.2 Market Share Analysis: Global Photoacoustic Imaging Market (Components)
3.2.2.1 Market Share Analysis: Global Photoacoustic Imaging Market (Lasers)
3.2.2.2 Market Share Analysis: Global Photoacoustic Imaging Market (Transducers)
3.2.3 Market Share Analysis: Global Photoacoustic Imaging Market (Contrast Agents)
3.2.4 Market Share Analysis: Global Photoacoustic Imaging Market (Software and Other Accessories)
3.3 Growth Share Analysis
3.3.1 Growth Share Matrix (by Product)
3.3.2 Growth Share Matrix (by Application)
3.3.3 Growth Share Matrix (by Diagnostic Application)
3.3.4 Growth Share Matrix (by End User)
4 Global Market Scenario
4.1 Introduction
4.2 Principle and Advantages of Photoacoustic Imaging
4.3 Awaited Technological Advancements
4.4 Global Photoacoustic Imaging Market Scenario
4.4.1 Global Photoacoustic Imaging Addressable Market and Future Potential (2018-2029)
4.4.2 Assumptions and Limitations
4.5 Market Dynamics
4.5.1 Overview
4.5.2 Impact Analysis
4.5.3 Market Drivers
4.5.3.1 Limited Results with Conventional Ultrasound
4.5.3.2 Rising Awareness for Early Disease Diagnosis
4.5.3.3 Increasing Demand for Non-Invasive Imaging in Pre-Clinical Research
4.5.4 Market Restraints
4.5.4.1 Regulatory Challenges
4.5.4.2 High Cost of Investment
4.5.4.3 Lack of Favorable Reimbursement Policies
4.5.5 Market Opportunities
4.5.5.1 Ongoing Technological Advancements
4.5.5.2 Availability of Novel Contrast Agents
4.5.5.3 Potential for Theranostic Usage
5 Global Photoacoustic Imaging Market (by Product), 2018 - 2029
5.1 Overview
5.2 Imaging Systems
5.3 Components
5.3.1 Lasers
5.3.2 Transducers
5.4 Contrast Agents
5.5 Software and Other Accessories
6 Global Photoacoustic Imaging Market (by Application), 2018 - 2029
6.1 Overview
6.2 Preclinical
6.3 Clinical
7 Global Photoacoustic Imaging Market (by Diagnostic Application), 2018 - 2029
7.1 Overview
7.2 Oncology
7.3 Cardiology
7.4 Neurology
7.5 Hematology
7.6 Others
8 Global Photoacoustic Imaging Market (by End User), 2018 - 2029
8.1 Overview
8.2 Research Institutions
8.3 Hospitals and Clinics
8.4 Others
9 Global Photoacoustic Imaging Market (by Region), 2018 - 2029
9.1 Overview
9.2 North America
9.3 Europe
9.4 Asia-Pacific
9.5 Rest-of-the-World (RoW)
10 Company Profiles
10.1 Overview
10.2 EKSPLA
10.2.1 Company Overview
10.2.2 Role of EKSPLA in the Global Photoacoustic Imaging Market
10.2.3 SWOT Analysis: EKSPLA
10.3 ESAOTE SPA
10.4 FUJIFILM VisualSonics Inc.
10.5 illumiSonics Inc.
10.6 InnoLas Laser GmbH
10.7 iThera Medical GmbH
10.8 kibero
10.9 OPOTEK LLC
10.10 PA Imaging
10.11 PhotoSound Technologies Inc.
10.12 Seno Medical Instruments Inc.
10.13 Teem Photonics
10.14 TomoWave Laboratories
10.15 Verasonics, Inc.
10.16 Vibronix, Inc.
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