North America Photoacoustic Imaging Market – Industry Trends and Forecast to 2028

Market Analysis and Insights: North America Photoacoustic Imaging Market

The North America photoacoustic imaging market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 17.6% in the forecast period of 2021 to 2028 and is expected to reach USD 60,670.16 thousand by 2028. Rise in incidences of cancer, growing geriatric population around the world acts as driver for the photoacoustic imaging market growth.

Photoacoustic imaging is a hybrid imaging technology based on the photoacoustic effect. When non-ionizing laser pulses are delivered to tissues, some of the energy is converted to heat, which causes a rapid thermoelastic expansion and the generation of an ultrasonic wave. These waves can then be detected with the same equipment used in ultrasound imaging. The non-ionizing radiation being major advantage is pushing the development of this technology in the medical research field especially in the oncology application.

The rising healthcare industry and safe non-ionizing radiation used in the photoacoustic technology is the major driving factor in the market. The higher initial cost of adoption of photoacoustic imaging instruments and the developing technology can prove to be a challenge for the market.

However many advantages of better resolution and safe radiation prove to be a creative opportunity. The high level of training and lack of established infrastructure can be a restraint for the adoption of photoacoustic imaging and the market faced challenges due to the impact of COVID-19 on the supply chain of the raw materials.

The photoacoustic imaging market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the photoacoustic imaging market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.

North America Photoacoustic imaging Market Scope and Market Size

The North America photoacoustic imaging market is segmented on the based on the components, type, diagnostic channel, platform, dimension, modality, application, end user and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

• On the basis of components, the photoacoustic imaging market is segmented into hardware (component & substance medium), software and services. In 2021, hardware (component & substance medium) segment is expected to dominate the photoacoustic imaging market as it is the building block of the machine which includes the important parts such as lasers data acquisition units and sensors.
• On the basis of type, the photoacoustic imaging market is segmented into photoacoustic imaging system and photoacoustic computed tomography system. In 2021, photoacoustic imaging system segment is expected to dominate the photoacoustic imaging market as it includes the most commonly adopted microscopy system which are easier for adoption and better resolution.
• On the basis of platform, the photoacoustic imaging market is segmented into pulsed laser diode, LED based, xenon flash and others. In 2021, pulsed laser diode segment is expected to dominate the photoacoustic imaging market as it is the most common used laser for the photoacoustic application with higher power and better control over the switching technique.
• On the basis of application, the photoacoustic imaging market is segmented into preclinical and clinical. In 2021, preclinical segment is expected to dominate the photoacoustic imaging market as the photoacoustic imaging technology is in the developing phase and clinical approval requires reliable and consistent results.
• On the basis of modality, the photoacoustic imaging market is segmented into portable, standalone and handheld. In 2021, portable segment is expected to dominate the photoacoustic imaging market as the laser system for the radiation can be integrated with the Ultrasonic devices which are portable and can be carried on a cart.
• On the basis of dimension, the photoacoustic imaging market is segmented into 2D and 3D. In 2021, 2D segment is expected to dominate the market as it is easier to adopt and the less time required for image acquisition makes it the first choice.
• On the basis of diagnostic application, the photoacoustic imaging market is segmented into oncology, hematology, dermatology, cardiology, neurology and others. In 2021, oncology segment is expected to dominate the market as it has most application of this technology for cancer treatment and detection.
• On the basis of distribution channel, the photoacoustic imaging market is segmented into direct tender, retail sales, online sales and others. In 2021, direct tender segment is expected to dominate the market due to being most commonly used channel while new infrastructure is being setup.
• On the basis of end user, the photoacoustic imaging market is segmented into hospitals and clinics, diagnostic imaging centers, ambulatory surgical centers, research laboratories, pharmaceutical and biotechnology companies and others. In 2021, the diagnostic imaging centers segment is expected to dominate the market due to the increased requirement of pharmaceutics due to the prevailing COVID-19 pandemic situation.

North America Photoacoustic Imaging Market Country Level Analysis

The photoacoustic imaging market is analysed and market size information is provided by the country, components, type, application, modality, platform, dimension, diagnostic application, end user and distribution channel as referenced above.

The countries covered in the photoacoustic imaging market report are the U.S., Canada and Mexico.

U.S. dominates the market due to the higher development in healthcare sector and research organizations developing this technology.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.

Growing Research of New Technology for Safe Cancer Detection and Imaging is Boosting the Market Growth of North America Photoacoustic Imaging Market.

The North America photoacoustic imaging market also provides you with detailed market analysis for every country growth in particular market. Additionally, it provides the detail information regarding the market players’ strategy and their geographical presence. The data is available for historic period 2010 to 2019.

Competitive Landscape and North America Photoacoustic Imaging Market Share Analysis

Photoacoustic imaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Photoacoustic imaging market.

The major companies which are dealing in the North America photoacoustic imaging are PreXion, HÜBNER Photonics, InnoLas Laser GmbH, QUANTEL LASER, BK Medical Holding Company, Inc., ADVANTEST CORPORATION, OPOTEK LLC, NanoHybridsm, IllumiSonics Inc., FUJIFILM Visualsonics, Inc., PST Inc., TomoWave Laboratories, Inc., Vibronix, Inc., Litron Lasers, EKSPLA, Seno Medical Instruments, Inc., and Daylight Solutions among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

Many contract and agreement are also initiated by the companies’ worldwide which are also accelerating the Photoacoustic imaging market.

For instance,

• In October 2020, illumiSonics Inc.’s photoacoustic remote sensing microscopy can help to maximize the safety in brain tumour surgery, as this imaging can help to differentiate gliosis from healthy tissue, necrotic from living tissue and white from gray material. This development will help the company to set a new benchmark in market.
• In April 2021, PST Inc. had announced the partnership with Scintica, North American distributor of the TriTom systems. Since the images are acquired simultaneously by the company, the TriTom platform is based on Photoacoustic Fluorescence Tomography (PAFT) technology, which will provide inherently co-registered high resolution photoacoustic and fluorescence optical tomography. By this partnership, the company can expand their product range, creating a benchmark for competitors.

Collaboration, product launch, business expansion, award and recognition, joint ventures and other strategies by the market player is enhancing the company footprints in the photoacoustic imaging market which also provides the benefit for organization’s profit growth.

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