Photoacoustic Microscopy Systems Market Size | Forecast 2030

Segments - Photoacoustic Microscopy Systems Market by Types (Hardware Devices and Software Systems), Application (Hospitals, Diagnostic Centers, and Research Centers), Indications (Oncology, Neurology, Ophthalmology, Dermatology, and Pathology), and Regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Vishal Golekar

Report Description

The global photoacoustic microscopy systems market is projected to expand at a CAGR of 40% during the forecast period, 2021-2028. The growth of the market is attributed to increasing demand for early diagnosis tests and preventive medicine across the globe.

Photoacoustic microscopy is used for mapping microvasculature networks in biological tissues. During the mapping, the short-pulsed laser light is absorbed by biological tissues and is converted into transient heating, which is further converted into an ultrasonic wave due to thermoelastic expansion. The detection of the ultrasonic wave yields a tomographic image.

Photoacoustic Microscopy Systems Market Key Takeaways

Imaging devices play a vital role in the healthcare industry as they are used for early detection of disease and can lead to improved diagnostics and treatment. Imaging systems, including photoacoustic microscopy systems, aid physicians to follow up with the patients and monitor their medical condition on a regular basis. Photoacoustic microscopy systems are also used in cancer detection.

Market Drivers, Restraints, Trends, and Opportunities

Increasing geriatric population is driving the market growth. As per the World Population Aging report, published in 2019, the total population of the people in the age bracket 65 years and above is predicted to rise from 703 million to 1.5 billion by 2050. This is expected to massively push up the requirement for photoacoustic imaging as the geriatric people are highly vulnerable to various diseases owing to their low immunity levels.
High installation, service, and maintenance cost of these systems are the major restraints of the market.
Growing importance of tele-imaging for early diagnosis of diseases is anticipated to positively influence the market growth.

Scope of the Report

The report on the global photoacoustic microscopy systems market includes an assessment of the market, trends, segments and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Photoacoustic Microscopy Systems Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2020
Historic Data	2018–2019
Forecast Period	2021–2028
Segmentation	Types (Hardware Devices and Software Systems), Applications (Hospitals, Diagnostic Centers, and Research Centers), Indications (Oncology, Neurology, Ophthalmology, Dermatology, and Pathology)
Regional Scope	North America, Latin America, Europe, Asia Pacific, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	FUJIFILM VisualSonics Inc., EKSPLA, InnoLas Laser GmbH, illumiSonics Inc., Seno Medical Instruments Inc., PhotoSound Technologies Inc., TomoWave Laboratories Inc., Teem Photonics, Vibronix Inc., Verasonics Inc., kibero GmbH, iThera Medical GmbH, PA Imaging R&D B.V., and OPOTEK LLC.

Global Photoacoustic Microscopy Systems Market Insights

Software systems to exhibit a high CAGR
Based on types the market is segmented into hardware devices and software systems. The software segment is anticipated to account exhibit a high CAGR during the forecast period. This is owing to ongoing technological advancements that would allow for the launch of improved components for photoacoustic imaging systems. For instance, software tools with the digital radio frequency (RF)-mode export enables multispectral photoacoustic analysis of photoacoustic imaging agents and to detect sentinel lymph.

Photoacoustic Microscopy Systems Market By Types

Research centers segment to grow at a rapid rate
Based on applications, the market is segregated into hospitals, diagnostic centers, and research centers. The research centers segment is anticipated to grow at a rapid rate owing to high resolution ultrasound and photoacoustic imaging of single cells provided by the photoacoustic microscopy systems. The diagnostic centers and hospitals segments is projected to grow at a steady growth during the forecast period.

Photoacoustic Microscopy Systems Market By Applications

Oncology segment to account a large market share
Based on indications, the market is segregated as oncology, neurology, ophthalmology, dermatology, and pathology. The oncology segment is projected to account for a large market share during the forecast period. This can be mainly attributed to the increasing usage of photoacoustic microscopy imaging systems for cancer diagnosis, mainly breast cancer. Photoacoustic imaging plays a significant role in breast screening, diagnosis, staging and monitoring of therapeutic interventions.

North America to dominate the market
In terms of regions, the market is segregated into North America, Latin America, Europe, Asia Pacific and Middle East & Africa. North America held dominant position in the photoacoustic microscopy systems market in 2020. The regional market growth is primarily attributed to the increasing incidence of chronic diseases, rising geriatric population, and surging healthcare expenditure. For Instance, according to the United Nations (UN) World Population Ageing report, in 2019, in North America, there were 59.9 million people aged 65 years and above, and this number is projected to rise to 80.2 million by 2030. The market in Asia Pacific is anticipated to grow at a healthy rate owing to rising prevalence of cancer, rising healthcare expenditure, and increasing investments by public and private organizations.

Segments

Segments Covered in the Report
The global photoacoustic microscopy systems market has been segmented on the basis of

Type

Hardware Devices
Software System

Applications

Hospitals
Diagnostic Centers
Research Centers

Indications

Oncology
Neurology
Ophthalmology
Dermatology
Pathology

Regions

North America
Latin America
Europe
Asia Pacific
Middle East
Africa

Key players

FUJIFILM VisualSonics Inc.
EKSPLA
InnoLas Laser GmbH
illumiSonics Inc.
Seno Medical Instruments Inc.
PhotoSound Technologies Inc.
TomoWave Laboratories Inc.
Teem Photonics
Vibronix Inc.
Verasonics Inc.
kibero GmbH
iThera Medical GmbH
PA Imaging R&D B.V.
OPOTEK LLC.

Competitive Landscape

The key players in the global photoacoustic microscopy systems market are FUJIFILM VisualSonics Inc., EKSPLA, InnoLas Laser GmbH, illumiSonics Inc., Seno Medical Instruments Inc., PhotoSound Technologies Inc., TomoWave Laboratories Inc., Teem Photonics, Vibronix Inc., Verasonics Inc., kibero GmbH, iThera Medical GmbH, PA Imaging R&D B.V., and OPOTEK LLC.

Companies are focusing on providing superior customer service to acquire a large consumer base. They are indulging in mergers and acquisitions to improve their product offerings.

Photoacoustic Microscopy Systems Market By Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Photoacoustic Microscopy Systems Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Photoacoustic Microscopy Systems Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Photoacoustic Microscopy Systems Market - Supply Chain
  4.5. Global Photoacoustic Microscopy Systems Market Forecast
     4.5.1. Photoacoustic Microscopy Systems Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Photoacoustic Microscopy Systems Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Photoacoustic Microscopy Systems Market Absolute $ Opportunity
5. Global Photoacoustic Microscopy Systems Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Photoacoustic Microscopy Systems Market Size and Volume Forecast by Types
     5.3.1. Hardware Devices
     5.3.2. Software System
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Photoacoustic Microscopy Systems Market Analysis and Forecast by Applications
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Applications
     6.2.2. Y-o-Y Growth Projections by Applications
  6.3. Photoacoustic Microscopy Systems Market Size and Volume Forecast by Applications
     6.3.1. Hospitals
     6.3.2. Diagnostic Centers
     6.3.3. Research Centers
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Photoacoustic Microscopy Systems Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Photoacoustic Microscopy Systems Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Photoacoustic Microscopy Systems Demand Share Forecast, 2019-2026
8. North America Photoacoustic Microscopy Systems Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Photoacoustic Microscopy Systems Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Photoacoustic Microscopy Systems Market Size and Volume Forecast by Types
     8.4.1. Hardware Devices
     8.4.2. Software System
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Photoacoustic Microscopy Systems Market Size and Volume Forecast by Applications
     8.7.1. Hospitals
     8.7.2. Diagnostic Centers
     8.7.3. Research Centers
  8.8. Basis Point Share (BPS) Analysis by Applications
  8.9. Y-o-Y Growth Projections by Applications
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Photoacoustic Microscopy Systems Demand Share Forecast, 2019-2026
9. Latin America Photoacoustic Microscopy Systems Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Photoacoustic Microscopy Systems Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Photoacoustic Microscopy Systems Market Size and Volume Forecast by Types
     9.4.1. Hardware Devices
     9.4.2. Software System
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Photoacoustic Microscopy Systems Market Size and Volume Forecast by Applications
     9.7.1. Hospitals
     9.7.2. Diagnostic Centers
     9.7.3. Research Centers
  9.8. Basis Point Share (BPS) Analysis by Applications
  9.9. Y-o-Y Growth Projections by Applications
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Photoacoustic Microscopy Systems Demand Share Forecast, 2019-2026
10. Europe Photoacoustic Microscopy Systems Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Photoacoustic Microscopy Systems Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Photoacoustic Microscopy Systems Market Size and Volume Forecast by Types
     10.4.1. Hardware Devices
     10.4.2. Software System
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Photoacoustic Microscopy Systems Market Size and Volume Forecast by Applications
     10.7.1. Hospitals
     10.7.2. Diagnostic Centers
     10.7.3. Research Centers
  10.8. Basis Point Share (BPS) Analysis by Applications
  10.9. Y-o-Y Growth Projections by Applications
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Photoacoustic Microscopy Systems Demand Share Forecast, 2019-2026
11. Asia Pacific Photoacoustic Microscopy Systems Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Photoacoustic Microscopy Systems Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Photoacoustic Microscopy Systems Market Size and Volume Forecast by Types
     11.4.1. Hardware Devices
     11.4.2. Software System
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Photoacoustic Microscopy Systems Market Size and Volume Forecast by Applications
     11.7.1. Hospitals
     11.7.2. Diagnostic Centers
     11.7.3. Research Centers
  11.8. Basis Point Share (BPS) Analysis by Applications
  11.9. Y-o-Y Growth Projections by Applications
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Photoacoustic Microscopy Systems Demand Share Forecast, 2019-2026
12. Middle East & Africa Photoacoustic Microscopy Systems Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Photoacoustic Microscopy Systems Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Photoacoustic Microscopy Systems Market Size and Volume Forecast by Types
     12.4.1. Hardware Devices
     12.4.2. Software System
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Photoacoustic Microscopy Systems Market Size and Volume Forecast by Applications
     12.7.1. Hospitals
     12.7.2. Diagnostic Centers
     12.7.3. Research Centers
  12.8. Basis Point Share (BPS) Analysis by Applications
  12.9. Y-o-Y Growth Projections by Applications
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Photoacoustic Microscopy Systems Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Photoacoustic Microscopy Systems Market: Market Share Analysis
  13.2. Photoacoustic Microscopy Systems Distributors and Customers
  13.3. Photoacoustic Microscopy Systems Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. FUJIFILM VisualSonics Inc.
     13.4.2. EKSPLA
     13.4.3. InnoLas Laser GmbH
     13.4.4. illumiSonics Inc.
     13.4.5. Seno Medical Instruments Inc.
     13.4.6. PhotoSound Technologies Inc.
     13.4.7. TomoWave Laboratories Inc.
     13.4.8. Teem Photonics
     13.4.9. Vibronix Inc.
     13.4.10. Verasonics Inc.