Global Photoacoustic Imaging Market 2017-2021
About Photoacoustic Imaging
Photoacoustic imaging is a biomedical imaging technique that uses laser-generated ultrasound. Photoacoustic imaging involves the delivery of non-ionizing laser pulses into biological tissues. These pulses are then absorbed and converted into heat, which results in a temporary thermoelastic expansion, which produces ultrasonic emissions. These ultrasonic waves are then identified by ultrasonic transducers for the formation of a 3D absorption-based image.
Technavio’s analysts forecast the global photoacoustic imaging market to grow at a CAGR of 8.09% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global photoacoustic imaging market for 2017-2021. To calculate the market size, the report considers the sales and exclude the replacement and services market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Photoacoustic Imaging Market 2017-2021
Technavio recognizes the following companies as the key players in the global photoacoustic imaging market: Endra, FUJIFILM VisualSonics, Kibero, and Prexion
Other Prominent Vendors in the market are: Canon, Echofos, EKSPLA, Esaote, Hitachi Medical, illumiSonics, InnoLas Laser, Micro Photo Acoustics, PA Imaging, Seno Medical Instruments, TomoWave, and VibroniX.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Enhancement of healthcare facilities. The healthcare facilities, which include diagnostics and clinic- and hospital-based services, are getting advanced. The healthcare sector is shifting from a supply-based system to a demand-based system. With this shift, the global healthcare spending is also increasing, and it is expected to reach 9.05 trillion by 2021, growing at a CAGR of 4.40% during the forecast period. The awareness of advanced healthcare facilities among patients and the users of these facilities is encouraging the service providers to equip themselves with advanced labs, patient wards, and medical imaging techniques such as photoacoustic imaging.”
According to the report, one of the major drivers for this market is Increase in the number of non-communicable diseases. The number of chronic diseases is increasing worldwide due to several unhealthy habits, such as smoking and alcohol consumption, and the lack of exercise. These illnesses are increasing the number of patients in the healthcare facilities. Owing to a sedentary lifestyle, an unbalanced diet, and urbanization, the number of people with diabetes is rising significantly. In 2012, more than 20 million Americans had diabetes. According to WHO, the number of people suffering from diabetes grew from 108 million in 1980 to 422 million in 2014, globally.
Further, the report states that one of the major factors hindering the growth of this market is High investment, equipment, and installation costs. The cost of photoacoustic imaging systems is high. Moreover, the investments involved in the laboratory setup and the additional renovation costs of medical facilities will hinder the growth of the global photoacoustic imaging market. The hospital and clinic infrastructure in countries such South Africa and Mexico is still in the developing stage, and high investments are required to set up imaging modalities in such facilities. The cost involved in setting up an integrated operating room with photoacoustic imaging systems and other medical imaging systems is around $4 million. Moreover, the configuration of such systems is complex, which increases the price of the systems.
Endra, FUJIFILM VisualSonics, Kibero, Prexion, Canon, Echofos, EKSPLA, Esaote, Hitachi Medical, illumiSonics, InnoLas Laser, Micro Photo Acoustics, PA Imaging, Seno Medical Instruments, TomoWave, and VibroniX.
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