Dublin, April 12, 2021 (GLOBE NEWSWIRE) -- The "Photoacoustic Imaging Market Research Report: By Product (Imaging Systems, Software and Other Accessories), Application (Pre-Clinical, Clinical), Indication (Oncology, Cardiology) - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global photoacoustic imaging market reached a valuation of $39.8 million in 2019 and is predicted to generate a revenue of $279.3 million by 2030, progressing at a CAGR of 20.3% between 2020 and 2030.
The increasing incidence of cancer and the rising popularity of advanced medical treatments around the world are the main factors fueling the growth of the market.
The surging geriatric population is another important market growth driver. As per the 2019 World Population Ageing report produced by the UN, 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 from 2019 to 2050. This will massively push up the requirement for photoacoustic imaging as the geriatric people are highly vulnerable to various diseases, on account of their low immunity levels.
The rising prevalence of chronic diseases is also driving the advancement of the photoacoustic imaging market across the world. In recent years, cancer has emerged as one of the major causes of death across the globe. According to the Global Cancer Observatory (GLOBOCAN), the disease was responsible for the deaths of as many as 9.6 million people in 2018. Furthermore, as per the World Health Organization (WHO), cardiovascular diseases (CVDs) are the primary cause of death around the world.
They are responsible for the deaths of 17.9 million people every year. Additionally, as per the Centers for Disease Control and Prevention (CDC), in the U.S., coronary heart disease is the most prevalent heart disease. In 2017, the disease claimed the lives of 365,914 people. Depending on product, the photoacoustic imaging market is divided into software and other accessories and software. Between these, the imaging systems category recorded higher growth in the market in the past years.
When application is taken into consideration, the market is divided into clinical and pre-clinical. Of these, the clinical category is predicted to register faster growth in the market in the upcoming years. This would be because of the rising incidence of cancer all over the world, the soaring geriatric population, the increasing usage of technologically advanced and innovative products in healthcare settings, and the ballooning healthcare expenditure in many countries around the world.
Hence, it can be said with surety that the market will grow substantially all over the world in the future years, primarily because of the rising incidence of cancer and the soaring geriatric population in various countries around the world.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Product
1.3.2 Market Segmentation by Application
1.3.3 Market Segmentation by Indication
1.3.4 Market Segmentation by Region
1.3.5 Analysis Period
1.3.6 Market Data Reporting Unit
1.4 Key Stakeholders
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Product
18.104.22.168 Imaging systems
22.214.171.124 Software and other accessories
4.1.2 By Application
4.1.3 By Indication
4.2 Market Dynamics
126.96.36.199 Acquisitions and mergers done for the photoacoustic imaging technique
4.2.2 Market Drivers
188.8.131.52 Surging geriatric population
184.108.40.206 Increasing incidence of chronic diseases
220.127.116.11 Technological advancements
18.104.22.168 Impact analysis of drivers on market forecast
22.214.171.124 Stringent regulations
126.96.36.199 Expensive and high maintenance cost
188.8.131.52 Impact analysis of restraints on market forecast
184.108.40.206 Increasing patient pool in emerging economies
4.3 Impact of COVID-19
4.4 Porter's Five Forces Analysis
Chapter 5. Global Market Size and Forecast
5.1 By Product
5.2 By Application
5.3 By Indication
5.4 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Competitive Landscape
11.1 Product Offerings of Key Players
11.2 Strategic Development Activities of Key Players
11.2.1 Partnerships and Collaborations
11.2.2 Product Approvals and Launches
11.2.3 Other Developments
Chapter 12. Company Profiles
FUJIFILM VisualSonics Inc.
InnoLas Laser GmbH
PhotoSound Technologies Inc.
Seno Medical Instruments Inc.
TomoWave Laboratories Inc.
iThera Medical GmbH
PA Imaging R&D B.V.
For more information about this report visit https://www.researchandmarkets.com/r/acu3uo
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