The global photoacoustic imaging market is witnessing growth and is projected to reach USD 279.3 million by 2030. This growth can be ascribed to the increasing count of cancer cases and growing acceptance of progressive treatments throughout the world. The rising healthcare investments and rising elderly populace are some other reasons propelling the need for photoacoustic imaging systems.
The photoacoustic imaging industry is projected to experience quicker development in the software and other accessories category, based on product. This can be credited to the technical improvements that would permit the introduction of new and enhanced components for photoacoustic imaging systems.
For example, multispectral photoacoustic study contrast and application for measurement of photoacoustic imaging agents and the detection of sentinel lymph nodes is possible through software with a digital radio frequency RFMode Mode export capability.
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In recent years, pre-clinical bifurcation had a greater share in the industry for photoacoustic imaging, on the basis of application. The industry lead of this category is mainly because of the technical improvements in the field of photoacoustic imaging, armed with the growing requirement for non-invasive imaging methods for small animals that are utilized in pre-clinical studies, and increasing count of steps by public and private establishments to aid pre-clinical research.
In the past few years, the North American region dominated the market with the largest share. This development can be mainly credited to the growing occurrence of chronic illnesses, the increasing elderly populace, and rising healthcare investments.
For Example, as per the United Nations World Population Ageing 2019 statistics, in North America, there were around 59.9 million individuals’ elderly 65 years and more in 2019, and this count is estimated to surge to 80.2 million by 2030. Therefore, the huge aging populace in North America leads to a high requirement for photoacoustic imaging studies, which fuels industry development.
Hence, the increasing count of cancer cases and growing acceptance of progressive treatments throughout the world. The rising healthcare investments and rising elderly populace are some other reasons propelling the need for photoacoustic imaging systems.