LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global photoacoustic imaging market is expected to grow at a CAGR of more than 8% during the forecast period.
This research report titled ‘Global Photoacoustic Imaging Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis classifies the global photoacoustic imaging market into the following application segments. They are:
- Pre-clinical
- Analytics
- Clinical
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Pre-clinical
Due to the launch of new drugs in the US, decrease in the prices of drugs, and high investments in finding new drugs that can cure new and rare diseases, there is a rapid growth in the global pharmaceutical market. To monitor drug efficiency, a primarily used method is photoacoustic imaging. This is generally employed before the delivery and release of drugs. This imaging technique is combined with drug delivery for the strategies that use photoacoustic contrast mediums as multiplexed drug carriers.
According to Rohan Joy Thomas, a lead analyst at Technavio for embedded systems research, “In June 2017, Verily Life Sciences, Novartis, and the European Investment Fund invested in the fund introduced by Medicxi, which is a venture capital group. The growing number of pre-clinical research and the increasing investments by contract research organizations will further fuel the growth of the pre-clinical segment during the forecast period.”
Analytics
Microscopy and flow cytometry are the analytic applications for photoacoustic imaging. Flow cytometry is a sort of cell identification and sorting technique. It is accomplished by dispersing the cells into a fluidic medium that is then passed into a sorting apparatus. The market is expected to grow during the forecast period due to the rising adoption of photoacoustic imaging for non-fluorescent nanoparticles (NPs) in biomedical applications.
“Photoacoustic imaging will be primarily used in biomedical applications for drug delivery and research that is based on natural cell pigments and chromophores. Owing to its excellent scalability, photoacoustic microscopy can overcome the optical diffusion limit. High-resolution images at the required imaging depths are obtained using this technique,” says Rohan.
Clinical
During the forecast period, the rising number of diseases and dermatological conditions are expected to contribute to the growth of the global photoacoustic imaging market. According to WHO, approximately 8.8 million people died from cancer in 2015. WHO also states that in 2020, chronic diseases will account for 75% of the deaths globally.
The necessity for clinical applications to diagnose and treat the diseases will rise due to the increase in the number of chronic diseases. One of the factors that has led to the wide acceptance of photoacoustic imaging worldwide is that it can be used in the functional and physiological evaluation of tissues.
The top vendors highlighted by Technavio’s market research analysts in this report are:
- Endra
- FUJIFILM VisualSonics
- kibero
- Prexion
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