Photoacoustic Tomography Market Research Report and Outlook by 2028

The photoacoustic tomography (PAT) market is anticipated to grow significantly, reaching an estimated US$ 209.56 million by 2028, up from US$ 61.12 million in 2021. This growth represents a compound annual growth rate (CAGR) of 19.2% from 2021 to 2028.

This report outlines the prevailing trends in the market and identifies key factors contributing to its expansion. The growth of the photoacoustic tomography market is primarily driven by the increasing prevalence of cancer and the rising rates of cardiovascular diseases. However, certain limitations associated with photoacoustic tomography may hinder market progress.

Photoacoustic tomography is a sophisticated hybrid diagnostic method that utilizes laser-induced thermoelastic expansion, merging the advantages of optical and ultrasound imaging. This innovative technology employs non-ionizing radiation, making it a safer option for patients.

Early detection of cancer significantly enhances the chances of successful treatment, lowers recurrence rates, and minimizes healthcare expenses. Over recent decades, advancements in medical imaging technologies have played a crucial role in cancer diagnosis, treatment selection, and monitoring therapeutic responses. PAT stands out as a hybrid imaging technique that integrates optical contrast derived from light absorption with the exceptional spatiotemporal resolution of ultrasound imaging. This combination provides vital morphological and functional insights into early-stage cancer.

Photoacoustic tomography has demonstrated remarkable potential for imaging at the cellular and molecular levels in cancer. Its capability to deliver molecular data at clinically relevant depths with high resolution and in real-time is a significant advantage, making it a preferred diagnostic tool in clinical settings. Furthermore, PAT can be seamlessly integrated with ultrasound imaging, as both modalities share similar hardware components and signal detection processes. This integration allows for comprehensive information regarding the anatomical, functional, and molecular characteristics of affected tissues.

The effectiveness of photoacoustic tomography in cancer detection is based on the enhanced optical absorption of tumors compared to normal tissues, coupled with the low acoustic distortion and attenuation properties of biological tissues. Consequently, the accuracy of PAT in identifying cancerous tissues, along with the increasing incidence of cancer, is propelling the growth of the photoacoustic tomography market.

The market is categorized by geometry into planar, cylindrical, and spherical segments. In 2021, the planar segment dominated the market share, while the spherical segment is projected to exhibit the highest CAGR during the forecast period. Additionally, the market is divided by type into intravascular photoacoustic tomography, photoacoustic microscopy, and others. The intravascular segment held the largest market share in 2021 and is expected to maintain the highest growth rate in the coming years.

In terms of application, the market is segmented into tumor angiogenesis, blood oxygenation mapping, functional brain imaging, skin melanoma detection, methemoglobin measurement, and others. The tumor angiogenesis segment was the largest in 2021, but blood oxygenation mapping is anticipated to experience the fastest growth rate during the forecast period. The end-user segmentation includes hospitals, diagnostic imaging centers, academic and research institutions, among others. The hospital segment accounted for the largest share in 2021, while diagnostic imaging centers are expected to show the highest CAGR moving forward.

The COVID-19 pandemic had a temporary adverse impact on the growth of the photoacoustic tomography market in 2020. The pandemic affected key areas of the global economy, including manufacturing, supply chains, and financial markets. Countries such as Japan, China, South Korea, India, and Australia faced significant challenges due to high COVID-19 case numbers and related fatalities. During this crisis, healthcare providers often had to postpone or delay cancer screenings, diagnoses, and treatments, which negatively affected the demand for photoacoustic tomography.

Moreover, the global healthcare system's focus on COVID-19 led to a decline in services for other medical conditions, further impacting the photoacoustic tomography market. Lockdown measures imposed by governments resulted in reduced deployment of photoacoustic imaging systems due to decreased demand, postponed clinical trials, and widespread financial challenges. However, by 2021, the situation began to improve as patients resumed visits to hospitals and imaging centers for screenings and treatments. The relaxation of social restrictions also allowed many pre-clinical and clinical studies to restart, which is expected to boost the demand for photoacoustic tomography.

Companies in the photoacoustic tomography market are employing various organic and inorganic growth strategies. Organic strategies primarily involve product launches and approvals, while inorganic strategies include acquisitions, collaborations, and partnerships. These approaches have enabled market players to expand their operations, enhance their geographical reach, and contribute to overall market growth. Notable developments in the photoacoustic tomography sector include:

• In June 2020, FUJIFILM VisualSonics Inc., a subsidiary of FUJIFILM SonoSite, Inc., introduced the Vevo F2, the first ultrahigh-to-low-frequency ultrasound imaging system with a frequency range from 71-1 MHz.


• In December 2021, Advantest Corporation began shipping its fourth-generation high-speed image-processing engine, utilizing heterogeneous computing technology to identify defects in data output from advanced CMOS image sensors (CIS).

Key sources referenced in the preparation of this report include the National Center for Health Statistics (part of the US Department of Health & Human Services), the Centers for Disease Control and Prevention (CDC), the World Health Organization (WHO), and the Organization for Economic Co-operation and Development (OECD).