Photoacoustic microscope Market Forecast and CAGR
According to latest research by Fact.MR, photoacoustic microscope market is set to witness steady growth during 2021-2031. Demand for photoacoustic microscope will witness steady recovery in short-term, with optimistic growth outlook in the long-run. Advancing medical science across globe and increasing spending on medical research is likely to propel the photoacoustic microscope market.
What is Driving Demand for Photoacoustic microscope?
Photoacoustic microscopy (PAM) uses photoacoustic effect to detect optical contrast. It is an advanced hybrid imaging technique which uses pale acoustic scattering of tissues and further breaks through the limit of optical diffusion.
This technique provides it an advantage over conventional pure optical microscopes. The devices have excellent scalability, allowing them to deliver high-resolution images at desired maximum imaging depths of a few millimeters.
These state-of-the-art machine have various advantages over optical coherence tomography and confocal microscopy which is based on backscattering method. Alternate to scattering contrast, photoacoustic microscopy provides absorption contrast.
The target machine is capable to image more molecules whether exogenous or endogenous at the provided absorbing wavelength. Thus these capabilities provide them an edge over fluorescence based machines such as multi-photon microscopy, confocal and wide-field. These advantages are likely to increase its market share over the forecasted period.
Furthermore, the engineers have focused on developing few more technologies which adds great profitability for its business.
One of the important aspects include its simultaneous imaging competence of metabolic contrast in vivo, anatomical, flow dynamic, functional and molecular. The machine have been a great advantage to the biomedicine field with its state-of-the-art developments.
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Geographical Outlook of Global Photoacoustic microscope Market
The photoacoustic microscopy end use covers six prominent regions: North America, Latin America, Europe, East Asia, South East Asia & Oceania, and MEA.
North America and Europe are two possible leaders in terms of large scale usability of these machines in their various end use facilities. Its early high scale research & development programs and early technological adoption are probable factors for the leap.
In addition, its strong position in pharmaceutical and chemical industry is likely to provide them great opportunities in future growth. Their developed medical science facilities are prominent factor for photoacoustic microscopy system deployments.
In terms of sales, Asia is expected to be the next lucrative market. Countries like China, India, Japan, and South Korea are excelling in medical science. Over the years, the region have experienced surge in medical infrastructure and high investment in medical research.
Above mentioned prominent countries are witnessing surge in medical tourism which is likely to make the region more accessible to world for low cost medical treatment. Thus these positive outlooks are likely to take Asia photoacoustic microscope business northwards.
Medical infrastructure and spending is low in African and few Middle East countries as compared to rest of the world. Though from last few decade with the help of United Nations, World Health Organization and various other NGO’s the region is experiencing increase in aid and investments.
On other hand GCC countries, Turkey, Israel etc. are making balance in the region for the product sales. MEA region is expected to gain momentum during forecast period with moderate rate.
COVID-19 Impact Outlook for Photoacoustic microscope Market
COVID-19 pandemic lockdown imposed restrictions on movements of both man and material across many business verticals. Various industries were hit hard and medical research labs and institutions were no different.
To combat the pandemic, governments all over the world imposed lockdown, medical labs and research institutes other than COVID-19 facilities were closed for few months.
This reduced the demand in the market for a shorter period. Similarly, the raw material supply was disrupted by the closure of production plants, and there was a significant gap in the demand supply chain.
However, the lockdown guidelines were transient and is anticipated to diminish in near future. The labs, research institutes and manufacturing units are expected to run with full swing in near future and sales of the target product is likely to be on track.
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Segmental Analysis for Photoacoustic microscope Market
Photoacoustic microscopy has been able to achieve spatial resolution which range from sub-micrometer to sub-millimeter at maximum imaging depths, range from few hundred micrometers to a few millimeters.
Various type of photoacoustic machines which manufacturers provide are multi-scale confocal acoustic resolution PAM, they operate in two different hertz which are 5 - MHz and 50 – MHz. Other ones are Optical Resolution PAM system (OR-PAM), Acoustic-Resolution Photoacoustic Microscopy (AR-PAM) and Photoacoustic Endoscopy (PAE).
The optical focusing of OR-PAM is much sharper than acoustic focusing and in AR-PAM acoustic focusing is much sharper. On other hand photoacoustic endoscopy is a variant of PAM which is for internal organ imaging and it is based on rotational scanning method. The scalability of PAM can be measured while looking for optical and acoustic focusing.
Under optical diffusion limit consideration OR-PAM has advantage over AR-PAM in terms of spatial resolution. This is because it is easy to focus an optical beam on much tighter spot comparing to acoustic detection, owing to its shorter optical wavelength. But if we consider beyond optical diffusion limit, because of its weaker acoustic scattering advantage AR-PAM is likely to achieve better focus.
The machine capabilities can be tested on various standards such as Multi-Scale PAM which constitutes of lateral and axial resolution, maximum imaging depth and detection sensitivity.
Similarly, other parameters on which it can be classified are PAM imaging speed, Multi-contrast and Multi-parameter PAM. Photoacoustic microscope finds its application in various biomedicine field and research institutes whose further developments is likely to increase sales of the target machine in near future.
Who are the Key Manufacturers and Suppliers of Photoacoustic microscope?
Some of the leading manufacturers and suppliers of photoacoustic microscope include
- ENDRA Life Sciences Inc.
- FUJIFILM Visualsonics Inc.
- Kibero, EKSPLA
- Seno Medical Instruments
- InnoLas Laser GmbH
- illumiSonics Inc.
- Japan Science
- Technology Agency
The demand for photoacoustic microscope is partly fragmented across key regions. Manufacturers in the industry are focusing on latest imaging technology and partnering with various government and preclinical and human studies institutes to develop long-term relationships in order to gain a sales.
An Adaptive Approach to Modern-day Research Needs
Photoacoustic Microscope Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
- multi-scale confocal acoustic-resolution PAM
- 5 – MHz
- 50 - MHz
- Optical Resolution PAM System (OR-PAM)
- Acoustic-Resolution Photoacoustic Microscopy (AR-PAM)
- photoacoustic endoscopy (PAE)
- multi-scale confocal acoustic-resolution PAM
By End Use
- Research Institutes
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia
- India, Thailand, Malaysia, Indonesia and Rest of South Asia
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
- North America
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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