Share this article Share this article 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.