Biophotonics is the science of generating and harnessing light to image, detect and manipulate biological materials. Biophotonics uses light and other forms of radiant energy to understand the inner workings of cells and tissues in living organisms. In biology, biophotonics is utilized to probe for molecular mechanisms, functions and structures. In medicine, it is used to study light-tissue interaction mechanisms at the micro/nano and macro organism level to detect, diagnose and treat diseases. Biophotonics helps in emission, detection, absorption, reflection, modification, and creation of radiation from bimolecular, cells, tissues, organisms and biomaterials.
The biophotonics market is expected to register substantial growth in the near future, attributed to emergence of nanotechnology. Moreover, increasing technological advancement and R&D activity in optical technologies across telecom & information technology sectors are the drivers of biophotonics market. However, factors like high price concern of biophotonics and complexity associated with biophotonics technology are the restraints of biophotonics market. The use of biophotonics in non-medical sectors is the opportunity for the biophotonics market.
Key market player included in this report are Affymetrix Inc., Andor Technology Ltd., Carl Zeiss AG, Becton Dickinson and Company, FEI Company, Hamamatsu Photonics K.K., Lumenis Ltd., Olympus Corporation, PerkinElmer Inc., and Zecotek Photonics Inc.
The biophotonics market is expected to register substantial growth in the near future, attributed to emergence of nanotechnology. Moreover, increasing technological advancement and R&D activity in optical technologies across telecom & information technology sectors are the drivers of biophotonics market. However, factors like high price concern of biophotonics and complexity associated with biophotonics technology are the restraints of biophotonics market. The use of biophotonics in non-medical sectors is the opportunity for the biophotonics market.
Key market player included in this report are Affymetrix Inc., Andor Technology Ltd., Carl Zeiss AG, Becton Dickinson and Company, FEI Company, Hamamatsu Photonics K.K., Lumenis Ltd., Olympus Corporation, PerkinElmer Inc., and Zecotek Photonics Inc.
Key Benefits For Stakeholders
- This report provides an extensive analysis of the current and emerging market trends and dynamics in the world biophotonics market
- Competitive intelligence (of leading manufacturers and distributors of biophotonics) helps in understanding the competitive scenario across the geographies
- This report entails the detailed quantitative analysis of the current market and estimations through 2020-2030, which assists in identifying the prevailing market opportunities
- Recent developments, key manufacturers, their market shares, and upcoming products have been listed
- Exhaustive analysis of the world biophotonics market By Type, which helps in clear understanding market trends
- Comprehensive analysis of all regions is provided that determines the prevailing opportunities in these geographies
- The report provides micro level analysis for various segments based on Applications, end-user and geography, which brings a crystal clear picture of the market
By End User
- Medical Diagnostics
- Medical Therapeutic
- Tests & Components
- Nonmedical Application
By Application
- See-through Imaging
- Inside Imaging
- Spectro Molecular
- Surface Imaging
- Microscopy
- Light Therapy
- Analytical Sensing
- Biosensors
By Region
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Landscape
Chapter 4: Biophotonics Market, by End-user
Chapter 5: Biophotonics Market, by Applications
Chapter 6: Biophotonics Market, by Region
Chapter 7: Company Profiles
List of Tables
List of Figures
Executive Summary
According to a new report titled, “Biophotonics Market by End User and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030” The global biophotonics market size was valued at $52.17 billion in 2020, and is projected to reach $133.90 billion by 2030, growing at a CAGR of 10.50% from 2021 to 2030.. The North America region is expected to be the leading contributor to the global market during the forecast period, followed by Europe and Asia-Pacific.Biophotonics is a technology used to generate and utilize light to visualize, detect, and modify biological components. The global biophotonics market is driven by emergence of nanotechnology, development in biosensors, adoption of biophotonic scanner and availability of funds for R&D. However, high price of biophotonics-based instruments due to complexity of this technology restrains the growth of the market.
The use of biophotonics is increasing in non-medical applications such as life science, agriculture, environmental science and microscopy, which is a major opportunity for the biophotonics market. Modern optical microscopes are developed in life science using biophotonics technology, which uses visible light to examine cells down to their molecular components and even provide time-lapse high-resolution images of living organisms.
Technological advancements in the field of diagnostics, rise in incidences of chronic diseases, and increase in healthcare awareness are the key factors that contribute to the growth of the market. Moreover, owing to increase in geriatric population and surge in the role and importance of medical diagnostics drives the market growth.
The prominent factors that impact the market Trends are emergence of nanotechnology leads to the development of biophotonics, development in biosensors, and availability of funds for R&D. However, high price of biophotonic-based instruments restricts the market growth. On the contrary, use of biophotonics in non-medical sectors is expected to create lucrative opportunities for the market. Therefore, these factors are expected to affect global Biophotonics market Size during the forecast period.
Region wise, the biophotonics market trends and biophotonics market growth are analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America is the most dominating market for biophotonics due to the growing initiative from the government and medical industry. The overall biophotonics market analysis and biophotonics market share is determined to understand the profitable trends to gain a stronger foothold.
COVID-19 Impact Analysis
COVID-19 have a huge impact on both consumer as well as the economy. The states of emergency declared around the globe, the photonics market is starting to feel the impacts of the virus and global supply chains are beginning to slow, and prominent trade shows are beginning to realize widespread cancellations and dropouts amid concern about the viral disease.
The lack of business continuity has ensured significant negative impacts on revenue and shareholder returns, which are expected to create financial disruptions in the biophotonics industry.
Moreover, the outbreak of corona virus constrained governments across the globe to force lockdown initiatives that reduced the sales and production revenue, which in turn disrupted the worldwide economy at a significant extent. Therefore, the biophotonics market size is anticipated to gain momentum by the end of 2022.
Key Findings Of The Study
- In 2020, the medical diagnostics segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 1010% during the forecast period
- The non-medical application segment witness highest growth rate during the forecast period
- Germany was the major shareholder in the Europe transfer switches market revenue, accounting for approximately 20% share in 2020
- The key players profiled in the report include Thermo Fisher Scientific Inc., Oxford Technologies, Carl Zeiss AG, Becton Dickinson and Company, Glenbrook Technologies Inc., Hamamatsu Photonics K.K., Lumenis Ltd., Olympus Corporation, PerkinElmer Inc., and Zenalux Biomedical Inc These players have adopted various strategies, such as product development, and product launch, and acquisition to expand their foothold in biophotonics industry
Companies Mentioned
- Thermo Fisher Scientific Inc.
- Oxford Technologies
- Carl Zeiss AG
- Glenbrook Technologies Inc.
- Becton, Dickinson and Company
- Hamamatsu Photonics K.K.
- Lumenis Ltd.
- Olympus Corporation
- PerkinElmer Inc.
- Zenalux Biomedical Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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