SEATTLE, July 30, 2021, (MEDGADGET) — Global biophotonics market
Overview
Biophotonics is a field of science concerned with producing and using photons of light to generate images, classify biological materials, and engineer them. Lasers, biotechnology, nanotechnology, and photonics are the four main developments that makeup biophotonics. It has a medicinal application for the healthcare industry that has light experiences with medicine and life science.
The global biophotonics market was estimated at US$ 49.0 billion in 2018 and is expected to hit US$ 95.0 billion by 2025, rising at an annual rate of 8.3 percent (2019 to 2027).
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Drivers
The demand for the global biophotonics market is expected to expand due to rising awareness of improved healthcare options and increased government efforts to deliver advantageous policies to improve the healthcare and agriculture sectors. Furthermore, the increased introduction of experimental biophotonic treatments is expected to boost business demand. Kleresca, a medical technology firm, announced the introduction of a new rosacea procedure in August 2018. It is based on Kleresca’s proprietary biophotonic technology, which uses fluorescent light energy to activate the skin’s own repair mechanisms using photobiomodulation.
Over the forecast period, the growing number of partnerships among major players for the development of advanced biophotonic technology is expected to fuel market growth. The Salk Institute’s Waitt Advanced Biophotonics Center and ZEISS announced a global collaboration in June 2017 to advance the frontiers of microscopy and imaging technology. This collaboration was established with the aim of developing cutting-edge optical and optoelectronic technologies. As a result, business development is expected to be boosted by the number of partnerships for developing advanced imaging technologies using biophotonics.
In terms of sales, North America led the global biophotonics market in 2018, with a 39.2 percent market share, followed by Europe and the Middle East and Africa, respectively.
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Restraints
Since most drugs are now proprietary, only a few players have the ability to benefit from medicinal solutions. Patents and regulatory regulations are key factors that will affect the business development of biophotonics. Over the forecast period, this is expected to stifle demand expansion. Furthermore, biophotonics is still in its infancy, and a lack of understanding of these emerging technologies in developing countries is likely to stymie business development.
Business development is likely to be limited by the high cost of biophotonics equipment and treatments. When compared to its alternatives, biophotonics instruments are very expensive. Many small and medium-sized businesses, as well as end-users, stop using biophotonics instruments due to their high cost. The use of biophotonic technologies is likely to be limited as a result of this. Therefore, the high cost of biophotonic is expected to limit the market’s expansion.
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Opportunities
Arthritis, hereditary abnormalities, tumors, and other debilitating illnesses are on the rise all over the world. There are over 7000 rare diseases that affect people all over the world. More than 95 percent of rare diseases do not have FDA-approved treatments. Biophotonics, as the most modern technique, seeks to provide improved therapeutic options for these life-threatening diseases. As a result, the increasing use of biphotonic-based treatment options for treating a variety of chronic diseases is expected to provide the market with a significant growth opportunity over the forecast period.
Emerging medical tourism in developed countries is the next big thing, and it’s expected to expand significantly within the next few years. With its new technology, biophotonics has the potential to expand medical tourism in the near future. Furthermore, advanced biophotonic technology is expected to open new doors of opportunities for new entrants in the market to produce high profits. Over the forecast period, this factor is also expected to drive market growth.
Market Trends
Over the forecast period, the growing trend of miniature technologies to treat multiple chronic diseases is expected to accelerate market growth. In medicine, whole instruments that use fluorescent light to assess the behavior of cells, molecules, and fibers are used. However, with the introduction of biophotonics-on-chip, miniaturized models of those same big devices are now possible. As a result, during the forecast period, the growing trend of a miniature of biophotonic technology is expected to propel market growth.
Over the forecast period, rising initiatives by numerous manufacturers to support biophotonic technology in imaging diagnostic solutions are expected to accelerate market growth. Using its latest femtosecond fiber laser technologies and its latest handheld microscope, ALPhANOV extended its internal study in the area of biophotonic imaging for diagnosis and therapy in 2019. The first nonlinear images generated by ALPhANOV were on biological samples.
The global biophotonics market is divided into see through imaging, within imaging, spectro molecular, surface imaging, microscopy, light therapy, biosensors, and other analytic sensing segments based on use. In 2018, see-through imaging had a significant share of the overall biophotonics market, accounting for 27.4 percent.
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Competitive Landscape
Major companies operating in the global biophotonics market include Olympus America, Dickinson & Co., Affymetrix Inc., Hamamatsu Photonics, Carl Zeiss, Becton, and Andor Technology.
Key Development
The Waitt Advanced Biophotonics Center at The Salk Institute and ZEISS declared a global collaboration in June 2017 to push the boundaries of microscopy and imaging technology.
Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By End Use
- Market Snippet, By Application
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Supply Side Drivers
- Demand Side Drivers
- Economic Drivers
- Restraints
- Market Opportunities
- Key Industry Trends
- PEST Analysis
- Merger & Acquisition Scenario
- Key developments
- Drivers
- Market Dynamics
- Global Biophotonics Market, By End Use, 2017 – 2027 (US$ Mn)
- Introduction
- Market Share Analysis, 2018 and 2027 (%)
- Y-o-Y Growth Analysis, 2019 – 2027
- Segment Trends
- Medical Diagnostics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Medical Therapeutics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Test Components
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Non-Medical Applications
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Introduction
- Global Biophotonics Market, By Application, 2017 – 2027 (US$ Mn)
- Introduction
- Market Share Analysis, 2018 and 2027 (%)
- Y-o-Y Growth Analysis, 2019 – 2027
- Segment Trends
- See-Through Imaging
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Inside Imaging
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Spectro Molecular
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Surface Imaging
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Microscopy
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Light Therapy
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Biosensors
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Other Analytic Sensing
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Introduction
- Global Biophotonics Market, By Region, 2017 – 2027 (US$ Mn)
- Introduction
- Market Share Analysis, By Region, 2018 and 2027 (%)
- Y-o-Y Growth Analysis, For Region, 2019 – 2027
- North America
- Market Share Analysis, By Country, 2018 and 2027 (%)
- Y-o-Y Growth Analysis, By Country, 2019 – 2027
- The U.S.
- Country Trends
- Market Size and Forecast, By End Use, 2017 – 2027 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2027 (US$ Mn)
- Canada
- Country Trends
- Market Size and Forecast, By End Use, 2017 – 2027 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2027 (US$ Mn)
- The U.S.
- Latin America
- Market Share Analysis, By Country, 2018 and 2027 (%)
- Y-o-Y Growth Analysis, By Country, 2019 – 2027
- Brazil
- Country Trends
- Market Size and Forecast, By End Use, 2017 – 2027 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2027 (US$ Mn)
- Mexico
- Country Trends
- Market Size and Forecast, By End Use, 2017 – 2027 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2027 (US$ Mn)
- Argentina
- Country Trends
- Market Size and Forecast, By End Use, 2017 – 2027 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2027 (US$ Mn)
- Rest of Latin America
- Country/Region Trends
- Market Size and Forecast, By End Use, 2017 – 2027 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2027 (US$ Mn)
- Brazil
- Europe
- Market Share Analysis, By Country, 2018 and 2027 (%)
- Y-o-Y Growth Analysis, By Country, 2019 – 2027
- The U.K.
- Country Trends
- Market Size and Forecast, By End Use, 2017 – 2027 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2027 (US$ Mn)
- Germany
- Country Trends
- Market Size and Forecast, By End Use, 2017 – 2027 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2027 (US$ Mn)
- France
- Country Trends
- Market Size and Forecast, By End Use, 2017 – 2027 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2027 (US$ Mn)
- Italy
- Country Trends
- Market Size and Forecast, By End Use, 2017 – 2027 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2027 (US$ Mn)
- Spain
- Country Trends
- Market Size and Forecast, By End Use, 2017 – 2027 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2027 (US$ Mn)
- Russia
- Country Trends
- Market Size and Forecast, By End Use, 2017 – 2027 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2027 (US$ Mn)
- Netherlands
- Country Trends
- Market Size and Forecast, By End Use, 2017 – 2027 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2027 (US$ Mn)
- Rest of Europe
- Country Trends
- Market Size and Forecast, By End Use, 2017 – 2027 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2027 (US$ Mn)
- The U.K.
- Asia Pacific
- Market Share Analysis, By Country, 2018 and 2027 (%)
- Y-o-Y Growth Analysis, By Country, 2019 – 2027
- China
- Country Trends
- Market Size and Forecast, By End Use, 2017 – 2027 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2027 (US$ Mn)
- India
- Country Trends
- Market Size and Forecast, By End Use, 2017 – 2027 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2027 (US$ Mn)
- Japan
- Country Trends
- Market Size and Forecast, By End Use, 2017 – 2027 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2027 (US$ Mn)
- ASEAN
- Country Trends
- Market Size and Forecast, By End Use, 2017 – 2027 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2027 (US$ Mn)
- South Korea
- Country Trends
- Market Size and Forecast, By End Use, 2017 – 2027 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2027 (US$ Mn)
- Australia
- Country Trends
- Market Size and Forecast, By End Use, 2017 – 2027 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2027 (US$ Mn)
- Rest of Asia Pacific
- Country/Region Trends
- Market Size and Forecast, By End Use, 2017 – 2027 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2027 (US$ Mn)
- China
- Middle East & Africa
- Market Share Analysis, By Sub-region, 2018 and 2027 (%)
- Y-o-Y Growth Analysis, By Sub-region, 2019 – 2027
- GCC
- Country/Region Trends
- Market Size and Forecast, By End Use, 2017 – 2027 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2027 (US$ Mn)
- Israel
- Country/Region Trends
- Market Size and Forecast, By End Use, 2017 – 2027 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2027 (US$ Mn)
- North Africa
- Country/Region Trends
- Market Size and Forecast, By End Use, 2017 – 2027 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2027 (US$ Mn)
- Central Africa
- Country/Region Trends
- Market Size and Forecast, By End Use, 2017 – 2027 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2027 (US$ Mn)
- South Africa
- Country/Region Trends
- Market Size and Forecast, By End Use, 2017 – 2027 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2027 (US$ Mn)
- Rest of the Middle East & Africa
- Country/Region Trends
- Market Size and Forecast, By End Use, 2017 – 2027 (US$ Mn)
- Market Size and Forecast, By Application, 2017 – 2027 (US$ Mn)
- GCC
- Introduction
- Competitive Landscape
- Heat Map Analysis
- Market Share Analysis
- Company Profiles
- Analyst Views
- Section
- References
- Research Methodology
- About us and Sales Contact
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