Biophotonics Market Distribution Channel | Growth Prospect Mapping | Technology Estimates

Felton, Calif., USA, Jan. 07, 2021 — /EPR Network/ —

The global Biophotonics Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

The global biophotonics market was valued at USD 34.29 billion in 2015 and is expected to reach USD 91.31 billion by 2024. The growth is primarily attributed to the advancements in nanotechnology, increasing the sophistication of medical devices and healthy demand for point-of-care treatment solutions.  Biophotonics involves the use of light energy to detect measure and manipulate the biological materials or activities.

Key Players:

• Affymetrix
• Andor Technology
• BD (Becton, Dickinson and Company)
• Carl Zeiss AG
• Olympus Corporation
• Hamamatsu Photonics K.K
• Zecotek Photonic Inc.
• Idex Corporation
• IPG Photonics
• Toshiba

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Growth Drivers:

The growing sophistication of medical research is expected to fuel further studies in this field, thereby providing avenues for market growth. Besides research, biophotonics finds application in the biotechnology, defense, therapeutic, diagnostic and agriculture sector.

In-vitro diagnostic and medical imaging is expected to be the core application areas for biophotonics. However, the increased government support for innovative and affordable therapy may provide wider application scope and is expected to impact the market growth positively. Biophotonics is anticipated to witness high penetration in point-of-care devices, owing to the potential of minute observations which may offer targeted therapy options without causing any side effects. The advancements in the biosensors coupled with rapid applications of light therapy and microscopy are also expected to contribute towards industry growth.

Biophotonics techniques are rapidly deployed in agriculture applications for testing the crops. Microfluidics and monitoring techniques are expected to dominate the agriculture sector, owing to advancements in food surveillance and testing procedures. Genetically modified crops may also provide growth opportunities due to applications of this technology in biotechnology laboratories and research centers.

End-use Outlook:

• Tests and components
• Medical therapeutics
• Medical diagnostics
• Non-medical application

Application Outlook:

• See-Through Imaging
• Microscopy
• Inside Imaging
• Spectro Molecular
• Other Analytics Sensing
• Light Therapy
• Surface Imaging
• Biosensors

Regional Outlook:

North America biophotonics market accounted for a sizeable share in 2015 owing to sound investment in R&D and the healthcare industry. Asia Pacific market is expected to witness significant growth due to rising geriatric population. Companies may eye developing countries such as Thailand and India, which are increasing their expenditure on healthcare facilities and R&D.

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