According to IMARC Group’s latest report, titled “Biophotonics Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global biophotonics market reached a value of US$ 56.5 Billion in 2020. Looking forward, the market is expected to grow at a CAGR of 10.3% during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Biophotonics is an emerging multidisciplinary research field that uses light-based technologies to study life sciences and medicine. It involves the production and utilization of photons or light to detect and analyze biological materials. Biophotonics primarily uses several techniques, such as spectroscopy, fiber optic sensors, and photo-mechanics. These techniques are integrated with molecular spectroscopy, microscopy, see-through imaging, inside imaging, analytical sensing, and biosensing solutions to study the structure and function of cells and tissue at the microscopic and nanoscopic levels. As a result, biophotonics is widely adopted in the fields of life science, agriculture, environmental science, dentistry, and medicine.
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Market Trends
The increasing prevalence of chronic ailments, along with the widespread adoption of biophotonics for disease diagnostics, is primarily driving the market growth. Furthermore, the growing geriatric population, who are more susceptible to serious medical conditions, is also propelling the demand for biophotonics. Moreover, the rising utilization of biophotonics across the non-medical sectors for testing chemicals, toxins, and microbial materials for environmental monitoring and defense applications is further catalyzing the market. Additionally, several technological advancements have led to the emergence of nanotechnology and novel photoacoustic tomography (PAT) systems that use gold and silica nanoparticles for biomedical imaging and accurate sensing of cancerous cells in the patients. All of the above-mentioned factors will continue to drive the global market for biophotonics in the coming years.
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List of Key Companies Covered in this Market Report:
- Andor Technology Ltd. (Oxford Instruments Plc)
- BD (Becton, Dickinson and Company)
- Carl Zeiss AG (Carl-Zeiss-Stiftung)
- Glenbrook Technologies Inc.
- Hamamatsu Photonics K.K Lumenis Ltd.
- Olympus Corporation
- Perkinelmer Inc.
- Thermo Fisher Scientific Inc.
- Zecotek Photonics Inc.
The report has segmented the market on the basis of technique, technology, application and geography.
Breakup by Technique:
- Surface Imaging
- Molecular Spectroscopy
- Microscopy
- Light Therapy
- Biosensors
- Inside Imaging
- See-through Imaging
- Others
Breakup by Technology:
- In-Vitro
- In-Vivo
Breakup by Application:
- Medical Diagnostics
- Medical Therapeutics
- Material Testing
- Others
Breakup by Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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