Global Biophotonics Market Size, Share, and COVID-19 Impact Analysis, By End-User (Tests and Components, Medical Therapeutics, Medical Diagnostics, and Non- medical Application), By Application (See-Through Imaging, Inside Imaging, Spectro Molecular, Analytics Sensing, Light Therapy, Surface Imaging, and Biosensors), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030.Industry: Healthcare
Global Biophotonics Market Insights Forecasts to 2030
- The global biophotonics market was valued at USD 54 billion in 2021.
- The market is growing at a CAGR of 12% from 2022 to 2030
- The global biophotonics market is expected to reach USD 149 billion by 2030
- Asia-Pacific is expected to grow the fastest during the forecast period
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The global biophotonics market is expected to reach USD 149 billion by 2030, at a CAGR of 12% during the forecast period 2022 to 2030. The biophotonics market has grown due to the growing elderly population, increasing prevalence of chronic diseases, expanding government efforts, rising healthcare reforms, and integration of IT into healthcare applications.
Various optical technologies that enable the interaction of light or photons with different biological species, molecules, cells, and tissues are developed using biophotonics. In dentistry, photomechanics is utilized to examine the connection between macroscopic mechanical stress and strain gradients. Studying the interplay between radiated energy and matter is made easier by spectroscopy. Last but not least, chemical and physical properties can be remotely sensed using fiber optic sensors. Users that utilize machine learning techniques can detect more subtle and complicated signals as well as particles. Even though researchers have been able to capture images with extremely high content that show the locations of numerous molecules of moving particles, some of these images have very low contrast, a noisy background, and fuzzy edges, making it difficult to count the precise number of particles present in the image and necessitating manual counting.
Researchers have started employing machine learning techniques, which train the computer to recognize and identify specific particles in the image, to get rid of these complexities. The adoption of biophotonics is being accelerated by the thorough analysis and extraction of crucial information that machine learning may be able to enable. The rise of nanotechnology in biophotonics, the rising elderly population, the expanding application of biophotonics in cell and tissue diagnostics, and the creation of novel photoacoustic tomography (PAT) devices are the major drivers of market expansion.
The focus of biology research has changed from cells to viruses and cellular building blocks like proteins and nucleic acids. The analysis of these components requires instruments that function at the same size, moving the emphasis from the micro- to the nanoscale. As a result, nanotechnology is increasingly being used to image biological processes and analyze biological materials. Biomedical imaging uses nanoparticles made of iron and gold.
Global Biophotonics Market Report Coverage
|Market Size in 2021:||USD 54 billion|
|Forecast Period 2022-2030 CAGR:||12 %|
|2030 Value Projection:||USD 149 billion|
|Historical Data for:||2019-2020|
|No. of Pages:||200|
|Tables, Charts & Figures:||114|
|Segments covered:||By End User, By Application, By Region|
|Companies Covered:||Thermo Fisher Scientific NU Skin Enterprises Becton Dickinson and Company Glenbrook Technologies Hamamatsu Photonics KK Olympus Corporation Carl Zeiss AG Oxford Instruments PLC Zenalux Biomedical Inc. PerkinElmer|
|Growth Drivers:||The increasing geriatric population is expected to drive the markets growth over the forecast period.|
|Pitfalls & Challenges:||Complexity of the biophotonics technology.|
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This research report categorizes the market for global biophotonics based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global biophotonics market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each global biophotonics market sub-segments.
- In 2021, the non-medical application segment dominated the market with the largest market share of 39% and market revenue of 21.06 billion.
Based on the end-user, the global biophotonics market is categorized into Tests and Components, Medical Therapeutics, Medical Diagnostics, and Non- medical Applications. In 2021, the non-medical application segment dominated the market with the largest market share of 39% and market revenue of 21.06 billion. Because a variety of end users, including healthcare providers, instrument manufacturers, medical institutions, and research labs, have adopted it. However, due to its environmental screening and monitoring capabilities, the non-medical application is anticipated to become more popular over the forecast period. The biophotonics market is expected to be greatly driven by the increase in research on pathogens, exposures in agricultural food products, ongoing blood monitoring, and prevention of unlawful data visualization. Additionally, the study of DNA, proteins, and other significant molecules, as well as molecular pathways, makes use of biophotonics.
- In 2021, the see-through imaging electronics segment accounted for the largest share of the market, with 40% and a market revenue of 21.6 billion.
Based on the application, the biophotonics market is categorized into See-Through Imaging, Inside Imaging, Spectro Molecular, Analytics Sensing, Light Therapy, Surface Imaging, and Biosensors. In 2021, the see-through imaging segment accounted for the largest share of the market, with 40% and a market revenue of 21.6 billion. Due to the constant need for radical non-invasive surgical techniques in several medical specialties, including cardiology, neurology, brain imaging, and oncology, the see-through imaging segment held the biggest market share. Over the past ten years, there have been significant advancements in the field of transparent imaging techniques, particularly in the areas of drug development and medical diagnosis. A crucial component of biomedical research, see-through imaging has also emerged as a useful tool for in-vitro and in-vivo imaging.
Regional Segment Analysis of the Biophotonics Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
North America emerged as the largest market for the global biophotonics market, with a market share of around 37% and 54 billion of the market revenue in 2021.
- In 2021, North America emerged as the largest market for the global biophotonics market, with a market share of around 37% and 54 billion of the market revenue. Due to the booming R&D efforts, rising healthcare industry spending, and accessibility to top-notch infrastructure. In addition, the regional market of North America is anticipated to increase over the coming years as a result of the rising elderly population and the rising number of cancer patients.
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- The Asia-Pacific market is expected to grow at the fastest CAGR between 2021 and 2030, This is a result of the rapid industrialization that is occurring in nations like China, Malaysia, India, and South Korea. Furthermore, Due to expanding government efforts, improvements to healthcare facilities, and increased investment by the major industry participants, the biophotonics market in Asia Pacific is anticipated to grow over the forecast period.
The report offers the appropriate analysis of the key organizations/companies involved within the global biophotonics market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players:
- Thermo Fisher Scientific
- NU Skin Enterprises
- Dickinson and Company
- Glenbrook Technologies
- Hamamatsu Photonics KK
- Olympus Corporation
- Carl Zeiss AG
- Oxford Instruments PLC
- Zenalux Biomedical Inc.
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Some of the Key Developments:
- In March 2021, with an expenditure of USD 180 million, Zeiss opened a new research and development, production, sales, and customer support facility in the US, expanding its footprint in North America. The X-ray Microscopy business and the ZEISS Microscopy Customer Center will both be included on the new site to serve the prospects in materials research, life sciences, and industrial applications.
- In November 2021, Oxford Instruments introduced BC43, a portable microscope. The users of this equipment can access real-time 3D images.
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global biophotonics market based on the below-mentioned segments:
Global Biophotonics Market, By End-User
- Tests and Components
- Medical Therapeutics
- Medical Diagnostics
- Non-medical Application
Global Biophotonics Market, By Application
- See-Through Imaging
- Inside Imaging
- Spectro Molecular
- Analytics Sensing
- Light Therapy
- Surface Imaging
Global Biophotonics Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
Frequently Asked Questions (FAQ)
What is the market size of the Biophotonics market?As per Spherical Insights, the size of the Biophotonics market was valued at USD 54 billion in 2022 to USD 149 billion by 2030.
What is the market growth rate of the Biophotonics market?The Biophotonics market is growing at a CAGR of 12% from 2022 to 2030.
Which country dominates the Biophotonics market?North America emerged as the largest market for Biophotonics.
Who are the key players in the Biophotonics market?Key players in the Biophotonics market are Thermo Fisher Scientific, NU Skin Enterprises, Becton, Dickinson and Company, Glenbrook Technologies, Hamamatsu Photonics KK, Olympus Corporation, Carl Zeiss AG, Oxford Instruments PLC, Zenalux Biomedical Inc., and PerkinElmer.
Which factor drives the growth of the Biophotonics market?The increasing geriatric population is expected to drive the market's growth over the forecast period.
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