3 Key Insights on US$ 130 Bn Opportunity in the Global Biophotonics Market: Ken Research

Driven by the recent surge of nanotechnology, combined with increasing demand for home-based Point-of-Care (POC) devices, the Global Biophotonics Market is Forecasted to Cross US$ 100 Bn by 2028 says Ken Research Study.

Biophotonics is the exploration of light in conjunction with biology. It can aid surgeons in understanding how cells and tissues function. This light technique collects a sample of both diseased and healthy tissue for use in the diagnosis, treatment, and surgery. Furthermore, it has the potential to provide technical solutions for significant advances in medical diagnostics, therapeutics, and biotechnology by utilizing light absorption and reemission, as well as elastic and viscous photon scattering events in tissues or samples.

According to Ken Research estimates, the Global Biophotonics Market - which grew from around US$ 30 Bn in 2017 to nearly US$ 50 Bn in 2022 - is expected to grow further into a more than US$ 100 Bn opportunity by 2028 -

"Ken Research shares 3 key insights on this high opportunity market from its latest research study"

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1. Biophotonics has seen Accelerated Growth after Several Proactive Interventions and Rising Funding for the Diagnosis of Multiple Disorders and Diseases.

The Global Biophotonics Market is expected to witness strong growth during the forecast period, owing to increasing favorable government initiatives concerning drug development or research, along with soaring digital healthcare funding. Diagnostic biophotonics is concerned with technologies that detect disease states and monitor the efficacy of proposed treatments. Therapeutic biophotonics, on the other hand, involves altering biological processes and treating disease conditions. Furthermore, biophotonics has found widespread application in biological and clinical research with the development of advanced lasers, optics, spectroscopy, and microscopy tools.

2. The Rising Prevalence of Chronic and Neurodegenerative Diseases is Major Growth Driver for Global Biophotonics Market.

The increasing prevalence of chronic and neurodegenerative diseases, including Neurodegenerative disorders, Alzheimer's disease (AD), and Parkinson's disease (PD) due to an aging population, has led to increasing demand for improved drug development or research to effectively combat these diseases.

For instance, according to Alzheimer's Disease Association, a U.S.-based non-profit organization, presently nearly 6.2 million individuals in the U.S. have Alzheimer's disease, a progressive neurologic disorder that leads the brain to shrink and brain cells to die.
According to Parkinson's Foundation, a U.S.-based non-profit organization, nearly a million Americans have Parkinson's disease (PD), a brain disorder that leads to unrestrained movements such as wobbling, stiffness, and difficulty with balance and coordination, with the number expected to increase to 1.2 million by 2030. In addition, over 10 million people worldwide are currently affected by Parkinson's disease (PD).

3. The Complexity of Biophotonics Technology, Combined with the High Cost of Biophotonics-Based Instruments May Stifle the Market Growth.

The cost of biophotonics is higher than that of conventional instruments. They are regarded as more complex due to the integration of biological units as well as the generation, manipulation, and detection of light units, which raises their price. This will impede the growth of the biophotonics market. Furthermore, the semiconductor detector, which measures both the intensity and the energy of incident radiation, has the highest energy resolution and the clearest image tendency. Hence, biophotonics instruments with a semiconductor detector are likely to be more expensive.

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Key Topics Covered in the Report

Snapshot of Global Biophotonics Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of Global Biophotonics Market
Historic Growth of Overall Global Biophotonics Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter's 5 Forces Analysis of Global Biophotonics Industry
Overview, Product Offerings, and SWOT Analysis of Key Competitors
Covid-19 Impact on the Overall Global Biophotonics Market
Future Market Forecast and Growth Rates of the Total Global Biophotonics Market and by Segments
Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
Analysis of Global Biophotonics Market
Major Production/Supply and Consumption/Demand Hubs within Each Region
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Region

Major Companies Mentioned in the Report

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

Notable Emerging Companies Mentioned in the Report

Lumicks
Creoptix
ThnikCyte
PhotoPharmics
Impedimed
Norlase
Vivosight
Speclipse

Key Target Audience - Organizations and Entities Who Can Benefit by Subscribing This Report

Biotechnology - Therapeutics and Diagnostics Companies
Pharmaceutical Companies
Manufacturers of Diagnostic Kits and Instruments
International Agency for Research on Cancer (IARC)
Neural Regeneration Research Organizations
Research Drug Monitoring Authorities
AI Solution Providers for Drug Discovery
Medical Devices manufacturers
Government Ministries and Departments of Healthcare

Period Captured in the Report

Historical Period: 2017-2021
Forecast Period: 2022-2028F

For more insights on the market intelligence, refer to the link below: -

https://www.kenresearch.com/business-research/global-biophotonics-market-outlook-2028/

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Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.