Biophotonics Market would rocket up to USD 888.82 billion by 2029, to undergo a CAGR of 3.47%, size, share, trends

The science of creating and utilizing light to detect, visualize and modify the biological constituents is known as biophotonics. Mainly it uses light and other radiant energy to understand the inner functioning of tissues and cells in living organisms. Biophotonics is used in biology to study molecular functions, processes and structures. In medicine, it is used to study light-tissue interactions with nano, micro and macro-organism level to diagnose, detect and treat diseases. Moreover, it helps in modification, emission, detection, absorption, reflection and generation of radiation from bimolecular, organisms, cells, tissues and biomaterials.

Data Bridge Market Research analyses that the biophotonics market is expected to undergo a CAGR of 3.47% during the forecast period. This indicates that the market value, which was USD 676.55 billion in 2021, would rocket up to USD 888.82 billion by 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

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Market Definition

The term bio photonic is the combination of biology and photonics, with photonics being the science and technology of manipulating, generating and detecting photons, which is the quantum units of light. Photonics is related to photons and electronics. Photons play a vital role in information technologies, such as fiber optics, the way electrons do in electronics.

Opportunities

Technological advancement

Increasing cases of several chronic diseases overall the globe such as cancers, arthritis, genetic disorders etc. There are nearly 7000 rare diseases which are prevalent across the world. Out of this more than 95% of rare disorders don't get FDA-approved drugs. Biophotonics is the most advanced technology aiming to deliver better treatment solutions for these critical diseases. Therefore, the rising application of biphotonic-based treatment solutions are expected to drive the market's growth rate during the forecast period.

Recent Development

In March 2021, Zeiss prolonged its presence by introducing new research and development, sales, production and customer service center with an investment of USD 180 million in the United States. This new site will incorporate with the ZEISS Microscopy Customer Center and the X-ray Microscopy business to deliver support for the opportunities in materials research, life sciences, and industrial applications.
In November 2021, Oxford Instruments launched BC43, a compact microscopy device. This device can offer real-time 3D imaging to the users.
Global Biophotonics Market Scope

The biophotonics market is segmented on the basis of technology, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Technology

Surface Imaging
Inside Imaging
See-through Imaging
Microscopy
Biosensors
Medical Lasers
Spectromolecular
Others

End User

Medical Diagnostics
Medical Therapeutic
Tests & Components,
Nonmedical Application

Application

See-through Imaging
Inside Imaging, Spectro Molecular
Surface Imaging
Microscopy
Light Therapy
Analytical Sensing
Biosensors
Biophotonics Market Regional Analysis/Insights

The biophotonics market is analysed and market size insights and trends are provided by country, technology, application and end-user as referenced above.

The countries covered in the biophotonics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the biophotonics market during the forecast period 2022-2029 due to the growing number of cancer patients and increasing demand for non-medical applications such as in the field of food security

Asia-Pacific will continue to project the highest compound annual growth rate for this period due to the rising elderly population and growing healthcare expenditure in this region .

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

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COMPETITIVE LANDSCAPE AND BIOPHOTONICS MARKET SHARE ANALYSIS

The biophotonics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to biophotonics market.

Some of the major players operating in the biophotonics market are:

Thermo Fisher Scientific Inc. (U.S.)
Oxford Instruments (U.K.)
BD (U.S.)
ZEISS International (Germany)
Hamamatsu Photonics K.K. (Japan)
Lumenis Be Ltd. (Israel)
Olympus Corporation (Japan)
PerkinElmer, Inc. (U.S.)
Zecotek Photonics Inc. (Canada)
Glenbrook Technologies (U.S.)
Zenalux Biomedical Inc. (U.S.)

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