Biophotonics Market Report 2024: Strategies And Recent Developments | Thermo Fisher Scientific Inc., OpGen Inc., NU Skin Enterprises Inc., IPG Photonics Corporation, Idex Corporation, Toshiba Corporation

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Biophotonics Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The biophotonics market size has grown rapidly in recent years. It will grow from $74.36 billion in 2023 to $82.74 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to medical imaging advancements, disease diagnosis and monitoring, life sciences research, optical sensing and spectroscopy, laser and light source innovations.

The biophotonics market size is expected to see rapid growth in the next few years. It will grow to $130.07 billion in 2028 at a compound annual growth rate (CAGR) of 12.0%. The growth in the forecast period can be attributed to personalized medicine, precision agriculture, global health initiatives, wearable and mobile health devices, environmental monitoring and safety. Major trends in the forecast period include miniaturization and point-of-care devices, multimodal imaging, optogenetics, machine learning and data analytics, smart imaging probes.

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Market Segmentation:
The main product technologies in biophotonics are in-vitro and in-vivo. In vitro studies examine microorganisms, cells, and biological molecules outside of their natural biological framework. These studies in biology and its subdisciplines are generally done in labware such as test tubes, flasks, Petri dishes, and microtiter plates, and are referred to as test-tube investigations. The different applications include see-through imaging, inside imaging, spectromolecular, surface imaging, microscopy, light therapy, biosensors, and others and are used by various sectors such as diagnostics, therapeutic, tests, and others.

Major Driver - Rising Demand For Minimally Invasive Surgeries Boosts Biophotonics Market
The increasing demand for minimally invasive surgeries is contributing to the growth of the biophotonics market. Optical engineering and imaging technologies are playing a vital role in the evolving field of minimally invasive surgeries by enabling to visualize the manipulation of tissue at remote internal sites. According to a report by Intuitive Surgical, Inc., a US-based company specializing in minimally invasive care and the pioneer of robotic-assisted surgery, stated that they performed 10 million surgeries in 2021. Therefore, the surge in the number of minimally invasive surgeries annually worldwide is generating higher revenues for the biophotonics market.

Competitive Landscape:
Major companies operating in the biophotonics market include Thermo Fisher Scientific Inc., OpGen Inc., NU Skin Enterprises Inc., IPG Photonics Corporation, Idex Corporation, Toshiba Corporation, Horiba Ltd., Precision Photonics Corp, Roche Group, General Electric Company, Koninklijke Philips NV, Affymetrix Inc., Andor Technology Ltd., Becton Dickinson & Co, Carl Zeiss AG, FEI Company, Hamamatsu Photonics KK, Lumenis Ltd., Olympus Corporation, PerkinElmer Inc., Zecotek Photonics Inc., Zenalux Biomedical Inc., Glenbrook Technologies Inc., Oxford Instruments Plc, Lumicks BV, Creoptix AG, ThinkCyte Inc., PhotoPharmics Inc., Impedimed Ltd., Bioptics Inc.

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Top Trend - Advanced Biotechnology Techniques
The launch of new advanced techniques in the field of biotechnology is a major trend shaping the biophotonics market. For instance, a team of scientists at the University of St. Andrews (Scotland) developed a fluorescence microscopy technique that allows imaging of delicate biological samples with low damage in neuroscience and biomedicine. This low-damage optical technique is projected to transform the world of biomedicine in the forthcoming years. Hence, the development of new and advanced techniques is gaining significant popularity in the biophotonics market.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Biophotonics Market Characteristics
3. Biophotonics Market Trends And Strategies
4. Biophotonics Market - Macro Economic Scenario
5. Biophotonics Market Size And Growth
…..
27. Biophotonics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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