Healthcare Sector Reforms to Phenomenally Enhance Global Biophotonics Market

Biophotonics refers to the combination of biology and photonics. The term constitutes the technology used for the detection of photons applied for various purposes. More explicitly, biophotonics is scientific research carried using light for detection, reflection, emission, radiation creation, absorption, and modification of cells, organisms, biomolecular, tissues, and biomaterials. Biophotonics uses microscope scales, light technology, microscopes, and lasers.

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Biophotonics is a technology that employs enhanced imaging and optical techniques for the study of tissues, cells, biomaterials and biological molecules. The use of biophotonics has helped researchers study living tissues from different perspectives, which was not possible earlier.

Widening Range of Applications to Propel Global Biophotonics Market

Globally, the biophotonics market is estimated to exhibit a progressive CAGR of 11.3% between 2014 and 2020, growing from its market value of US$28 billion in 2013. The futuristic biophotonics technology is poised to transform the healthcare sector globally. Rising geriatric population, healthcare amends, government initiatives, high incidence of chronic diseases, and integration of IT into healthcare will drive the biophotonics market phenomenally in the coming years.

Pertaining to such reasons, the global biophotonics market will play a big part in the growth of the healthcare services and medical equipment industry in the foreseeable future. Biophotonics also finds extensive application across several industry sectors such as diagnostics, agriculture, biotechnology, therapeutics, and others.

On the contrary, the global biophotonics market faces competition from a large number of innovative products developed for diversified applications, which may slow the growth of the market.

Medical Diagnostics to Lead Biophotonics End-use Segmentation in Coming Years

Globally, the biophotonics market is segmented on the basis of end users, applications, and geography. Based on end users, the market is segmented into test components, medical therapeutics, medical diagnostics, and non-medical. Of all, the medical diagnostics segment will dominate the biophotonics market, growing at a CAGR of 17.2% from 2014 to 2020.

Within the medical diagnostics end-user segment, biophotonics is used for examining tissues at macro and micro levels to diagnose diseases effectively. Biophotonics also finds application in the study of the function of molecular mechanisms, proteins, DNA, and other vital molecules.

Microscopy and Light Therapy Application Segments to Exhibit Stellar Growth

According to application, the segments of the global biophotonics market include spectro molecular, see-through imaging, light therapy, biosensors, microscopy, surface imaging, and others. Microscopy and light therapy are both expected to exhibit a CAGR of more than 15% from 2014 and 2020.

Biophotonics has applications in procedures such as optical coherence tomography, which enables minute visualization of biomaterials, new laser microscopes that enable unprecedented specifications of molecules and single tissues, and new light-activated chemicals used for welding tissues during surgical procedures.

According to the regional distribution of the market, the global biophotonics market is divided into four broad regions, namely the Middle East and Africa, North America, Europe, and Asia Pacific. In the regional segmentation, North America leads the market, boasting a total market value of US$12.5 billion in 2014, and is expected to be worth US$23.3 billion by 2020. Europe and Asia Pacific follow North America in terms of market share in the global biophotonics market.

Some of the major players in the global biophotonics market are Carl Zeiss, Olympus America, Hamamatsu Photonics, Becton, Dickinson & Co., Affymetrix Inc., and Andor Technology.

Browse the full Global Biophotonics Market report at http://www.mrrse.com/global-biophotonics-market

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