Global Biophotonics Market Report to 2028: Featuring Affymetrix, Andor Technology, BD, Carl Zeiss and Olympus Among Others

DUBLIN, March 23, 2023 /PRNewswire/ -- The "Global Biophotonics Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Technology, End User, Application, and Regions" report has been added to  ResearchAndMarkets.com's offering.

According to this analysis, the Global Biophotonics Market was valued at ~US$ 30 billion in 2017. Furthermore, owing to the development in biosensors and increased use of biophotonics in the nonmedical sector, it is estimated to be ~US$ 50 billion in 2022 and is expected to reach a market size of ~US$ 100 billion by 2028 growing with a CAGR of ~12% during 2022 to 2028.

Key Players

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

Biophotonics is the study of optical processes in biological systems, both those that occur naturally and in bioengineered materials. A particularly important aspect of this field is imaging and sensing cells and tissue. This includes injecting fluorescent markers into a biological system to track cell dynamics and drug delivery. Furthermore, biophotonics has many applications in the fields of medicine, genetics, biology, agriculture and environmental science.

The recent surge of nanotechnology, combined with increasing demand for home-based Point-of-Care (POC) devices, is expected to drive market growth in the coming years.

Advances in optical technologies in the aerospace and telecommunications sectors, combined with the availability of private and government funds for R&D, are also expected to boost the market growth.

The complexity of biophotonics technology, combined with the high cost of biophotonics-based instruments, may stifle market growth.

The ongoing COVID-19 pandemic has hampered biophotonics market growth by disrupting hospital care for non-COVID-19 patients in hospitals and other end-user facilities across countries.

Scope of the Report

The Global Biophotonics Market is segmented by technology, end-user, and application. In addition, the report also covers market size and forecasts for the four major regions in the stem cell banking Market. The revenue used to size and forecast the market for each segment is US$ billion.

By Technology

• In-Vivo
• In-Vitro

By End User

• Tests and Components
• Medical Therapeutics
• Medical Diagnostics
• Non-Medical Application

By Application

• Surface Imaging
• Inside Imaging
• See-through Imaging
• Microscopy
• Bio Sensors
• Analytical Sensing
• Spectromolecular
• Others

By Region

• North America (USA, Canada, and Mexico)
• Europe (France, Italy, Germany, Spain, UK, and Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, and Rest of Asia Pacific)
• LAMEA (Latin America, Middle East, and Africa)

Key Trends by Market Segment

By Technology: The In-Vitro segment held the largest market share of the global biophotonics market in 2021

In-Vitro basically used studying cells in culture or methods of testing the antibiotic sensitivity of bacteria

Furthermore, in-vitro optical imaging is being conducted in a variety of medical applications, such as optical breast cancer imaging, functional brain imaging, endoscopy, exercise medicine, and monitoring the photodynamic therapy and progress of neoadjuvant chemotherapy.

By End-User: The Medical Diagnostics segment held the largest market share of the global biophotonics market in 2021.

Diagnostic biophotonics is used to detect diseases in their initial stages before actual medical symptoms occur in patients.

Furthermore, they provide several advantages of sensing and imaging at the molecular level and also collect multidimensional data for evaluation.

By Application: The Analytical Sensing segment held the largest market share of the global biophotonics market in 2021.

It is a two-part analytic device that consists of two major components: a (bio) chemical microzone (recognition element) that comes into contact with the sample and is closely associated (connected or integrated) with an optical, electric, thermal, mass, or acoustic transducer for converting the recognition pattern into a (usually electric or optical) primary signal that can be amplified and measured by a detector (instrument).

Furthermore, they typically respond to the presence and/or concentration (activity) of an analyte species.

By Geography: North America accounts for the largest share among all regions within the Global Biophotonics market.

Rapid advancements in the development and adoption of digital health technologies (DHT) across North America, notably in the United States, are one of the major contributing factors to the growth of biophotonics.

Increasing regional government initiatives and strategies, favorable healthcare infrastructure, increased investment in R&D activities to develop the industry, and regulatory science activities across the healthcare industry are also propelling the biophotonics market growth in North America.

For more information about this report visit https://www.researchandmarkets.com/r/ndg7fd

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