Biophotonics Market Size to Reach USD 118.89 Billion in 2027; Rapid Advancement in Nanotechnology, Increasing Demand for Home-based Poc Devices Are Key Factors Driving Industry Growth, Says Emergen Research

Vancouver, British Columbia--(Newsfile Corp. - April 15, 2021) - The global biophotonics market size is expected to reach USD 118.89 Billion in 2027 at a CAGR of 11.7% during the forecast period, according to a current analysis by Emergen Research. Rapid developments in optical technologies, rising research and development activities, and increasing demand for early diagnosis are key factors expected to drive market revenue growth over the forecast period. Progress in the field of applied sciences, growing demand for home-based point-of-care devices, and increasing geriatric population worldwide are some other key factors expected to fuel revenue growth of the market going ahead.

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Biophotonics is a combination of biology and photonics that uses photons or light to image, identify, and engineer biological materials. It also enables surgeons to observe the internal workings of tissues and cells. Incorporation of biophotonics in interventional procedures such as endoscopy has paved the way for new opportunities for improved and timely diagnosis and characterization of diseases. This is expected to contribute significantly to revenue growth of the market over the forecast period. Recent progress in biophotonics research has created new applications for clinical diagnostics and therapies that involve tissues, cells, and fluids. This has enabled researchers and physicians to develop superior and non-invasive diagnostic procedures and this is expected to fuel revenue growth of the market over the forecast period.

The advent of new optical masers and their use in microscopy enables efficient high-resolution imaging and measurement of distinct molecules and tissues. This has boosted its application in healthcare industry and is expected to drive market growth over the forecast period. However, low rate of acceptance of this technology and rising issues surrounding sensitivity, credibility, and quality of products offered are expected to restrain market growth to a certain extent over the forecast period.

Some Key Highlights from the Report:

• Key companies operating in the market include Andor Technology Ltd, Becton, Dickinson and Company, FEI Company, Lumenis Ltd., Zecotek Photonics Inc., Carl Zeiss AG, Hamamatsu Photonics K.K. and Affymetrix, Inc. among others.
• Non-medical end-use segment is expected to register significant revenue growth over the forecast period. Growth can be attributed to increasing demand for biophotonics for non-medical applications and rising use of biophotonics to study tissues at macro and micro levels and effectively diagnose diseases.
• In-vivo segment is expected to account for a considerable revenue share in the global market over the forecast period owing to increasing demand for in-vivo imaging to screen for diseases and infections, assess potency of drugs, and measure effectiveness of designed treatment approach.
• Increasing adoption of technology across various end-use industries such as biotechnology, medicine, agriculture, nosology, and R&D areas in life science sector are expected to further boost revenue growth of the market over the forecast period.
• Surface imaging segment revenue is expected to expand at a revenue CAGR of 11.8% during the forecast period owing to increasing development in surface imaging, rising use of surface imaging in drug discovery and medical nosology, and emergence of the technique as an efficient tool for in-vivo and in-vitro imaging.
• North America is expected to account for largest revenue share in the global market over the forecast period owing to rapid progress in the field of applied sciences, increasing incidences of chronic illnesses, demand for less invasive medical procedures, and rapid advancement in nanotechnology and imaging.

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For the purpose of this report, Emergen Research has segmented the global biophotonics market on the basis of technology, application, end-use, and region:

Technology Outlook (Revenue, USD Billion; 2017-2027)

• In-vivo
• In-vitro

Application Outlook (Revenue, USD Billion; 2017-2027)

• Endoscopy
• Spectromolecular
• Surface Imaging
• Microscopy
• Light Therapy
• Biosensors

End-Use Outlook (Revenue, USD Billion; 2017-2027)

• Medical Diagnostics
• Medical Therapeutics
• Test Components

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Regional Outlook (Revenue, USD Billion; 2017-2027)

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • U.K.
  • Germany
  • France
  • BENELUX
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Rest of LATAM
• Middle East & Africa
  • Saudi Arabia
  • U.A.E.
  • Rest of MEA

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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