The
global biophotonics market was valued at USD 34.29
billion in 2015, which is estimated to reach USD 91.31 billion by 2024,
according to a new report by Grand View Research, Inc. The developments in
optical technologies, increasing investigations by researchers, and mounting
demand for early diagnosis are anticipated to drive the market growth over the
forecast period. Biophotonics, being an evolving area of scientific research,
has several applications due its ability to harnesses light for comprehending
the functioning of cells and tissue in living organisms. This further aids in
the better diagnosis of health problems.
Asia Pacific Biophotonics Market by Application, 2013 - 2024 (USD Billion) |
Biophotonics
market is projected to witness a high growth during the forecast period, owing
to its application in optical techniques while simultaneously preserving the
integrity of the biological cells under surveillance. New laser microscopes are
being developed which permit measurements of distinct molecules and tissues at
exceptional resolutions.
Biophotonics
also finds applications in numerous procedures including new laser microscopes,
which allow exceptional specifications of molecules & single tissues,
optical coherence tomography that assists in the minute imaging of
biomaterials, and novel light-activated chemicals utilized for welding tissues
through surgical procedures.
Considering
the enormous application areas, it is becoming perplexing for the key market
players to commercialize this technology. However, the market is confronted
with a slow commercialization rate due to the low acceptance from end-users,
price sensitivity, and concerns pertaining to authenticity, quality, and
reliability of the products.
Full
Research Report On Global Biophotonics Market Analysis:
https://www.grandviewresearch.com/industry-analysis/biophotonics-market
https://www.grandviewresearch.com/industry-analysis/biophotonics-market
Further
key findings from the report suggest:
- The non-medical end-use
segment is expected to emerge as the fastest-growing segment over the
forecast period. The snowballing demand in the non-medical applications is
predicted to offer several growth avenues over the next few years. The
usage of biophotonics to examine tissues at macro and micro levels and
diagnose diseases effectively is expected to be a key reason for its
surging end-use applications.
- The light therapy segment
is projected to grow at a CAGR of 14.88% over the forecast period. It
accounted for 3.6% of the total market revenue in 2014. This is followed
by the surface imaging segment, which is expected to exhibit a high market
growth. In addition to this, the market is expected to observe growth with
increasing adoption of this technology across various industries, such as
biotechnology, therapeutics, agriculture, diagnostics, and life sciences
R&D. Other impact rendering applications include environmental
monitoring, food analysis, dosimetry, dentistry, and medical imaging
utilizing endoscopy and Raman spectroscopy.
- The Asia Pacific
biophotonics market is expected to grow at a CAGR exceeding 13% over the
next few years. Due to the augmented investment in R&D activities,
coupled with the increasing prevalence of cancer, the market is expected
to witness a substantial growth. The increasing healthcare expenditure and
rising government initiatives are expected to fuel the demand for the
regional market.
- The prominent industry
participants include IPG Photonics Corp., Idex Corp., Toshiba, Procter
& Gamble, Horiba, Precision Photonics Corp. (PPC), Roche, GE, Philips,
and Danone. The market is projected to exhibit an aggressive competition
in the arena of technological development, leading to the application of
biophotonic devices in households.
View more
reports of this category by Grand View Research at:
https://www.grandviewresearch.com/industry/technology
https://www.grandviewresearch.com/industry/technology
Grand View Research has segmented the global biophotonics market on the
basis of end-use, application, and region.
Biophotonics
End-Use Outlook (Revenue, USD Billion; 2013 - 2024)
- Tests
and components
- Medical
therapeutics
- Medical
diagnostics
- Non-medical
application
Biophotonics
Application Outlook (Revenue, USD Billion; 2013 - 2024)
- See-Through
Imaging
- Microscopy
- Inside
Imaging
- Spectro
Molecular
- Other
Analytics Sensing
- Light
Therapy
- Surface
Imaging
- Biosensors
Biophotonics
Regional Outlook (Revenue, USD Billion; 2013 - 2024)
- North
America
- Europe
- Asia
Pacific
- RoW
View press
release of this research report by Grand View Research:
https://www.grandviewresearch.com/press-release/global-biophotonics-market
https://www.grandviewresearch.com/press-release/global-biophotonics-market
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more
information: www.grandviewresearch.com
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