Biophotonics Market Size, Share, Trends, Growth, and Forecast 2032

Biophotonics Market Size

According to Zion Market Research, the global Biophotonics Market was worth USD 67.4 Billion in 2023. The market is forecast to reach USD 164.74 Billion by 2032, growing at a compound annual growth rate (CAGR) of 10.44% during the forecast period 2024-2032.

The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Biophotonics Market industry over the next decade.

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Biophotonics Market: Overview

Biophotonics is the combination of biological materials and light which integrates lasers, photonics, biotechnology and nanotechnology. Biophotonics is applied in dentistry and medicine for diagnosis and treatment of diseases. Biophotonics uses light beams and forms of energy to diagnose and monitor medical conditions. Biophotonics plays an important role in dentistry for the early detection of diseases.

Researchers have found that biophotonics procedure such as Raman spectroscopy, two-photon fluorescence spectroscopy, optical coherence tomography, one-photon fluorescence spectroscopy, and confocal reflection spectroscopy can help in identifying tumors at early phases, monitoring metabolic products & biomarkers, and examining eye fundus. The move is forecast to boost biophotonics market growth in the near future.

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COVID-19 Impact Analysis  

The global Biophotonics market has witnessed a slight decline in the sales for short term to the lockdown enforcement placed by governments in order to contain COVID spreading. The restrictions imposed by various nations to contain COVID had stopped the production resulting in a disruption across the whole supply chain. However, the global markets are slowly opening to their full potential and theirs a surge in demand. The market would remain bullish in upcoming year.  The significant decrease in the global Biophotonics market size in 2020 is estimated on the basis of the COVID-19 outbreak and its negative impact on the economies and industries across the globe. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.

Biophotonics Market: Growth Factors

“Large-scale use of photonic parts in healthcare equipment to obtain greater accuracy and sensitivity will boost the growth of biophotonics market over the coming years,” says the author of this study. Apart from this, rapidly increasing geriatric population and rising incidences of chronic ailments will lead to more demand for biophotonics over the forthcoming years. In addition to this, favorable government policies and prominent application of IT in the healthcare sector will further boost the biophotonics market trends.

Escalating costs of biophotonics-based equipment along with the intricacies associated with the biophotonics technology, however, are likely to hinder the biophotonics market evolution over the next few years. Nevertheless, substantial advancements in the technology over the past few years and its rapid acceptance across the medical industry are anticipated to harvest new growth avenues for biophotonics market, normalizing the impact of hindrances on the biophotonics market, reports the study.

Biophotonics Market: Segmentation

The application segments for biophotonics market are see-through imaging, microscopy, inside imaging, spectro molecular, light therapy, surface imaging, and biosensors. In 2015, see-through imaging was sharing the largest part of revenue due to strong demand for radical non-invasive surgical procedures in medical sectors, such as brain imaging, cardiology, neurology, and oncology. Light therapy is expected to witness the fastest growth in the years to come

Test & components, medical therapeutics, medical diagnostics, and non-medical are the key end-users in the biophotonics market. Medical diagnostics accounted for the largest share of revenue, as a result of increasing adoption by different end-users which include healthcare providers, research laboratories, and instrument manufacturers.Non-medical is another key outlet of biophotonics market and is expected to experienced strong growth in the near future. This growth is mainly due to its environmental screening and monitoring capabilities. Moreover, test & components and medical therapeutics are projected to witness significant growth within the forecast period.

Biophotonics Market: Report Scope

Biophotonics Market: Regional Analysis

In terms of geography, the market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. North America dominated this market with the largest share of biophotonics market as a result of surging R&D initiatives and accessibility to the excellent infrastructure coupled with the high investments in the healthcare sector.Europe accounted for a profitable share in terms of revenue in 2015 owing to various ongoing development activities in the medical sector. However, Asia pacific is anticipated to witness robust growth in the years to come on account of the developing economic status and rising demand for the R&D projects. Latin America and the Middle East & Africa is expected to show significant growth in the coming years. This growth is mainly due to increase awareness and demand for biologics and improvement in health care infrastructure.

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Biophotonics Market: Competitive Players

• Becton
• Dickinson and Company
• Carl Zeiss AG
• FEI Company
• Hamamatsu Photonics K.K.
• Olympus Corporation
• Andor Technology Ltd.

The global Biophotonics Market is segmented as follows:

By End-uses

• Test & Components
• Medical Therapeutics
• Medical Diagnostics
• Non-Medical

By Applications

• See-Through Imaging
• Microscopy
• Inside Imaging
• Spectro Molecular
• Light Therapy
• Surface Imaging
• Biosensors

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa