Biophotonics Market Size, Share, Trends, Growth and Forecast 2028

Market Overview     

The global Biophotonics market accounted for USD 37.4 Billion in 2020 and is expected to reach USD 88.1 Billion by 2028, growing at a CAGR of around 8.3% between 2021 and 2028.    

Biophotonics generates and harnessing light to visualize, detect, and manipulate biological materials. It is used to understand the internal functioning of cells and tissues in living organisms.

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.

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.

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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.

Report Scope:  

Segment Analysis Preview  

Biophotonics finds wide applications in dentistry and medical sectors, owing to its ability to effectively diagnose & treat diseases.  Massive applications in biosensors, microscopy, surface imaging, see through mapping, light therapy, inside imaging, and spectro molecular will elevate the biophotonics market expansion over the few years span.

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Key Market Players & Competitive Landscape

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

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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