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.
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 biophotonics market Analysis:
http://www.grandviewresearch.com/industry-analysis/biophotonics-market
http://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
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
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
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
