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.
Browse full research report on Global 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.
Browse more reports of this category by Grand View
Research: http://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
Access press release of this research report by Grand
View Research: http://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.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information:
www.grandviewresearch.com
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