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.
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| Asia Pacific Biophotonics Market by Application, 2013 - 2024 (USD Billion) |
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 Biophotonics Market: www.grandviewresearch.com/industry-analysis/biophotonics-market
Further key
findings from the report suggest:
- Asia Pacific is expected to emerge as the
fastest growing market in terms of product technology upgradation. Rising
awareness in this region pertaining the life of deployed soldiers and
vehicles is likely to trigger government budgets allocated for defense.
- North America is likely to emerge the largest
market for ballistic composites on account of favorable government
budgets, policies and regulations pertaining defense initiatives.
- Polymer matrix composite is expected to
experience a significant growth on account of their low cost and simple
fabrication methods. Its significance lies in its ability to grow fatter
and short upon being heated.
- During the forecast period, ballistic
composites market is expected to be majorly driven by armor applications
in body vests and defense vehicles.
Browse more
reports of this category by Grand View Research: 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 By Grand View Research: 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.
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