Global Biophotonics Market – Industry Trends and Forecast to 2029

Global Biophotonics Market, By Technology (Surface Imaging, Inside Imaging, See-through Imaging, Microscopy, Biosensors, Medical Lasers, Spectromolecular, Others), End User (Medical Diagnostics, Medical Therapeutic, Tests & Components, Nonmedical Application), Application (See-through Imaging, Inside Imaging, Spectro Molecular, Surface Imaging, Microscopy, Light Therapy, Analytical Sensing, Biosensors) – Industry Trends and Forecast to 2029

Biophotonics Market Analysis and Size

The science of creating and utilizing light to detect, visualize and modify the biological constituents is known as biophotonics. Mainly it uses light and other radiant energy to understand the inner functioning of tissues and cells in living organisms. Biophotonics is used in biology to study molecular functions, processes and structures. In medicine, it is used to study light–tissue interactions with nano, micro and macro-organism level to diagnose, detect and treat diseases. Moreover, it helps in modification, emission, detection, absorption, reflection and generation of radiation from bimolecular, organisms, cells, tissues and biomaterials.

Data Bridge Market Research analyses that the biophotonics market is expected to undergo a CAGR of 3.47% during the forecast period. This indicates that the market value, which was USD 676.55 billion in 2021, would rocket up to USD 888.82 billion by 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Biophotonics Market Scope and Segmentation

Market Definition

The term bio photonic is the combination of biology and photonics, with photonics being the science and technology of manipulating, generating and detecting photons, which is the quantum units of light. Photonics is related to photons and electronics. Photons play a vital role in information technologies, such as fiber optics, the way electrons do in electronics.

Biophotonics Market Dynamics

Drivers

• Growing awareness regarding healthcare solutions

Rising awareness for better healthcare solutions among consumers are the major factor which increase the government initiatives and offer beneficial policies to increase the awareness in health care sectors. Growing launch of new treatment which is based on biophotonic is further expected to increase market growth rate. For instance, Kleresca, which is a medical technology company has declared the launch of a treatment for rosacea. It is based on Kleresca’s patented and unique biophotonic technology this technology uses fluorescent light to stimulate the skin’s own repair mechanisms through photo bio modulation.

• Growth in partnership

The increasing number of partnership among the key market players for developing advanced biophotonic technology is expected to increase the market's growth rate during the forecast period. For instance, The Salk Institute’s Waitt which is the Advanced Biophotonics Center and ZEISS declared a global partnership to accelerate the frontiers of imaging and microscopy technologies. The reason of this partnership was to grow optoelectronic and cutting-edge optical technologies. Thus, the growing number of partnership for advanced imaging technology by using biophotonic is expected to boost the market growth rate.

Opportunities

• Technological advancement

Increasing cases of several chronic diseases overall the globe such as cancers, arthritis, genetic disorders etc. There are nearly 7000 rare diseases which are prevalent across the world. Out of this more than 95% of rare disorders don’t get FDA-approved drugs. Biophotonics is the most advanced technology aiming to deliver better treatment solutions for these critical diseases. Therefore, the rising application of biphotonic-based treatment solutions are expected to drive the market's growth rate during the forecast period.

Restraints/Challenges

• High cost associated with treatment and instrument

The high price of biophotonics treatment and instrument is anticipated to restraint the market growth. Biophotonics instruments are very expensive comparison to its alternatives. The high cost and many small and medium scale enterprises avoid adopting biophotonics devices. This is expected to restrain the use of biophotonic technology. Hence, the high cost of the biophotonics is likely to hamper the market growth of biophotonic market.

This biophotonics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the biophotonics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Biophotonics Market

The outbreak of COVID-19 outbreak had an impact on the biophotonics market due to end-user facilities, such as clinics, hospitals and other healthcare services. These sectors were heavily impacted due to government standards, such as lockdowns, social distancing, around the world. Moreover, this pandemic affected the economy and the functioning of hospital care for non-COVID-19 patients in hospitals. Moreover, the widespread corona virus forced governments overall the globe to lockdown initiatives which also reduced the production and sales revenue, which disrupted the global economy substantially. Thus, the biophotonics market size is estimated to gain momentum by the end of the pandemic

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In March 2021, Zeiss prolonged its presence by introducing new research and development, sales, production and customer service center with an investment of USD 180 million in the United States. This new site will incorporate with the ZEISS Microscopy Customer Center and the X-ray Microscopy business to deliver support for the opportunities in materials research, life sciences, and industrial applications.
• In November 2021, Oxford Instruments launched BC43, a compact microscopy device. This device can offer real-time 3D imaging to the users.

Global Biophotonics Market Scope

The biophotonics market is segmented on the basis of technology, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Technology

• Surface Imaging
• Inside Imaging
• See-through Imaging
• Microscopy
• Biosensors
• Medical Lasers
• Spectromolecular
• Others

End User

• Medical Diagnostics
• Medical Therapeutic
• Tests & Components,
• Nonmedical Application

Application

• See-through Imaging
• Inside Imaging, Spectro Molecular
• Surface Imaging
• Microscopy
• Light Therapy
• Analytical Sensing
• Biosensors

Biophotonics Market Regional Analysis/Insights

The biophotonics market is analysed and market size insights and trends are provided by country, technology, application and end-user as referenced above.

The countries covered in the biophotonics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the biophotonics market during the forecast period 2022-2029 due to the growing number of cancer patients and increasing demand for non-medical applications such as in the field of food security

Asia-Pacific will continue to project the highest compound annual growth rate for this period due to the rising elderly population and growing healthcare expenditure in this region .

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Biophotonics Market Share Analysis

The biophotonics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to biophotonics market.

Some of the major players operating in the biophotonics market are:

• Thermo Fisher Scientific Inc. (U.S.)
• Oxford Instruments (U.K.)
• BD (U.S.)
• ZEISS International (Germany)
• Hamamatsu Photonics K.K. (Japan)
• Lumenis Be Ltd. (Israel)
• Olympus Corporation (Japan)
• PerkinElmer, Inc. (U.S.)
• Zecotek Photonics Inc. (Canada)
• Glenbrook Technologies (U.S.)
• Zenalux Biomedical Inc. (U.S.)