The Biophotonics Market Size is valued at USD 61.18 Bn in 2022 and is predicted to reach USD 139.37 Bn by the year 2031 at a 9.7 % CAGR during the forecast period for 2023-2031.
Biophotonics is an interdisciplinary topic that combines biology, physics, and photonics (the study of light) to investigate and use light-biosystem interactions. It entails the application of light-based technology to comprehend, visualize, diagnose, and treat biological processes at multiple sizes, ranging from molecular and cellular to tissues and entire organisms.
The growing geriatric population, rising prevalence of chronic diseases, expanding government initiatives, expanding healthcare amendments, and incorporating IT into healthcare applications will likely significantly fuel the biophotonics market throughout the forecast period. The increased use of photonic components in existing healthcare devices for value enhancement and increased accuracy and sensitivity is expected to significantly impact the industry in the coming years. Furthermore, managing environmental dynamics, such as water and food sources, is expected to fuel market expansion.
However, due to the epidemic's economic impact, many research institutions, colleges, and businesses encountered financial issues. As a result, several biophotonics research initiatives may have been postponed or cut back, impacting innovation and advancement in the field.
The Biophotonics Market is segmented on the basis of application, technology, and end-user. As per the application, the market is segmented as microscopy, see-through imaging, light therapy, biosensors, spectro molecular, inside imaging, and surface imaging (endoscopy). The technology segment includes in-vivo and in-vitro. By end-use, the market is segmented into medical therapeutics, medical diagnostics, and others (non-medical applications).
The see-through imaging category is expected to hold a major share of the global Biophotonics Market in 2022. To increase size resolution and penetration depth, optical imaging is increasingly being used in conjunction with computed tomography (CT), PET, Magnetic Resonance Imaging (MRI), and single-photon emission computed tomography (SPECT).
Furthermore, when imaging modalities are employed correctly, they create images that aid in discovering early-stage illnesses, including cancer, small precise abscesses, and the presentation of interior illustrations. Biophotonics is used in optical imaging techniques that produce high-quality images, assisting physicians, neurosurgeons, medical physicists, biomedical engineers, and scientists in making critical treatment decisions that can reduce cancer mortality rates while also providing life-saving outcomes.
The endoscopy segment is projected to grow at a rapid rate in the global Biophotonics Market. Endoscopy is a minimally invasive process that is increasing the segment's income. Individuals choose minimally invasive surgery due to faster recovery rates, lower anaesthesia power, and shorter hospital stays. Various advantages, including minimal tissue loss, small incisions, and the utilization of new technologies, are contributing to the segment's revenue growth. According to American Cancer Society estimates, there are 26,380 new instances of stomach cancer reported in 2022, accounting for 1.5% of all malignancies diagnosed on July 15, 2022. As a result, these surgeries add to the segment's revenue growth.
The North America Biophotonics Market is expected to record the highest market share in the revenue in the near future. Attributable to the growing R&D projects, increasing finances in the healthcare industry, and accessibility to the outstanding infrastructure. The rising elderly population and an rapidly growing number of cancer patients are expected to drive regional market expansion in the coming years.
Over the forecast period, Asia Pacific is expected to emerge as a growing area. This is due to the rapid industrialization of countries like China, Malaysia, India, and South Korea. The biophotonics market in Asia Pacific is predicted to grow in the coming years due to rising government efforts, improvements in healthcare facilities, and increased investment by leading industry participants.
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Report Attribute |
Specifications |
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Market Size Value In 2022 |
USD 61.18 Bn |
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Revenue Forecast In 2031 |
USD 139.37 Bn |
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Growth Rate CAGR |
CAGR of 9.7% from 2023 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2023 to 2031 |
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Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Application, Technology, End-Use |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South Korea; South East Asia |
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Competitive Landscape |
Oxford Instruments, Olympus Corporation, PitchBook, ZoomInfo Technologies LLC, Lumenis Be Ltd, IDEX, Zenalux Biomedical, Inc., GLENBROOK TECHNOLOGIES, Photonics Media, and Thermo Fisher Scientific Inc. |
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Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Biophotonics Market Snapshot
Chapter 4. Global Biophotonics Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. COVID-19 Impact Analysis
Chapter 5. Market Segmentation 1: By Application Estimates & Trend Analysis
5.1. By Application & Market Share, 2019-2031
5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2022 to 2031 for the following By Application:
5.2.1. Microscopy
5.2.2. See-through imaging
5.2.3. Light therapy
5.2.4. Biosensors
5.2.5. Spectro molecular
5.2.6. Inside Imaging
5.2.7. Surface imaging (endoscopy)
Chapter 6. Market Segmentation 2: By Technology Estimates & Trend Analysis
6.1. By Application & Market Share, 2019-2031
6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2022 to 2031 for the following By Technology:
6.2.1. In-vivo
6.2.2. In-vitro
Chapter 7. Market Segmentation 3: By End Use Estimates & Trend Analysis
7.1. By Application & Market Share, 2019-2031
7.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2022 to 2031 for the following By End Use:
7.2.1. Gynecological Surgeries
7.2.2. General/Abdominal Surgeries
7.2.3. Orthopedic Surgeries
7.2.4. Cardiovascular Surgeries
7.2.5. Neurological Surgeries
7.2.6. Urological Surgeries
7.2.7. Reconstructive Surgeries
7.2.8. Others
Chapter 8. Biophotonics Market Segmentation 4: Regional Estimates & Trend Analysis
8.1. North America
8.1.1. North America Biophotonics Market revenue (US$ Million) estimates and forecasts By Application, 2019-2031
8.1.2. North America Biophotonics Market revenue (US$ Million) estimates and forecasts By Technology, 2019-2031
8.1.3. North America Biophotonics Market revenue (US$ Million) estimates and forecasts By End Use, 2019-2031
8.1.4. North America Biophotonics Market revenue (US$ Million) estimates and forecasts by country, 2019-2031
8.1.4.1. U.S.
8.1.5. Canada
8.2. Europe
8.2.1. Europe Biophotonics Market revenue (US$ Million) By Application, 2019-2031
8.2.2. Europe Biophotonics Market revenue (US$ Million) estimates and forecasts By Technology, 2019-2031
8.2.3. Europe Biophotonics Market revenue (US$ Million) estimates and forecasts By End Use, 2019-2031
8.2.4. Europe Biophotonics Market revenue (US$ Million) by country, 2019-2031
8.2.4.1. Germany
8.2.4.2. Poland
8.2.4.3. France
8.2.4.4. Italy
8.2.4.5. Spain
8.2.4.6. UK
8.2.4.7. Rest of Europe
8.3. Asia Pacific
8.3.1. Asia Pacific Biophotonics Market revenue (US$ Million) By Application, 2019-2031
8.3.2. Asia Pacific Biophotonics Market revenue (US$ Million) estimates and forecasts By Technology, 2019-2031
8.3.3. Asia Pacific Biophotonics Market revenue (US$ Million) estimates and forecasts By End Use, 2019-2031
8.3.4. Asia Pacific Biophotonics Market revenue (US$ Million) by country, 2019-2031
8.3.4.1. China
8.3.4.2. India
8.3.4.3. Japan
8.3.4.4. Australia
8.3.4.5. Rest of Asia Pacific
8.4. Latin America
8.4.1. Latin America Biophotonics Market revenue (US$ Million) By Application, 2019-2031
8.4.2. Latin America Biophotonics Market revenue (US$ Million) estimates and forecasts By Technology, 2019-2031
8.4.3. Latin America Biophotonics Market revenue (US$ Million) estimates and forecasts By End Use, 2019-2031
8.4.4. Latin America Biophotonics Market revenue (US$ Million) By country, (US$ Million) 2019-2031
8.4.4.1. Brazil
8.4.4.2. Rest of Latin America
8.5. Middle East & Africa
8.5.1. Middle East & Africa Biophotonics Market revenue (US$ Million) By Application, (US$ Million)
8.5.2. Middle East & Africa Biophotonics Market revenue (US$ Million) estimates and forecasts By Technology, 2019-2031
8.5.3. Middle East & Africa Biophotonics Market revenue (US$ Million) estimates and forecasts By End Use, 2019-2031
8.5.4. Middle East & Africa Biophotonics Market revenue (US$ Million) By country, (US$ Million) 2019-2031
8.5.4.1. South Africa
8.5.4.2. GCC Countries
8.5.4.3. Rest of MEA
Chapter 9. Competitive Landscape
9.1. Major Mergers and Acquisitions/Strategic Alliances
9.2. Company Profiles
9.2.1. Oxford Instruments
9.2.2. Olympus Corporation
9.2.3. PitchBook
9.2.4. ZoomInfo Technologies LLC
9.2.5. Lumenis Be Ltd
9.2.6. IDEX
9.2.7. Zenalux Biomedical, Inc.
9.2.8. GLENBROOK TECHNOLOGIES
9.2.9. Photonics Media
9.2.10. Thermo Fisher Scientific Inc.
Biophotonics Market By Application-
Biophotonics Market By Technology-
Biophotonics Market By End-Use-
Biophotonics Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
