Driven by the recent surge of nanotechnology, combined with increasing demand for home-based Point-of-Care (POC) devices, the Global Biophotonics Market is Forecasted to Cross US$ 100 Bn by 2028 says Ken Research Study.
Biophotonics is the exploration of light in conjunction with biology. It can aid surgeons in understanding how cells and tissues function. This light technique collects a sample of both diseased and healthy tissue for use in the diagnosis, treatment, and surgery. Furthermore, it has the potential to provide technical solutions for significant advances in medical diagnostics, therapeutics, and biotechnology by utilizing light absorption and reemission, as well as elastic and viscous photon scattering events in tissues or samples.
According to Ken Research estimates, the Global Biophotonics Market – which grew from around US$ 30 Bn in 2017 to nearly US$ 50 Bn in 2022 – is expected to grow further into a more than US$ 100 Bn opportunity by 2028 –
“Ken Research shares 3 key insights on this high opportunity market from its latest research study”
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1. Biophotonics has seen Accelerated Growth after Several Proactive Interventions and Rising Funding for the Diagnosis of Multiple Disorders and Diseases.
The Global Biophotonics Market is expected to witness strong growth during the forecast period, owing to increasing favorable government initiatives concerning drug development or research, along with soaring digital healthcare funding. Diagnostic biophotonics is concerned with technologies that detect disease states and monitor the efficacy of proposed treatments. Therapeutic biophotonics, on the other hand, involves altering biological processes and treating disease conditions. Furthermore, biophotonics has found widespread application in biological and clinical research with the development of advanced lasers, optics, spectroscopy, and microscopy tools.
2. The Rising Prevalence of Chronic and Neurodegenerative Diseases is Major Growth Driver for Global Biophotonics Market.
The increasing prevalence of chronic and neurodegenerative diseases, including Neurodegenerative disorders, Alzheimer’s disease (AD), and Parkinson’s disease (PD) due to an aging population, has led to increasing demand for improved drug development or research to effectively combat these diseases.
- For instance, according to Alzheimer’s Disease Association, a U.S.-based non-profit organization, presently nearly 6.2 million individuals in the U.S. have Alzheimer’s disease, a progressive neurologic disorder that leads the brain to shrink and brain cells to die.
- According to Parkinson’s Foundation, a U.S.-based non-profit organization, nearly a million Americans have Parkinson’s disease (PD), a brain disorder that leads to unrestrained movements such as wobbling, stiffness, and difficulty with balance and coordination, with the number expected to increase to 1.2 million by 2030. In addition, over 10 million people worldwide are currently affected by Parkinson’s disease (PD).
3. The Complexity of Biophotonics Technology, Combined with the High Cost of Biophotonics-Based Instruments May Stifle the Market Growth.
The cost of biophotonics is higher than that of conventional instruments. They are regarded as more complex due to the integration of biological units as well as the generation, manipulation, and detection of light units, which raises their price. This will impede the growth of the biophotonics market. Furthermore, the semiconductor detector, which measures both the intensity and the energy of incident radiation, has the highest energy resolution and the clearest image tendency. Hence, biophotonics instruments with a semiconductor detector are likely to be more expensive.
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Key Topics Covered in the Report
- Snapshot of Global Biophotonics Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of Global Biophotonics Market
- Historic Growth of Overall Global Biophotonics Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of Global Biophotonics Industry
- Overview, Product Offerings, and SWOT Analysis of Key Competitors
- Covid-19 Impact on the Overall Global Biophotonics Market
- Future Market Forecast and Growth Rates of the Total Global Biophotonics Market and by Segments
- Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
- Analysis of Global Biophotonics Market
- Major Production/Supply and Consumption/Demand Hubs within Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Region
Major Companies Mentioned in the Report
- Affymetrix Inc.
- Andor Technology
- BD (Becton, Dickinson and Company)
- Carl Zeiss AG
- Olympus Corporation
- Hamamatsu Photonics K.K
- Zecotek Photonic Inc.
- Idex Corporation
- IPG Photonics
- Oxford Instruments Plc
Notable Emerging Companies Mentioned in the Report
- Lumicks
- Creoptix
- ThnikCyte
- PhotoPharmics
- Impedimed
- Norlase
- Vivosight
- Speclipse
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Biotechnology – Therapeutics and Diagnostics Companies
- Pharmaceutical Companies
- Manufacturers of Diagnostic Kits and Instruments
- International Agency for Research on Cancer (IARC)
- Neural Regeneration Research Organizations
- Research Drug Monitoring Authorities
- AI Solution Providers for Drug Discovery
- Medical Devices manufacturers
- Government Ministries and Departments of Healthcare
Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022-2028F
For more insights on the market intelligence, refer to the link below: –
Global Biophotonics Market: Ken Research
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