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  • Published On : Sep 2022
  • Code : CMI3191
  • Industry : Biotechnology
  • Pages : 160
  • Formats :

Biophotonics is a branch of science that deals with producing and using the photons of light to create an image, identify, and engineer biological materials. Biophotonics is a combination of four major technologies that include lasers, biotechnology, nanotechnology, and photonics. It has a biomedical application that covers light interactions in medicine and life-science for the healthcare sector.

Global biophotonics market is estimated to be valued at US$ 67,324.7 million in 2022 and is expected to exhibit a CAGR of 8.7% during the forecast period (2022-2030).

Figure 1.Global Biophotonics Market Share (%), by End Use, 2022

Biophotonics  | Coherent Market Insights

Increasing launch of new treatments based on biophotonics is expected to drive growth of market.

Increasing product launches and approvals by regulatory authorities to key players in market are expected to drive market growth over the forecast period. For instance, in August 2018, Kleresca, a medical technology company announced the launch of a new treatment for rosacea. It is based on Kleresca’s unique and patented biophotonic technology which utilizes fluorescent light energy to stimulate the skin’s own repair mechanisms through photo bio modulation.

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Biophotonics Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2022: US$ 67,324.7 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2030
Forecast Period 2022 to 2030 CAGR: 8.7% 2030 Value Projection: US$ 130,900.7 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By End Use: Medical Diagnostics, Medical Therapeutics, Test Components, Non-Medical Applications
  • By Application: See Through Imaging, Inside Imaging, Spectro Molecular, Surface Imaging, Microscopy, Light Therapy, Biosensors, Other Analytic Sensing
Companies covered:

Becton, Dickinson & Co., Affymetrix Inc., Carl Zeiss, Olympus America, Andor Technology, and Hamamatsu Photonics.

Growth Drivers:
  • Factors such as increasing launch of new treatments based on biophotonic
  • Increase in inorganic strategy like partnership by key market players
Restraints & Challenges:
  • Stringent patents and regulatory policies

Figure 2.Global Biophotonics Market Share (%), by Region, 2022

Biophotonics  | Coherent Market Insights

Increase in inorganic strategy like partnership by key market players is expected to drive market growth during the forecast period.

Increasing partnership by key players in market is expected to drive market growth over the forecast period. For instance, in September 2020, Asphericon, a customized service provider in optical segment, announced partnership with OptoSigma, a supplier of Optical and Opto-mechanical products, to distribute aspheric optics for the European, North American, and South American markets, through OptoSigma’s websites and sales channels.

Global Biophotonics Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.

COVID-19 has affected the economy in three main ways: by directly affecting production and demand of drugs and vaccines, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, UAE, Egypt, and others, faced problems with regard to the transportation of drugs and vaccines from one place to another.

Global biophonotics market has been negatively affected due to COVID-19, owing to the lack of availability of skilled professionals to operate the biophonotics technology.

Global Biophotonics Market: Key Developments

On November 24, 2020, Jenoptik Light, a globally operating optical technologies company, announced a partnership with Optics BioPhotonics group, a company focused on providing technological solutions in biophonotics, to supply a next generation automated microscope for inline cellular analysis and to also provide microscopy, illumination systems, and  high performance imaging systems.

Global Biophotonics Market: Restraint

Stringent patents and regulatory policies are major factor that can impact the market growth of biophotonics as most of the drugs are still patented, due to which only certain players can have the power to generate profit from medical solution. This is projected to hamper market growth over the forecast period.

The high cost of biophotonics instrument and treatment is expected to restraint market growth. Biophotonics instruments are very expensive when compared to their alternatives. Many small and medium-sized businesses, as well as end users, hold back from adopting biophotonics technology due to its high cost. This would also restrict the use of biophotonic technology. Therefore, the high cost of biophotonic will restrain the industry's expansion.

Key Players

Major players operating in the global biophotonics market include Becton, Dickinson & Co., Affymetrix Inc., Carl Zeiss, Olympus America, Andor Technology, and Hamamatsu Photonics

Biophotonics refers to the combination of field of photonics and biology. It is a light-based technology used in medicine and life-science for generation, detection of photons, manipulation, and quantum units of lights. This technology is also used in the study of the biological tissue, molecules, and cells. It is also used in imaging and therapeutic techniques in widespread clinical use.

Based on application, market is segmented into see through imaging, inside imaging, spectro molecular, surface imaging, microscopy, light therapy, biosensors, and other analytic sensing. Furthermore, based on end use, biophotonics market is segmented into medical diagnostics, medical therapeutics, test components, and non-medical applications.

Market Dynamics

Based on end use, medical diagnostics accounted for the largest revenue share in the global biophotonics market, followed by medical therapeutics and test components. Among region, North America held dominant position in the global biophotonics market, followed by Europe and Middle East & Africa.

Key features of the study:

  • This report provides in-depth analysis of the global Biophotonics market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global Biophotonics market  based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include Becton, Dickinson & Co., Affymetrix Inc., Carl Zeiss, Olympus America, Andor Technology, and Hamamatsu Photonics
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global Biophotonics market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global Biophotonics market

Detailed Segmentation:

  • Global Biophotonics Market, By End Use:
    • Medical Diagnostics
    • Medical Therapeutics
    • Test Components
    • Non-Medical Applications
  • Global Biophotonics Market, By Application:
    • See Through Imaging
    • Inside Imaging
    • Spectro Molecular
    • Surface Imaging
    • Microscopy
    • Light Therapy
    • Biosensors
    • Other Analytic Sensing
  • Global Biophotonics Market, By Region:
    • North America
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Country
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Country
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Region/Country
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • Becton, Dickinson & Co.*
      • Company Highlights
      • Product Portfolio
      • Key Highlights
      • Financial Performanc
      • Market Strategies
    • Dickinson & Co.
    • Affymetrix Inc
    • Carl Zeiss
    • Olympus America
    • Andor Technology
    • Hamamatsu Photonics

 “*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

Global Biophotonics market size is estimated to be valued at US$ 67,324.7  million in 2022 and is expected to exhibit a CAGR of 8.7% between 2022 and 2030.
Factors such as increasing launch of new treatments based on biophotonic and increase in inorganic strategy like partnership by key market players are expected to drive the market growth.
Medical Diagnostics is the leading end use segment in the market.
The major factors hampering growth of the market include stringent patents and regulatory policies 
Major players operating in the market include Becton, Dickinson & Co., Affymetrix Inc., Carl Zeiss, Olympus America, Andor Technology, and Hamamatsu Photonics

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