Biophotonics Global Market Report 2024

“Biophotonics Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on biophotonics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for biophotonics? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The biophotonics market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Product Technology: In-Vitro; In-Vivo
• 2) By Application: See-Through Imaging; Inside Imaging; Spectromolecular; Surface Imaging; Microscopy; Light Therapy; Biosensors; Other Applications
• 3) By End Use: Diagnostics; Therapeutic; Tests; Other End Uses
• Companies Mentioned: Thermo Fisher Scientific Inc.; OpGen Inc.; NU Skin Enterprises Inc.; IPG Photonics Corporation; Idex Corporation
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Biophotonics represents the convergence of photonics and biology, forming a multidisciplinary research field focused on the application of light-based technologies in life sciences and medical domains. Its primary purpose is to investigate, manipulate, and monitor biological processes at multiple levels within the realm of biology, spanning cellular, tissue, molecular, and organismic aspects.

The key technological segments in biophotonics involve in-vitro and in-vivo methodologies. In-vitro approaches are centered around the examination of microorganisms, cells, and biological molecules outside of their natural biological environments. These investigations are typically conducted in laboratory vessels like test tubes, flasks, Petri dishes, and microtiter plates, commonly known as test-tube studies. Various applications within biophotonics encompass see-through imaging, internal imaging, spectromolecular analysis, surface imaging, microscopy, light-based therapies, biosensors, and more, with broad utility across sectors such as diagnostics, therapeutics, testing, and related domains.

The biophotonics market research report is one of a series of new reports from The Business Research Company that provides biophotonics market statistics, including biophotonics industry global market size, regional shares, competitors with a biophotonics market share, detailed biophotonics market segments, market trends and opportunities, and any further data you may need to thrive in the biophotonics industry. This biophotonics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The biophotonics market size has grown rapidly in recent years. It will grow from $74.36 billion in 2023 to $82.74 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth witnessed during the historical period can be primarily attributed to advancements in medical imaging, which have revolutionized disease diagnosis and monitoring. Additionally, it has been driven by extensive applications in life sciences research, the utilization of optical sensing and spectroscopy techniques, and innovations in lasers and light sources.

The biophotonics market size is expected to see rapid growth in the next few years. It will grow to $130.07 billion in 2028 at a compound annual growth rate (CAGR) of 12.0%. The projected growth in the coming period is underpinned by key factors such as the expansion of personalized medicine, advancements in precision agriculture, global health initiatives, the increasing use of wearable and mobile health devices, and the growing emphasis on environmental monitoring and safety. Noteworthy trends in this forecast period encompass the miniaturization and proliferation of point-of-care devices, the emergence of multimodal imaging technologies, the integration of optogenetics, the application of machine learning and data analytics, and the utilization of smart imaging probes.

The biophotonics market is experiencing growth driven by the increasing demand for minimally invasive surgeries. Optical engineering and imaging technologies have become instrumental in the realm of minimally invasive procedures, enabling real-time visualization of tissue manipulation within remote internal sites. Notably, a report from Intuitive Surgical, Inc., a US-based leader in minimally invasive care and robotic-assisted surgery, revealed the performance of 10 million surgeries in 2021. Consequently, the expanding number of minimally invasive surgeries conducted worldwide annually is contributing to the enhanced revenues in the biophotonics market.

Anticipated to fuel the biophotonics market's growth is the rising prevalence of chronic conditions. Chronic conditions, characterized by their persistent nature lasting three months or longer, are prevalent worldwide. Biophotonics plays a crucial role in early detection, continuous monitoring, and effective treatment of these conditions, offering non-invasive imaging and diagnostic solutions. This facilitates improved patient outcomes while simultaneously curbing healthcare costs. A September 2022 report from the World Health Organization (WHO) disclosed that chronic diseases are responsible for a significant portion of global mortality, with 74% of all deaths attributed to these conditions. This encompasses a range of chronic diseases, including cardiovascular ailments, cancer, chronic respiratory diseases, and diabetes. Hence, the biophotonics market's growth is spurred by the increasing incidence of chronic conditions.

The biophotonics market may face a growth impediment due to the high prices of biophotonic-based devices and instruments. Biophotonics technology, characterized by the integration of biological components and the generation, manipulation, and detection of light units, tends to be more complex, leading to elevated costs in comparison to conventional instruments. This price disparity may negatively affect the growth trajectory of the biophotonics market.

A notable trend driving the biophotonics market is the introduction of advanced techniques in the field of biotechnology. An exemplary development comes from a team of scientists at the University of St. Andrews in Scotland, who devised a fluorescence microscopy technique. This innovative method allows for the imaging of delicate biological samples with minimal damage, particularly in neuroscience and biomedicine applications. Such low-impact optical techniques are anticipated to revolutionize the realm of biomedicine in the near future. As a result, the biophotonics market is witnessing a growing emphasis on novel and cutting-edge techniques.

Prominent companies in the biophotonics market are dedicated to creating innovative products, with a focus on advanced medical applications. One such product category is bronchoscopes, vital instruments used for exploring the respiratory system's internal regions. For example, Olympus Corporation, a Japanese leader in optical and digital precision technology, unveiled its new line of single-use bronchoscopes called H-SteriScope in April 2021. These disposable bronchoscopes are equipped with premium features, enabling clinicians to conduct advanced diagnostic and therapeutic procedures effectively. Specifically designed for tasks like tissue biopsy and foreign body retrieval, the H-SteriScope bronchoscopes vary in outer diameters from 2.2 mm to 6.2 mm and feature a working channel range from 1.2 mm to 3.2 mm.

In another development, CellaVision, a Swedish company specializing in digital Morphology Solutions, acquired the exclusive rights to a patent portfolio concerning Fourier Ptychographic Microscopy from Clearbridge BioPhotonics for $3.28 million (SEK 28.7 million) in April 2021. This strategic acquisition grants CellaVision access to a promising emerging technology. The Fourier Ptychography Microscopy technology is poised for potential use in the development of future automated microscopes, particularly in the fields of haematology and related areas. Clearbridge BioPhotonics, Inc., based in the United States, is an imaging solutions company contributing to this innovative venture.

Major companies operating in the biophotonics market include Thermo Fisher Scientific Inc., OpGen Inc., NU Skin Enterprises Inc., IPG Photonics Corporation, Idex Corporation, Toshiba Corporation, Horiba Ltd., Precision Photonics Corp, Roche Group, General Electric Company, Koninklijke Philips NV, Affymetrix Inc., Andor Technology Ltd., Becton Dickinson & Co, Carl Zeiss AG, FEI Company, Hamamatsu Photonics KK, Lumenis Ltd., Olympus Corporation, PerkinElmer Inc., Zecotek Photonics Inc., Zenalux Biomedical Inc., Glenbrook Technologies Inc., Oxford Instruments PLC, Lumicks BV, Creoptix AG, ThinkCyte Inc., PhotoPharmics Inc., Impedimed Ltd., Bioptics Inc.

North America was the largest region in the biophotonics market in 2023. Western Europe was the second largest region in the biophotonics market. The regions covered in the biophotonics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the biophotonics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.