The global Biophotonics Market research report 2029, as published by Data bridge Market Research, provides insights into the current global outlook and key regions, examining Major Players, Countries, Product Types, and end industries. It focuses on top players in the global market and categorizes the market based on several parameters.
This Biophotonics market research report identifies the competitive landscape of industries, offering a comprehensive understanding of international competition. The study outlines the anticipated growth of the global market during forecast period. Compiled with a blend of static and dynamic perspectives, this research report captures the essence of the businesses views.
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.
Top Companies in the Global Biophotonics Market:
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.), among others.
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Market Segmentation:
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
Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
– Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
– North America (United States, Mexico & Canada)
– South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
– Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
– Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).
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.
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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.
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