Biophotonics Market Share 2021: Global Trends, Key Players, Industry Analysis Report to 2027

Biophotonics Market is projected to grow at a significant CAGR during the forecast period from 2021 to 2027. Major factors boosting the market growth are increasing demand for accurate early diagnosis of disease, and advances in optical technologies. Besides this, emerging markets in developing economies along with usage of biophotonics in the non-medical sector are likely to provide a number of opportunities to the market. Moreover, the growing geriatric population across the globe is another major factor that is boosting the market growth in recent years. Furthermore, with aging, the chances of chronic diseases such as cardiovascular diseases (CVDs) and others also get higher which surges the demand for early diagnostic and surgical techniques across the globe.

However, factors such as slow adoption rate due to low acceptance from end-users, cost-benefit inefficiency, and lack of skilled professional are likely to hamper the market growth over the forecast period.North America is expected to dominate the market over the forecast period owing to the US government’s initiatives taken to develop the biophotonics industry. Asia-Pacific is poised to show the highest growth over the forecast period. The lucrative growth of the Asia-Pacific region is attributed to the emerging healthcare sector in emerging economies such as China, India, South Korea, and Indonesia of the region. Major companies that are involved in the development of biophotonics are Thermo Fisher Scientific, Inc., Olympus Corp., PerkinElmer, Inc., Bruker Corp., and Andor Technology Ltd. 

The following Segmentation are covered in this report:

By Technology

• In-Vitro
• In-Vivo

By End-user

• Medical Diagnostic
• Medical Therapeutic
• Medical Monitoring
•  Others (Non-Medical such as Agriculture)

By Application

• Microscopy
•  Biosensors
• Imaging
•  Other Applications (Spectro-Molecular, Light Application)

By Region

North America:

• US
• Canada

Europe:

• France
• Italy
• Germany
• UK
• Rest of Europe

Asia Pacific:

• India
• China
• Japan
• Australia
• Rest of APAC

Scope of the Report

The research study analyses the global Biophotonics industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:

Recent Developments

• Market Overview and growth analysis
• Import and Export Overview
• Volume Analysis
• Current Market Trends and Future Outlook
• Market Opportunistic and Attractive Investment Segment

Geographic Coverage

• North America Market Size and/or Volume
• Latin America Market Size and/or Volume
• Europe Market Size and/or Volume
• Asia-Pacific Market Size and/or Volume
• Rest of the world Market Size and/or Volume

Key Questions Answered by Biophotonics Market Report

• What was the Biophotonics Market size in 2019 and 2020; what are the estimated growth trends and market forecast (2021-2027).
• What will be the CAGR of Biophotonics Market during the forecast period (2021-2027)?
• Which segments (product type/applications/end-user) were most attractive for investments in 2018? How these segments are expected to grow during the forecast period (2021-2027).
• Which manufacturer/vendor/players in the Biophotonics Market was the market leader in 2020?
• Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.