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Biophotonics Market

Biophotonics Market (End Use: Medical Therapeutics, Medical Diagnostics, Tests & Components, and Non-medical; and Application: Surface Imaging, Other Analytics Sensing, Inside Imaging, Microscopy, See-through Imaging, Light Therapy, Biosensors, and Spectro Molecular) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027

Biophotonics Market: Overview

  • Biophotonics is a term derived from the combination of photonics and biology. Photons are central entity in the field of information technology in the same manner as electrons are in electronics. Biophotonics is the application and development of optical methodology such as imaging and diagnosing to study cells and tissues. It refers to detection, emission, absorption, modification, reflection, and creation of radiation from tissues, organisms, biomaterials, and cells. Major applications of biophotonics are in the fields of life sciences, agriculture, environmental science, and medicine.

Biophotonics Market: Key Drivers

  • Increasing demand for high-quality healthcare and growing elderly population are major factors driving the global biophotonics market. The major benefit of using biophotonics is that it preserves the cells for a specific period when they are examined. Apart from this, advancements of optical technologies in aerospace and telecom industries and availability of funds for research and development are also propelling the global biophotonics market.
  • In addition, rising demand for minimally invasive surgeries and increasing awareness about food security are expected to drive the global biophotonics market during the forecast period. Increasing demand for non-medical applications, including prevention of unauthorized access to data and detection of pathogens in agricultural food products, offers growth opportunities to the market.

Biophotonics Market: Major Regions

  • North America accounted for the leading market share in 2018. The region is expected to attract high investments in the near future. At the same time, high-end research is expected to be conducted in the field of biophotonics in the region in the next few years. In addition, increasing number of cancer patients and rising demand for non-medical applications, primarily in the field of food security in North America, are factors responsible for dominance of the region.
  • Moreover, Asia Pacific is expected to be the most rapidly expanding biophotonics market in the next few years. Growing elderly population and increasing healthcare expenditure are key factors fueling the market in Asia Pacific.
global biophotonics market

Biophotonics Market: Key Segments

  • Medical diagnostics was the leading end use segment of the global biophotonics market in 2018. On the other hand, the non-medical segment is expected to register the most rapid growth rate from 2019 to 2027. Rising use in the detection of pathogens in agricultural food items, need for constant blood monitoring, and need to prevent unauthorized access to data are driving the non-medical applications segment.
  • Among applications, see-through imaging was the leading segment in 2018, owing to rising demand for minimally invasive surgeries and the large number of applications of biophotonics in the field of oncology, cardiology, neurology, and brain imaging. However, the biosensors segment is expected to register the maximum growth rate during the forecast period. Increasing prevalence for diabetes, rising awareness about food security, and surging demand for prevention of unauthorized access are major drivers of the market in the next few years.

Major Players

  • Major participants in the global biophotonics market are
  • Olympus Corporation (Japan)
  • Affymetrix Inc. (the U.S.)
  • Hamamatsu Photonics K.K. (Japan)
  • Oxford Instruments Plc. (the U.K.)
  • Becton Dickinson & Co. (the U.S.)
  • Carl Zeiss A.G. (Germany)
  • PerkinElmer, Inc. (the U.S.)

Advances in Biophotonics Market Pave Way to New Avenues in Disease Diagnostics

Biophotonics encompasses studying various optical processes in biological systems, whether they are bioengineered or occur naturally. The novel, emerging discipline straddles across four distinct areas comprising lasers, photonics, nanotechnology, and biotechnology. Potential use in diseases diagnostic is fast emerging as a new avenue shaping the evolution of the biophotonics market. An array of biophotonics is harnessed by clinicians to assess biological properties of tissues to make a better clinical assessment of breast cancer. The use of optical biopsy uses near-infrared (NIR) light is a case in point. Another application area that is fast emerging is chronic wound healing. The growing use of photobiomodulation therapy in diabetic wound healing is a case in point. Diabetic wound management is a fast emerging arena in health care, given the marked morbidity diabetes has worldwide. Both acute and chronic wound management calls for novel approaches, and proponents of biophotonics see a promising opportunity. The growing prospect of photodynamic-based approaches in disease diagnostics is a key trend in the biophotonics market. Over the years, the lifesciences industry has witnessed a growing assortment of biophotonic imaging methods being put to test. Growing research and development activities related to cellular level diagnosis have expanded the canvas for players in the biophotonics market.

The COVID-19 pandemic and its outcomes over the past few months in 2020 and 2021 have nudged industries to adopt new business models and strategies to remain agile and productive. The healthcare industry and the diagnostics and therapeutics technologies also saw new dynamics in the demand and consumption patterns. The biophotonics market is expected to see spate of new research in the coming years, given the growing focus on managing chronic diseases worldwide. In addition, advancements in optics will pave way to new capabilities in biophotonics that can be used other biomedical applications. A case in point is in the food industry.

    1. Preface

        1.1. Research description

        1.2. Research Scope

        1.3. Research Methodology

    2. Executive Summary

    3. Market Overview

        3.1. Introduction

        3.2. Market Dynamics

            3.2.1. Drivers

                3.2.1.1. Demand for high-quality healthcare

                3.2.1.2. Advancement of optical technologies in aerospace and telecom industries

                3.2.1.3. Availability of funds for research and development

                3.2.1.4. Growth of elderly population

            3.2.2. Restraints

                3.2.2.1. High prices of biophotonics-based instruments

                3.2.2.2. Complexity of biophotonics technology

            3.2.3. Opportunities

                3.2.3.1. Increasing demand for non-medical applications

        3.3. Porter’s Five Forces Analysis

            3.3.1. Bargaining power of suppliers

            3.3.2. Bargaining power of buyers

            3.3.3. Threat of substitutes

            3.3.4. Threat of new entrants

            3.3.5. Degree of Competition

        3.4. Market Trends and Future Outlook

        3.5. Value Chain Analysis

        3.6. Market Attractiveness Analysis

        3.7. Global Biophotonics Market Share, by Key Players

    4. Global Biophotonics Market Analysis, by End-use

        4.1. Overview

        4.2. Tests & Components

            4.2.1. Market Size and Forecast, 2019-2027

        4.3. Medical Therapeutics

            4.3.1. Market Size and Forecast, 2019-2027

        4.4. Medical Diagnostics

            4.4.1. Market Size and Forecast, 2019-2027

        4.5. Non-medical Applications

            4.5.1. Market Size and Forecast, 2019-2027

    5. Global Biophotonics Market Analysis, by Application

        5.1. Overview

        5.2. See-through Imaging

            5.2.1. Market Size and Forecast, 2019-2027

        5.3. Microscopy

            5.3.1. Market Size and Forecast, 2019-2027

        5.4. Inside Imaging

            5.4.1. Market Size and Forecast, 2019-2027

        5.5. Spectro Molecular

            5.5.1. Market Size and Forecast, 2019-2027

        5.6. Other Analytics Sensing

            5.6.1. Market Size and Forecast, 2019-2027

        5.7. Light Therapy

            5.7.1. Market Size and Forecast, 2019-2027

        5.8. Surface Imaging

            5.8.1. Market Size and Forecast, 2019-2027

        5.9. Biosensors

            5.9.1. Market Size and Forecast, 2019-2027

    6. Global Biophotonics Market Analysis, by Geography

        6.1. Overview

        6.2. North America

            6.2.1. North America Biophotonics Market Value (US$ Bn) Forecast, 2019-2027

            6.2.2. North America Biophotonics Market Value (US$ Bn) Forecast, by End-use, 2019-2027

            6.2.3. North America Biophotonics Market Value (US$ Bn) Forecast, by Application, 2019-2027

        6.3. Europe

            6.3.1. Europe Biophotonics Market Value (US$ Bn) Forecast, 2019-2027

            6.3.2. Europe Biophotonics Market Value (US$ Bn) Forecast, by End-use, 2019-2027

            6.3.3. Europe Biophotonics Market Value (US$ Bn) Forecast, by Application, 2019-2027

        6.4. Asia Pacific

            6.4.1. Asia Pacific Biophotonics Market Value (US$ Bn) Forecast, 2019-2027

            6.4.2. Asia Pacific Biophotonics Market Value (US$ Bn) Forecast, by End-use, 2019-2027

            6.4.3. Asia Pacific Biophotonics Market Value (US$ Bn) Forecast, by Application, 2019-2027

        6.5. Rest of World

            6.5.1. Rest of World Biophotonics Market Value (US$ Bn) Forecast, 2019-2027

            6.5.2. Rest of World Biophotonics Market Value (US$ Bn) Forecast, by End-use, 2019-2027

            6.5.3. Rest of World Biophotonics Market Value (US$ Bn) Forecast, by Application, 2019-2027

    7. Company Profiles

        7.1. Olympus Corporation

            7.1.1. Company Overview

            7.1.2. Financial Overview

            7.1.3. Business Strategy

            7.1.4. SWOT Analysis

            7.1.5. Recent Developments

        7.2. Affymetrix Inc.

            7.2.1. Company Overview

            7.2.2. Financial Overview

            7.2.3. Business Strategy

            7.2.4. SWOT Analysis

            7.2.5. Recent Developments

        7.3. Hamamatsu Photonics K.K.

            7.3.1. Company Overview

            7.3.2. Financial Overview

            7.3.3. Business Strategy

            7.3.4. SWOT Analysis

            7.3.5. Recent Developments

        7.4. Oxford Instruments Plc

            7.4.1. Company Overview

            7.4.2. Financial Overview

            7.4.3. Business Strategy

            7.4.4. SWOT Analysis

            7.4.5. Recent Developments

        7.5. Becton Dickinson & Co.

            7.5.1. Company Overview

            7.5.2. Financial Overview

            7.5.3. Business Strategy

            7.5.4. SWOT Analysis

            7.5.5. Recent Developments

        7.6. Carl Zeiss A.G.

            7.6.1. Company Overview

            7.6.2. Financial Overview

            7.6.3. Business Strategy

            7.6.4. SWOT Analysis

            7.6.5. Recent Developments

        7.7. PerkinElmer, Inc.

            7.7.1. Company Overview

            7.7.2. Financial Overview

            7.7.3. Business Strategy

            7.7.4. SWOT Analysis

            7.7.5. Recent Developments

    List of Tables

    TABLE 1: Global Biophotonics Market Snapshot

    TABLE 2: Global Biophotonics Market Value (US$ Bn) Forecast, by End-use, 2019-2027

    TABLE 3: Drivers of Global Biophotonics Market: Impact Analysis

    TABLE 4: Restraints of Global Biophotonics Market: Impact Analysis

    TABLE 5: Prices of Biophotonics-based Instruments

    TABLE 6: North America Biophotonics Market Value (US$ Bn) Forecast, by End-use, 2019-2027

    TABLE 7: North America Biophotonics Market Value (US$ Bn) Forecast, by Application, 2019-2027

    TABLE 8: Europe Biophotonics Market Value (US$ Bn) Forecast, by end-use, 2019-2027

    TABLE 9: Europe Biophotonics Market Value (US$ Bn) Forecast, by application, 2019-2027

    TABLE 10: Asia Pacific Biophotonics Market Value (US$ Bn) Forecast, by end-use, 2019-2027

    TABLE 11: Asia Pacific Biophotonics Market Value (US$ Bn) Forecast, by application, 2019-2027

    TABLE 12: Rest of World Biophotonics Market Value (US$ Bn) Forecast, by end-use, 2019-2027

    TABLE 13: Rest of World Biophotonics Market Value (US$ Bn) Forecast, by application, 2019-2027

    List of Figures

    FIG. 1: Market Segmentation: Global Biophotonics Market

    FIG. 2: Per Capita Health Care Expenditure (US$), 2015-2017

    FIG. 3: Population, by Age Group, July 2018 (Billion)

    FIG. 4: Population aged 80 years or above: world, 2015-2018 (Billion)

    FIG. 5: Global Biophotonics Market, Porter’s Five Forces Analysis

    FIG. 6: Global Biophotonics Market, Value Chain Analysis

    FIG. 7: Global Biophotonics Market Attractiveness, by Application, 2018

    FIG. 8: Global Biophotonics Market Share, by Key Biophotonics Vendors, 2018 (Value %)

    FIG. 9: Global Biophotonics Market Size and Forecast, 2019 vs. 2027 (Value %)

    FIG. 10: Global Biophotonics Market Value (US$ Bn) Forecast, by Tests & Components, 2019-2027

    FIG. 11: Global Biophotonics Market Value (US$ Bn) Forecast, by Medical Therapeutics, 2019-2027

    FIG. 12: Global Biophotonics Market Value (US$ Bn) Forecast, by Medical Diagnostics, 2019-2027

    FIG. 13: Global Biophotonics Market Value (US$ Bn) Forecast, by Non-medical Applications, 2019-2027

    FIG. 14: Global Biophotonics Market Size and Forecast, 2019 vs. 2027 (Value %)

    FIG. 15: Global Biophotonics Market Value (US$ Bn) Forecast, by See-through Imaging, 2019-2027

    FIG. 16: Global Biophotonics Market Value (US$ Bn) Forecast, by Microscopy, 2019-2027

    FIG. 17: Global Biophotonics Market Value (US$ Bn) Forecast, by Inside Imaging, 2019-2027

    FIG. 18: Global Biophotonics Market Value (US$ Bn) Forecast, by Spectro Molecular, 2019-2027

    FIG. 19: Global Biophotonics Market Value (US$ Bn) Forecast, by Other Analytics Sensing, 2019-2027

    FIG. 20: Global Biophotonics Market Value (US$ Bn) Forecast, by Light Therapy, 2019-2027

    FIG. 21: Global Biophotonics Market Value (US$ Bn) Forecast, by Surface Imaging, 2019-2027

    FIG. 22: Global Biophotonics Market Value (US$ Bn) Forecast, by Biosensors, 2019-2027

    FIG. 23: Global Biophotonics Market, by Geography, 2019 vs. 2027 (Value %)

    FIG. 24: North America Biophotonics Market Value (US$ Bn) Forecast, 2019-2027

    FIG. 25: Europe Biophotonics Market Value (US$ Bn) Forecast, 2019-2027

    FIG. 26: Asia Pacific Biophotonics Market Value (US$ Bn) Forecast, 2019-2027

    FIG. 27: Rest of World Biophotonics Market Value (US$ Bn) Forecast, 2019-2027

    FIG. 28: Olympus Corporation Annual Revenue, 2016-2018, (US$ Bn)

    FIG. 29: Affymetrix Inc. Annual Revenue, 2016-2018, (US$ Mn)

    FIG. 30: Hamamatsu Photonics K.K. Annual Revenue, 2016-2018, (US$ Mn)

    FIG. 31: Oxford Instruments Plc Annual Revenue, 2016-2018, (US$ Mn)

    FIG. 32: Becton Dickinson And Co. Annual Revenue, 2016-2018, (US$ Bn)

    FIG. 33: Carl Zeiss AG Annual Revenue, 2016-2018, (US$ Bn)

    FIG. 34: PerkinElmer, Inc. Annual Revenue, 2016-2018, (US$ Bn)

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Biophotonics Market

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