Global Biophotonics Market Growth 2024, Forecast To 2033
9 Jan, 2024
The biophotonics market has exhibited rapid growth, increasing from $74.36 billion in 2023 to $82.74 billion in 2024, achieving an 11.3% CAGR. Historical growth is attributed to medical imaging advancements, disease diagnosis and monitoring, life sciences research, optical sensing and spectroscopy, and laser and light source innovations. Future growth is anticipated, with the market poised to reach $130.07 billion by 2028, sustaining a 12.0% CAGR. Drivers for this growth include personalized medicine, precision agriculture, global health initiatives, wearable and mobile health devices, and environmental monitoring and safety. Major trends encompass miniaturization and point-of-care devices, multimodal imaging, optogenetics, machine learning and data analytics, and smart imaging probes.
Global Biophotonics Market Key Driver
The biophotonics market is experiencing growth driven by the rising demand for minimally invasive surgeries. Optical engineering and imaging technologies play a crucial role in visualizing tissue manipulation during minimally invasive surgeries. With a reported 10 million surgeries by Intuitive Surgical, Inc. in 2021, the global surge in minimally invasive surgeries is boosting revenues for the biophotonics market.
Get A Free Sample Of The Global Biophotonics Market ReportGlobal Biophotonics Market Segments
The biophotonics market covered in this report is segmented –
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
By Geography: The regions covered in the biophotonics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions
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
Major Biophotonics Industry Players
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.
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Biophotonics Market Overview
Biophotonics is the combination of photonics and biology and is a multidisciplinary research field embracing all light-based technologies applied to life sciences and medicine. It is used to examine, control, and track biological processes at various levels of biology: cellular, tissue, molecular, and organism level.
Biophotonics Global Market Report 2023 provides data on the global biophotonics market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The biophotonics market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.