Tracking Cell Dynamics and Drug Delivery Becomes Easy With The Advent Of Biophotonics
Goldstein Research analyst forecast the global biophotonics market size is set to reach USD 65.0 billion by 2024, at a CAGR of 10.2% over the forecast years. North America held the highest market share of 37.5% in the overall biophotonics market closely followed by Europe as German companies and policy-makers are retaining and expanding the existing close cooperation between researchers, companies, and doctors.
Biophotonics deal with light interaction in biological substances such as tissues and cells at a scale from microns to the nano-level range. It plays an important role in healthcare services by lowering down the treatment cost along with suitable methodology foraging society. Biophotonics comprises of optics, nanotechnology, photonics, and biotechnology.
According to Goldstein Research, global biophotonics market is segmented on the basis of application and by end-user. On the basis of end user, the medical sector dominated with 55% of total biophotonics market share while demand for biophotonics from non-medical sectors is expected to gain momentum in the coming years and is expected to grow at the rate of 12.7% over the forecast years due to wide range of chemicals, toxins, and microbiological materials are used in warfare and terror attacks. APAC is also gaining the strength by adopting the policies that are needed to increase the commercialization of promising biophotonics innovations and being the most opportunistic market for biophotonics.
Global Biophotonics Market Outlook, 2016-2024 covers the present ground scenario and future opportunity prospects for the market players to analyze the target markets across the globe. Moreover, the competitive analysis includes the in-depth analysis of the major players and leaders in the healthcare industry. The market study conducted on the basis of primary as well as secondary research where the analysts fragment the data from various databases such as Bloomberg, Factiva, Owler, and others. Our primary research team conducted various interviews, surveys and group discussions of industry biophotonics manufacturers, suppliers, and distributors, pharmaceutical & biotechnology companies, healthcare institutions, clinical centers, medical research laboratories and academic medical centers and universities to analyze the future prospects of the overall healthcare industry.
Global Biophotonics Market Segmentation can be classified on the basis of:
By Application
- See Through Imaging
- Inside Imaging
- Spectro molecular
- Surface Imaging
- Microscopy
- Light Therapy
- Biosensors
- Analytics Sensing
By End User
- Medical
- Medical Diagnostics
- Medical Therapeutics
- Test & Components
- Non-Medical
- Defense
- Environmental Monitoring
By Geography
- North America (US, Canada) Biophotonics Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
- Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) Biophotonics Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
- Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) Biophotonics Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
- Latin America (Brazil, Mexico and Rest of Latin America)Biophotonics Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
- Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) Biophotonics Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
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Market Trends, Drivers & Challenges
The ongoing trend of the precision characteristic of biophotonics is driving the market, for instance, instruments like laser scanning systems, optical coherence tomography, and laser polarimetry are used to acquire the precise knowledge of retinal tissues and vessels. Major driving factor for biophotonics market is its application in laser processing of tissues methods such as incision, coagulation, and excision follow various laser-tissue interaction procedures. These are involved as clinical measures in various medical fields such as ophthalmology, gynecology, urology, dentistry, and surgery of ear, nose, and throat. Intense control over the laser systems enhance the performance of treatments with high precision and also help to avoid harmful effects to the nearby tissues. However, the hurdles in the medical technology industry are high: tens and often hundreds of millions of dollars of investment can be needed to gain regulatory approval, and there is often significant risk regarding whether or not companies will be reimbursed sufficiently by insurance organizations for their products.
“Global Biophotonics Market Report” has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the market space. The report also includes Porter's five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global biophotonics market report also recognizes value chain analysis to understand the cost differentiation to provide the competitive advantage to the existing and new entry players.
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