Biophotonics Market Size Worth USD 118.89 Billion By 2027 | Emergen Research
The global Biophotonics Market is projected to reach USD 118.89 billion by 2027, according to a recent report by Emergen Research. The growing demand for this technology in the healthcare sector is driving the growth of the market. Biophotonics are optical techniques that are used to measure, process, and detect biological signals. They are used in a variety of applications such as medical imaging, drug discovery, and cancer treatment. This technology is increasingly being used in the healthcare sector due to its advantages over traditional methods.
The healthcare sector is the largest end-use industry for biophotonics. The growing demand for this technology in the healthcare sector is driven by the increasing prevalence of chronic diseases, the need for early diagnosis, and the rising aging population. Biophotonics are used in a variety of applications in the healthcare sector such as medical imaging, drug discovery, and cancer treatment.
The developments in optical technologies and recent progress in nanotechnology have opened new frontiers in the field of medicine and healthcare. Biophotonics technology assists in performing various biomedical tasks that were earlier not possible using conventional methods. The utilization of this technology is increasing day by day as it provides quick, accurate, and non-invasive diagnosis and treatment procedures for various diseases. Biophotonics technology is utilized in various medical applications such as imaging, drug discovery and delivery, cancer treatment, and others.
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Some Key Highlights from the Report
- The medical imaging segment is expected to grow at the highest CAGR during the forecast period. Medical imaging is an important application of biophotonics. It helps in early diagnosis of diseases and provides detailed information about the internal organs of the body.
- The non-medical end-use segment is expected to register the fastest revenue CAGR during the forecast period due to the rapid expansion of the cosmetics industry and the ever-growing demand for beauty products.
- The medical applications segment is expected to hold a significant market share in 2019 due to the large number of ongoing research & development activities aimed at developing new diagnostic and therapeutic tools based on biophotonics technology.
- The in-vivo segment is expected to register the fastest revenue CAGR during the forecast period due to the ever-growing demand for minimally invasive procedures. In addition, the development of new generation contrast agents is expected to fuel the growth of this segment.
- The laboratory equipment segment is expected to hold a significant market share in 2019 due to the large number of ongoing research & development activities aimed at developing new diagnostic and therapeutic tools based on biophotonics technology.
- The North American region is expected to hold the largest market share in 2019 due to the large number of biophotonics research & development activities being carried out in the region. In addition, the presence of a large number of major market players in the region is also expected to contribute to the growth of the market.
- Key players in the market include Andor Technology Ltd, Becton, Dickinson and Company, FEI Company, Lumenis Ltd., Zecotek Photonics Inc., Carl Zeiss AG, Hamamatsu Photonics K.K. and Affymetrix, Inc. among others.
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For the purpose of this report, Emergen Research has segmented into the global Biophotonics Market on the basis of technology, application, end user and region:
Technology Outlook (Revenue, USD Billion; 2017-2027)
- In-vivo
- In-vitro
Application Outlook (Revenue, USD Billion; 2017-2027)
- Endoscopy
- Spectromolecular
- Surface Imaging
- Microscopy
- Light Therapy
- Biosensors
End User Outlook (Revenue, USD Billion; 2017-2027)
-
- Medical Diagnostics
- Medical Therapeutics
- Test Components
Regional Outlook (Revenue: USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
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