The Business Research Company’s latest report Biophotonics Global Market Report 2020 covers Biophotonics market drivers, Biophotonics market trends, Biophotonics market segments, Biophotonics market growth rate, Biophotonics market major players, and Biophotonics market size. The report provides in-depth analysis of the impact of COVID-19 on the Biophotonics industry, along with revised market numbers due to the effects of the coronavirus.
Biophotonics Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.
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The global biophotonics market is expected to decline from $46.61 billion in 2019 to $41.21 billion in 2020 at a compound annual growth rate (CAGR) of -11.58%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $55.13 billion in 2023 at a CAGR of 10.18%.
The report covers the biophotonics market’s segments-
1) By Product Technology: In-Vitro, In-Vivo
2) By Application: See-Through Imaging, Inside Imaging, Spectro-molecular, Surface Imaging, Microscopy, Light Therapy, Biosensors, Others.
3) By End Use: Diagnostics, Therapeutic, Tests, Others.
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