The biophotonics global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Biophotonics Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The biophotonics market size has grown rapidly in recent years. It will grow from $74.36 billion in 2023 to $82.74 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to medical imaging advancements, disease diagnosis and monitoring, life sciences research, optical sensing and spectroscopy, laser and light source innovations.
The biophotonics market size is expected to see rapid growth in the next few years. It will grow to $130.07 billion in 2028 at a compound annual growth rate (CAGR) of 12.0%. The growth in the forecast period can be attributed to personalized medicine, precision agriculture, global health initiatives, wearable and mobile health devices, environmental monitoring and safety. Major trends in the forecast period include miniaturization and point-of-care devices, multimodal imaging, optogenetics, machine learning and data analytics, smart imaging probes.
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Scope Of Biophotonics Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Biophotonics Market Overview
Market Drivers –
The increasing demand for minimally invasive surgeries is contributing to the growth of the biophotonics market. Optical engineering and imaging technologies are playing a vital role in the evolving field of minimally invasive surgeries by enabling to visualize the manipulation of tissue at remote internal sites. According to a report by Intuitive Surgical, Inc., a US-based company specializing in minimally invasive care and the pioneer of robotic-assisted surgery, stated that they performed 10 million surgeries in 2021. Therefore, the surge in the number of minimally invasive surgeries annually worldwide is generating higher revenues for the biophotonics market.
Market Trends –
The launch of new advanced techniques in the field of biotechnology is a major trend shaping the biophotonics market. For instance, a team of scientists at the University of St. Andrews (Scotland) developed a fluorescence microscopy technique that allows imaging of delicate biological samples with low damage in neuroscience and biomedicine. This low-damage optical technique is projected to transform the world of biomedicine in the forthcoming years. Hence, the development of new and advanced techniques is gaining significant popularity in the biophotonics market.
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
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Regional Insights –
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
Key Companies –
Major companies operating in the biophotonics market include 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.
Table of Contents
1. Executive Summary
2. Biophotonics Market Report Structure
3. Biophotonics Market Trends And Strategies
4. Biophotonics Market – Macro Economic Scenario
5. Biophotonics Market Size And Growth
…..
27. Biophotonics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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