Biophotonics deals with the development and application of optical technology to the study of biological molecules, cells, and tissue. Global Biophotonics market is expected to grow significantly over the forecast period. Major factors boosting the market growth are increasing demand for accurate early diagnosis of disease, and advances in optical technologies. However, factors such as slow adoption rate due to low acceptance from end-users, cost-benefit inefficiency, and lack of skilled professional are likely to hamper the market growth over the forecast period. Besides this, emerging markets in developing economies along with usage of biophotonics in the non-medical sector are likely to provide a number of opportunities to the market.
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Moreover, the growing geriatric population across the globe is another major factor that is boosting the market growth in recent years. Aging is inevitable, and it comes with many associated diseases leading elder people to develop a disease such as psychiatric disorders. Moreover, with aging, the chances of chronic diseases such as cardiovascular diseases (CVDs) and others also get higher which surges the demand for early diagnostic and surgical techniques across the globe. According to the United Nations, the number of people aged 60 years and more in 2017 was 962 million. This number is expected to get doubled by 2050, and tripled by 2100. Global population with age 60 and more is growing faster as compared to the population of younger age groups. Moreover, it is inferred from the data available from United Nations that population (962 million) with age 60 and more accounts for 13% of the global population and his aging population is growing with the rate of around 3% per year. Currently, Europe holds the largest share of the aging population that is 25% across the globe. Other parts of the world are also likely to witness aging as well. By 2050, a quarter or approximately half of the population of all the region of the world will age 60 or above. The number of the aging population across the globe is expected to reach 1.4 billion by 2030; 2.1 billion by 2050; and 3.1 billion by 2100.
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Market Segmentation
Global Biophotonics Market by Technology
- In-Vitro
- In-Vivo
Global Biophotonics Market by Application
- Microscopy
- Biosensors
- Imaging
- Other Applications (Spectro-Molecular, Light Application)
Global Biophotonics Market by End-Use
- Medical Diagnostic
- Medical Therapeutic
- Medical Monitoring
- Others (Non-Medical such as Agriculture)
Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
Rest of the World
Company Profiles
- Agilent Technologies, Inc.
- Andor Technology Ltd.
- Becton, Dickinson & Co.
- Biophotonic Solutions, Inc.
- Bio-Rad Laboratories Inc.
- Bruker Corp.
- Carl Zeiss Meditec AG
- Clearbridge BioPhotonics Pte Ltd
- Coherent, Inc.
- DYSIS Medical Ltd.
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