Biophotonics Market is projected to grow at a significant CAGR during the forecast period from 2021 to 2027. Major factors boosting the market growth are increasing demand for accurate early diagnosis of disease, and advances in optical technologies. 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. Moreover, the growing geriatric population across the globe is another major factor that is boosting the market growth in recent years. Furthermore, 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.
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.North America is expected to dominate the market over the forecast period owing to the US government’s initiatives taken to develop the biophotonics industry. Asia-Pacific is poised to show the highest growth over the forecast period. The lucrative growth of the Asia-Pacific region is attributed to the emerging healthcare sector in emerging economies such as China, India, South Korea, and Indonesia of the region. Major companies that are involved in the development of biophotonics are Thermo Fisher Scientific, Inc., Olympus Corp., PerkinElmer, Inc., Bruker Corp., and Andor Technology Ltd.
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A full report of Global Biophotonics Market is available at: https://www.orionmarketreports.com/biophotonics-market/11472/
The following Segmentation are covered in this report:
By Technology
- In-Vitro
- In-Vivo
By End-user
- Medical Diagnostic
- Medical Therapeutic
- Medical Monitoring
- Others (Non-Medical such as Agriculture)
By Application
- Microscopy
- Biosensors
- Imaging
- Other Applications (Spectro-Molecular, Light Application)
By Region
North America:
- US
- Canada
Europe:
- France
- Italy
- Germany
- UK
- Rest of Europe
Asia Pacific:
- India
- China
- Japan
- Australia
- Rest of APAC
The report covers the following objectives:
- Proliferation and maturation of trade in the global Biophotonics Market.
- The market share of the global Biophotonics Market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
- Current and future market trends that are influencing the growth opportunities and growth rate of the global Biophotonics Market.
- Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the global Biophotonics Market.
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
