Biophotonics Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 10.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Biophotonics Market Analysis
The Biophotonics Market is poised to grow at a CAGR of 10.5% in the forecast period (2022-2027).
The COVID-19 outbreak had an impact on the biophotonics market because end-user facilities, such as hospitals and other healthcare services, were heavily impacted due to government norms, such as social distancing, across the world. Additionally, the COVID-19 pandemic affected the economy and impacted the functioning of hospital care for non-COVID-19 patients in hospitals and other end-user facilities across the world. For instance, in December 2021, a report published in the National Library of Medicine stated that antiviral photodynamic therapy (aPDT) might improve the efficacy of photobiomodulation therapy (PBMT) and aPDT by using monoclonal antibodies and preparing new photosensitizers at the nanoscale that target the lung tissue specifically. Similarly, in October 2020, a paper named 'Photodynamic therapy for COVID-19" was published, which stated that in some clinical settings, there might be an incremental benefit in combining photodynamic therapy and sonodynamic therapy. However, the norms of the governments and the preference for other therapies are expected to hinder the overall market growth.
The key factors propelling the growth of this market are the growing geriatric population, increasing use of biophotonics in cell and tissue diagnostics, the emergence of nanotechnology in biophotonics, and the development of novel photoacoustic tomography (PAT) systems. Research in biology has shifted from the level of the cell to viruses and cellular constituents, such as proteins and nucleic acids. Tools for the investigation of these constituents must operate on the same scale, shifting focus from micro-scale to nanoscale. As a result, nanotechnology's applications in imaging biological processes for analyzing biological materials have been increasing. Gold and iron nanoparticles are used in biomedical imaging. For instance, in February 2022, as per the article by science direct estimates that the gold nanoparticle is used by researchers of the University of Rochester on the tip of an optical fiber as an antenna to enhance the fluorescence of labeled proteins in the cell membrane. Gold nanoparticles are also used along with a laser to destroy cancer cells. In comparison, silica nanoparticles are less toxic than gold nanoparticles and can be targeted against specific pathogens or tumors.
These nanoparticles can also carry chemotherapy drugs directly to tumors, reducing the harmful effects of these drugs on the body. The increasing benefits of biophotonics are expected to drive the market. However, the lack of awareness of biophotonics technology skilled personnel and the high cost of technology is hampering the growth of the market.
Biophotonics Market Trends
This section covers the major market trends shaping the Biophotonics Market according to our research experts:
Inside Imaging (Endoscopy) Segment is Expected to Witness Growth Over the Forecast Period
In the technology segment of the biophotonics market, inside imaging (endoscopy) is expected to have the largest market size in the forecast period. An endoscopy (looking inside) is a procedure utilized in medicine to look inside the body. The endoscopy procedure utilizes an endoscope to examine the interior of a hollow organ or cavity of the body. Unlike many other medical imaging techniques, endoscopes are inserted directly into the organ.
The integration of detection, characterization, diagnosis, and staging during the time of endoscopy is still an unmet medical need. The beginning of biophotonics in endoscopy has unlocked new prospects and created some significant and new opportunities for the enhanced identification and biochemical characterization of diseases. The most appropriate and useful method for categorizing biophotonic endoscopic techniques can be according to their ability to provide functional and biochemical information and enhance spatial resolution. SHG (second harmonic generation), fa/LCI (frequency-domain angle-resolved low coherence interferometry), and near-IR (near-infrared) technologies are some of the commonly used visualization technologies. One of the most useful applications of biophotonics in medicine is photodynamic therapy. The treatment is used for cancer but can also be used on acne and psoriasis. Such application of these technologies drives the demand in the biophotonics market.
Key players are constantly engaged in R&D activities, developing innovative technologies and new product development to enhance the efficacy and accuracy of the endoscopy treatment. For instance, In August 2020, Stryker Corporation launched their 1688 AIM 4K Visualization platform, and the Connected OR Hub, that help in enhancing the surgical experience for arthroscopy. Hence, the commercialization of such advanced endoscopes would accelerate business growth over the forecast year.
North America Dominates the Market and is Expected to do Same in the Forecast Period
North America currently dominates the biophotonics market and is expected to continue its stronghold for a few more years. The United States is a major market in the biophotonics industry. In addition, the emergence of nanotechnology has driven the biophotonics market in the United States.
In November 2020, Jenoptik Light and Optics Biophotonics Group won several new development orders in North America. The first order is for the design of the camera system for a next-generation fiber-optic medical device to be used in a robotic surgical instrument. The second development project is for the design of multiple subassemblies for a tier-1 eye care company's next-generation ophthalmology surgery system. For the third program, Jenoptik is teaming with a major global supplier of medical laboratory equipment to supply a next-generation automated microscope for inline cellular analysis. The fourth project is the continuation of a long-standing partnership with a medical diagnostics company specializing in real-time point of care (POC) serology tests.
The significant advances in technology have raised the role of optical techniques in treating problems related to medical and life science. The optical technology is being used for various applications, including clinical treatment of patients and investigations carried out at the molecular level. A rising number of conferences to study the advances in biophotonics and other optical techniques are being carried out in the United States. The Optical Society carried out OSA Biophotonics Congress where they discussed the advancements done in applications such as optical instrumentation, life science imaging, molecular probe development, and others. Additionally, United States Congress has provided various funds from the FY20120 budget to determine opportunities for biophotonics in gene therapy research, immunotherapy research, Alzheimer's research, and other projects. The funds would also be provided to increase medical technology manufacturing in the United States.
Thus, these initiatives may fuel the growth of the biophotonics market over the forecast period in North America.
Biophotonics Industry Overview
Companies such as Thermo Fisher Scientific, NU Skin Enterprises, Becton, Dickinson and Company, Glenbrook Technologies, Hamamatsu Photonics KK, Olympus Corporation, Carl Zeiss AG, Oxford Instruments PLC, Zenalux Biomedical Inc., PerkinElmer are some of the key players in the biophotonics market. With the increase in technological advancements in the imaging industry, healthcare companies are making efforts to offer efficient and novel products to customers. Therefore, it is believed that there might be an emergence of more new players in the future.
Biophotonics Market Leaders
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Thermofisher Scientific
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Becton, Dickinson and Company
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Hamamatsu Photonics KK
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Olympus Corporation
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Carl Zeiss AG
*Disclaimer: Major Players sorted in no particular order
Biophotonics Market News
- In March 2021, Zeiss expanded its presence in North America by launching new research and development, production, sales, and customer service center in the United States with an investment of USD 180 million. The new site will incorporate the X-ray Microscopy business, along with the ZEISS Microscopy Customer Center, to provide support for the opportunities in materials research, life sciences, and industrial applications.
- In November 2021, Oxford Instruments launched BC43, a compact microscopy device. This device can provide real-time 3D imaging to the users
Biophotonics Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Growing Geriatric Population
- 4.2.2 Increasing Use of Biophotonics in Cell and Tissue Diagnostics
- 4.2.3 Emergence of Nanotechnology in Biophotonics
- 4.2.4 Development of Novel Photoacoustic Tomography (PAT) System
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4.3 Market Restraints
- 4.3.1 Lack of Awareness of Biophotonics Technology and Skilled Personnel
- 4.3.2 High Cost of Technology
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Technology
- 5.1.1 Surface Imaging
- 5.1.2 Inside Imaging
- 5.1.3 See-through Imaging
- 5.1.4 Microscopy
- 5.1.5 Biosensors
- 5.1.6 Medical Lasers
- 5.1.7 Spectromolecular
- 5.1.8 Other Technologies
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5.2 Geography
- 5.2.1 North America
- 5.2.1.1 United States
- 5.2.1.2 Canada
- 5.2.1.3 Mexico
- 5.2.2 Europe
- 5.2.2.1 Germany
- 5.2.2.2 United Kingdom
- 5.2.2.3 France
- 5.2.2.4 Italy
- 5.2.2.5 Spain
- 5.2.2.6 Rest of Europe
- 5.2.3 Asia-Pacific
- 5.2.3.1 China
- 5.2.3.2 Japan
- 5.2.3.3 India
- 5.2.3.4 Australia
- 5.2.3.5 South Korea
- 5.2.3.6 Rest of Asia-Pacific
- 5.2.4 Middle East and Africa
- 5.2.4.1 GCC
- 5.2.4.2 South Africa
- 5.2.4.3 Rest of Middle East and Africa
- 5.2.5 South America
- 5.2.5.1 Brazil
- 5.2.5.2 Argentina
- 5.2.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Thermo Fisher Scientific
- 6.1.2 NU Skin Enterprises
- 6.1.3 Becton, Dickinson and Company
- 6.1.4 Glenbrook Technologies
- 6.1.5 Hamamatsu Photonics KK
- 6.1.6 Olympus Corporation
- 6.1.7 Carl Zeiss AG
- 6.1.8 Oxford Instruments PLC
- 6.1.9 Zenalux Biomedical Inc.
- 6.1.10 PerkinElmer
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Biophotonics Industry Segmentation
As per the scope of the report, biophotonics is an emerging interdisciplinary research area dealing with all light-based technologies that are significantly used in the life sciences and medicine. This report gives a detailed analysis of the technologies that are available in the biophotonics market in various regions across the world. The market is segmented by technology (surface imaging, inside imaging, see-through imaging, microscopy, biosensors, medical lasers, spectromolecular, and other technologies) and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
| By Technology | Surface Imaging | |
| Inside Imaging | ||
| See-through Imaging | ||
| Microscopy | ||
| Biosensors | ||
| Medical Lasers | ||
| Spectromolecular | ||
| Other Technologies | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Biophotonics Market Research FAQs
What is the current Global Biophotonics Market size?
The Global Biophotonics Market is projected to register a CAGR of 10.5% during the forecast period (2024-2029)
Who are the key players in Global Biophotonics Market?
Thermofisher Scientific, Becton, Dickinson and Company, Hamamatsu Photonics KK, Olympus Corporation and Carl Zeiss AG are the major companies operating in the Global Biophotonics Market.
Which is the fastest growing region in Global Biophotonics Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Biophotonics Market?
In 2024, the North America accounts for the largest market share in Global Biophotonics Market.
What years does this Global Biophotonics Market cover?
The report covers the Global Biophotonics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Biophotonics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Biophotonics Industry Report
Statistics for the 2024 Biophotonics market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Biophotonics analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
