Biophotonics Market Sales Size Share Forecast 2027

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Biophotonics is a branch of science that deals with producing and using the photons of light to create an image, identify, and engineer biological materials. Biophotonics is a combination of four major technologies that include lasers, biotechnology, nanotechnology, and photonics. It has a biomedical application that covers light interactions in medicine and life-science for the health care sector.

Global biophotonics market was valued at US$ 49.0 billion in 2018 and is predicted to reach US$ 95.0 billion, growing at a CAGR of 8.3% during the forecast period (2019 to 2027).

Drivers:

Growing awareness regarding better healthcare solutions and increasing government initiatives to offer beneficial policies in order to boost healthcare and agriculture sectors is projected to propel the market growth of biophotonic. Moreover, increasing launch of new treatment based on biophotonic is further estimated to foster market growth. For instance, in August 2018, Kleresca, a medical technology company has announced the launch of a new treatment for rosacea. It is based on Kleresca’s unique and patented biophotonic technology which utilizes fluorescent light energy to stimulate the skin’s own repair mechanisms through photo bio modulation.

Market Trends/Key Takeaways

The rising trend of miniature technology to treat various chronic diseases is expected to propel the market growth over the forecast period. For example, entire devices are used in medicine that determines the activity of cells, molecules, and fibers by using fluorescent light. But now, with the advent of biophotonics-on-chip, mini-versions of those same large devices can also be developed. Hence, the rising trend of a miniature of biophotonic technology is expected to propel the market growth over the forecast period.

Rising efforts by various manufacturers to promote the biophotonic technology in imaging diagnostic solution is projected to fuel the market growth over the forecast timeframe.

Market Trends/Key Takeaways

The rising trend of miniature technology to treat various chronic diseases is expected to propel the market growth over the forecast period. For example, entire devices are used in medicine that determines the activity of cells, molecules, and fibers by using fluorescent light. But now, with the advent of biophotonics-on-chip, mini-versions of those same large devices can also be developed. Hence, the rising trend of a miniature of biophotonic technology is expected to propel the market growth over the forecast period. Its advanced femtosecond fiber laser developments, new modular microscope

Competitive Section:

Company Names

Players active in the market are Becton, Dickinson & Co., Affymetrix Inc., Carl Zeiss, Olympus America, Andor Technology, and Hamamatsu Photonics

Recent Developments

Carl Zeiss

• In June 2017, The Salk Institute’s Waitt Advanced Biophotonics Center and ZEISS announced a global partnership to accelerate the frontiers of microscopy and imaging technologies.

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