BioPhotonics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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.

Market Snapshot

biophotonics-market_Market Summary
Study Period: 2019-2027
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 10.54 %

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Market Overview

The BioPhotonics market was valued at approximately USD 60422.5 million in 2021 and is expected to grow with a CAGR of 10.54% over the forecast period.

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 globe. Additionally, COVID-19 not only affected the economy but also impacted the functioning of hospital care for non-COVID-19 patients in hospitals and other end user facilities across the globe. However, the impact was less as certain applications of BioPhotonics were used in COVID. 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 photo biomodulation 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 may be an incremental benefit in combining photodynamic therapy and sonodynamic therapy. However, the norms by the governments and preference of other therapies have reduced the overall market size.

The key factors propelling the growth of this market are growing geriatric population, increasing use of biophotonics in cell and tissue diagnostics, the emergence of nanotechnology in biophotonics and development of Novel Photoacoustic Tomography (PAT) System. 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 nano-scale. 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, the gold nanoparticle is used by researchers from 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 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, concerning nanotechnology through improved artificial markers, are expected to drive the market.

Scope of the Report

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 the various regions across the globe. 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
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Inside Imaging (Endoscopy) is Expected to hold its Highest Market Share in the Technology Segment

In the Technology segment of the BioPhotonics market, Inside Imaging (Endoscopy) is believed to have the largest market size in the forecast period.

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 to 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 for the biophotonics market.

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North America Dominates the Market and Expected to do Same in the Forecast Period

North America currently dominates the market for BioPhotonics and is expected to continue its stronghold for a few more years. The United States is a major market in the biophotonics industry, and this is mainly, owing to the United States government’s initiatives to develop the 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 has recently 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 worldwide 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.

These initiatives may fuel the growth of the BioPhotonics market over the forecast period in North America.

BioPhotonics

Competitive Landscape

Companies such as Thermofisher Scientific, Becton, Dickinson and Company, Hamamatsu Photonics KK, Olympus Corporation, and Carl Zeiss AG, are some of the key players of BioPhotonics market. With the increase in technological advancements in the imaging industry, there are efforts being taken by the healthcare companies to offer efficient and novel products to the customers. Therefore, it is believed that there might be an emergence of the more new players in the future.

Recent Development

In March 2021, Zeiss expanded its presence in North America by launching a new research & devlopment, production, sales and customer service center in the United States with the 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 mocroscopy device. This device can provide realtime 3D imaging to the users. 

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Defination

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Growing Geriatric Population

      2. 4.2.2 Increasing Use Of Biophotonics in Cell and Tissue Diagnostics

      3. 4.2.3 Emergence of Nanotechnology in Biophotonics

      4. 4.2.4 Development of Novel Photoacoustic Tomography (PAT) System

    3. 4.3 Market Restraints

      1. 4.3.1 Lack of Awareness of Biophotonics Technology and Skilled Personnel

      2. 4.3.2 High Cost of Technology

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 5.1 By Technology

      1. 5.1.1 Surface Imaging

      2. 5.1.2 Inside Imaging

      3. 5.1.3 See-through Imaging

      4. 5.1.4 Microscopy

      5. 5.1.5 Biosensors

      6. 5.1.6 Medical Lasers

      7. 5.1.7 Spectromolecular

      8. 5.1.8 Other Technologies

    2. 5.2 Geography

      1. 5.2.1 North America

        1. 5.2.1.1 United States

        2. 5.2.1.2 Canada

        3. 5.2.1.3 Mexico

      2. 5.2.2 Europe

        1. 5.2.2.1 Germany

        2. 5.2.2.2 United Kingdom

        3. 5.2.2.3 France

        4. 5.2.2.4 Italy

        5. 5.2.2.5 Spain

        6. 5.2.2.6 Rest of Europe

      3. 5.2.3 Asia Pacific

        1. 5.2.3.1 China

        2. 5.2.3.2 Japan

        3. 5.2.3.3 India

        4. 5.2.3.4 Australia

        5. 5.2.3.5 South korea

        6. 5.2.3.6 Rest of Asia-Pacific

      4. 5.2.4 Middle East and Africa

        1. 5.2.4.1 GCC

        2. 5.2.4.2 South Africa

        3. 5.2.4.3 Rest of Middle East and Africa

      5. 5.2.5 South America

        1. 5.2.5.1 Brazil

        2. 5.2.5.2 Argentina

        3. 5.2.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Thermo Fisher Scientific

      2. 6.1.2 NU Skin Enterprises

      3. 6.1.3 Becton Dickinson & Co

      4. 6.1.4 Glenbrook Technologies

      5. 6.1.5 Hamamatsu Photonics KK

      6. 6.1.6 Olympus Corporation

      7. 6.1.7 Carl Zeiss AG

      8. 6.1.8 Oxford Instruments PLC

      9. 6.1.9 Zenalux Biomedical Inc

      10. 6.1.10 PerkinElmer

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The BioPhotonics Market market is studied from 2019 - 2027.

The BioPhotonics Market is growing at a CAGR of 10.54% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

Thermofisher Scientific, Becton, Dickinson and Company, Hamamatsu Photonics KK, Olympus Corporation, Carl Zeiss AG are the major companies operating in BioPhotonics Market.

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