Biophotonics Market - Growth, Trends, and Forecasts (2023 - 2028)

The Biophotonics 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, the Middle East, and Africa, and South America). The report offers the value (in USD million) for the above segments.

Biophotonics Industry Overview

Biophotonics Market Summary
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 10.5 %

Major Players

Biophotonics Market Major Players

*Disclaimer: Major Players sorted in no particular order

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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 Industry Segments

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
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

Report scope can be customized per your requirements. Click here.

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.

Biophotonics Market - New Cases of Cancer (in millions), By Type, United States, 2021

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 Market - Growth Rate by Region

Biophotonics Market Competitor Analysis

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 Top Players

  1. Thermofisher Scientific

  2. Becton, Dickinson and Company

  3. Hamamatsu Photonics KK

  4. Olympus Corporation

  5. Carl Zeiss AG

*Disclaimer: Major Players sorted in no particular order

Biophotonics Market Concentration

Biophotonics Market Recent Developments

  • 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. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    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 Forces 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 and Company

      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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Biophotonics Market Research FAQs

The Global Biophotonics Market is studied from 2018 - 2028.

The Global Biophotonics Market is growing at a CAGR of 10.5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

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 Global Biophotonics Market.

Global Biophotonics Industry Reports

In-depth industry statistics and market share insights of the Global Biophotonics sector for 2020, 2021, and 2022. The Global Biophotonics research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Global Biophotonics report PDF.

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