Biophotonics Market | Coherent Market Insights

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• BIOPHOTONICS MARKET ANALYSIS
• Biophotonics Market, By End Use (Medical
  Diagnostics, Medical Therapeutics, Test
  Components, Non-Medical Applications), By
  Application (See Through Imaging, Inside Imaging,
  Spectro Molecular, Surface Imaging, Microscopy,
  Light Therapy, Biosensors, Other Analytic
  Sensing), By Region (North America, Latin
  America, Europe, Asia Pacific, Middle East,
  Africa) - Size, Share, Outlook, and Opportunity
  Analysis, 2019 - 2027

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• Definition of Market/Industry
• 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).

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• 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 Klerescas unique and
  patented biophotonic technology which utilizes
  fluorescent light energy to stimulate the skins
  own repair mechanisms through photo bio
  modulation.
• The rising number of partnership among major
  players for developing advanced biophotonic
  technology is projected to boost the market
  growth over the forecast period. For instance, in
  June 2017, The Salk Institutes Waitt Advanced
  Biophotonics Center and ZEISS announced a global
  partnership to accelerate the frontiers of
  microscopy and imaging technologies. The purpose
  of this partnership was to develop cutting-edge
  optical and optoelectronic technologies.
  Therefore, the rising number of partnership for
  developing advanced imaging technology by using
  biophotonic is projected to boost market growth.

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• Figure 1. Global Biophotonics Market Share, By
  Region, 2018

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Market Opportunities

• Rising cases of various chronic diseases around
  the globe such as arthritis, genetic disorders,
  cancers, etc. There are nearly 7000 rare diseases
  that are prevalent around the globe. Out of which
  more than 95 of rare disorders dont get
  FDA-approved drugs. Biophotonics, being the most
  advanced technology aims to offer enhanced
  treatment solutions for these critical diseases.
  Therefore, the rising application of biphotonic
  based treatment solutions for treating various
  chronic diseases is projected to offer immense
  growth opportunity to the market over the
  forecast period.

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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.

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