Biophotonics Market Size To Reach $134.83 Billion By 2030

Biophotonics Market Growth & Trends

The global biophotonics market size is expected to reach USD 134.83 billion by 2030, registering a CAGR of 10.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. The developments in optical technologies, increasing investigations by researchers, and mounting demand for early diagnosis are anticipated to drive the market growth over the forecast period. Biophotonics, being an evolving area of scientific research, has several applications due to its ability to harnesses light for comprehending the functioning of cells and tissue in living organisms. This further aids in better diagnosis of health problems.

The biophotonics market is projected to witness high growth during the forecast period, owing to its application in optical techniques while simultaneously preserving the integrity of the biological cells under surveillance. New laser microscopes are being developed which permit measurements of distinct molecules and tissues at exceptional resolutions.

Biophotonics also finds applications in numerous procedures including new laser microscopes, which allow exceptional specifications of molecules & single tissues, optical coherence tomography that assists in the minute imaging of biomaterials, and novel light-activated chemicals utilized for welding tissues through surgical procedures.

Considering the enormous application areas, it is becoming perplexing for the key market players to commercialize this technology. However, the market is confronted with a slow commercialization rate due to the low acceptance from end-users, price sensitivity, and concerns pertaining to the authenticity, quality, and reliability of the products.

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Biophotonics Market Report Highlights

• In-vitro accounted for the largest market revenue share in 2023 and is expected to maintain its lead throughout the forecast period.

• Analytics sensing accounted for the largest market revenue share in 2023. The increasing demand for point-of-care testing (POCT) and portable diagnostic devices is fueling the growth of the analytics sensing segment.

• The medical diagnostic segment accounted for the largest market revenue share of 65.5% in 2023, owing to its adoption by several end-users, which include healthcare providers, instrument manufacturers, medical institutes, and research laboratories.

• North America biophotonics market accounted for the largest market revenue share of 37.3% in 2023, owing to the surging R&D initiatives, increasing investments in the healthcare industry, and accessibility to excellent infrastructure.

Biophotonics Market Segmentation

Grand View Research has segmented the global Biophotonics market on the basis of technology, application, end use, and region:

Biophotonics Technology Outlook (Revenue, USD Million, 2018 - 2030)

• In-Vitro

• In-Vivo

Biophotonics Application Outlook (Revenue, USD Million, 2018 - 2030)

• See-Through imaging

• Microscopy

• Inside Imaging

• Spectro Molecular

• Analytics Sensing

• Light Therapy

• Surface Imaging

• Biosensors

Biophotonics End Use Outlook (Revenue, USD Million, 2018 – 2030)

• Tests and Components

• Medical Therapeutics

• Medical Diagnostics

• Non-medical Application

Biophotonics Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

• Latin America

  • Brazil

• Middle East and Africa (MEA)

  • United Arab Emirates

  • Saudi Arabia

  • South Africa

List of Key Players of Biophotonics Market

• Affymetrix Inc. (Thermo Fisher Scientific Inc.)

• BD (Becton, Dickinson and Company)

• ZEISS Group

• Olympus Corporation

• Hamamatsu Photonics K.K

• Zecotek Photonics Inc.

• IDEX

• IPG Photonics Corporation

• TOSHIBA CORPORATION

• Oxford Instruments

• PerkinElmer Inc.