World Biophotonics Market to Increase at 10.2% CAGR through 2022, Predicts Industry Experts in Its New Report Recently Added at MarketPublishers.com
01 Jun 2017 • by Natalie Aster
LONDON – Nowadays, biophotonics is gaining traction in a wide range of verticals, for instance, biotechnology, agriculture, therapeutics and food diagnostics.
The global biophotonics market is likely to touch USD 36.8 billion this year, and is anticipated to register a 10.2% CAGR through 2022 to reach the value of USD 59.9 billion. Drivers of robust market growth include ongoing advancements in optical technology, increasing incidence of chronic diseases, government support and also escalating demand for minimally invasive surgeries, amid others. Increasing demand for biophotonics across emerging countries of the Latin American and APAC regions as well as emergence of lucrative opportunities in these regions will also drive robust growth in the biophotonics market. Important impetus to the biophotonics market growth is expected to be given by the increasing usage of this technology in the medical sector; the biophotonics technology could address some of the essential healthcare needs of aged people, which is likely to remain one of the key factors in bolstering demand.
The imaging sector ranks the leading consumer of biophotonics. However, the highest growth rates are expected to be registered in the analytics and sensing sector.
New research report “Biophotonics – A Global Market Overview” worked out by Industry Experts presents an all-round overview of the global market for biophotonics with detailed review of the main market segments. This research study covers the performance of the key geographical markets, scrutinizes the market dynamics with details on the key growth restraints and drivers, points out top growth opportunities and challenges, discusses the hottest issues. Besides, it includes extensive analyses of 13 country-wide markets, includes a listing of top companies engaged in the biophotonics industry, examines the key applications of biophotonics, etc. In addition, this report reviews the possible ways of future market development as well as presents an all-round future outlook through 2022.
Find many other insightful reports by the publisher at the Industry Experts page.