Biophotonics Market By End-Use (Tests and Components, Medical Therapeutics, Medical Diagnostics, Non-Medical Application), By Application (See-Through Imaging, Microscopy, Inside Imaging, Spectro Molecular, Analytics Sensing, Light Therapy, Surface Imaging, Biosensors) And Segment Forecast To 2024
The global biophotonics market was valued at USD 34.29 billion in 2015, which is estimated to reach USD 91.31 billion by 2024, 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 its ability to harnesses light for comprehending the functioning of cells and tissue in living organisms. This further aids in the better diagnosis of health problems.
Biophotonics market is projected to witness a 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 authenticity, quality, and reliability of the products.
Further key findings from the report suggest:
The non-medical end-use segment is expected to emerge as the fastest-growing segment over the forecast period. The snowballing demand in the non-medical applications is predicted to offer several growth avenues over the next few years. The usage of biophotonics to examine tissues at macro and micro levels and diagnose diseases effectively is expected to be a key reason for its surging end-use applications.
The light therapy segment is projected to grow at a CAGR of 14.88% over the forecast period. It accounted for 3.6% of the total market revenue in 2014. This is followed by the surface imaging segment, which is expected to exhibit a high market growth. In addition to this, the market is expected to observe growth with increasing adoption of this technology across various industries, such as biotechnology, therapeutics, agriculture, diagnostics, and life sciences R&D. Other impact rendering applications include environmental monitoring, food analysis, dosimetry, dentistry, and medical imaging utilizing endoscopy and Raman spectroscopy.
The Asia Pacific biophotonics market is expected to grow at a CAGR exceeding 13% over the next few years. Due to the augmented investment in R&D activities, coupled with the increasing prevalence of cancer, the market is expected to witness a substantial growth. The increasing healthcare expenditure and rising government initiatives are expected to fuel the demand for the regional market.
The prominent industry participants include IPG Photonics Corp., Idex Corp., Toshiba, Procter & Gamble, Horiba, Precision Photonics Corp. (PPC), Roche, GE, Philips, and Danone. The market is projected to exhibit an aggressive competition in the arena of technological development, leading to the application of biophotonic devices in households.
Biophotonics market is projected to witness a 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 authenticity, quality, and reliability of the products.
Further key findings from the report suggest:
The non-medical end-use segment is expected to emerge as the fastest-growing segment over the forecast period. The snowballing demand in the non-medical applications is predicted to offer several growth avenues over the next few years. The usage of biophotonics to examine tissues at macro and micro levels and diagnose diseases effectively is expected to be a key reason for its surging end-use applications.
The light therapy segment is projected to grow at a CAGR of 14.88% over the forecast period. It accounted for 3.6% of the total market revenue in 2014. This is followed by the surface imaging segment, which is expected to exhibit a high market growth. In addition to this, the market is expected to observe growth with increasing adoption of this technology across various industries, such as biotechnology, therapeutics, agriculture, diagnostics, and life sciences R&D. Other impact rendering applications include environmental monitoring, food analysis, dosimetry, dentistry, and medical imaging utilizing endoscopy and Raman spectroscopy.
The Asia Pacific biophotonics market is expected to grow at a CAGR exceeding 13% over the next few years. Due to the augmented investment in R&D activities, coupled with the increasing prevalence of cancer, the market is expected to witness a substantial growth. The increasing healthcare expenditure and rising government initiatives are expected to fuel the demand for the regional market.
The prominent industry participants include IPG Photonics Corp., Idex Corp., Toshiba, Procter & Gamble, Horiba, Precision Photonics Corp. (PPC), Roche, GE, Philips, and Danone. The market is projected to exhibit an aggressive competition in the arena of technological development, leading to the application of biophotonic devices in households.
CHAPTER 1. METHODOLOGY AND SCOPE
1.1. Research Methodology
1.2. Research Scope & Assumptions
1.3. List of Data Sources
CHAPTER 2. EXECUTIVE SUMMARY
2.1. Biophotonics- Industry snapshot &key buying criteria, 2013 - 2024
CHAPTER 3. BIOPHOTONICS INDUSTRY OUTLOOK
3.1. Biophotonics market segmentation
3.2. Biophotonics market size and growth prospects
3.3. Biophotonics value chain analysis
3.4. Biophotonics market dynamics
3.4.1. Market driver analysis
3.4.1.1. Increasing R&D activity and technological advancement in optical technologies across telecom & Information Technology sectors
3.4.1.2. Increase in demand for quality products in the healthcare industry
3.4.1.3. Increasing use of biophotonics in defense applications
3.4.2. Market restraint analysis
3.4.2.1. Complexity associated with biophotonics technology
3.4.2.2. High price concerns
3.5. Key opportunities prioritized
3.6. Industry analysis - Porter's
3.7. Biophotonics industry company market share, 2015
3.8. Biophotonics market PESTEL Analysis, 2015
CHAPTER 4. BIOPHOTONICS END-USE OUTLOOK
4.1. Biophotonics market share by end-use, 2015& 2024
4.2. Tests and components
4.2.1. Market estimates and forecasts, by region, 2013 - 2024
4.3. Medical therapeutics
4.3.1. Market estimates and forecasts, by region, 2013 - 2024
4.4. Medical diagnostics
4.4.1. Market estimates and forecasts, by region, 2013 - 2024
4.5. Non-medical application
4.5.1. Market estimates and forecasts, by region, 2013 - 2024
CHAPTER 5. BIOPHOTONICS APPLICATION OUTLOOK
5.1. Biophotonics market share by application, 2015& 2024
5.2. See-Through imaging
5.2.1. Market estimates and forecasts, by region, 2013 - 2024
5.3. Microscopy
5.3.1. Market estimates and forecasts, by region, 2013 - 2024
5.4. Inside Imaging
5.4.1. Market estimates and forecasts, by region, 2013 - 2024
5.5. Spectro Molecular
5.5.1. Market estimates and forecasts, by region, 2013 - 2024
5.6. Other analytics sensing
5.6.1. Market estimates and forecasts, by region, 2013 - 2024
5.7. Light Therapy
5.7.1. Market estimates and forecasts, by region, 2013 - 2024
5.8. Biosensors
5.8.1. Market estimates and forecasts, by region, 2013 - 2024
CHAPTER 6. BIOPHOTONICS REGIONAL OUTLOOK
6.1. Biophotonics market share by region, 2015& 2024
6.2. North America
6.2.1. Market estimates and forecast by end-use, 2013 - 2024
6.2.2. Market estimates and forecast by application, 2013 - 2024
6.3. Europe
6.3.1. Market estimates and forecast by end-use, 2013 - 2024
6.3.2. Market estimates and forecast by application, 2013 - 2024
6.4. Asia Pacific
6.4.1. Market estimates and forecast by end-use, 2013 - 2024
6.4.2. Market estimates and forecast by application, 2013 - 2024
6.5. Rest of the World
6.5.1. Market estimates and forecast by end-use, 2013 - 2024
6.5.2. Market estimates and forecast by application, 2013 - 2024
CHAPTER 7. COMPETITIVE LANDSCAPE
7.1. Affymetrix Inc.
7.1.1. Company Overview
7.1.2. Financial Performance
7.1.3. Product Benchmarking
7.1.4. Strategic Initiatives
7.2. Andor Technology
7.2.1. Company Overview
7.2.2. Financial Performance
7.2.3. Product Benchmarking
7.2.4. Strategic Initiatives
7.3. BD (Becton, Dickinson and Company)
7.3.1. Company Overview
7.3.2. Financial Performance
7.3.3. Product Benchmarking
7.3.4. Strategic Initiatives
7.4. Carl Zeiss AG
7.4.1. Company Overview
7.4.2. Financial Performance
7.4.3. Product Benchmarking
7.4.4. Strategic Initiatives
7.5. Olympus Corporation
7.5.1. Company Overview
7.5.2. Financial Performance
7.5.3. Product Benchmarking
7.5.4. Strategic Initiatives
7.6. Hamamatsu Photonics K.K
7.6.1. Company Overview
7.6.2. Financial Performance
7.6.3. Product Benchmarking
7.6.4. Strategic Initiatives
7.7. Zecotek Photonic Inc.
7.7.1. Company Overview
7.7.2. Financial Performance
7.7.3. Product Benchmarking
7.7.4. Strategic Initiatives
7.8. Idex Corporation
7.8.1. Company Overview
7.8.2. Financial Performance
7.8.3. Product Benchmarking
7.8.4. Strategic Initiatives
7.9. IPG Photonics
7.9.1. Company Overview
7.9.2. Financial Performance
7.9.3. Product Benchmarking
7.9.4. Strategic Initiatives
7.10. Toshiba
7.10.1. Company Overview
7.10.2. Financial Performance
7.10.3. Product Benchmarking
7.10.4. Strategic Initiatives
7.11. Oxford Instruments Plc
7.11.1. Company Overview
7.11.2. Financial Performance
7.11.3. Product Benchmarking
7.11.4. Strategic Initiatives
7.12. PerkinElmer Inc.
7.12.1. Company Overview
7.12.2. Financial Performance
7.12.3. Product Benchmarking
7.12.4. Strategic Initiatives
1.1. Research Methodology
1.2. Research Scope & Assumptions
1.3. List of Data Sources
CHAPTER 2. EXECUTIVE SUMMARY
2.1. Biophotonics- Industry snapshot &key buying criteria, 2013 - 2024
CHAPTER 3. BIOPHOTONICS INDUSTRY OUTLOOK
3.1. Biophotonics market segmentation
3.2. Biophotonics market size and growth prospects
3.3. Biophotonics value chain analysis
3.4. Biophotonics market dynamics
3.4.1. Market driver analysis
3.4.1.1. Increasing R&D activity and technological advancement in optical technologies across telecom & Information Technology sectors
3.4.1.2. Increase in demand for quality products in the healthcare industry
3.4.1.3. Increasing use of biophotonics in defense applications
3.4.2. Market restraint analysis
3.4.2.1. Complexity associated with biophotonics technology
3.4.2.2. High price concerns
3.5. Key opportunities prioritized
3.6. Industry analysis - Porter's
3.7. Biophotonics industry company market share, 2015
3.8. Biophotonics market PESTEL Analysis, 2015
CHAPTER 4. BIOPHOTONICS END-USE OUTLOOK
4.1. Biophotonics market share by end-use, 2015& 2024
4.2. Tests and components
4.2.1. Market estimates and forecasts, by region, 2013 - 2024
4.3. Medical therapeutics
4.3.1. Market estimates and forecasts, by region, 2013 - 2024
4.4. Medical diagnostics
4.4.1. Market estimates and forecasts, by region, 2013 - 2024
4.5. Non-medical application
4.5.1. Market estimates and forecasts, by region, 2013 - 2024
CHAPTER 5. BIOPHOTONICS APPLICATION OUTLOOK
5.1. Biophotonics market share by application, 2015& 2024
5.2. See-Through imaging
5.2.1. Market estimates and forecasts, by region, 2013 - 2024
5.3. Microscopy
5.3.1. Market estimates and forecasts, by region, 2013 - 2024
5.4. Inside Imaging
5.4.1. Market estimates and forecasts, by region, 2013 - 2024
5.5. Spectro Molecular
5.5.1. Market estimates and forecasts, by region, 2013 - 2024
5.6. Other analytics sensing
5.6.1. Market estimates and forecasts, by region, 2013 - 2024
5.7. Light Therapy
5.7.1. Market estimates and forecasts, by region, 2013 - 2024
5.8. Biosensors
5.8.1. Market estimates and forecasts, by region, 2013 - 2024
CHAPTER 6. BIOPHOTONICS REGIONAL OUTLOOK
6.1. Biophotonics market share by region, 2015& 2024
6.2. North America
6.2.1. Market estimates and forecast by end-use, 2013 - 2024
6.2.2. Market estimates and forecast by application, 2013 - 2024
6.3. Europe
6.3.1. Market estimates and forecast by end-use, 2013 - 2024
6.3.2. Market estimates and forecast by application, 2013 - 2024
6.4. Asia Pacific
6.4.1. Market estimates and forecast by end-use, 2013 - 2024
6.4.2. Market estimates and forecast by application, 2013 - 2024
6.5. Rest of the World
6.5.1. Market estimates and forecast by end-use, 2013 - 2024
6.5.2. Market estimates and forecast by application, 2013 - 2024
CHAPTER 7. COMPETITIVE LANDSCAPE
7.1. Affymetrix Inc.
7.1.1. Company Overview
7.1.2. Financial Performance
7.1.3. Product Benchmarking
7.1.4. Strategic Initiatives
7.2. Andor Technology
7.2.1. Company Overview
7.2.2. Financial Performance
7.2.3. Product Benchmarking
7.2.4. Strategic Initiatives
7.3. BD (Becton, Dickinson and Company)
7.3.1. Company Overview
7.3.2. Financial Performance
7.3.3. Product Benchmarking
7.3.4. Strategic Initiatives
7.4. Carl Zeiss AG
7.4.1. Company Overview
7.4.2. Financial Performance
7.4.3. Product Benchmarking
7.4.4. Strategic Initiatives
7.5. Olympus Corporation
7.5.1. Company Overview
7.5.2. Financial Performance
7.5.3. Product Benchmarking
7.5.4. Strategic Initiatives
7.6. Hamamatsu Photonics K.K
7.6.1. Company Overview
7.6.2. Financial Performance
7.6.3. Product Benchmarking
7.6.4. Strategic Initiatives
7.7. Zecotek Photonic Inc.
7.7.1. Company Overview
7.7.2. Financial Performance
7.7.3. Product Benchmarking
7.7.4. Strategic Initiatives
7.8. Idex Corporation
7.8.1. Company Overview
7.8.2. Financial Performance
7.8.3. Product Benchmarking
7.8.4. Strategic Initiatives
7.9. IPG Photonics
7.9.1. Company Overview
7.9.2. Financial Performance
7.9.3. Product Benchmarking
7.9.4. Strategic Initiatives
7.10. Toshiba
7.10.1. Company Overview
7.10.2. Financial Performance
7.10.3. Product Benchmarking
7.10.4. Strategic Initiatives
7.11. Oxford Instruments Plc
7.11.1. Company Overview
7.11.2. Financial Performance
7.11.3. Product Benchmarking
7.11.4. Strategic Initiatives
7.12. PerkinElmer Inc.
7.12.1. Company Overview
7.12.2. Financial Performance
7.12.3. Product Benchmarking
7.12.4. Strategic Initiatives
