BioPhotonics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

BioPhotonics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The key factors propelling the growth of this market are growing geriatric population, increasing use of biophotonics in cell and tissue diagnostics, the emergence of nanotechnology in biophotonics and development of Novel Photoacoustic Tomography (PAT) System.

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 nano-scale. 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, the gold nanoparticle is used by researchers from 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 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, concerning nanotechnology through improved artificial markers, are expected to drive the market.

Key Market TrendsInside Imaging (Endoscopy) is Expected to hold its Highest Market Share in the Technology Segment

In the Technology segment of the BioPhotonics market, Inside Imaging (Endoscopy) is believed to have the largest market size and is expected to witness a CAGR of 9.04% in the forecast period.

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 to 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. Such application of these technologies drives the demand for the biophotonics market.

North America Dominates the Market and Expected to do Same in the Forecast Period

North America currently dominates the market for BioPhotonics and is expected to continue its stronghold for a few more years. The United States is a major market in the biophotonics industry, and this is mainly, owing to the US government’s initiatives to develop the industry. In addition, the emergence of nanotechnology has driven the biophotonics market in the United States.

Competitive Landscape

Companies such as Thermofisher Scientific, Becton, Dickinson and Company, Hamamatsu Photonics KK, Olympus Corporation, and Carl Zeiss AG, are some of the key players of BioPhotonics market. With the increase in technological advancements in the imaging industry, there are efforts being taken by the healthcare companies to offer efficient and novel products to the customers. Therefore, it is believed that there might be an emergence of the more new players in the future.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Thermo Fisher Scientific
NU Skin Enterprises
Becton Dickinson & Co
Glenbrook Technologies
Hamamatsu Photonics KK
Olympus Corporation
Carl Zeiss AG
Oxford Instruments PLC
Zenalux Biomedical Inc

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