Biophotonics Market Report 2021 | Application of Biophotonic Technology and Enormous Growth Opportunity Over the Forecast to 2027
Overview
Biophotonics is a new field of study that encompasses all light-based technology used in biology and medicine. It is also known as the research and development of optical techniques, especially for imaging, in order to understand the behaviors of biological cells, molecules, and tissues. Agriculture, life science, medicine, and environmental science are some of the major application areas of biophotonics. To summarize, biophotonics is an interdisciplinary discipline that studies the association of electromagnetic radiation with biological materials used in living organisms, such as molecules, subcellular structures, cells, and tissues.
Drivers
The increasing number of research initiatives aimed at incorporating biophotonic-based 3D imaging technology in life science is expected to boost market demand. In June 2019, a group of Southampton researchers presented imaging technology at a mini-symposium on 3D imaging in the life sciences. “The Southampton Bio-imaging Symposium in January was a great success in highlighting the general imaging expertise,” said the Symposium organizer and head of the Biophotonics Group at the IfLS (Institute for Life Sciences). As a result, market development is expected to be supported by the increasing number of such research initiatives aimed at incorporating biophotonic-based imaging technologies.
Opportunities
Biophotonic technology is increasingly being used in agriculture for crop testing, and is gaining acceptance in the market. The two main applications in agriculture, microfluidics and tracking techniques, are expected to drive market growth over the forecast period. Growing demand for GMO crops, as well as their use in biotechnology laboratories and research institutes, is expected to propel the market further. Moreover, advances in biosensors, as well as increased applications of light therapy and microscopy, are expected to lead to the growth of the global biophotonic market.
Restraints
The market’s development is projected to be hampered by a lack of government funding for the Biophotonics Industry. Since biophotonics is still in its infancy, several organizations need substantial funds to carry out biophotonics research programs. Furthermore, many small and medium-sized businesses depend on government funding to finance their R&D efforts. As a result, the lack of government funding for biophotonics technology is likely to stifle growth of the global biophotonic market during the forecast period.
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Market Trends
The growing geriatric population, especially in the Asia-Pacific region, as well as European nations, have altered the biophotonics industry’s market scenario in recent years. Furthermore, China accounts for a significant portion of the global geriatric population base size. With 9.6% of the population over the age of 65, China is projected to be one of the most lucrative markets for biophotonics. As a result, demand growth is projected to be aided by an increasing geriatric population. The arrival of new entrants into the healthcare industry around the world is projected to boost business demand.
Furthermore, countries like India and China are projected to be attractive destinations for micro, nano, and medium-sized businesses. Furthermore, biophotonics is increasingly being used in optical fibers, nanotubes, quantum dots, surface plasmons, silicon-on-insulator, micro- and nano-photonics, LEDs, hetero-structured lasers, and waveguides. Therefore, new biophotonic applications are projected to drive demand growth over the forecast period.
Competitive Landscape
Major companies operating in the global biophotonics market include Olympus America, Dickinson & Co., Affymetrix Inc., Hamamatsu Photonics, Carl Zeiss, Becton, and Andor Technology.
Main points in Biophotonics Market Report Table of Content
Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Global Biophotonics Market Size Analysis from 2021 to 2027
11.6 COVID-19 Outbreak: Biophotonics Industry Impact
Chapter 2 Global Biophotonics Competition by Types, Applications, and Top Regions and Countries
2.1 Global Biophotonics (Volume and Value) by Type
2.3 Global Biophotonics (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Biophotonics Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Biophotonics Market Analysis
Chapter 6 East Asia Biophotonics Market Analysis
Chapter 7 Europe Biophotonics Market Analysis
Chapter 8 South Asia Biophotonics Market Analysis
Chapter 9 Southeast Asia Biophotonics Market Analysis
Chapter 10 Middle East Biophotonics Market Analysis
Chapter 11 Africa Biophotonics Market Analysis
Chapter 12 Oceania Biophotonics Market Analysis
Chapter 13 South America Biophotonics Market Analysis
Chapter 14 Company Profiles and Key Figures in Biophotonics Business
Chapter 15 Global Biophotonics Market Forecast (2021-2027)
Chapter 16 Conclusions
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