The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s biophotonics market report forecasts the biophotonics market size to grow to $113.99 Billion by 2027, with a CAGR (compound annual growth rate) of more than 11%.

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Biophotonics Market Size Forecast
The global biophotonics market is expected to grow from $67.04 billion in 2022 to $74.38 billion in 2023 at a compound annual growth rate (CAGR) of 10.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global biophotonics market size is expected to grow to $113.99 billion in 2027 at a CAGR of 11.3%.

North America held the largest biophotonics market share.

Key Biophotonics Market Driver ­– Increase In Demand For Minimally Invasive Surgeries
According to a report by Intuitive Surgical, Inc., a US-based company specializing in minimally invasive care and the pioneer of robotic-assisted surgery, stated that they performed 10 million surgeries in 2021. Therefore, the surge in the number of minimally invasive surgeries annually worldwide is generating higher revenues for the biophotonics market.

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Key Biophotonics Market Trend – Launching New Advanced Techniques In The Field Of Biotechnology
For instance, a team of scientists at the University of St. Andrews (Scotland) developed a fluorescence microscopy technique that allows imaging of delicate biological samples with low damage in neuroscience and biomedicine. This low-damage optical technique is projected to transform the world of biomedicine in the forthcoming years. Hence, the development of new and advanced techniques is gaining significant popularity in the biophotonics market.

Biophotonics Market Segment
1) By Product Technology: In-Vitro, In-Vivo
2) By Application: See-Through Imaging, Inside Imaging, Spectromolecular, Surface Imaging, Microscopy, Light Therapy, Biosensors, Other Applications
3) By End Use: Diagnostics, Therapeutic, Tests, Other End Uses

Biophotonics Market Major Players and Strategies
Major players in the biophotonics market are Thermo Fisher Scientific, OPGEN, NU Skin Enterprises, IPG Photonics Corp., Idex Corp., Toshiba, Procter & Gamble, Horiba and Precision Photonics Corp.

In April 2021, CellaVision, a Sweden based company that offers digital Morphology Solutions acquired exclusive rights to a patent portfolio on Fourier Ptychographic Microscopy from Clearbridge BioPhotonics for $3.28 million (SEK 28.7 million). Through this acquisition, CellaVision will have access to and control over a promising future technology. CellaVision believes that the Fourier Ptychography Microscopy technology has the capability to be employed in the development of future automated microscopes for use in haematology and related fields. Clearbridge Biophotonics, Inc. is a US-based imaging solutions company.

The Biophotonics Global Market Report 2023 covers regional data on biophotonics market size, biophotonics market trends and drivers, opportunities, strategies, and biophotonics market competitor analysis. The countries covered in the biophotonics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Biophotonics is the combination of photonics and biology and is a multidisciplinary research field embracing all light-based technologies applied to life sciences and medicine. It is used to examine, control, and track biological processes at various levels of biology: cellular, tissue, molecular, and organism level.

View More Reports Related To The Biophotonics Market –
Bioinformatics Global Market Report 2023
Metabolomics Global Market Report 2023
Proteomics Global Market Report 2023

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