Showing posts with label Opportunities in Biophotonics Market. Show all posts
Showing posts with label Opportunities in Biophotonics Market. Show all posts

Friday, December 9, 2022

Global Biophotonics Market Size, Segments, Outlook, and Revenue Forecast 2022-2028: Ken Research

 The Global Biophotonics Market was valued at ~US$ 30 billion in 2017. Furthermore, owing to the development in biosensors and increased use of biophotonics in the nonmedical sector, it is estimated to be ~US$ 50 billion in 2022 and is expected to reach a market size of ~US$ 100 billion by 2028 growing with a CAGR of ~12% during 2022 to 2028.

Global Biophotonics Market

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Key Growth Drivers

  • The recent surge of nanotechnology, combined with increasing demand for home-based Point-of-Care (POC) devices, is expected to drive market growth in the coming years.
  • Advances in optical technologies in the aerospace and telecommunications sectors, combined with the availability of private and government funds for R&D, are also expected to boost the market growth.
  • The complexity of biophotonics technology, combined with the high cost of biophotonics-based instruments, may stifle market growth.
  • The ongoing COVID-19 pandemic has hampered biophotonics market growth by disrupting hospital care for non-COVID-19 patients in hospitals and other end-user facilities across countries.

Key Trends by Market Segment

By Technology: The In-Vitro segment held the largest market share of the global biophotonics market in 2021.

  • In-Vitro basically used studying cells in culture or methods of testing the antibiotic sensitivity of bacteria.
  • Furthermore, in-vitro optical imaging is being conducted in a variety of medical applications, such as optical breast cancer imaging, functional brain imaging, endoscopy, exercise medicine, and monitoring the photodynamic therapy and progress of neoadjuvant chemotherapy.

By End-User: The Medical Diagnostics segment held the largest market share of the global biophotonics market in 2021.

  • Diagnostic biophotonics is used to detect diseases in their initial stages before actual medical symptoms occur in patients.
  • Furthermore, they provide several advantages of sensing and imaging at the molecular level and also collect multidimensional data for evaluation.

Worldwide Biophotonics Market

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By Application: The Analytical Sensing segment held the largest market share of the global biophotonics market in 2021.

  • It is a two-part analytic device that consists of two major components: a (bio) chemical microzone (recognition element) that comes into contact with the sample and is closely associated (connected or integrated) with an optical, electric, thermal, mass, or acoustic transducer for converting the recognition pattern into a (usually electric or optical) primary signal that can be amplified and measured by a detector (instrument).
  • Furthermore, they typically respond to the presence and/or concentration (activity) of an analyte species.

By Geography: North America accounts for the largest share among all regions within the Global Biophotonics market.

  • Rapid advancements in the development and adoption of digital health technologies (DHT) across North America, notably in the United States, are one of the major contributing factors to the growth of biophotonics.
  • Increasing regional government initiatives and strategies, favorable healthcare infrastructure, increased investment in R&D activities to develop the industry, and regulatory science activities across the healthcare industry are also propelling the biophotonics market growth in North America.

Global Biophotonics Industry

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Competitive Landscape

The Global Biophotonics market is highly competitive with ~200 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in pharma and diagnostics solutions, and technologies, such as vitro analyses of DNA variation, RNA expression, metabolite quantification, vivo measurements of biological processes, and others, for end-user industries. The biophotonics market's growth is heavily reliant on technological advancement and R&D investment. Nowadays, numerous pharmaceutical companies are investing in R&D or drug research, and governments are also making significant investments in cancer research.

Country-Niche players comprise about ~50% of the competitors, while regional players hold a share of ~30%. Some of the major players in the market include Affymetrix Inc., Andor Technology, BD (Becton, Dickinson and Company), Carl Zeiss AG,  Olympus Corporation, Hamamatsu Photonics K.K,  Zecotek Photonic Inc., Idex Corporation,  IPG Photonics, Oxford Instruments Plc., and among others.

Global Biophotonics Sector

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Conclusion

The Global Biophotonics Market is forecasted to continue an rapid growth that is witnessed since 2019, during the forecast period also, primarily driven by the emergence of applied science, important technological advancements over a few years, and their adoption in the medical sector. Though the market is highly competitive with over ~200 participants, few country-niche players control the dominant share.

Note: This is an On-Demand/Planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients and the report delivered within a maximum of 2 working weeks.

Ken Research has recently published report titled, Global Biophotonics Market Size, Segments, Outlook, and Revenue Forecast 2022-2028. In addition, the report also covers market size and forecasts for the four major regions in the stem cell banking Market. The revenue used to size and forecast the market for each segment is US$ billion.

Market Taxonomy

By Technology
  • In-Vivo
  • In-Vitro
By End User
  • Tests and Components
  • Medical Therapeutics
  • Medical Diagnostics
  • Non-Medical Application
By Application
  • Surface Imaging
  • Inside Imaging
  • See-through Imaging
  • Microscopy
  • Bio Sensors
  • Analytical Sensing
  • Spectromolecular
  • Others
By Region
  • North America (USA, Canada, and Mexico)
  • Europe (France, Italy, Germany, Spain, UK, and Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Australia, and Rest of Asia Pacific)
  • LAMEA (Latin America, Middle East, and Africa)
Key Players
  • Affymetrix Inc.
  • Andor Technology
  • BD (Becton, Dickinson and Company)
  • Carl Zeiss AG
  • Olympus Corporation
  • Hamamatsu Photonics K.K
  • Zecotek Photonic Inc.
  • Idex Corporation
  • IPG Photonics
  • Oxford Instruments Plc

Monday, November 28, 2022

3 Key Insights on Competitive Landscape in the Global Biophotonics Market: Ken Research

 Despite Presence of about ~200 Competitors Comprising a Large Number of Country-Niche Players and Regional Players, Few Global Players Dominate the Market, finds a recent market study on Global Biophotonics Market by Ken Research

The study of optical processes in biological systems, both naturally occurring and in bioengineered materials, is known as biophotonics. Imaging and sensing cells and tissue are particularly important aspects of this field. Injecting fluorescent markers into a biological system to track cell dynamics and drug delivery is one example.

“Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study”

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Global Players that Constitute ~20% of Total Number of Competitors Hold the Largest Market Revenue Share, While Regional Companies Represent 30% Share in Terms of the Competitors

A comprehensive competitive analysis conducted during the Research Study found that the Global Biophotonics market is highly competitive with ~200 players, including globally diversified players, regional players, and a large number of country-niche players with their niche in advancement in medical technology for multiple end-user industries. The majority of the top 20 global biopharmaceutical companies, including Affymetrix Inc., Andor Technology, BD (Becton, Dickinson and Company), Carl Zeiss AG, maintained their leading positions in the forecasted period. The majority of the country’s players offer end-to-end solutions that assist clinicians and scientists in better diagnosing diseases, discovering new and more personalized drugs, and performing disease assessments. Some of these who successfully evolve to create pharma and diagnostics solutions often get acquired by large global players seeking to grow and diversify quickly.

Country-Niche Players' and Organization’s Ongoing Efforts to Provide Life Sciences Solutions to End-User Industries Are Driving Their Revenue Growth In This Market.

Detailed comparative analysis of key competitors available within the Research Study shows that numerous biotechnology, and pharmaceuticals companies such as Oxford Instruments Plc, Carl Zeiss AG, Andor Technology, and more are highly focused on providing a significant number of healthcare solutions and advanced techniques that can be used across end-user industries. Furthermore, numerous companies and organizations are aggressively investing in advanced computation, data analytics, and increased R&D activities.

  • In March 2021, Zeiss expanded its presence in North America by launching new research and development, production, sales, and customer service center in the United States with an investment of US$ 180 million. The new site will incorporate the X-ray Microscopy business, along with the ZEISS Microscopy Customer Center, to provide support for opportunities in materials research, life sciences, and industrial applications.
  • In November 2021, Oxford Instruments launched BC43, a compact microscopy device. This device can provide real-time 3D imaging to users. 

Competitors in Biophotonics Market

Increasing Government Initiatives, Strategies in the Healthcare Sector contributing to the development of the biophotonics market.

During the acute phase of the ongoing covid-19 pandemic, clinicians faced several challenges, including timely diagnosis and hospitalization, effective utilization of intensive care facilities, selection of appropriate therapies, monitoring, and timely discharge. A prompt and precise diagnosis has several implications for the patient, the healthcare institution, and public health and administrative personnel. Amid the ongoing pandemic, healthcare systems are evolving to meet the growing infection rate worldwide. Manufacturers of optical systems and optoelectronics saw an increase in market growth during this destructive phase of the Covid-19 pandemic as they provided additional, objective information that significantly improved these aspects of patient care.

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Key Topics Covered in the Report

  • Snapshot of Global Biophotonics Market
  • Industry Value Chain and Ecosystem Analysis
  • Market size and Segmentation of Global Biophotonics Market
  • Historic Growth of Overall Global Biophotonics Market and Segments
  • Competition Scenario of the Market and Key Developments of Competitors
  • Porter’s 5 Forces Analysis of Global Biophotonics Industry
  • Overview, Product Offerings, and SWOT Analysis of Key Competitors
  • Covid-19 Impact on the Overall Global Biophotonics Market
  • Future Market Forecast and Growth Rates of the Total Global Biophotonics Market and by Segments
  • Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
  • Analysis of Global Biophotonics Market
  • Major Production/Supply and Consumption/Demand Hubs within Each Region
  • Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
  • Overview of Notable Emerging Competitor Companies within Each Region

Major Companies Mentioned in the Report

  • Affymetrix Inc.
  • Andor Technology
  • BD (Becton, Dickinson and Company)
  • Carl Zeiss AG
  • Olympus Corporation
  • Hamamatsu Photonics K.K
  • Zecotek Photonic Inc.
  • Idex Corporation
  • IPG Photonics
  • Oxford Instruments Plc

Notable Emerging Companies Mentioned in the Report

  • Lumicks
  • Creoptix
  • ThnikCyte
  • PhotoPharmics
  • Impedimed
  • Norlase
  • Vivosight
  • Speclipse

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

  • Biotechnology - Therapeutics and Diagnostics Companies
  • Pharmaceutical Companies
  • Manufacturers of Diagnostic Kits and Instruments
  • International Agency for Research on Cancer (IARC)
  • Neural Regeneration Research Organizations
  • Research Drug Monitoring Authorities
  • AI Solution Providers for Drug Discovery
  • Medical Devices manufacturers
  • Government Ministries and Departments of Healthcare

Period Captured in the Report

  • Historical Period: 2017-2021
  • Forecast Period: 2022-2028F

For more insights on the market intelligence, refer to the link below: –

Global Biophotonics Market: Ken Research

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