Biophotonics Market Size

Global Biophotonics Market Overview

The Biophotonics Market Size was valued at USD 58.3 Billion in 2022 and is projected to grow from USD 64.6 Billion in 2023 to USD 146.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.80% during the forecast period (2023 - 2032). The rise of nanotechnology in biophotonics, the rising elderly population, the expanding application of biophotonics in cell and tissue diagnostics, and the creation of innovative photothermal tomography (PAT) systems are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Biophotonics Market Trends

• The noteworthy technological advancements over the decade is driving the market growth

Many optical technologies that enable the interaction of light or photons with different biological species, molecules, cells, and tissues are developed using biophotonics. There are two subcategories of biophotonics: research and clinical applications. Three subcategories of research—photo mechanics, spectroscopy, and fiber optic sensors—can also be made. In dentistry, photomechanics is utilized to examine the connection between macroscopic mechanical stress and strain gradients. Studying the interplay between radiated energy and matter is made easier by spectroscopy. Last but not least, chemical and physical properties can be remotely sensed using fiber optic sensors.

Big data technologies and machine learning are rapidly being employed in biomedical and healthcare research because enormous volumes of clinical and biological data are being generated and acquired at an unparalleled size and speed. The existing analytical methods employed in biophotonics can only collect data from datasets' surface, which results in the loss of important information that these datasets may be able to supply. As a result, technologies like machine learning and big data have been integrated to perform an in-depth analysis of these datasets and produce more usable information.

Users that utilize machine learning techniques can detect more subtle and complicated signals as well as particles. Despite the fact that researchers have been able to capture images with extremely high content that show the locations of numerous molecules of moving particles, some of these images have very low contrast, a noisy background, and fuzzy edges, making it difficult to count the precise number of particles present in the image and necessitating manual counting. Researchers have started employing machine learning techniques, which train the computer to recognize and identify specific particles in the image, to get rid of these complexity. The adoption of biophotonics is being accelerated by the thorough analysis and extraction of crucial information that machine learning may be able to enable. Thus, driving the Biophotonics market revenue.

Biophotonics Market Segment Insights

Biophotonics Application Insights

Based on the application, the market segments of biophotonics is divided into Microscopy, See-through Imaging, Light Therapy, Biosensors, Inside Imaging, and Surface Imaging (endoscopy) and Others. In 2022, the see-through imaging segment accounted for the largest share of the market, with 42.4% and a market revenue of over USD 21.9 Billion. The see-through imaging market maintained the largest market share as a result of the ongoing need for radical non-invasive surgical procedures in a number of medical specialities, including cardiology, neurology, brain imaging, and oncology. Transparent imaging techniques have made considerable strides over the past ten years, especially in the fields of drug discovery and medical diagnosis.

Figure 1: Biophotonics Market, by Application, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Biophotonics Application Insights

Based on the application, the market segmentation of biophotonics is divided into In-vivo and In-vitro. The in-vivo category dominated the market. There are several medical uses for in vivo biophotonics, including optical breast cancer imaging, functional brain imaging, endoscopy, exercise medicine, and tracking photodynamic treatment and neoadjuvant chemotherapy progress.

Biophotonics End Use Insights

Based on the end use, the biophotonics market segmentation is divided into Medical Therapeutics, Medical Diagnostics, and Others. The key end-use segments comprise medical therapeutics, medical diagnostics, and others (non-medical application). The medical diagnostics segment held the largest market share in 2023, because a variety of end users, including healthcare providers, instrument manufacturers, medical institutions, and research labs, have adopted it. However, due to its environmental screening and monitoring capabilities, the non-medical application is anticipated to become more popular over the projected period.

Biophotonics Regional Insights

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America biophotonics market currently dominates and is expected to continue its stronghold for a few more years. The growth of nanotechnology has also been a major factor in the U.S. biophotonics sector. The Jenoptik Light and Optics Biophotonics Group received a number of new development orders in North America in November 2020. The first order is for the creation of a camera system for a future fiber-optic medical equipment that will be included into a robotic surgical tool. The design of several subassemblies for a tier-1 eye care company's next-generation ophthalmology surgery system is the focus of the second development project. For the third phase, Jenoptik will deliver a cutting-edge automated microscope for inline cellular analysis in collaboration with a leading international provider of medical laboratory equipment. The fourth initiative is an extension of an ongoing collaboration with a provider of real-time point-of-care (POC) serology tests in medicine. U.S. market of biophotonics held the largest market share, and the Canada market of biophotonics was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: BIOPHOTONICS MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The Europe biophotonics market is a significant player in the global biophotonics industry, driven by the desire for better healthcare services, rising healthcare costs, and an aging population. The region has a strong healthcare infrastructure and a sizable presence of major biophotonics market players. A large market portion of the biophotonics in Europe is anticipated to be accounted for by the medical diagnostics sector due to the rising demand for non-invasive and sophisticated diagnostic tools. Because microscopy techniques are being used more frequently in medical research and diagnostics, the microscopy application segment is also anticipated to experience significant expansion in the region. Further, the German biophotonics market held the largest market share, and the U.K. biophotonics market was the fastest growing market in the European region

Asia Pacific biophotonics market is projected to emerge as the fastest-growing region over the forecast period. This is a result of the rapid industrialization that is occurring in nations like China, Malaysia, India, and South Korea. Due to expanding government efforts, improvements to healthcare facilities, and increased investment by the major industry participants, the market of biophotonics in Asia Pacific is anticipated to grow over the next years. China’s market of biophotonics held the largest market share, and the Indian biophotonics market was the fastest growing market in the Asia-Pacific region.

Biophotonics Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the market of biophotonics, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Biophotonics industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Biophotonics industry to benefit clients and increase the market sector. In recent years, the Biophotonics industry has offered some of the most significant advantages to medicine. Major players in the market of biophotonics, including Oxford Instruments, Olympus Corporation, Lumenis Be Ltd., IDEX, Zenalux Biomedical, Inc., Glenbrook Technologies, Photonics Media, and Thermo Fisher Scientific Inc.

Manufacturer of optical and digital precision equipment and tools is Olympus Corp (Olympus). The business creates, produces, and sells tools and gadgets for the medical, healthcare, imaging, information, and other commercial areas. It provides scientific solutions like laser scanning microscopes, industrial and biological microscope systems, remote visual inspection products, and non-destructive testing systems, as well as medical systems like endotherapy devices, endoscopes, and endoscopy products to assist healthcare professionals in treating patients. Additionally, it provides services for system development and biological materials. The business has operations in the Americas, Europe, and Asia-Pacific through its subsidiaries and facilities. Japan's Tokyo is home to Olympus Corp. Olympus U.S.A debuted their most recent endobronchial ultrasound (EBU.S.) technology for the needle biopsy diagnosis and staging of lung cancer on May 12, 2021. The FDA 510(k) has approved the recently introduced BF-UC190F EBU.S. bronchoscope, making it the newest member of Olympus America's EBU.S. range.

The optical and opto-electronic sector is dominated by the Carl Zeiss AG group of businesses, which operates globally. The three futuristic markets of industrial solutions, lifestyle products, and medical and research solutions are where the five separately running company groupings are active. The corporation has its headquarters in Oberkochen, Germany, and was established in Jena in 1846. For more than 160 years, the firm has been a technological leader in optical innovation. The Carl Zeiss Stiftung owns the entirety of Carl Zeiss AG (Carl Zeiss Foundation). Almost 13,000 people work for Carl Zeiss worldwide, including more than 8,000 in Germany. With an expenditure of USD 180 million, Zeiss opened a new research and development, production, sales, and customer support facility in the U.S. in March 2021, expanding its footprint in North America. The X-ray Microscopy business and the ZEISS Microscopy Customer Center will both be included on the new site to serve the prospects in materials research, life sciences, and industrial applications.

Key Companies in the market of Biophotonics include

• Oxford Instruments


• Olympus Corporation


• Lumenis Be Ltd.


• IDEX


• Zenalux Biomedical, Inc.


• Glenbrook Technologies


• Photonics Media


• Thermo Fisher Scientific Inc.

Biophotonics Industry Developments

In November 2021 Portable microscope BC43 was unveiled by Oxford Instruments. Users of this technology can access 3D photos in real-time.

In April 2021 For $3.28 million, Clearbridge BioPhotonics sold its Fourier Ptychographic Microscopy patent portfolio to CellaVision, a Swedish firm that provides digital morphology solutions (SEK 28.7 million). CellaVision will have access to and control over a promising new technology as a result of this acquisition. Future automated microscopes for use in hematology and related fields may be developed using CellaVision's Fourier Ptychography Microscope technology, according to the company. The U.S.-based provider of imaging systems is called Clearbridge Biophotonics, Inc.

Biophotonics Market Segmentation

Biophotonics Application Outlook

• Microscopy


• See-through imaging


• Light therapy


• Biosensors


• Inside imaging


• Surface imaging (endoscopy)

Biophotonics Technology Outlook

• In-vivo


• In-vitro

Biophotonics End-Use Outlook

• Medical Therapeutics


• Medical Diagnostics


• Others (non-medical application)

Biophotonics Regional Outlook

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  North America

  
  
  
  
  • U.S.
  
  
  • Canada
  
  
  
  


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  Europe

  
  
  
  
  • Germany
  
  
  • France
  
  
  • K.
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


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  Asia-Pacific

  
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America