The biophotonics market size is poised to grow by $ 182.74 billion by 2033 from $ 68.25 billion in 2023, exhibiting a CAGR of 10.35% during the forecast period 2024-2033.
Key Takeaways
- North America region has contributed the largest share of 38% in 2023.
- Asia-Pacific region is estimated to expand at the fastest CAGR of 13.54% during the forecast period.
- By end-use, the medical diagnostics segment has held the largest market share of 66% in 2023.
- By end-use, the non-medical application segment is anticipated to grow at a remarkable CAGR of 13.27% during the forecast period.
- By technology, the in-vitro segment has generated the largest market share of 59% in 2023.
- By technology, the in-vivo segment is expected to expand at the fastest CAGR of 11% over the projected period.
- By application, the analytics sensing segment has accounted more than 24% market share in 2023.
- By application, the see-through imaging segment is expected to expand at the fastest CAGR over the projected period.
The Biophotonics market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Biophotonics market for the base year 2023 and the forecast between 2023 and 2033. Market numbers have been estimated based on form and application. The market size and forecast for each application segment have been provided for the global and regional market.
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This report focuses on the global Biophotonics market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Biophotonics market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Biophotonics market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Biophotonics capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Biophotonics by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Biophotonics market. These figures have been provided in terms of both revenue and volume for the period 2023 to 2033. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
About production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Biophotonics market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Biophotonics market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Biophotonics industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Competitive Landscape:
Biophotonics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Biophotonics market.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Biophotonics. The global market is segmented based on region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
Recent Developments
- In April 2021, the Indian government initiated the Production Linked Incentive Scheme (PLI 2.0) with the objective of fostering India's manufacturing capabilities in the in vitro diagnostics sector. The scheme seeks to encourage increased investment and output, aiming to cultivate global players originating from India who can leverage modern technology to expand and integrate into global value chains.
- In March 2021, Zeiss bolstered its presence in North America through the inauguration of a new research and development, production, sales, and customer service center in the United States, involving a substantial investment of USD 180 million. This facility will house the X-ray Microscopy business and the ZEISS Microscopy Customer Center, providing comprehensive support for endeavors in materials research, life sciences, and industrial applications.
- In November 2021, Oxford Instruments introduced the BC43, a compact microscopy device capable of delivering real-time 3D imaging to users.
Biophotonics Market Companies
- Thermo Fisher Scientific Inc.
- Hamamatsu Photonics K.K.
- Olympus Corporation
- PerkinElmer Inc.
- Becton, Dickinson and Company
- Carl Zeiss AG
- Andor Technology Ltd.
- Affymetrix, Inc.
- Bruker Corporation
- Newport Corporation
- Nikon Corporation
- Coherent, Inc.
- Idex Corporation
- Lumenis Ltd.
- Corning Incorporated
In this study, the years considered to estimate the market size of Biophotonics are as follows:
- History Year: 2017-2022
- Base Year: 2022
- Forecast Year 2024 to 2033
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After completing market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2022) and forecast (2021-2033);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
Market Segmentation
By End-use
- Tests and Components
- Medical Therapeutics
- Medical Diagnostics
- Non-medical Application
By Technology
- In-Vitro
- In-Vivo
By Application
- See-Through imaging
- Microscopy
- Inside Imaging
- Spectro Molecular
- Analytics sensing
- Light therapy
- Surface imaging
- Biosensors
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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