Global Biophotonics Market Research and Forecast, 2019-2025
発行: Orion Market Research Pvt Ltd
Global Biophotonics Market Size, Share & Trends Analysis Report by Technology (In-Vitro, and In-Vivo), by Application (Microscopy, Biosensors, Imaging and Other Applications), By End-Use (Medical Diagnostic, Medical Therapeutic, Medical Monitoring, and Other End-Use), and Forecasts, 2019 - 2025
Biophotonics is a technology which harnesses light-based technologies in life sciences, medicines, and related fields. Non-invasiveness and reduced time of diagnostic procedures coupled with more focused and precise therapeutic are some of the main advantages that biophotonics offer over the conventional clinical technologies. Global biophotonics market is expected to witness impressive growth over the forecast period. Major factors that are prevailing the market growth are surging geriatric population globally, increasing demand for accurate early diagnosis of diseases, and advances in optical technologies. Besides, biophotonics technology also caters to a wide range of non-medical applications which are expected to offer several growth avenues over the forecast period.
Surging geriatric population base is primarily fuelling the growth of the market. Aging is associated with the damage to the cells at a biological level. This factor weakens the immune system over time and ends the capacity of the body to repair itself, resulting in an increased risk of developing different diseases. Standards of medical care have been improving for the last 60 or so years throughout the globe. This has led to an increase in life expectancy of the population causing a surge in the size of the geriatric subgroup. According to data from the United Nations, a number of people globally with age 80 and above in 2017 was 137 million. This number is projected to reach 425 million by 2050, that is, it is estimated to get tripled of the present value. Moreover, it is expected to cross 909 million by 2100, that is increasing seven times of the value in 2017.
In addition, North America is expected to dominate the market over the forecast period owing to the emergence of nanotechnology in the region. Moreover, significant US government's initiatives and well-developed healthcare infrastructure of the region is further supporting the market growth. Additionally, the Asia-Pacific region is likely to register the highest growth due to the rapidly emerging healthcare sector in the emerging economies of the region such as China, India, South Korea, and Indonesia.
Global biophotonics market consists of several small to large players which are scattered across the globe. Players such as Agilent Technologies, Inc., Carl Zeiss Meditec AG, Biophotonic Solutions, Inc., and Becton, Dickinson & Co., adopt various strategies to stay competitive in the market and give the edge to edge competition to their rivals. Strategies such as mergers & acquisition, product launch, geographical expansion, and partnership & collaboration are majorly adopted by these market players. For instance, in September 2017, Olympus Corp. has launched the ORBEYE surgical microscope with 4K 3D capabilities. This microscope has several enhanced features such as high-resolution digital images and stereoscopic visual field which supports precision surgery.
The market study of the global biophotonics market is incorporated by extensive primary and secondary research conducted by a research team at OMR. Secondary research has been conducted to refine the available data to break down the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macroeconomic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.
The report is intended for research organizations, biotechnology companies, investment companies, government organizations for overall market analysis and competitive analysis. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.
Global Biophotonics market is segmented on the basis of regional outlook and following segments: