Biophotonics Market Segmentation Estimates, Product
Benchmarking Forecast 2013-2024
“Biophotonics Market is anticipated to witness high penetration in point-of-
care devices, owing to the potential of minute observations which may offer
targeted therapy options without causing any side effects. The advancements
in the biosensors coupled with rapid applications of light therapy and
microscopy are also expected to contribute towards industry growth.”
The global Biophotonics Market was valued at USD 34.29 billion in 2015 and is expected to reach USD 91.31
billion by 2024. The growth is primarily attributed to the advancements in nanotechnology, increasing the
sophistication of medical devices and healthy demand for point-of-care treatment solutions. Biophotonics
involves the use of light energy to detect measure and manipulate the biological materials or activities. The
growing sophistication of medical research is expected to fuel further studies in this field, thereby providing
avenues for market growth. Besides research, biophotonics finds application in the biotechnology, defense,
therapeutic, diagnostic and agriculture sector.
In-vitro diagnostic and medical imaging is expected to be the core application areas for biophotonics. However,
the increased government support for innovative and affordable therapy may provide wider application scope
and is expected to impact the market growth positively. Biophotonics is anticipated to witness high penetration
in point-of-care devices, owing to the potential of minute observations which may offer targeted therapy
options without causing any side effects. The advancements in the biosensors coupled with rapid applications
of light therapy and microscopy are also expected to contribute towards industry growth. Biophotonics
techniques are rapidly deployed in agriculture applications for testing the crops. Microfluidics and monitoring
techniques are expected to dominate the agriculture sector, owing to advancements in food surveillance and
testing procedures. Genetically modified crops may also provide growth opportunities due to applications of
this technology in biotechnology laboratories and research centers.
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