Besides agriculture , the defense sector is also expected to provide growth opportunities owing to the emergence of chemical and biological warfare . The market is segmented , by the application into spectro molecular , surface imaging , biosensors , see-through imaging , light therapy and microscopy . The see-through imaging sector is expected to command the highest share owing to the healthy demand for non-invasive treatment and applications in brain imaging . On the basis on end-use , the market is segmented into medical therapeutics and diagnostics , its related test components and non-medical applications . Although the medical sector accounts for the ongoing industry growth , future growth may be due to the increased use in the nonmedical fields such as agriculture and defense . Environment monitoring applications may also propel the market demand over the next eight years .
North America biophotonics market accounted for a sizeable share in 2015 owing to sound investment in R & D and the healthcare industry . Asia Pacific market is expected to witness significant growth due to rising geriatric population . Companies may eye developing countries such as Thailand and India , which are increasing their expenditure on healthcare facilities and R & D . Technological advancements in imaging techniques are poised to keep research active . Imaging solutions such as 3D volumetric mapping are emerging as the key research areas providing an upsurge in uptake .
Browse Full Research Report @ https :// www . millioninsights . com / industry-reports / biophotonics-market
However , owing to the nascent nature of such technologies , the applications are limited . Active collaboration of computer engineers and biologists is expected to help overcome challenges , eventually leading to industry growth . Further , y the ongoing research in nanotechnology is anticipated to provide growth opportunities . The industry supply chain includes biologists and imaging solutions providers , which may integrate research to develop new products . The industry may face fierce competition leading to utilization of biophotonic devices at home . It may incentivize companies to develop competencies either by research or merger & acquisitions . Precision Photonics ’ acquisition by Idex Corporation is one such example , leading to the development of inhouse manufacturing capabilities for Idex . The healthy growth potential may incentivize firms to enter the industry . However , with only a handful key player with hefty investments , there is a potential barrier to new entrants .
Key players in the sector include AdvanDx , Affymetrix , Andor , Carl Zeiss , FEI Company , Hamamatsu Photonics , Lumenis , Olympus Corporation and Zecotek Photonics . The industry exhibits significant dominance of the USbased firms Affymetrix , which is established player in the healthcare instrument sector and FEI Company , which is into microscopy and imaging solutions .