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Technological advancements in the field of diagnostics, rise in incidences of chronic diseases, and growing awareness about healthcare are the factors that would contribute to the growth of the biophotonics market. The growing geriatric population has driven the need for medical diagnostics, which would drive the market growth significantly.
Factors such as rising incidences of chronic disorders, growing demand for non-invasive and nonionizing diagnostic modalities, and an introduction of new and advanced technologies in the field of diagnostics and imaging would fuel the growth of the biophotonics market. However, the restrained rate of commercialization acts a hindrance to the market growth.
The application areas of the technology are too vast and that is another challenge for market growth. The rate of adoption of biophotonics is relatively slow due to price sensitivity, low acceptance from end users, and concerns related to the quality, authenticity, and reliability of the products. The report highlights the adoption of Bio-Photonics in Asia Pacific.
Based on End User, the market is segmented into Tests & Components, Medical Therapeutics, Medical Diagnostics and Non-Medical Application. Based on Technology, the market is segmented into In-Vivo and In-Vitro. Based on Application, the market is segmented into See-Through Imaging, Microscopy, Inside Imaging, Spectro Molecular, Analytics Sensing, Light Therapy, Surface Imaging and Biosensors. The countries included in the report are China, Japan, India, South Korea, Singapore, Malaysia and Rest of Asia Pacific.