Global Bio-Photonics Market By End User (Tests & Components, Medical Therapeutics, Medical Diagnostics, Non-Medical Application), Technology (In-Vivo, In-Vitro), Application (See-Through Imaging, Microscopy, Inside Imaging, Spectro Molecular, Analytics Sensing, Light Therapy, Surface Imaging, Biosensors)
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The global biophotonics market is expected to reach $62,404.9 million by 2022 from $30,256.0 million in 2015, growing at a CAGR of 11.1% during the forecast period. Biophotonics is the science of generating and harnessing light to visualize, detect, and manipulate biological materials. Light and other forms of radiant energy is used in the process to comprehend the internal functioning of cells and tissues in the living organisms. Biophotonics technology would witness notable growth during the forecast period. The development in biosensors and its widespread adoption in nonmedical sector has contributed to the growth of the market.
Advancements in the research & development activities, and significant investments would further fuel the growth of the market during the forecast period. On the flip side, technological complexity and high priced biophotonics-based instruments would act as restrains to the growth of the market. The report highlights the adoption of Bio-Photonics globally.
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 geographies included in the report are North America, Europe, Asia-Pacific, & LAMEA (Latin America, Middle East and Africa). For the better analysis, the geographies are segmented into countries.