Biophotonics Market Recent Trends, Demand, Dynamic Innovation in Technology & Insights 2031

The global biophotonics market is anticipated to witness an impressive growth of over 11.3% CAGR during the forecast period of 2031, forecasts ESOMAR-certified consulting firm Future Market Insights.

Growing geriatric population and extensive use of biophotonics in cell and tissue diagnostics are the key factors propelling the market growth. Advent of nanotechnology in biophotonics and increasing application of biophotonics within light therapy and microscopy will improve the demand.

Since light therapy devices are becoming more and more popular in the healthcare sector, biophotonics is widely used in this field. Additionally, the government’s funding and investment in medical diagnostics are increasing market demand.

The integration of detection, diagnosis, and staging during endoscopy is giving market players options for expansion. The market demand will increase as a result of significant advancements in the field of see-through imaging techniques, particularly in the areas of drug discovery and medical diagnostics.

The market will rise as a result of the widespread use of biophotonics endoscopic procedures, particularly in providing functional and biochemical information for the application of medicinal therapies.

Increasing geriatric population and rising prevalence of lifestyle diseases such as obesity, insomnia and others have improved the demand of light therapy in the field of medical therapeutics. This in turn will bolster the growth of biophotonics market.

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Biophotonics Market Segments

By Application:

See-Through Imaging
Microscopy
Inside Imaging
Spectro Molecular
Analytics Sensing
Light Therapy
Surface Imaging
Biosensors

By Application:

See-Through Imaging
Microscopy
Inside Imaging
Spectro Molecular
Analytics Sensing
Light Therapy
Surface Imaging
Biosensors

By End User:

Tests And Components
Medical Therapeutics
Medical Diagnostics
Non-Medical Application
Tests And Components
Medical Therapeutics
Medical Diagnostics
Non-Medical Application

Competitive Landscape

Key players in the biophotonics market are focusing on new product launches for the expansion of their product portfolios. Adoption of latest technology in the healthcare sector have enabled the advent of the new players, leading to a competitive market. Prominent market players are forging alliances with other top healthcare companies to maintain their position in the industry.

For instance,

In June 2021, Alberta Biophotonics Inc. announced the acquisition of additional shares of Flurotech Limited, pursuant to a three-cornered amalgamation between the FluroTech, FluroTest Systems Ltd. and 2330853 Alberta Ltd. Recently, another key player PhotoniCare Inc. announced the funding of more than US$ 7 million to commercially expand its imaging technology, TOMi Scope.

In May 2021, Olympus America announced the launch and clearance of its BF-UC190F endobronchial ultrasound (EBUS) bronchoscope, a new addition to its EBUS portfolio of devices for lung cancer diagnosis and staging via needle biopsy

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