Biophotonics Market Overview, Segment Analysis, Growth Drivers and Future Scope
The global biophotonics market is growing significantly due to advancement in optical technology, high incidences of chronic diseases, and increasing demand for minimally invasive surgeries. The massive unexplored biophotonics market in the emerging economies and large number of non-medical applications of biophotonics are creating ample opportunities for the growth of the global biophotonics market. The advanced research and development facilities and new product development by the key market players are propelling the demand for cost effective biophotonics instruments, thus fuelling the growth of the global biophotonics market.
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Biophotonics refers to the development of optical techniques for studying, imaging and detecting, various biomolecules, cells and tissues. Biophotonics is the combination of photonics and biology. It utilizes photons (light) to study the inner working of biological materials, such as cells and tissues. Biophotonics has a range of applications ranging from medicine to food, and molecular biology to agriculture. The applications of biophotonics in medicine include detection, diagnosis and treatment of various diseases. In the food and agriculture industry, biophotonics is primarily used to detect pathogens; whereas in molecular biology, biophotonics is used to study and understand the functions and mechanisms of DNA, protein and other biomolecules.
Some of the factors driving the growth of the global biophotonics market are aging population, increasing prevalence of chronic diseases, advancements in optical technology, and up surging research and development expenditure by major players in the market. In addition, the increasing focus on minimally invasive surgeries and growing usage of biophotonics instruments in agriculture and food industry, are propelling the growth of the global biophotonics market. However, lack of skilled professionals, high cost of biophotonics instruments and complexity of biophotonics techniques are some of the factors, restraining the growth of the global biophotonics market to some extent.
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Geographically, North America leads the global biophotonics market, due to advancement in biophotonics techniques, high healthcare expenditure, increasing incidences of chronic diseases and growing geriatric population. In addition, the increasing usage of biophotonics in food and agriculture, high government funding for research and development in biophotonics, and stringent regulation regarding food security are fuelling the growth of the biophotonics market in North America.
The major players operating in the global biophotonics market are Hamamatsu Photonics K.K., Becton Dickinson and Company, PerkinElmer Inc., Oxford Instruments PLC, OLYMPUS CORPORATION, Affymetrix Inc., and Carl Zeiss Stiftung.
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