$50+ Billion Biophotonics Market by Medical Applications, Non-Medical Applications and Regions - Global Forecasts To 2020

Dublin, Feb. 24, 2016 -- Research and Markets (http://www.researchandmarkets.com/research/flp2xt/biophotonics) has announced the addition of the "Biophotonics Market by Medical Applications (Bioimaging, Bioassays, Optical Biosensors and Biochips, Medical Devices), Non-Medical Applications (Biometric and Biosensing Devices, Uv Sterilization Equipment), and Regions - Global Forecast To 2020" report to their offering.

The global biophotonics market is expected to reach USD 50.18 Billion by 2020 from USD 26.26 Billion in 2014, at a CAGR of 11.5% from 2015 to 2020

This market is primarily driven by the emergence of nanotechnology, significant technological advancements, increasing demand for home-based POC devices, aging population, and growing lifestyle diseases. Biophotonics technologies enable better imaging of tissues and other biological entities, thereby enhancing the drug discovery process and biomedical research.

The largest market segment for biophotonics market, by application is see-through imaging, however the fastest growing segment is surface imaging. There have been significant developments in the field of see-through imaging techniques in recent years, especially in drug discovery and medical diagnostics. Over the years, see-through imaging has emerged as an effective tool for in-vitro and in-vivo imaging, and become an integral part of biomedical research. However, a fundamental factor in the growth of the surface imaging market is endoscopy, which has witnessed exponential growth in recent years owing to an increased patient acceptance for minimally invasive procedures for treatment as well as diagnosis.

However, slow rate of commercialization is hindering the growth of this market. Considering the vast application areas, it has become very challenging for players to commercialize the biophotonics technology. Moreover, the biophotonics market is going through a slow rate of commercialization, which is primarily due to price sensitivity, low acceptance from end users, and concerns related to quality, authenticity, and reliability of products.

Becton, Dickinson and Company (U.S.) is one of the key companies in this market because of its financial power, brand value, and technical expertise; it is a well-known medical technology company that serves healthcare institutions, life sciences researchers, clinical laboratories, industry and the general public.

Another major company is Hamamatsu Photonics K.K. (Japan) because of its expertise in optical sensors, photodiodes, photo ICs, image sensors, and other opto-semiconductor elements. Hamamatsu has a dedicated research laboratory in Tsukuba (Japan) where research primarily related with biophotonics in the field of life sciences is conducted.

Companies Mentioned

- Affymetrix, Inc.
- Andor Technology Ltd
- Becton, Dickinson and Company
- Carl Zeiss AG
- FEI Company
- Hamamatsu Photonics K.K.
- Lumenis Ltd.
- Olympus Corporation
- Perkinelmer, Inc.
- Zecotek Photonics Inc.

For more information visit http://www.researchandmarkets.com/research/flp2xt/biophotonics

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