DUBLIN--(BUSINESS WIRE)--The "Global Biophotonics Market - Segmented by Technology and Geography - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The biophotonics market is expected to witness a CAGR of 11.2% during the forecast period (2018-2023).
The worldwide biophotonics market is expected to witness a significant growth in the future, due to the rising old age population, along with the increasing incidence of chronic diseases. It is estimated that approximately 90% of the aged adults have at least one chronic disease. People of age 55 years, or above, are prone to various chronic diseases such as cardiovascular diseases, infectious diseases, cancer, and diabetes, and due to the rising old age population, the use of this technology is also rising, which is fueling the market for biophotonics.
The other factors include increasing use of biophotonics in cell and tissue diagnostics, emergence of nanotechnology in biophotonics, and development of novel photoacoustic tomography (PAT) system.
North America is a major market in the biophotonics industry, and this is mainly due to the US government's initiatives taken to develop this market. The United States had the largest biophotonics market in 2015. Also, the emergence of nanotechnology has driven the biophotonics market in the United States and is expected to grow in the near future.
Moreover, the high investments that are being taken in the healthcare industry and growing R&D initiatives are further expected to drive the market in this region. Europe, along with APAC, is also expected to witness a significant growth in the years to come.
Key Developments in the Market
- December 2017: Thermo Fisher Scientific completed acquisition of Phenom-World, which strengthens Thermo Fisher's leadership in electron microscopy
- September 2017: Olympus Corporation launches the ORBEYE surgical microscope with 4K 3D capabilities supporting precision surgery, with high-resolution digital images and stereoscopic visual field
Key Topics Covered
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
6. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
7. Market Segmentation
8. Competitive Landscape
9. Key Players
- Thermo Fisher Scientific Inc.
- Nu Skin Enterprises
- Becton Dickinson & Co.
- Glenbrook Technologies
- Hamamatsu Photonics KK
- Olympus Corporation
- Carl Zeiss AG
- Oxford Instruments Plc
- Zenalux Biomedical Inc.
10. Future of the Market
For more information about this report visit https://www.researchandmarkets.com/research/d33ckw/biophotonics?w=4