Photonics is the science of generating, controlling, and detecting photons, which are particles of light. Photonics application use the photon in the same way that electronic applications use the electron. Thus, devices that run on light have a number of advantages over those that use electricity, as light travels at about 10 times the speed that electricity does.
Biophotonics Market: Introduction
The global biophotonics market has been projected in a report by Transparency Market Research
(TMR) to find players introducing the study in different non-medical applications. Several companies
operate in the global biophotonics market, including Oxford Instruments Plc., Hamamatsu
Photonics K.K., Olympus Corporation, PerkinElmer Inc., and Becton Dickinson & Co. Among these,
Hamamatsu Photonics K.K. and Becton Dickinson & Co. are projected to lead the global
biophotonics market in the next few years. They can bank on their technical expertise, brand value,
financial power, and dedicated research facilities to gain a strong foothold in the global biophotonics
TMR projects that the global biophotonics market is estimated to reach value of US$ 100.15
Bn by 2027. Among end-uses, the non-medical applications segment of the global market is
expected to witness rapid growth during the forecast period. Among regions, North America is
estimated to dominate the global biophotonics market during the forecast period.
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Growth of Elderly Population and Rise in Demand for Quality Healthcare to Drive Market
The global biophotonics market is anticipated to gain momentum during the forecast period, due to
increase in the geriatric population and rise in demand for high-quality healthcare services across
the world. In the near future, the global biophotonics market is projected to witness significant
growth, on the backdrop of availability of private and government funds offered for the research
and development purpose. Aerospace and telecom industries witnessing advancements in optical
technologies are projected to drive the global biophotonics market during the forecast period.
Rising demand for biophotonics for use in non-medical applications is expected to propel the global
biophotonics market during the forecast period. Biophotonics is employed to detect pathoge