Biophotonics market to reach $133 billion?
NEW YORK, NY-According to new research from Kalorama Information, the business of looking at biological functions at the cellular level or even smaller is big-“really big.
NEW YORK, NY-According to new research from Kalorama Information, the business of looking at biological functions at the cellular level or even smaller is big-“really big.” Kalorama’s latest report, “Biophotonics: A Strategic Assessment of Photonics Technologies for Biomedical Applications,” finds that this market is growing at 31% annually, with worldwide revenues reaching $11 billion in 2006. In addition, Kalorama says the market will soar to $133 billion by 2016 as optical imaging techniques become the accepted standard in drug discovery, molecular biology research, histology/cytology research, and clinical research.
“The market base for biophotonics is quite large, consisting of research laboratories in institutes, universities, industry and hospitals; clinical lab settings, both commercial and hospital; and hospital radiology settings,” said Kenneth Krul, the report’s author. “The increased usage of biophotonics in these settings should result in increased levels of drug development activity, as well as making diagnostics, therapeutics, and imaging development more efficient and effective.”
“Biophotonics: A Strategic Assessment of Photonics Technologies for Biomedical Applications” focuses on the technology of biophotonics, its applications to biomedical research, its potential for clinical applications, and the progress that is being made in these fields. Report findings show that key to growth in biophotonic technology is its ability to augment and even replace many current technologies in research, in vitro diagnostics, imaging, and even therapeutics. The report includes global forecasts and market analysis with a focus on the U.S., plus profiles of major players in the field.