Yole Développement, Tematys and the European Photonics Industry Consortium (EPIC) announce their collaboration and release the new technology and market analysis: “Biophotonics Market, Focus on Life Sciences & Health Applications.” This report is distributed by Yole Développement and Tematys.
According to Benjamin Roussel, Technology and Market Analyst, Microfluidics and Medical Technologies at Yole Développement, “Biophotonics products have become increasingly rugged and cost-effective, spurring a migration from life science and healthcare applications to agro-food and environment control and monitoring. Biophotonics today has the potential to be a part of cost-effective devices targeting million-unit markets and open doors for new entrants.”
The biophotonics market is estimated to grow from $23 billion (USD) in 2012 to $36 billion by 2017, with strong compound annual growth rate (CAGR) increases for emerging opportunities in imaging and sensing modalities. Once limited to hundreds or thousands of units per year in high-end desktop devices for life sciences and healthcare applications, biophotonics today has the potential to be a part of cost-effective devices targeting million-unit markets and open doors for new entrants.
Photo: Copyright © Centre for Biophotonics, University of Strathclyde, Glasgow, Scotland, UK, 2007