Biophotonics Market – Global Industry Analysis, Leading Players and Growth Drivers to 2023

Biophotonics MarketThe global biophotonics market is growing significantly due to advancement in optical technology, high incidences of chronic diseases, and increasing demand for minimally invasive surgeries. The massive unexplored biophotonics market in the emerging economies and large number of non-medical applications of biophotonics are creating ample opportunities for the growth of the global biophotonics market. The advanced research and development facilities and new product development by the key market players are propelling the demand for cost effective biophotonics instruments, thus fuelling the growth of the global biophotonics market.

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Some of the factors driving the growth of the global biophotonics market are aging population, increasing prevalence of chronic diseases, advancements in optical technology, and up surging research and development expenditure by major players in the market. In addition, the increasing focus on minimally invasive surgeries and growing usage of biophotonics instruments in agriculture and food industry, are propelling the growth of the global biophotonics market. However, lack of skilled professionals, high cost of biophotonics instruments and complexity of biophotonics techniques are some of the factors, restraining the growth of the global biophotonics market to some extent.

Asia-pacific is the fastest growing region in the global biophotonics market. The major reasons for the fastest growth of the Asia-Pacific biophotonics market are increasing research and development activities, growing usage of biophotonics techniques in food industry, and up surging healthcare expenditure. Moreover, the biophotonics market in the region is growing rapidly, due to high prevalence of chronic diseases, increasing geriatric population and improving healthcare infrastructure in the emerging economies, such as India and China.

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The major players operating in the global biophotonics market are Hamamatsu Photonics K.K., Becton Dickinson and Company, PerkinElmer Inc., Oxford Instruments PLC, OLYMPUS CORPORATION, Affymetrix Inc., and Carl Zeiss Stiftung.

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Agricultural Biotechnology Market Size, Share, Growth and Forecast to 2023

Agricultural Biotechnology Market

The agricultural biotechnology market is growing at a significant rate due to growing cultivation area of genetically modified crops and rising demand for bio fuels. Increased research and development activities and regulatory support in Asia-Pacific and Africa are giving ample opportunities to the agricultural biotechnology market to grow at a significant rate in the coming years. North America dominates the agricultural biotechnology market due to greater focus on bio-services and higher adoption of biopharmaceuticals.

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Biotechnology has extensive opportunity in science based companies and research firms. Biotechnology is significantly useful in the area of medicine and healthcare. The pharmaceutical industry is witnessing several biotechnologies related research and development activities. Bioinformatics and Pharmaco-genomics are interdisciplinary fields, which have stemmed from biotechnology, and considerable development has been made in the areas of drug delivery, personalized medicine and drug discovery. Biotechnology ensures high crop yield, better crop quality and better nutritional value of crops in the area of agriculture.

Agricultural biotechnology is a collection of tools and scientific procedures used on living organisms and plants for improving agricultural crop productivity. Agricultural biotechnology is mainly used to modify the genome sequence of crops and the crops are termed as transgenic or genetically modified crops. Agricultural biotechnology benefits producers and farmers by yielding more crop and high-quality food.

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Some of the competitors in the agricultural biotechnology market are Dow AgroSciences LLC, Global Bio-chem Technology, Performance Plants Inc., Syngenta AG, Bayer CropScience AG, KWS SAAT SE, Pioneer Hi-Bred International Inc., Monsanto Company, ADAMA Agricultural Solutions Ltd, Evogene Ltd, Mycogen Seeds, Certis USA, and Vilmorin & Cie SA.