Biophotonics

Chronicle

2024: Global Biophotonics Market Up 5% to $62.6 Billion for the Year

At the end of 2024, the costs of the global biophotonics market reached $62.6 billion. For comparison, a year earlier, expenses were estimated at $59.7 billion. Thus, growth was recorded at 5%. This is stated in a study by Fortune Business Insights, the results of which were released on March 19, 2025.

Biophotonics is a branch of science that studies phenomena and techniques related to the interaction of biological objects and photons. We are talking about the emission, detection, absorption, reflection, modification and generation of electromagnetic radiation of the light or close to it in various biological objects. These can be molecules, cells, tissues, organisms, etc. The products of the biophotonics industry include imaging systems, laser scalpels, various measuring instruments such as spectrometers, etc.

One of the main drivers of the market in question, the authors of the study name technological advances such as artificial intelligence and machine learning. The combination of AI and biophotonics can provide a qualitatively new diagnosis - fast and high-precision. Such tools can be used to detect severe ailments, in particular malignancies, in the early stages. AI algorithms are able to analyze huge amounts of information from various sources, including medical records, imaging data, etc. In addition, generative AI can predict patient outcomes by analyzing historical indicators and identifying risk factors.

The industry is being positively impacted, analysts say, by growing investment in the healthcare sector. This contributes to continuous technological advances in imaging, microscopy and spectroscopy. At the same time, the demand for non-invasive monitoring devices capable of working in real time is increasing. Biophotonics methods allow you to obtain information about the optical properties of the skin, which are directly related to blood supply, the degree of oxygenation, etc. Thus, biophotonics provides unique opportunities for both structural and functional analysis of biological tissues, as well as for early non-invasive diagnosis and control of therapy effectiveness in various diseases.

By application of biophotonics technologies, the market is segmented into biological sensing, live cell imaging, optical sensing, etc. The first of these areas provided the largest revenue in 2024 - $22.54 billion, or 36% of the total expenses. From a geographical point of view, the Asia-Pacific region leads, which accounted for $25.78 billion: the expansion of the industry here is facilitated by growing investments in China, India, Japan, Malaysia and South Korea. Imaging systems, lasers, fiber optics, spectrometers, etc. are distinguished by product types. In 2024, the laser segment held the maximum market share of biophotonics, while imaging tools showed the highest CAGR. Significant players in the global industry are named:

• Hamamatsu Photonics;
• Olympus;
• Affymetrix;
• Zeiss;
• Zecotek Photonics;
• Becton, Dickinson, and Company;
• PerkinElmer;
• Lumenis;
• Bio-Rad Laboratories;
• Shimadzu.

In 2025, the biophotonics market size is expected to reach $66.15 billion. Fortune Business Insights analysts believe that in the future, the CAGR will be 9.1%. As a result, costs globally could increase to $121.98 billion by 2032.^[1]

Notes