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Biophotonics Market Predicted to Hit $133 Billion by 2016

Photonics.com
Nov 2006
The biophotonics industry -- a combination of photon-based experimental manipulation and advanced optical imaging to examine biological functions at the cellular level -- is growing at approximately 31 percent annually, with worldwide revenues reaching $11 billion in 2006. According to "Biophotonics: A Strategic Assessment of Photonics Technologies for Biomedical Applications" from independent life science market research firm Kalorama Information, the market will soar to $133 billion by 2016 as the techniques become standard operations in the fields of pharmaceutical discovery and development; molecular biology research, such as proteomics and genomics; histology/cytology research; and clinical research, including oncology and virology. The market for biophotonics technology and products is part of the larger photonics and optoelectronics market, the company said, and interplay between the markets keeps the technology advancing at a fast pace. 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 speed and performance of biophotonic approaches is expected to induce rapid replacement of existing products as well as technology upgrades to existing biophotonic systems. The report can be purchased at www.kaloramainformation.com/pub/1190814.html or www.marketresearch.com


GLOSSARY
photonics
The technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science includes light emission, transmission, deflection, amplification and detection by optical components and instruments, lasers and other light sources, fiber optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. The range of applications of photonics extends from energy generation to detection to communications and...
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