Biophotonics Market Updates

Global Biophotonics Market size was valued at USD 64.60 Billion in 2023 poised to grow from USD 71.58 Billion in 2024 to USD 162.60 Billion by 2032, growing at a CAGR of 10.8% in the forecast period (2025-2032).

The competitive landscape of the global biophotonics market is marked by intense innovation, strategic partnerships, and increasing investments in research and development. Leading companies are focusing on advancements in optical imaging, biosensors, laser-based diagnostics, and AI-integrated biophotonics to enhance medical applications. Major international players include Thermo Fisher Scientific (USA), Carl Zeiss (Germany), Hamamatsu Photonics (Japan), Olympus Corporation (Japan), and Becton Dickinson & Company (USA). These firms are actively developing non-invasive imaging technologies, fluorescence-based diagnostics, and photonic biosensors to expand biophotonics applications in oncology, neurology, and ophthalmology while strengthening their global market presence through mergers, acquisitions, and technological advancements. 'Thermo Fisher Scientific (USA)', 'Carl Zeiss Meditec AG (Germany)', 'Olympus Corporation (Japan)', 'Hamamatsu Photonics K.K. (Japan)', 'Becton, Dickinson and Company (BD) (USA)', 'PerkinElmer Inc. (USA)', 'Abbott Laboratories (USA)', 'IPG Photonics Corporation (USA)', 'Koninklijke Philips N.V. (Netherlands)', 'HORIBA, Ltd. (Japan)', 'Zecotek Photonics Inc. (Canada)', 'Modulight, Inc. (Finland)', 'NKT Photonics A/S (Denmark)', 'Lumenis Ltd. (Israel)', 'Lightpoint Medical Ltd. (United Kingdom)'

The growing preference for non-invasive medical procedures is a key driver of the global biophotonics market. Biophotonics enables real-time, high-resolution imaging, aiding early disease detection and precision medicine. With increasing cases of cancer, neurological disorders, and cardiovascular diseases, healthcare providers are adopting biophotonic-based solutions for safer, more effective diagnostics and treatments.

Incorporated in the Year 2021, Luma Biophotonics is an Israeli startup dedicated to transforming personalized healthcare through affordable home diagnostic devices. The company focuses on creating compact analyzers that enable individuals to monitor various health parameters conveniently at home. Luma's flagship product is a compact, affordable 'lab at home' sample analyzer. This device utilizes Photonic Integrated Circuits (PICs) to perform multianalyte testing, offering timely and actionable insights for disease management. The analyzer's portability and cost-effectiveness make it accessible for routine health monitoring, potentially reducing the need for frequent clinical visits. Luma has pioneered the development of polymeric PICs, which exhibit optical properties comparable to traditional silicon-based PICs but at a significantly reduced cost. This innovation allows for sensitive, rapid, multi-omics testing suitable for home use. By making advanced diagnostic capabilities more affordable and accessible, Luma's polymeric PICs have the potential to democratize healthcare, enabling early disease detection and personalized treatment strategies.

Why is the Rising Prevalence of Chronic Diseases Driving Biophotonics Adoption in North America?