Biophotonics Market Trends

Key Emerging Trends in the Biophotonics Market

The escalating incidence of chronic and infectious diseases is significantly impacting the current business landscape. A surge in chronic ailments like tuberculosis (TB), diabetes, cardiovascular diseases, and cancer, coupled with a notable increase in patients grappling with infectious diseases such as gastrointestinal, respiratory, and sexually transmitted diseases (STDs), is reshaping the demand dynamics for diagnostic devices, thereby propelling the In Vitro Diagnostics (IVD) market. The World Health Organization (WHO) reported 10.48 million TB cases in 2016, including 0.4 million among people with HIV, resulting in 1.4 million fatalities. Furthermore, TB diagnosis and treatment efforts saved an estimated 53 million lives between 2000 and 2016, contributing substantially to the expansion of the global IVD market.

A report by the American Cancer Society in 2017 revealed an alarming surge in the global cancer burden, with approximately 8.8 million deaths in 2015. Projections from the World Cancer Report, endorsed by WHO, suggest a 50% increase in cancer rates, reaching 15 million new cases by 2020. Notable cancer types expected to witness growth include breast cancer, lung and bronchus cancer, prostate cancer, colon and rectum cancer, bladder cancer, melanoma of the skin, non-Hodgkin lymphoma, thyroid cancer, kidney and renal pelvis cancer, leukemia, endometrial cancer, and pancreatic cancer.

Furthermore, ailments like cardiovascular diseases (CVD) and diabetes are contributing to the escalating demand for in vitro diagnostic techniques. CVD emerges as the leading cause of global mortality, accounting for 17.7 million deaths in 2015, representing 31% of all global deaths, as per the World Health Organization (WHO) statistics. The application of in-vitro diagnostics proves to be an effective method for detecting these cancers, underscoring its pivotal role in the diagnostic landscape.

The World Health Organization underscores tobacco as a preventable risk factor responsible for approximately 6 million deaths annually, attributed to cancer and other diseases. Additional environmental factors, such as certain infections (hepatitis, Human Papillomavirus or HPV), and exposure to ionizing radiation and pollutants, further contribute to the rise of diseases like cancer and cardiovascular ailments. These factors are anticipated to serve as drivers for the growth of diseases, thereby favoring the diagnostic procedures within the IVD realm.