Key Findings
The European market for biophotonics is thriving at a CAGR of 9.81% throughout the forecasting years of 2019-2027. The high growth rate of the geriatric population within the region will increase the frequency of numerous chronic diseases which in turn are expected to propel the demand for biophotonics therapy during the forecasting years. The UK, Germany, France, Italy, Spain and the Rest of Europe are considered for the market study.

Market Insights
Germany is expected to grasp the largest stock share of the biophotonics market by 2027 due to the country’s healthcare sector being funded by public institutions and government subsidies. Conversely, the United Kingdom is expected to grow at the best CAGR in the forecasting period due to the steady increase in the occurrence rate of chronic diseases in the country. The presence of leading medical device companies like GE Healthcare, Medtronic PLC, TE Connectivity, etc. in the region has turned the European region to stand at the second in the global biophotonics market.

Competitive Insights
There are major market players in the biophotonics market are Idex Corp., OpGen, Becton, Dickinson, & Company, Perkinelmer, Inc., Fisba AG, Medlumics SL, MKS Instrument, Olympus Corporation, Zecotek Photonics Inc., Oxford Instruments, Lumenis Ltd., Halma PLC, Thermo Fisher Scientific Inc., Hamamatsu Photonics K.K. and Carl Zeiss AG.