LEDs Used In Biophotonic and Medical Devices Market Forecast
According to ElectroniCast, LEDs in Biophotonics & Medical Science devices are set to increase in value by a multiple of five-times (5x)...
Online, June 3, 2013 (Newswire.com) - ElectroniCast Consultants, a leading market/technology consultancy, today announced the release of a new market study of the global consumption of packaged light emitting diodes (LEDs) used in Biophotonic and Medical Science devices.
The global consumption value of LEDs in selected biophotonic and medical devices in 2012 was $64.5 million. The consumption value is forecast to increase at an average annual growth rate of 26 percent to $324.7 million in 2019, with strong quantity growth partially offset, by a decline of average prices.
The LED market is segmented into the following sub-application categories:
• Sensing/Detection and Analytical/Monitoring
• Photo-therapy/Sanitation/Cell Regeneration/Curing
• Instrumentation Light Source and Imaging
According to the ElectroniCast report, Sensing/Detection and Analytical/Monitoring applications represent over 60% of the worldwide consumption value of packaged LEDs in the selected and biophotonic and medical science devices in 2013, followed by the Photo-therapy/Sanitation/Cell Regeneration/Curing application. The Instrumentation Light Source and Imaging end-user application is forecast to increase at an average annual growth rate of 27 percent.
The market data for are also segmented by the following colors (type):
• Red
• Green
• Blue
• White
• Multiple Color/Multiple Chip
• UV and Other
Red LEDs (including visible red, infrared/IR and near-IR), in 2012, represented a 50 percent share of worldwide marketplace of LEDs in Medical and Biophotonic devices; however, in 2019, the market share for Red LEDs is forecast to drop substantially, as most of the other color categories increase in value at a faster clip during the 2012-2019 timeframe.
The American region currently commands well-over 40 percent share of worldwide market in 2013; however the both the EMEA region and the APAC region are forecast for faster growth.