According to ElectroniCast, the use of LEDs in Test/Measurement & Medical and other Science devices increased nearly 12% in 2018 versus 2017…
Aptos, CA (USA) – April 4, 2019 – ElectroniCast Consultants, a leading market/technology consultancy, today announced the release of an update and application expansion to their annual market study and forecast of the use of packaged light emitting diodes (LEDs) used in test/measurement, medical and other science devices.
Last year (2018), the global consumption value of packaged LED chips in the selected devices reached $476 million, up from $426 million versus the previous year (an increase of 11.7 percent). The value is forecasted to continue to increase in all product categories, with strong to moderate quantity growth, partially offset by a decline of average prices, especially during the 2018-2023 timeframe. Market forecast data refers to LED consumption for a particular calendar year; therefore, this data is not cumulative data.
The market data for are also segmented by the following colors (type): Red, Green, Blue, White, Multiple Color/Multiple Chip, and UV and others.
According to the study, the worldwide value of UV-LED packaged chips used specifically for test/measurement, medical and other science applications is forecast to reach over $360 million in 2028. “Many devices, which have traditionally used mercury (Hg)-vapor Ultraviolet (UV) lamps are now utilizing LEDs, capable of producing UV radiation,” said Stephen Montgomery, president of the California-based consultancy.
This LED market study is also segmented into the following major application categories:
- Sensing/Detection and Analytical/Monitoring
- Photo-therapy/Sanitation/Cell Regeneration/Curing
- Instrumentation Light Source and Imaging
Sensing/Detection and Analytical/Monitoring applications, in 2018, represented 33.7 percent of the worldwide consumption value of packaged LED chips in the selected test/measurement and medical/science devices. The relative market share of LEDs used in the Sensing/Detection and Analytical/ Monitoring applications is forecast to increase to 37.5 percent in value in 2028.
Also, covered in the study are the use of LEDs in horticulture, sterilization of surface areas, air and water, medical, health & beauty Photodynamic Therapy (PDT), as well as medical/science curing, and several other uses. LEDs used in Instrumentation Light Sources and Imaging devices are forecast to increase in value by a multiple factor of nearly 4x over the next decade.
This year (2019), the America region is projected to hold a 34.5% share of worldwide quantity of packaged LEDs in selected test/measurement and medical/science devices. The Europe, Middle East and Africa (EMEA) region is forecast for aggressive growth. “This year, the Asia Pacific region (APAC) is forecast to hold a slight lead in relative volume market share,” Montgomery added.