The Asia Pacific region is forecast to increase in value by a multiple of seven-times (7x) during the 2011 to 2018 timeframe…

ElectroniCast Consultants, a leading market/technology consultancy, today announced the release of a new market research study of the global consumption of packaged light emitting diodes (LEDs) used in Medical and Biophotonic Devices. 

The global consumption value of LEDs in selected medical and biophotonic devices in 2011 was $56.5 million.  The consumption value is forecast to increase at an average annual growth rate of 27.6 percent to $310.5 million in 2018, with strong quantity growth partially offset, by a decline of average prices.  

This market analysis covers devices, which transfers energy via light (such as therapy or surgery), as well as applications, which excite matter via light and transfer information back to the operator, such as diagnostics.

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
•    Operating Theater (OT)/Surgical/Dentistry Lighting

According to the ElectroniCast report, Sensing/Detection and Analytical/Monitoring applications represent over 50% of the worldwide consumption value of packaged LEDs in the selected and medical and biophotonic devices in 2012.  By 2018, the relative market share (%) of LEDs used in the same application category is forecast to decrease substantially as other end-user applications increase at a faster pace. 

The American region currently commands over 40 percent share of worldwide consumption of LEDs in medical/biophotonics (devices/equipment); however the region’s market share is set to decrease during the forecast period as the other regions increase at a faster pace.  The Europe, Middle East and Africa (EMEA) region is forecast to increase at 27 percent per year.  The Asia Pacific region (APAC) is forecast to increase in value by a multiple of seven-times (7x) during the 2011 to 2018 timeframe, with an annual increase of 32 percent. 

According to ElectroniCast, Consumption value is forecast to increase from $56.5 million in 2011 to $310.5 million in 2018…
   
 

    LEDs in Medical and Biophotonic Devices
    Global Consumption Market Forecast (US/$, Million)

Note: Market forecast data refers to consumption (use) for a particular calendar year; therefore, this data is not cumulative data.  Source: ElectroniCast