Market research firm ElectroniCast recently gave market research and forecasts on LEDs for biophotonics and medical devices . The report said that the total consumption value of global biophotonics and medical equipment LEDs in 2013 was 77.3 million US dollars, an increase of 19.8% over 2012.
In its report, ElectroniCast classifies biophotonics and medical devices into three categories: (1) sensing/detection and analysis/monitoring; (2) phototherapy/health/cell regeneration/treatment; and (3) light source and imaging. Among them, the total consumption value of LEDs used in the first category accounted for 62% of the total consumption value of LEDs for medical and biophotonic devices worldwide. According to ElectronCast's forecast, by 2020, the market share of LEDs used in the first category will decline, but its total consumption value will increase by at least three times. Specific applications for the second category include water treatment, medical, health and beauty, photodynamic therapy, and other treatments. This category has a 30% increase from the past $25.78 million. The third category increased from $3.18 million in 2012 to $4.09 million.
In 2013, the Americas region accounted for more than 40% of the global market share, but ElectronCast predicted that it will grow faster in Europe, the Middle East and Africa, and the Asia Pacific region in the future.
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