The latest market report published by Credence Research, Inc. “Xenon Light Source Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the xenon light source market was valued at US$ 469.8 Mn in 2017 and expected to reach US$ 526.5 Mn by 2026, expanding at a CAGR of 1.2% from 2018 to 2026.
Xenon light source is described by its high power and true color projection, thus making it ideal for endoscopy procedures. Xenon lights are commonly used as a source of illumination in wide-field fluorescence microscopy, in-vitro diagnostics, drug discovery, etc. The global xenon light source market is expected to grow at a slow rate due to the growing replacement by the advanced LED light source.
Conversely, due to technological developments and wit the purpose of market sustenance, the manufacturers have developed compact xenon flashlights that have lower heat complications and better stability. Use of xenon light source in color analyzers, strobophobes, photomask lights etc. will further assist in retaining the stability of this market during the forecast period 2018 to 2026. At present, short arc xenon light source segment occupies the larger market share and will maintain its dominance through the forecast period. However, long arc xenon lights segment will experience faster growth rate during the forecast period due to its wider application base covering both endoscopy and microscopy. Additionally, based on application areas, endoscopy procedures and surgeries occupy a dominant position in the global xenon light source market. Extensive use in diagnostic and interventional procedures contributes to the dominance of this segment. However, rapid replacement by LED light sources has led to the sluggish growth of this market.
Geographically, North America is the largest regional market for xenon light source. Existence of developed healthcare infrastructure, and incessant research and development activities performed in the region contributes to its prominent position. Yet, sluggish growth is identified in North America due to rising demand for LED light source which is expected to replace Xenon light source. Asia Pacific is identified as the fastest growing region due to key factors such as increasing prevalence of multiple diseases assisting the growth of endoscopes and other diagnostic & treatment devices, rising awareness related to disease diagnosis & treatment, and developing healthcare infrastructure & technology.
Key Market Movements:
- High deployment in endoscopy procedures and surgeries demanding natural light
- Stable usage in microscopy and other biotechnology applications
- Significant threat of replacement by cost-effective and more precise LED light sources
Browse the full report Xenon Light Source Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026 report at http://www.credenceresearch.com/report/xenon-light-source-market