LEDs in Test/Measurement, Medical/Science Market Forecast

ElectroniCast is forecasting a slowdown in consumption for 2020, caused by the negative effects of the coronavirus (COVID-19)

April 8, 2020 – www.electronicast.com - ElectroniCast, 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 scientific devices.   however, because of the impact on production, sales, shipment and implementation caused by the negative effects of the coronavirus (COVID-19), ElectroniCast forecasts a slowdown or negative movement in consumption in 2020

Last year (2018), the global consumption value of packaged LED chips in the selected devices reached $527 million, up from $476 million versus the previous year (an increase of 11.1 percent);

After the slowdown in 2020, the value is forecasted to increase in all product categories, with strong to moderate quantity growth, partially offset by a decline of average prices.   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, and other miscellaneous colors, used specifically for test/measurement, medical and other science applications is forecast to reach over $386.5 million in 2029, up from $149.8 in 2019.  “Many devices, which have traditionally used mercury (Hg)-vapor Ultraviolet (UV) lamps are now utilizing LEDs, capable of producing UV radiation,” said Stephen Montgomery, principal analyst at ElectroniCast.

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 2019, represented 34.3 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 39.4 percent in value in 2029.

Also, covered in the study is 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 multiple factors of nearly 2x over the next decade.

This market forecast report, which is available immediately, is part of a consultant service from ElectroniCast Consultants to our clients. For detailed information on this or other services provided by ElectroniCast, please contact the ElectroniCast website.

ElectroniCast – www.electronicast.com specializes in forecasting trends in technology, markets and applications forecasting, strategic planning and consulting. ElectroniCast Consultants, as a technology-based independent forecasting firm, serves industrial companies, trade associations, government agencies, communication and data network companies and the financial community.  Reduction of the risk of major investment decisions is the main benefit provided.  ElectroniCast Consultants’ goal is to understand the challenges and opportunities facing clients and to provide timely, accurate information for strategic planning.

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