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.
Market Insights
The Xenon light source is described by its high power and true color projection, making it ideal for endoscopy procedures. Xenon lights are commonly used as a source of illumination in large-field fluorescence microscopy, in vitro diagnostics, drug discovery, etc. The global market for xenon light sources is expected to grow at a slow rate due to the growing replacement of the advanced LED light source.
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Conversely, due to technological developments and the purpose of market sustenance, manufacturers have developed compact xenon flashlights with lower thermal complications and improved stability. The use of xenon light in color analysers, strobophobes, photomask lights, etc. will further help to maintain the stability of this market during the 2018-2026 forecast period. The short arc xenon light source segment currently holds a larger market share and will remain dominant over the forecast period. However, the long arc xenon light segment will experience faster growth during the forecast period due to its wider application base covering both endoscopy and microscopy. In addition, endoscopy procedures and surgeries, based on application areas, occupy a dominant position in the global xenon light source market. Extensive use in diagnostic and intervention procedures contributes to the dominance of this segment. However, the rapid replacement of LED light sources has led to the slow growth of this market.
Geographically, North America is the largest regional market for xenon light sources. The existence of developed healthcare infrastructure and the continuous research and development activities carried out in the region contribute to its prominent position. However, slow growth in North America is identified as a result of the rising demand for LED light sources, which are expected to replace the Xenon light source. The Asia Pacific is identified as the fastest-growing region due to key factors such as the increasing prevalence of multiple diseases that contribute to the growth of endoscopes and other diagnostic and treatment devices, increasing awareness of disease diagnosis and treatment, and developing healthcare infrastructure and technology.
Key Market Movements:
- High deployment in endoscopy procedures and surgeries demanding natural light
- Stable usage in microscopy and other biotechnology applications
- The significant threat of replacement by cost-effective and more precise LED light sources
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[Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]
Report Scope by Segments
By Type
- Long Arc Xenon Light Source
- Short Arc Xenon Light Source
By Application Type
- Endoscopy Procedures and Surgeries
- Lifescience Applications
By Geography Segment
- North America (the U.S., Rest of North America)
- Europe (U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, Japan, India, Rest of Asia Pacific)
- Rest of World (Middle East & Africa (MEA), Latin America)
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