The latest market report published by Credence Research, Inc. “Xenon Light Source Market By Type (Long Arc Xenon Light Source, Short Arc Xenon Light Source), By Application (Endoscopic Procedures And Surgeries, Life Science Applications) – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the xenon light source market was valued at US$ 469.8 million in 2017 and is anticipated to achieve US$ 526.5 million by 2026, increasing to CAGR by 1.2 percent from 2018 to 2026.
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The Xenon light source is described by its high power and true color projection, making it ideal for endoscopy procedures. Xenon lights are widely 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.
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 brief arc xenon light source segment currently holds a bigger market share and will remain dominant over the forecast period. However, the lengthy arc xenon light section will experience quicker development during the forecast period owing to its wider application base covering both endoscopy and microscopy. In addition, endoscopy processes and surgeries, depending on application fields, occupy a dominant role in the worldwide xenon light source industry. Extensive use in diagnostic and intervention processes adds to the dominance of this segment. However, the fast replacement of LED light sources has led to the slow development of this industry.
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.
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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
By Type (2016–2026; US$ Mn)
- Long Arc Xenon Light Source
- Short Arc Xenon Light Source
By Application (2016–2026; US$ Mn)
- Endoscopy Procedures and Surgeries
- Lifescience Applications
By Geography Segment (2016–2026; US$ Mn)
- North America
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Latin America