The Hospital Lighting Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Hospital Lighting Global Market Report 2024, The hospital lighting market size has grown strongly in recent years. It will grow from $7.91 billion in 2023 to $8.44 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to energy efficiency, regulatory standards, patient-centric lighting, reduction of hospital-acquired infections, surgical precision..
The hospital lighting market size is expected to see strong growth in the next few years. It will grow to $11.2 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to research and development , sustainability goals, smart hospital integration, focus on cost-effectiveness, infrastructure modernization.. Major trends in the forecast period include biophilic design concepts, data-driven lighting designs, wellness-oriented design, remote monitoring and management, adaptive lighting controls..
An increase in number of hospitals worldwide are expected to propel the hospital lighting market. Hospitals are an essential component of the development of a healthcare system. External pressures, healthcare system flaws, and hospital-sector deficiencies are currently driving the construction of hospitals in many parts of the world. This increasing construction of hospitals worldwide impacts the demand for and use of hospital lighting to achieve a practical or aesthetic effect inside and around the hospital. For instance, according to a 2021–22 annual report published by the Department of Health & Family Welfare, the April–June 2021 quarterly progress data shows that over 5,500 urban facilities have been strengthened, and the construction of approximately 890 new UPHCs (public health care) and 90 new UCHCs (urban community health centers) has been approved. Therefore, the increase in the number of primary healthcare centers and hospitals will drive the demand for the hospital lighting market.
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The hospital lighting market covered in this report is segmented –
1) By Product: Troffers, Surface-mounted Lights, Surgical Lamps, Other Products
2) By Technology: Fluorescent, LED, Renewable Energy, Other Technologies
3) By Application: Patient Wards and ICUs, Examination Rooms, Surgical Suites, Other Applications
Advancement in lighting technology is a key trend gaining popularity in the hospital lighting market. Major market players are focused on creating innovative lighting solutions that prevent the spreading of infection to gain a competitive edge in the market. For instance, In March 2021, Mediland, a Taiwan-based specialized company that focuses on providing a range of medical equipment and services, expanded its product portfolio with the technological launch of two cutting-edge offerings. Following the success of the Hyper Light, a UVC disinfection robot combating the spread of COVID-19, Mediland introduced the novel C800 electro-hydraulic operating table and the SunLED Series surgical light under the theme Feel in Control. Both products boast high-end features designed to empower surgeons, providing them with an enhanced operational experience. The C800 operating table and SunLED Series surgical light reflect Mediland’s commitment to delivering advanced tools for curative, preventive, and palliative care, further solidifying its position as a player in healthcare innovation.
The hospital lighting market report table of contents includes:
1. Executive Summary
2. Hospital Lighting Market Characteristics
3. Hospital Lighting Market Trends And Strategies
4. Hospital Lighting Market – Macro Economic Scenario
5. Global Hospital Lighting Market Size and Growth
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31. Global Hospital Lighting Market Competitive Benchmarking
32. Global Hospital Lighting Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Hospital Lighting Market
34. Hospital Lighting Market Future Outlook and Potential Analysis
35. Appendix
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