PUBLISHER: The Business Research Company | PRODUCT CODE: 1425546
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425546
Hospital Lighting Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on hospital lighting market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for hospital lighting? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The hospital lighting market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Hospital lighting encompasses the lighting solutions employed in hospitals to achieve both practical and aesthetic effects, playing a crucial role in supporting health treatments, patient rehabilitation, doctor-patient interactions, hospital operations, and cost control.
The primary product categories of hospital lighting include troffers, surface-mounted lights, surgical lamps, and other related products. Troffers, for instance, are rectangular lights installed on ceilings, providing an aesthetically pleasing appearance with low power consumption. These are commonly used in diagnostic imaging chambers to minimize microbial contamination. Various lighting technologies, such as fluorescent, LED, renewable energy, and others, are utilized in hospital lighting solutions. These lighting products are suitable for applications in patient wards, ICUs, examination rooms, surgical suites, and other areas within healthcare facilities.
The hospital lighting market research report is one of a series of new reports from The Business Research Company that provides hospital lighting market statistics, including hospital lighting industry global market size, regional shares, competitors with a hospital lighting market share, detailed hospital lighting market segments, market trends and opportunities, and any further data you may need to thrive in the hospital lighting industry. This hospital lighting market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 observed in the historical period can be attributed to factors such as a focus on energy efficiency, compliance with regulatory standards, the implementation of patient-centric lighting, efforts to reduce hospital-acquired infections, and the pursuit of surgical precision in the lighting industry.
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 anticipated growth in the forecast period can be attributed to increased investments in research and development, a commitment to sustainability goals, the integration of smart hospital technologies, a focused approach to cost-effectiveness, and ongoing efforts in infrastructure modernization. Key trends expected in this period include the incorporation of biophilic design concepts, the application of data-driven lighting designs, a shift toward wellness-oriented design principles, the implementation of remote monitoring and management systems, and the adoption of adaptive lighting controls.
The hospital lighting market is on the rise globally, propelled by the increasing number of hospitals worldwide. The development of healthcare systems is marked by the construction of new hospitals, driven by external pressures, healthcare system shortcomings, and deficiencies in the hospital sector. This surge in hospital construction significantly influences the demand for hospital lighting, which serves both practical and aesthetic purposes inside and around healthcare facilities. For example, data from the Department of Health & Family Welfare's 2021-22 annual report highlights the approval of new urban health centers and community health centers, emphasizing the substantial growth in healthcare infrastructure. Consequently, the hospital lighting market is poised to benefit from the expansion of primary healthcare centers and hospitals.
The hospital lighting market is expected to experience growth due to the increasing number of surgeries, driving demand for well-designed lighting solutions in surgical settings. Surgery, a critical medical procedure, demands optimal visibility for surgeons and medical staff. Adequate lighting enhances precision, reduces the risk of errors, and improves overall surgical outcomes. A report from the National Library of Medicine indicates a significant rise in the number of cosmetic surgeries and total operations in 2021 compared to the previous year. As surgical procedures become more commonplace, the demand for advanced hospital lighting solutions is set to grow, contributing to the overall expansion of the hospital lighting market.
A key trend in the hospital lighting market is the advancement in lighting technology, with major players focusing on innovative solutions to prevent the spread of infections and gain a competitive edge. Mediland, a Taiwan-based company, exemplifies this trend with the launch of cutting-edge offerings, including a UVC disinfection robot and an electro-hydraulic operating table. These innovations reflect a commitment to delivering advanced tools for healthcare, emphasizing infection control and empowering surgeons with enhanced operational experiences. The integration of sophisticated lighting technology is becoming a hallmark of healthcare innovation, influencing the trajectory of the hospital lighting market.
Major companies operating in the hospital lighting market are strategically focusing on product developments to maintain their market position. Product development, encompassing the creation, design, and introduction of new products or services, plays a crucial role in sustaining competitiveness. MezLight LLC, a US-based company, showcases this commitment through the introduction of an innovative surgical lighting system. The MezLight aims to address challenges faced by surgeons during procedures, offering a bright, sterile, and reusable solution that improves the overall surgical experience. This emphasis on continuous product development underscores the dynamic nature of the hospital lighting market and its pivotal role in enhancing healthcare practices.
In July 2022, Lumenpulse Group Inc., a leading Canadian company specializing in the design, development, manufacturing, and sale of diverse lighting solutions, successfully acquired Pa-Co Lighting for an undisclosed sum. This strategic move allows Lumenpulse Group Inc. to further expand its presence and venture into new segments within the lighting industry. Pa-Co Lighting, the acquired company, is a Canadian-based manufacturer and designer of specification-grade lighting applications, serving various sectors such as hospitals, behavioral facilities, specialized medical clinics, schools, and nursing homes.
Major companies operating in the hospital lighting market report are Acuity Brands Inc., KLS Martin Group, Eaton Corporation PLC., Hubbell Incorporated, Koninklijke Philips NV, Trilux GmbH & Co KG, Zumtobel Group, General Electric Company, Kenall Manufacturing Company, Brandon Medical Company, Dragerwerk AG & Co KGaA, Signify Holding BV, Osram Licht AG, Orion Energy Systems Inc., Thorn Lighting Ltd., Waldmann GmbH & Co. KG, Skytron LLC, Epic System Corporation, Halma PLC, Healthstream Inc., Infosys Limited, JVS Technologies Pvt Ltd., McKesson Corporation, Alcidion Corp., Cerner Corporation, Medworxx Solutions Inc., Change Healthcare, Healthcare Lighting Solutions, Allscripts Healthcare Solutions Inc., L.D. Kichler Co. Inc.
North America was the largest region in the hospital lighting market in 2023. Europe was the second-largest region in the hospital lighting market. The regions covered in the hospital lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the hospital lighting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The hospital lighting market consists of sales of compact fluorescent lighting, halogen lamps, infrared lamps, and medical lamps. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.