The global hospital lighting market is expected to be valued at USD 9.1 billion by 2024, growing at a CAGR of 10.7% during the forecast period. It has been observed that the operating rooms and surgical rooms require a sufficient amount of lighting that is not expected to be bright or too dim. The lighting in the hospitals is positioned in the manner it enables the doctors to have required focus on the task performed and eradicating errors. Hospital lighting also enables proper lighting in operation theatres that helps the doctors in effectively managing time to complete a particular task and also ensures efficient cost savings.
Moreover, the hospital lighting market is expected to witness high growth due to rapidly increasing and progressing facilities in the hospital. Some of the lighting products that are excessively being used in the hospital include surgical lamps, troffers, wraparounds, and surface-mounted lights. In all these products incandescent, emitting diode and fluorescent are the various technologies that are rapidly being used, thereby strengthening the growth of global hospital lighting market.
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There are various types of hospital lighting such as fluorescent type lighting, halogen bulbs and HDI lighting that are used in operation theatres in order to uplift the focus in the room. Moreover, it has been observed that these lightings can be moved away from the area when it is not desired and can be located in a position that does not causes wandering of light and enables staying at the light focused area. It has been witnessed that lighting in the operation theatres are usually true white light since any other lighting color such as blue or yellow obstructs the proper detection of tissues and will not provide a clear vision to the doctor. These features of hospital lighting are thereby exaggerating the growth of global hospital lighting market at a rapid pace.
Another factor pertaining to the growth of the hospital lighting market include the development of a large number of hospitals in emerging economies along with extensive adoption for LED based fixtures of lighting. Moreover, there are several infrastructural developments observed in healthcare and hospitality domain that is bolstering the growth of hospital lighting market at a rapid pace. The utilization and adoption of lighting systems that are of varied nature such as advanced lighting system are gaining huge popularity in the healthcare sector thereby exaggerating the demand for hospital lighting market at an extensive rate.
On the basis of product, the market is segmented into surface-mounted lights, wraparound lights, troffers, surgical lights and others. Among all these segments the troffers segment is expected to grow at a CAGR of 6.3% during the projected period due to the increasing popularity of LED based troffers in hospitality domain across the globe and a huge number of hospitals developed in Asia-Pacific. This segment is thus escalating the demand for hospital lighting market across the globe.
The hospital lighting market on the basis of the technology is segmented into fluorescent technology, LED technology and others. Among all these segments the fluorescent segment is projected to grow at the highest CAGR owing to low operational as well as implementation cost. According to a recent report, it has been estimated that the operational cost associated with fluorescent bulb for nearly 22 years is approximately $48 and average cost involved with this segment is also low. As a result of the low cost of the fluorescent bulb, the hospital lighting market is growing at an exponential rate.
On the basis of application, the hospital lighting market is segmented into surgical suites, examination rooms, patient ward & ICUS, diagnostics & imaging center and others. Among all these applications, the patient ward & ICUs segment is expected to grow at a CAGR of 5.5% during the forecast period. The growth of this segment is attributed towards technological upgradation and escalating demand for LED centered fixtures in the hospitals.
Geographically, Asia-Pacific is expected to witness the fastest growth 8.6% CAGR in the hospital lighting market due to extensive diffusion of innovative lighting solutions for implementation in the healthcare domain. There are several hospitals in Asia-Pacific that are seeking for the solutions of lighting that helps in reduction of energy to conserve it and thus reducing the operating costs of the medical amenities. Europe is another key market for these solutions, as there are several major players operating in the hospital lighting industry in this region.
Globally industry players in the hospital lighting market are leveraging market growth through technological advancements and innovations and providing product differentiation to the users. Some of the major companies operating in the global hospital lighting market include Acuity Brands Lighting Inc., Eaton Corporation PLC, Cree Inc., General Electric Company, Koninklijke Philips N.V., Herbert Waldmann GmbH & Co. Kg, KLS Martin Group, Trilux Lighting Ltd., Hubbell Incorporation and Zumtobel Group AG.
Global Hospital Lighting Market Coverage
Product Insight and Forecast 2014 - 2024
Technology Insight and Forecast 2014 - 2024
Application Insight and Forecast 2014 - 2024
Hospital Lighting Market by Region
Rest of the World (RoW)