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Hospital Lighting System Market Demand and Growth Drivers by 2023; Key Players - Cree, Zumtobel Group, OSRAM, Acuity Brands, GE, Signify, Hubbell Incorporated, Waldmann Lighting and Orion Lighting
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The various types of products available in the market are surface mounted, recessed, wall mounted, hanging, and other lighting systems including emergency lights, exit lights and step lights. Out of these, the recessed lights market is expected to fuel high growth of over 7%, during the forecast period.
During the forecast period, the hospital lighting system market is projected to witness the fastest growth in APAC, at a CAGR of 7.7%. Rising urban population in India, and rising public and private investments in hospital lighting system particularly in China, would drive the demand for healthcare institutions across APAC countries. The governments in several APAC countries have started several initiatives for energy efficient lighting, which would boost the demand for hospital lighting systems in various healthcare institutions in the region.
Globally, hospital infrastructure is under upgradation both in terms of technology adoption and expansion. This is due to the increasing patient base, growing geriatric population, and increasing prevalence of chronic diseases. Additionally, rising number of hospitals and other healthcare settings are also driving the demand for hospital lighting systems, globally.
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Some of the key players operating in the hospital lighting system market are Cree Inc., Zumtobel Group AG, OSRAM Licht AG, Acuity Brands Inc., General Electric Company, Signify N.V., Hubbell Incorporated, Herbert Waldmann GmbH & Co. KG, TRILUX GmbH & Co. KG and Orion Energy Systems Inc.
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