Hospital Lights Market is expected to reach US$ 9,765.09 Million by 2028

According to our latest market study on "Hospital Lights Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product Type, Technology, and Application," the market is expected to grow from US$ 5,432.01 million in 2021 to US$ 9,765.09 million by 2028; it is estimated to grow at a CAGR of 8.7% from 2021 to 2028.

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Hospitals and clinics have high energy demands due to 24×7 operations, medical imaging equipment, and special clean air and sanitary requirements. Energy efficiency has become a major policy instrument worldwide, assisting in meeting the significant increase in energy demand. All the government and nongovernment agencies are working together for ensuring sustainable energy usage. For example, the UK government published guidance in November 2020 on proposed regulations to implement new eco-design and energy labeling requirements for light sources and separate control gears. These requirements include measures to raise minimum energy efficiency requirements for lighting products, which will lead to the phasing out of several less efficient lamp types. As per the Ministry of Power of the Government of India, there is a huge potential for energy savings in hospitals and healthcare institutions. For example, the Energy Conservation Building Code (ECBC) of India shows that hospitals in India have the potential to achieve 42% energy savings by implementing energy-efficient measures. Such initiatives for promoting energy-efficient products are fueling the demand for LED lighting products, thereby driving the hospital lights market growth.

Moreover, energy saving, emission reduction, and green development have become common concerns of different countries due to the global energy shortage. According to statistics, lighting application accounts for ~20% of the total power consumption of the world. Lighting in China accounts for ~14% of total power consumption. Therefore, lighting has always been the key area of energy conversion in the world. Thus, the adoption of LED lights, which are successfully transforming the definition and scope of lighting technology, is growing rapidly. Also, the stringent rules proposed by governments and regulatory bodies in the US, Canada, and the European Union on using less efficient lighting have paved the growth path for the LED lighting business. A surge in the adoption of LED lights will contribute to the transformation of old hospital buildings into new energy-efficient hospital premises, thereby driving the hospital lights market growth.

Leading Hospital Lights market Players: Signify Holding (Philips); ACUITY BRANDS, INC.; Cree Lighting; Dragerwerk AG & Co. KGaA; KLS Martin Group; Stryker Corporation; GE Current; Hubbell Incorporated; Trilux GMBH & Co. KG; Effe; Tulip; Planet Lighting; and Eagle Lighting Australia Private Ltd

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Hospitals and clinics have high energy demands due to 24×7 operations, medical imaging equipment, and special clean air and sanitary requirements. Energy efficiency has become a major policy instrument worldwide, assisting in meeting the significant increase in energy demand. Proper illumination of the surgical area is essential inside the operation theater to avoid any kind of injury to the patient. High-performance LEDs play an important role in surgical lighting and light-based medical treatment. LED-based surgical lights have emerged as the preferred technology for overhead illumination in hospital operating rooms (ORs) and dental clinics. These high-performance LED lights are generally manufactured considering the standard specifications related to brightness, homogeneity, color rendering index (CRI), shadow dilution, and correlated color temperature (CCT).

Moreover, high-performance LEDs deliver superior lighting, longer life, and lower power usage compared to typical surgical lighting systems that use halogen or gas-discharge bulbs. Thus, the increased demand for operating rooms in hospitals has resulted in a rise in the number of sophisticated healthcare facilities. This, in turn, will fuel the demand for high-performance LED lighting in surgery applications, thereby fueling the hospital lights market growth. Moreover, a surge in energy demands necessitates utilizing alternative energy sources. As a result, renewable energy sources, especially solar energy, are now being used to generate electricity. The increasing uptake of solar energy for electricity generation is expected to drive the demand for solar-based lighting technologies in the coming years.

The report segments the market as follows:
Global Hospital Lights Market - By Product Type
Troffer
Surface-Mounted Lights
Surgical Lamps
Others

Global Hospital Lights Market - By Technology
Fluorescent Technology
LED Technology
Others

Global Hospital Lights Market - By Application
Patient Wards and ICUs
Surgical Suites
Examination Rooms
Others

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The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

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