Government Investments in Healthcare to Strengthen Global Medical Lighting Technologies Market Growth

According to the estimations put forth by Inkwood Research, the Global Medical Lighting Technologies Market is anticipated to register a CAGR of 6.31% in terms of revenue during the forecasting period of 2021-2028.

"Browse 85 Market Data Tables and 59 Figures spread over 257 Pages, along with an in-depth TOC on the Global Medical Lighting Technologies Market Forecast 2021-2028."

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Medical lighting technologies are among the most critical factors, playing an essential role in surgeries as well as medical examinations.

Surgeons require more than simple lighting while performing surgeries and various medical procedures. In this regard, medical lighting technologies provide excellent infrastructure, enabling imaging and control for examination rooms and operation theatres. Hospital lighting fixtures and equipment also improve patient experience and the ability of the staff to deliver a high care level.

Government Investments in Healthcare to Fuel Market Growth
The rising incidence of lifestyle diseases, technological advancements, the increased need for affordable healthcare delivery systems on account of increasing healthcare costs, and rapid health insurance penetration play a vital role in supplementing the healthcare sector. Moreover, the emergence of telemedicine and government initiatives such as e-health, in addition to tax benefits and incentives, primarily facilitate healthcare markets. The industry continues to grow at a considerable pace due to its strengthening coverage, services, and elevated expenditure by private as well as public players, thereby facilitating the market growth.

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ICU is the Fastest-Growing Application
An intensive care unit (ICU), also termed a critical care unit (CCU), intensive treatment unit (ITU), and intensive therapy unit, is a special department of a health care facility or hospital offering intensive care medicine. LED lightings are used in ICU for comforting patients. For instance, Charité Clinic in Berlin utilizes LED lighting designed to simulate daylight. Besides, it is also incorporated into ceiling panels that mimic the sky. Conversely, Brandon Medical Co Ltd offers medical lighting products. The company's Coolview CLED23, offers the highest lighting performance and color-corrected light, thus minimizing eye strain.

North America Held the Highest Market Share in 2020
The Asia-Pacific healthcare system is well-recognized globally for its innovation, quality, and affordability. A rapidly aging population coupled with the increasing burden of patients with chronic conditions across the region necessitates efficient health systems with integrated care. The governments of Asian countries aim to advance their healthcare expenditure in order to upgrade and expand their healthcare facilities. As a result, they ensure providing quality healthcare to individuals.

Enterprises with undifferentiated products as well as comprehensive product portfolios generate intense rivalry across the global market. With firms expending millions of dollars augmenting their facilities, substantial investments in research and development further amplify the competition.

Therefore, the industrial rivalry is expected to be high during the forecasting years.

Key companies operating in the market are Stryker Corporation, Steris PLC, Draegerwerk Ag & Co KGaA, Getinge AB, etc.

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Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy, with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa.

This release was published on openPR.