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Hospital Lighting Market Outlook 2023 Size, Share, Business Trends, Future Development, Growth Analysis And Forecast 2032 || Acuity Brands Inc., KLS Martin Group, Eaton Corporation PLC, Hubbell Incorporated, Koninklijke Philips NV
Hospital Lighting Market
The Business Research Company's Hospital Lighting Global Market Report 2023 identifies the increase in number of hospitals worldwide as the major driver for the hospital lighting market's growth in the forecast period. Hospitals are an essential component of the development of a healthcare system. External pressures, healthcare system flaws, and hospital-sector deficiencies are currently driving the construction of hospitals in many parts of the world. This increasing construction of hospitals worldwide impacts the demand for and use of hospital lighting to achieve a practical or aesthetic effect inside and around the hospital. For instance, according to a 2021-22 annual report published by the Department of Health & Family Welfare, the April-June 2021 quarterly progress data shows that over 5,500 urban facilities have been strengthened, and the construction of approximately 890 new UPHCs (public health care) and 90 new UCHCs (urban community health centers) has been approved.
The global hospital lighting market size is expected to grow from $7.43 billion in 2022 to $7.91 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The hospital lighting market is expected to grow to $10.11 billion in 2027 at a CAGR of 6.3%.
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Major competitors in the hospital lighting market 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.
A key trend in the Hospital Lighting market includes advancement in lighting technology. Major market players are focused on creating innovative lighting solutions that prevent the spreading of infection to gain a competitive edge in the market. For instance, in March 2020, Haichang Optotech, a Hong Kong-based LED light manufacturing company, launched UVC LED panel lights for hospital sterilization, disinfection, and cleaning. It is built to meet the highest technical standards for hospitals and clean rooms. It employs a UV3535 LED (UVA+UVC) with 2-in-1 sterilization and general illumination functions. Furthermore, the dual modes of sterilization and lighting can be freely switched with the help of intelligent switch control.
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The hospital lighting market is segmented -
• By Product: Troffers, Surface-mounted Lights, Surgical Lamps, Other Products
• By Technology: Fluorescent, LED, Renewable Energy, Other Technologies
• By Application: Patient Wards and ICUs, Examination Rooms, Surgical Suites, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the hospital lighting market.
The Business Research Company's "Global Hospital Lighting Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Hospital Lighting Market Include:
1. Executive Summary
2. Hospital Lighting Market Characteristics
3. Hospital Lighting Market Trends And Strategies
4. Hospital Lighting Market - Macro Economic Scenario
5. Hospital Lighting Market Size And Growth
……………
27. Hospital Lighting Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Hospital Lighting Market
29. Hospital Lighting Market Future Outlook And Potential Analysis
30. Appendix
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