Press release
Hospital Lighting Market key Trends, Drivers, Challenges And Analysis 2024-2033
Hospital Lighting Market
The Business Research Company presents an extensive market research report on the Hospital Lighting Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The hospital lighting market size has grown strongly in recent years. It will grow from $7.91 billion in 2023 to $8.44 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to energy efficiency, regulatory standards, patient-centric lighting, reduction of hospital-acquired infections, surgical precision.
The hospital lighting market size is expected to see strong growth in the next few years. It will grow to $11.2 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to research and development , sustainability goals, smart hospital integration, focus on cost-effectiveness, infrastructure modernization. Major trends in the forecast period include biophilic design concepts, data-driven lighting designs, wellness-oriented design, remote monitoring and management, adaptive lighting controls.
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Key Market Players:
Major companies operating in the hospital lighting market report 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, Drägerwerk AG & Co KGaA, Signify Holding BV, Osram Licht AG, Orion Energy Systems Inc., Thorn Lighting Ltd., Waldmann GmbH & Co. KG, Skytron LLC, Epic System Corporation, Halma plc, Healthstream Inc., Infosys Limited, JVS Technologies Pvt Ltd., McKesson Corporation, Alcidion Corp., Cerner Corporation, Medworxx Solutions Inc., Change Healthcare, Healthcare Lighting Solutions, Allscripts Healthcare Solutions Inc., L.D. Kichler Co. Inc.
Market Drivers:
An increase in number of hospitals worldwide are expected to propel the hospital lighting market. 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. Therefore, the increase in the number of primary healthcare centers and hospitals will drive the demand for the hospital lighting market.
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https://www.thebusinessresearchcompany.com/report/hospital-lighting-global-market-report
The hospital lighting market covered in this report is segmented -
1) By Product: Troffers, Surface-mounted Lights, Surgical Lamps, Other Products
2) By Technology: Fluorescent, LED, Renewable Energy, Other Technologies
3) By Application: Patient Wards and ICUs, Examination Rooms, Surgical Suites, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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