Hospital Lights Market Growth Drivers, Opportunities, Share Report And Forecast To 2033

The hospital lights market size has grown strongly in recent years. It will grow from $8.89 billion in 2023 to $9.71 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to focus on patient comfort, energy efficiency requirements, surgical precision, regulatory compliance, patient-centric lighting, increased healthcare spending, architectural and aesthetic considerations.

The hospital lights market size is expected to see strong growth in the next few years. It will grow to $13.97 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to rise in healthcare facilities, enhanced control systems, sustainable lighting practices, lighting design for behavioral health spaces, customization for different hospital spaces, compliance with lighting standards. Major trends in the forecast period include led technology dominance, color temperature adjustability, integration of smart lighting systems, increased adoption of indirect lighting, wireless controls and iot integration.

Market Overview -
Hospital lights are lights made from durable material to be used in medical facilities for the safety of the people who are working in the building.

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Growing Number Of Hospitals Fuels Growth In The Hospital Lights Market
The growing number of hospitals is expected to propel the growth of the hospital lights market. Hospitals are institutions that are designed, staffed, and outfitted for illness diagnosis, medical and surgical treatment of the ill and injured, and housing while undergoing these procedures. Hospital lights provide enough light for the medical staff, are used as a signalling device during any event and prevent any disturbance to the patients during sleep. For instance, in 2022, according to a survey conducted by American Hospital Association, a US-based healthcare industry trade group, the total number of all U.S. Hospitals is 6,093 and the number of U.S. community hospitals is 5,139. Therefore, the growing number of hospitals is driving the growth of the hospital lights market.

Competitive Landscape -
Major companies operating in the hospital lights market report are Koninklijke Philips N.V., The Zumtobel Group, Wolfspeed Inc., Signify N.V., Acuity Brands Inc., Steris plc, Skytron LLC, Integra LifeSciences Corporation, S.I.M.E.O.N. Medical GmbH & Co. KG, Getinge AB, General Electric Company, Hubbell Incorporated, KLS Martin Group, Brandon Medical Co. Ltd., Best Lighting Products Inc., Herman Miller, TLV Co. Ltd., ETS-Lindgren Ltd., Kenall Manufacturing, Planmeca OY, Shenzhen Comen Medical Instruments Co. Ltd., Medifa, Hill-Rom Holdings Inc., Eaton Corporation, Osram Licht AG, Cooper Lighting Solutions, Dialight plc, LEDVANCE GmbH, McKesson Corporation, Stryker Corporation

Innovative Product Solutions Driving Growth In The Hospital Lights Market
Product innovation is a key trend in the hospital lights market. Major players in the hospital lighting industry are concentrating on creating innovative product solutions to improve their market share. For instance, in October 2021, Signify, a Netherlands-based company operating in hospital light, launched the Philips UV-C disinfection box with a UV-C light source for small objects. This product uses UV-C technology which has been proven by scientific studies to disinfect and can inactivate SARS-CoV-2 (the virus that will cause COVID-19 disease) on surfaces by more than 99% to below detectable levels, providing an easy and effective way to disinfect items like keys, cell phones, toys, and other household items.

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Key Segments -
The hospital lights 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, Surgical Suites, Examination Rooms, Other Applications

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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