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Surgical Lights Market Report 2024-2033 - Size, Growth, Key Trends & Competitive Landscape
Surgical Lights Market Report
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According to The Business Research Company's, The surgical lights market size has grown strongly in recent years. It will grow from $2.98 billion in 2023 to $3.15 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to government investment, significant increase in surgical procedures, growing demand for advanced healthcare facilities, upsurge in surgical procedures to stoke demand, and expansion of the healthcare sector globally.
The surgical lights market size is expected to see strong growth in the next few years. It will grow to $3.97 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to rising number of hospitals, rising in the demand for surgical lights, increasing medical tourism, increasing number of technical advancements in surgical lights, and rising preference for energy-efficient lighting. Major trends in the forecast period include technological innovations, rapid growth of ambulatory surgical centers (ASCs), advancements in digital imaging technology, increasing adoption of LED lights, and rise in minimally invasive surgeries.
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Market Drivers and Trends:
The rising number of hospitals is expected to propel the growth of the surgical lights market going forward. The rising number of hospitals is attributed to increasing healthcare demand, population growth, and advancements in medical technology. Surgical lights are indispensable tools in modern healthcare settings, contributing to improved surgical outcomes, reduced risks, and enhanced patient safety through better visibility and control during surgeries. For instance, in May 2023, according to the American Hospital Association (AHA), a US-based national organization, the total number of hospitals in the United States was 6,129 in 2023, up from 6,093 hospitals in 2022. Therefore, the rising number of hospitals is driving the growth of the surgical lights market.
Major companies operating in the surgical lights market are focused on developing innovative products, such as flexible surgical lights, to enhance surgical precision and efficiency. Flexible surgical lights are lighting systems designed with versatility and maneuverability to meet the dynamic needs of modern operating rooms. These lights typically feature adjustable arms, joints, and heads that can be easily positioned and repositioned to illuminate different areas of the surgical field as needed during procedures. For instance, in November 2022, Mindray, a China-based medical device company, launched the HYLED C series HyLED C8/C7/C5, an innovative surgical light with technologies in optics and flexibility designed to optimize the surgical environment with features such as intelligent light distribution, adjustable color temperature, and a streamlined control interface. This advancement represents a strategic move towards integrating digital capabilities into surgical lighting, catering to the evolving needs of modern healthcare facilities. The HyLED C series enhances visibility and operational efficiency for professionals in the operating room.
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Major Key Players of the Market:
Koninklijke Philips N.V., Stryker Corporation, Olympus Corporation, Steris Plc, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Hill-Rom Services Inc., Getinge AB, Integra LifeSciences Corporation, KLS Martin SE & Co., A-dec Inc., Bender GmbH & Co. KG., Amico Group of Companies, Skytron LLC, Bruton Medical LLC, Herbert Waldmann GmbH & Co. KG, Avante Health Inc., SIMEON Medical GmbH & Co. KG, Brandon Medical Co. Ltd., Dr. Mach GmbH & Co. KG, BihlerMed, Luxtel LLC, Sunnex Inc., Matrix Medicals Private Limited, NUVO, Koinamed India Pvt Ltd
Surgical Lights Market 2024 Key Insights:
• The surgical lights market size is expected to see strong growth in the next few years. It will grow to $3.97 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%.
• Impact Of Rising Hospital Numbers On The Surgical Lights Market Growth
• Advancements In Smart Surgical Lighting Systems
• North America was the largest region in the surgical lights market in 2023
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