Hospital Lights Market Report 2024 Latest Insights, Growth Rate, Future Trends And Forecast

"The Business Research Company recently released a comprehensive report on the Global Hospital Lights Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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.

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Market Drivers and Trends:

Growing demand for infection control in hospital is expected to propel the growth of the hospital lights market. Infection control refers to the policies and procedures put in place to control and reduce the spread of infections in hospitals and other healthcare settings, with the primary goal of lowering infection rates. The connection between infection control and hospital lights is around the usage of lighting technology that can aid in the reduction of hospital infection rates. For instance, according to a report by the World Health Organization (WHO), a Switzerland-based intergovernmental organization, seven patients in high-income nations and 15 patients in low- and middle-income countries will get at least one healthcare-associated infection (HAI) during their hospital stay for every 100 patients in acute-care hospitals. Therefore, the growing demand for infection control in hospitals is driving the growth of 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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Major Key Players of the Market:

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

Hospital Lights Market 2024 Key Insights:

• 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%.
• Growing Number Of Hospitals Fuels Growth In The Hospital Lights Market
• Innovative Product Solutions Driving Growth In The Hospital Lights Market
• North America was the largest region in the hospital lights market in 2023

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