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Medical Lighting Technologies Market Research 2024-2033 - Size, Trends, Outlook, Overview
Medical Lighting Technologies Market Research
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According to The Business Research Company's, The medical lighting technologies market size has grown strongly in recent years. It will grow from $3.18 billion in 2023 to $3.46 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to growing healthcare infrastructure, enhanced surgical procedures, rise in minimally invasive surgeries, focus on patient comfort, demand for energy-efficient solutions, demand for energy-efficient solutions, global healthcare spending increase.
The medical lighting technologies market size is expected to see strong growth in the next few years. It will grow to $4.74 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to shift towards human-centric lighting, advancements in color rendering, remote and telemedicine trends, focus on environmental sustainability, enhancing operating room lighting, enhanced operating room lighting. Major trends in the forecast period include led technology dominance, advancements in surgical lighting, integration of smart lighting solutions, uv-c disinfection lighting, collaborations for technological integration, telemedicine and video conferencing lighting solutions.
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Market Drivers and Trends:
Government initiatives for research and development in healthcare are expected to propel the growth of the growth of the medical lighting technologies market going forward. Government initiatives refer to specific actions, programs, policies, or projects undertaken by government authorities at various levels (local, regional, national, or international) to address specific issues, achieve certain goals, or create positive changes in society. Governments can play a pivotal role in fostering the development and widespread adoption of advanced medical lighting technologies, ultimately contributing to enhanced healthcare outcomes and patient care. For instance, in 2022, according to the Department of Health and Social Care, a UK-based government authority, the UK government announced £260 million (US $270.65) million in funding to boost healthcare research and manufacturing. This was committed by BEIS and DHSC to support NHS-led health research into diagnostics and treatment through new privacy-preserving platforms and clinical research services, and £60 million (US $63.60 million) to help expand life sciences manufacturing in the UK.
Technological advancements are a key trend gaining popularity in the medical lighting technologies market. Major companies operating in the medical lighting technology market are focused on developing new technological solutions to gain a competitive edge in the market. For instance, in April 2021, Axis Lighting a Canada based a manufacturer of high-performance commercial lighting solutions and BIOS Lighting is a US-based company that specializes in developing and manufacturing lighting solutions that are designed to promote human health and well-being. a have announced the launch of Balanced Care, a new family of healthcare lighting luminaires that feature BIOS Sky Blue circadian technology. BalancedCare is a healthcare lighting brand that is designed for patient rooms, MRI suites, patient restrooms, nurses' stations, corridors, and common areas. The BalancedCare MRI Series is built around modern LED technology to provide superior lighting for MRI suites. The effort intends to address the unique issues of healthcare facility lighting while also promoting patient welfare.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
A-Dec Inc., Brandon Medical Company Limited, Burton Medical LLC, Daray Limited, Draegerwerk AG & Co KGaA, Eaton Corporation plc, Excelitas Technologies Corporation, GE HealthCare Technologies Ltd., Getinge AB, Integra Lifesciences Holdings Corporation, KLS Martin SE & Co., Merivaara Corporation, Steris plc, Stryker Corporation, Trilux GmbH & Co KG, Welch Allyn Inc., Wolfspeed Inc., Johnson & Johnson Services Inc., 3M Company, Abbott Laboratories, Alcon Inc., B. Braun Melsungen AG, Baxter Laboratories Inc., Becton, Dickinson and Company, Boston Scientific Corp., Capsule Corp., Cardinal Health Inc., Grand Pharmaceutical Group Ltd., Danaher Corp., DNA Script SAS, Endologix Inc., Fresenius SE & Co. KGaA, Fujifilm Ltd., Grail Inc., Hill-Rom Holdings Inc.
Medical Lighting Technologies Market 2024 Key Insights:
• The medical lighting technologies market size is expected to see strong growth in the next few years. It will grow to $4.74 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%.
• Surging Demand For Enhanced Healthcare Facilities Drives Growth In The Medical Lighting Technologies Market
• Innovative Technological Advancements Transforming The Landscape Of Medical Lighting Technologies
• North America was the largest region in the medical lighting technologies market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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The Business Research Company
Europe: +44 207 1930 708
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Americas: +1 315 623 0293
Email: info@tbrc.info
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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