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Hospital Lighting Market Growth Analysis, Size, Key Insights And Outlook To 2033
Hospital Lighting Market Growth
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According to The Business Research Company's, 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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Market Drivers and Trends:
The rising number of surgeries is expected to boost the growth of the hospital lighting market going forward. Surgery refers to a process that is used to remove or repair a bodily component or to determine whether an illness is present. Adequate and well-designed lighting is crucial in surgical settings to provide optimal visibility for surgeons and medical staff. Proper illumination supports precision during procedures, reducing the risk of errors and improving overall surgical outcomes. For instance, in January 2023, as per the report published by the National Library of Medicine, a US-based biomedical library that provides biomedical informatics, in 2021, the number of cosmetic surgeries performed in the hospital's plastic surgery department grew by 49.4% over the previous year. In 2021, the total number of operations grew by 33.4%. Therefore, the rising number of surgeries is driving the growth of the hospital lighting market.
Advancement in lighting technology is a key trend gaining popularity in the hospital lighting market. Major market players are focused on creating innovative lighting solutions that prevent the spreading of infection to gain a competitive edge in the market. For instance, In March 2021, Mediland, a Taiwan-based specialized company that focuses on providing a range of medical equipment and services, expanded its product portfolio with the technological launch of two cutting-edge offerings. Following the success of the Hyper Light, a UVC disinfection robot combating the spread of COVID-19, Mediland introduced the novel C800 electro-hydraulic operating table and the SunLED Series surgical light under the theme Feel in Control. Both products boast high-end features designed to empower surgeons, providing them with an enhanced operational experience. The C800 operating table and SunLED Series surgical light reflect Mediland's commitment to delivering advanced tools for curative, preventive, and palliative care, further solidifying its position as a player in healthcare innovation.
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Major Key Players of the Market:
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.
Hospital Lighting Market 2024 Key Insights:
• 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%.
• Rising Number Of Hospitals Worldwide Boosts Hospital Lighting Market Demand
• Introducing Innovative Hospital Lighting Solutionsby Mediland
• North America was the largest region in the hospital lighting market in 2023
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