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Rising Number Of Hospitals Worldwide Boosts Hospital Lighting Market Demand: An Emerging Driver Transforming The Hospital Lighting Market Landscape
Hospital Lighting
What Is the Projected Growth of the Hospital Lighting Market?
The dimension of the hospital lighting market has witnessed substantial expansion over the recent years. Its growth is projected to escalate from $8.29 billion in 2024 to $8.78 billion in 2025 with a compound annual growth rate (CAGR) of 5.9%. The historical growth is linked with factors such as energy efficiency, patient-oriented lighting, regulatory norms, decrease in hospital-acquired infections, and precise surgical proceedings.
In the coming years, the hospital lighting market is predicted to experience substantial growth. Its value is projected to rise to $11.82 billion by 2029, with a compounded annual growth rate (CAGR) of 7.7%. This projected increase during the forecast period can be ascribed to factors such as research and development, sustainability targets, the merging of smart hospitals, an emphasis on cost-efficiency, and infrastructural modernization. Significant trends predicted during this forecast period are the incorporation of biophilic design elements, the utilization of data for lighting designs, designs focusing on wellness, remote tracking, management and the application of adaptive lighting controls.
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What Are the Different Hospital Lighting Market Segments?
The hospital lighting 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, Examination Rooms, Surgical Suites, Other Applications
Subsegments:
1) By Troffers: LED Troffers, Fluorescent Troffers
2) By Surface-Mounted Lights: LED Surface-Mounted Lights, Traditional Surface-Mounted Lights
3) By Surgical Lamps: LED Surgical Lamps, Halogen Surgical Lamps, Mobile Surgical Lamps
4) By Other Products: Exam Room Lights, Emergency Lighting, Cove Lighting
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What Are the Primary Drivers Shaping the Hospital Lighting Market?
The demand for hospital lighting is set to grow, propelled by a global increase in hospital constructions. Hospitals play a crucial role in developing any healthcare system and at present, the construction of new hospitals in multiple regions is being fueled by external pressures, flaws in healthcare systems, and deficiencies in hospital sectors. This rise in hospital constructions impacts the hospital lighting market as lighting plays an important role in creating both functional and aesthetic environments within hospitals. To illustrate, in 2022, UK healthcare expenditure rose mildly by 0.7% reaching approximately $354.88 billion (£283 billion), as per data from the UK's Office for National Statistics. Hence, the growing number of healthcare centers and hospitals globally will stimulate the demand for hospital lighting.
Which Companies Are Leading in the Hospital Lighting Market?
Major companies operating in the hospital lighting market are 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, Halma PLC, JVS Technologies Pvt Ltd., Healthcare Lighting Solutions
What Are the Major Trends Shaping the Hospital Lighting Market?
Innovations in lighting technology are emerging as a significant trend in the hospital lighting market. To gain a market advantage, leading market participants are concentrating on developing inventive lighting solutions that provide superior visibility and accuracy during medical operations. For instance, in April 2024, the Multi-Color Plus Series surgical light was launched by Nanchang Micare Medical Equipment Co., Ltd., a Chinese manufacturer of surgical lighting and medical examination lamps. This series, advanced by multi-color technology, aims to revolutionize the surgical lighting experience. The series includes adjustable color temperatures to ensure heightened visibility and precision while conducting medical procedures. By combining modern aesthetics with cutting-edge functionality, the Multi-Color Plus Series redefines standards in surgical lighting and serves as a crucial tool for medical professionals aiming to boost performance and results.
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What Are the Top Revenue-Generating Geographies in the Hospital Lighting Market?
North America was the largest region in the hospital lighting market in 2024. Europe was the second-largest region in the hospital lighting market. The regions covered in the hospital lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Hospital Lighting Market?
2. What is the CAGR expected in the Hospital Lighting Market?
3. What Are the Key Innovations Transforming the Hospital Lighting Industry?
4. Which Region Is Leading the Hospital Lighting Market?
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