Hospital lighting incorporates several advanced lighting products such as surgical lighting systems, examination lights, patient room lights and accent lights that provide a comfortable ambience for patients. These lighting systems offer various advantages like precision lighting for surgeries, customizable lighting controls and energy efficient lighting solutions. The demand for hospital lighting is driven by the need for improved lighting infrastructure in healthcare facilities to ensure better outcomes for patients and staff.
The global Hospital Lighting Market is estimated to be valued at US$ 14.57 Bn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increased focus on implementation of safety and efficiency standards by healthcare facilities is driving the growth of the hospital lighting market. Regulatory bodies like National Fire Protection Association (NFPA) have established lighting standards to ensure healthcare facilities have adequate and emergency lighting. They have mandated proper lighting levels in operating rooms, minimum lighting levels in exit signs and emergency lighting in case of power failures. This is prompting hospitals to upgrade or retrofit their existing lighting infrastructure. Furthermore, lighting standards also aim to reduce energy consumption and greenhouse gas emissions from lighting sources. The growing awareness about benefits of LED lighting such as high efficiency, lower maintenance and longer lifespan is increasing its adoption in hospitals.
Segment Analysis
The global hospital lighting market is dominated by the LED lighting sub-segment. LED lighting accounts for over 60% of the total market share owing to its various advantages over conventional lighting technologies including energy-efficiency, durability, flexibility and design versatility. LED lighting provides up to 70-80% savings in energy costs compared to traditional lighting making it an economical option for large healthcare facilities.
Key Takeaways
The Global Hospital Lighting Market Demand is expected to witness high growth over the forecast period of 2023 to 2030 driven by rising healthcare infrastructure spending worldwide, growing prevalence of chronic diseases and aging population.
Regional analysis: North America region currently dominates the global hospital lighting market with over 40% value share owing to advanced healthcare infrastructure, early technology adoption and presence of major players in the region. Asia Pacific region is expected to experience highest growth during the forecast period supported by increasing healthcare investments in major Asia Pacific countries such as India and China to meet the rising demand from large population base. The hospital lighting market is expected to grow the fastest in Asia Pacific region growing at a CAGR of around 8% through 2030.
Key players operating in the hospital lighting market are Nidec Corporation, AMETEK Inc., ABB Ltd., Hitachi Ltd., Regal Rexnord Corporation, Robert Bosch GmbH, Johnson Electric Holdings Limited, Weg SA, Siemens AG, Toshiba Corp., Rockwell Automation Inc. Nidec Corporation currently holds over 15% market share being the largest manufacturer of hospital lighting products globally. AMETEK Inc. and ABB Ltd. are other prominent players in the market with strong distribution network across major markets.
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